UN wants new global currency to replace dollar

UN wants new global currency to replace dollar

www.telegraph.co.uk

The dollar should be replaced with a global currency, the United Nations has said, proposing the biggest overhaul of the world's monetary system since the Second World War.

The UN Conference on Trade and Development (UNCTAD) said the system of currencies which binds the world economy is not working properly, and was largely responsible for the financial and economic crises.
It added that the present system, under which the dollar acts as the worlds reserve currency, should be reconsidered

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[edit on 7-9-2009 by jdub297]

Ready for the NWO? It is coming soon, to a country near you!

The UNCTAD report is the first time a major multinational institution has proposed such a suggestion.

The proposals amount to the most radical suggestions for redesigning the global monetary system. Until now no major institution, including the G20 , has come up with an alternative.

The report calls for a new Bretton Woods-style (post WW II) system of exchange, where central banks would be forced to intervene and either support or push down their currencies depending on how the rest of the world economy is behaving.

"Replacing the dollar with an artificial currency would solve some of the problems related to the potential of countries running large deficits and would help stability," said Detlef Kotte, one of the report's authors.

"But you will also need a system of managed exchange rates. Countries should keep real exchange rates [adjusted for inflation] stable. Central banks would have to intervene and if not they would have to be told to do so by a multilateral institution such as the International Monetary Fund."

jw

www.telegraph.co.uk
(visit the link for the full news article)

reply to post by jdub297


This is only going to create a bigger mess and a higher place to fall from when the system collapses.

Ultimately were talking religion here. Exchange the word credit for faith and the whole system is really exposed. A global currency will be the ultimate faith based digital fiat tender.

It will be backed by nothing but the faith of its followers. The banks are nothing but its temples and the bankers its clergy.

reply to post by MikeboydUS


Since the World Bank and U.N. have no resources of their own to back up any "International Dollar," it will be true fiat, and have only the value that the central banks give it by mutual understanding or, as you say, "faith."

The "One World Religion?"

Will there be a "mark," as well?

jw

People keep complaining about a New World Order but I keep asking myself, What would be so bad about a new order? Besides the human fear of change it couldn't be that bad!

I mean really, look at the world around you, we are killing each other and this planet at a phenomenal rate and I am actually starting to look forward to some great cataclysm reshaping this planet and wiping mans numbers down to almost nil so we would be forced to start anew.
Maybe we would have a brand new world where man didn't learn to kill each other or have any idea
about any kind of monetary system and they just helped each other to live out of kindness and love not greed and hatred.

Yeah what a messed up world it would be to have some kind of New World Order because the one we are in now is working so perfect.

Personally, I don't think a world currency would work. Too many hands in the cookie jar, so to speak.

But I do believe that renormalizing the Dollar would. Doing so would require a lot of work and acceptance though.... If you figure through inflation and such so that true value of one dollar today is the equivalent of 20 cents (arbitrarily chosen number) based on what one dollar would be able to purchase at the inception of the dollar, people would have to endure wages cut 4/5, all prices of everything produced domestically (emphasis on 'domestic') would be cut to 4/5 their original level, even the cost of an ounce of gold would be cut 4/5... across the board. We would then be the only currency free of inflation. >think< Most of the issues would be psychological-
The trick is to do this and follow through before other entities have time to react: suddenly, our dollar would be worth more in comparison to other economies' currency thus raising our buying power... since like I said earlier, the emphasis being on normalizing "domestic" products and not correlating import prices to domestic. In essesnce, an inpropmtu tariff on anything imported.

Original here:

UN touts new global currency system

Closing Duplicate

Thank you

Semper

[edit on 9/8/2009 by semperfortis]