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U.N. panel says world should ditch dollar

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posted on Mar, 19 2009 @ 10:26 AM
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U.N. panel says world should ditch dollar


www.reuters.com

LUXEMBOURG (Reuters) - A U.N. panel will next week recommend that the world ditch the dollar as its reserve currency in favor of a shared basket of currencies, a member of the panel said on Wednesday, adding to pressure on the dollar.

Currency specialist Avinash Persaud, a member of the panel of experts, told a Reuters Funds Summit in Luxembourg that the proposal was to create something like the old Ecu, or European currency unit, that was a hard-traded, weighted basket.

(visit the link for the full news article)




posted on Mar, 19 2009 @ 10:27 AM
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Uh-oh....

Is this the final stages of the Dollar as the reserve currency of the world?

If so, what will take its place as the new front runner?

And what will that mean to us?

I get an unsettling feeling, particularly when we rely so heavily on foreign imports for our way of living, and manufacture virtually NOTHING. Switching to a different currency, could potentially be catastrophic for already struggling americans, yet I can't blame the world markets based on endless fiscal idiocy that they see rippling outward from the fed and central banks.

Some uncertain times we are living in, to say the very least...

www.reuters.com
(visit the link for the full news article)



posted on Mar, 19 2009 @ 10:31 AM
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i think it's nothing more than talk.

currency conversion on that monumental of a scale, in my opinion, just is not going to happen

unless we're going to replace it with the amero's



posted on Mar, 19 2009 @ 10:34 AM
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hrmmm i wonder if this statement was why the US dollar dropped in value like 500 pips against the EURO and the YEN....



posted on Mar, 19 2009 @ 10:38 AM
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This was discussed on BBC Radio 4.

With the Fed's quantitative easing method and the trillions of Dollar's needed to removed from the economy, we are talking a major decline in the currency's status.



posted on Mar, 19 2009 @ 10:47 AM
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in.reuters.com...


MOSCOW, March 14 (Reuters) - Russia gave a cool reception on Saturday to a Kazakh proposal for a new global currency, saying it may be a topic for discussion among a loose, Russia-dominated economic grouping of just five former Soviet states.

Russia has said it wants the rouble as a regional reserve currency. But Kazakh President Nursultan Nazarbayev has proposed a currency he calls "acmetal", combining "acme" and "capital".


Seems like everyone wants the same thing
or rather are fighting against each other for the same thign



posted on Mar, 19 2009 @ 10:57 AM
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Dollars, euros, pounds, rubles. It's all going to go away someday. It will eventually be a one currency world. That currency will be credit. You will be issued credits.

These credits will be levied against debits and there would be no actual paper money associated with a government.

Once we change completely from a fiat monetary system into a credit debit system there will be only one currency on Earth. The framework is already in place. No longer do banks trade actual currency with each other but electronic debits and credits are issued.


What denominations of currency notes is the Treasury Department no longer printing?

On July 14, 1969, David M. Kennedy, the 60th Secretary of the Treasury, and officials at the Federal Reserve Board announced that they would immediately stop distributing currency in denominations of $500, $1,000, $5,000 and $10,000. Production of these denominations stopped during World War II. Their main purpose was for bank transfer payments. With the arrival of more secure transfer technologies, however, they were no longer needed for that purpose. While these notes are legal tender and may still be found in circulation today, the Federal Reserve Banks remove them from circulation and destroy them as they are received.

Source:ustreas.gov

Paper money for all governments is going the way of the dodo bird thanks to central banks. Once that the central banks of the world completely dominate every currency and eliminate it from the pockets of people they will own all trade all governments and everything and everyone else in between. Your life will be controlled by the amount of credits and debits in your account. If you are unable to have an account, your ability to function in society will end.

Of course then people wishing to avoid detection for any reason will use another medium of exchange (basically barter) and thus a massive and elusive black market unlike anything we see today will emerge.



posted on Mar, 19 2009 @ 11:37 AM
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There are two thread with this already.

www.abovetopsecret.com...

and one a little later

www.abovetopsecret.com...

Can the Mods clean this up?

