Tuesday, June 29th, 2010
Problem, reaction, solution: globalist bankers have been successful at blowing out the US dollar and the Euro and bringing them to the brink via massive wealth destruction through the sale of fraudulent derivative securities, the monetization of the resultant debt, and “stimulus” inflation. This artificial debt bubble is just about set to pop, and a new solution is being offered by the same people, in much the same way a crack dealer strings along his victims.Want a hit? The first one’s free.
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Gabriella Casanas, Mick B. Krever, CNN
June 29, 2010
The dollar is an unreliable international currency and should be replaced by a more stable system, the United Nations Department of Economic and Social Affairs said in a report released Tuesday.
The use of the dollar for international trade came under increasing scrutiny when the U.S. economy fell into recession. “The dollar has proved not to be a stable store of value, which is a requisite for a stable reserve currency,” the report said.
Many countries, in Asia in particular, have been building up massive dollar reserves. As a result, those countries’ currencies have become undervalued, decreasing their ability to import goods from abroad.
The World Economic and Social Survey 2010 is supporting a proposal long advocated by the International Monetary Fund to create a standardized international system for liquidity transfer.
Under this proposed system, countries would no longer have to buy up foreign currencies, as China has long done with the U.S. dollar. Rather, they would accumulate the right to claim foreign currencies, or special drawing rights, or SDRs, rather than the currencies themselves.