[edit on 19-3-2009 by j2000]



posted on Mar, 19 2009 @ 11:39 AM
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In all honesty I can see no reason why any country would want to continue to work with the American dollar given how volatile it's been as of late. Hell, I wish I could operate in this country with a different currency since my dollars are slowly worth less and less.

Now, that isn't to say I don't believe that everything isn't going perfectly according to plan, that this isn't exactly what "They" want. Our economy has been dominated by foreign interests for a while now, however, these are multinational, or should I say "supernational" and truly have no interest in the welfare of America.

When you couple this story with the story about the G20 proposing new currencies it seems that a one world currency isn't far off. In certain cases I might be all for a unified currency but not when it's controlled by the same people that have been controlling currencies for decades. The only thing we'll gain from a unified currency is an expedited control structure.



posted on Mar, 19 2009 @ 12:28 PM
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I actually think this was the plan all along and I wouldn't be surprised if Obama is for it.

I said this when this economic crisis was first pushed by the government. When reports were all on the news that politicians came out of a meeting with Paulson and they never looked so scared.

I said then they plan to make the problem worse than it is to introduce some world currency.

It's kind of obvious when you have Bush 41 and 43, Kissinger, Gorbachav, Clinton, Gordon Brown and more talking about the New World Order. It's not just a conspiracy theory.

The NWO is about the world coming under one world body that will regulate everything.

America has to fall as a superpower in order for this global government to take over and I have been saying this since Bush 41 and his State of the Union speech.



posted on Mar, 19 2009 @ 01:56 PM
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Well one point that I'd like to add is that the World has already had its own currency, the Dollar. It was used as the Reserve to replace Gold. Hasn't worked out so well.

Furthermore, the electronic thing has also been done and is part and parcel of what got us in this mess. Changing currencies or going all digital isn't going to change anything, it's almost wishful thinking IMO. This situation will be dealt with the old fashioned way, the hour may be later than we think.



posted on Mar, 19 2009 @ 02:15 PM
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Originally posted by HimWhoHathAnEar
Well one point that I'd like to add is that the World has already had its own currency, the Dollar. It was used as the Reserve to replace Gold. Hasn't worked out so well.


Well it did for a couple of decades. It's like the Bernie Madoff pyramid. For some time you are extremely rich and can enjoy the artificial prosperity, but then it all tumbles down. No



posted on Mar, 19 2009 @ 02:25 PM
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Well, maybe 5-6 decades since after WWII. But it has been a one world reserve fiat currency in essence.



posted on Mar, 19 2009 @ 02:33 PM
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Well, the dollar was backed by the collateral of the American people, our industry and our real estate. The only problem we have now is that our collateral is no longer worth anything to anyone because we've sold off everything of value.



posted on Mar, 19 2009 @ 03:14 PM
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reply to post by Shadowflux
 


Agreed, and IMF SDR's and the like would be no different without a gold backing.



posted on Mar, 19 2009 @ 03:17 PM
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reply to post by DaRAGE
 


NO that was the result of the fed yesterday taking incredible measures of pumping paper from the treasury into the fed and then to the markets.

Paper with not value, to buy our own debt.



posted on Mar, 19 2009 @ 03:24 PM
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reply to post by HimWhoHathAnEar
 


That is because during the seventies under Nixon, the gold was replaced by oil backing the dollar, is was one time in our humble history when America used to produce more oil than the middle east.




posted on Mar, 19 2009 @ 03:25 PM
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This, coupled with the IMF stating that it's going to print its own money to hand out to individual countries, makes me think that some sort of world currency isn't that far off. As I said in the IMF thread, it might not completely replace individual currencies, but I would not be surprised to see an underlying global currency that ties all the currencies together.



posted on Mar, 19 2009 @ 03:30 PM
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CoffeeBeans

It sounds like they will be replacing the dollar with this new currency so yes the dollar is dying my friends.

Sad but truth.

I feel that this has been planned and that the Federal Reserve a banking global elite bank is behind all of it.



posted on Mar, 19 2009 @ 03:48 PM
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This statement only brings to the front what I have been trying to say for awhile now.

Things are going to get bad for the USA sooner or later and this looks like a sooner to me.

We shall see how this turns out.



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