Bancor: The Global Currency The IMF is Proposing

August 25, 2010

The Economic Collapse

Sometimes there are things that are so shocking that you just do not want to report them unless they can be completely and totally documented.  Over the past few years, there have been many rumors about a coming global currency, but at times it has been difficult to pin down evidence that plans for such a currency are actually in the works.  Not anymore.  A paper entitled “Reserve Accumulation and International Monetary Stability” by the Strategy, Policy and Review Department of the IMF recommends that the world adopt a global currency called the “Bancor” and that a global central bank be established to administer that currency.  The report is dated April 13, 2010 and a full copy can be read here.  Unfortunately this is not hype and it is not a rumor.  This is a very serious proposal in an official document from one of the mega-powerful institutions that is actually running the world economy.  Anyone who follows the IMF knows that what the IMF wants, the IMF usually gets.  So could a global currency known as the “Bancor” be on the horizon?  That is now a legitimate question.

So where in the world did the name “Bancor” come from?  Well, it turns out that ”Bancor” is the name of a hypothetical world currency unit once suggested by John Maynard Keynes.  Keynes was a world famous British economist who headed the World Banking Commission that created the IMF during the Breton Woods negotiations.

The Wikipedia entry for “Bancor” puts it this way….

The bancor was a World Currency Unit of clearing that was proposed by John Maynard Keynes, as leader of the British delegation and chairman of the World Bank commission, in the negotiations that established the Bretton Woods system, but has not been implemented.

The IMF report referenced above proposed naming the coming world currency unit the “Bancor” in honor of Keynes.

So what about Special Drawing Rights (SDRs)?  Over the past couple of years, SDRs have been touted as the coming global currency.  Well, the report does envision making SDRs “the principal reserve asset” as we move towards a global currency unit….

“As a complement to a multi-polar system, or even—more ambitiously—its logical end point, a greater role could be considered for the SDR.”

However, the report also acknowledges that SDRs do have some serious limitations.  Since the value of SDRs are closely tied to national currencies, anything affecting those currencies will affect SDRs as well.

Right now, SDRs are made up of a basket of currencies.  The following is a breakdown of the components of an SDR….

*U.S. Dollar (44 percent)

*Euro (34 percent)

*Yen (11 percent)

*Pound (11 percent)

The IMF report recognizes that moving to SDRs is only a partial move away from the U.S. dollar as the world reserve currency and urges the adoption of a currency unit that would be truly international.  The truth is that SDRs are clumsy and cumbersome.  For now, SDRs must still be reconverted back into a national currency before they can be used, and that really limits their usefulness according to the report….

“A limitation of the SDR as discussed previously is that it is not a currency. Both the SDR and SDR-denominated instruments need to be converted eventually to a national currency for most payments or interventions in foreign exchange markets, which adds to cumbersome use in transactions. And though an SDR-based system would move away from a dominant national currency, the SDR’s value remains heavily linked to the conditions and performance of the major component countries.”

So what is the answer?

Well, the IMF report believes that the adoption of a true global currency administered by a global central bank is the answer.

The authors of the report believe that it would be ideal if the “Bancor” would immediately be used as currency by many nations throughout the world, but they also acknowledge that a more “realistic” approach would be for the “Bancor” to circulate alongside national currencies at first….

“One option is for bancor to be adopted by fiat as a common currency (like the euro was), an approach that would result immediately in widespread use and eliminate exchange rate volatility among adopters (comparable, for instance, to Cooper 1984, 2006 and the Economist, 1988). A somewhat less ambitious (and more realistic) option would be for bancor to circulate alongside national currencies, though it would need to be adopted by fiat by at least some (not necessarily systemic) countries in order for an exchange market to develop.”

So who would print and administer the “Bancor”?

Well, a global central bank of course.  It would be something like the Federal Reserve, only completely outside the control of any particular national government….

“A global currency, bancor, issued by a global central bank (see Supplement 1, section V) would be designed as a stable store of value that is not tied exclusively to the conditions of any particular economy. As trade and finance continue to grow rapidly and global integration increases, the importance of this broader perspective is expected to continue growing.”

In fact, at one point the IMF report specifically compares the proposed global central bank to the Federal Reserve….

“The global central bank could serve as a lender of last resort, providing needed systemic liquidity in the event of adverse shocks and more automatically than at present. Such liquidity was provided in the most recent crisis mainly by the U.S. Federal Reserve, which however may not always provide such liquidity.”

So is that what we really need?

A world currency administered by an international central bank modeled after the Federal Reserve?

Not at all.

As I have written about previously, the Federal Reserve has devalued the U.S. dollar by over 95 percent since it was created and the U.S. government has accumulated the largest debt in the history of the world under this system.

So now we want to impose such a system on the entire globe?

The truth is that a global currency (whether it be called the “Bancor” or given a different name entirely) would be a major blow to national sovereignty and would represent a major move towards global government.

Considering how disastrous the Federal Reserve system and other central banking systems around the world have been, why would anyone suggest that we go to a global central banking system modeled after the Federal Reserve?

Let us hope that the “Bancor” never sees the light of day.

However, the truth is that there are some very powerful interests that are absolutely determined to create a global currency and a global central bank for the global economy that we now live in.

It would be a major mistake to think that it can’t happen.

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Russian President: New World Order with new Global Currency

June 19, 2010

By Luis R. Miranda
The Real Agenda
June 19, 2010

As many other puppet presidents have done it before, Russia’s Dmitri Medvedev is taking his opportunity to call for a new world

Russian President, Dmitri Medvedev

order and to push the Russian currency up, as the new reserve paper.  “What had seemed untouchable has collapsed. The bubbles that created the illusion of flourishing economies have burst,” said the Russian president in St Petersburg.  As he opened Russia’s annual economic forum, Medvedev said the times when western corporations dominated the economy had ended and the new interest in Russia was a sign that the world was changing.

“For Russia this situation is a challenge and an opportunity.  And we should use it to build a modern, flourishing and strong Russia … which will be a co-founder of the new world economic order.” he added.  Talking in front of many businessmen from around the world, the Russia leader followed the steps of other governments and presidents as well as of non-governmental institutions.  In the past, George H.W. Bush, Tony Blair, Gordon Brown, Mahmoud Ahmadinejad and Barack Obama, among others, have called for the formation of a new world order.  In fact, all those leaders have cited the creation of a centralized global entity as the only way to cure the many illnesses the world suffers from today.

Together with governments, there are supranational institutions such as the World Bank, the International Monetary Fund, the European Central Bank and their respective leaders, who have echoed the same calls for the creation of a new global order.  This order would have the power, will amass the resources of the planet and will decide how to use them.  The plan also includes the creation of a single monetary policy to which all countries will have to submit to.  The adherence to such policy will enable the countries to receive loans and aid packages that will make them more dependent on the foreign centralized organization, and less dependent on their own Constitutions and laws.  In fact, in the world seen through the eyes of people like Medvedev and the other power men, there is no need for nationality, sovereignty or identity.

Russia has already taken significant steps to aid the lifeline of the new world order -which has existed for many years now-.  The country will introduce a policy of zero taxation on capital gains which will indeed allow the free flow of monies in and out of, much like it happens in corrupt countries where this policy aides and enables money laundering through the banking system.  This would transform Russia into the new United States when it comes to moving large amounts of money coming from all places -drug trade, arms trade, slave trade- to circulate and make its way across the world.  Of course Medvedev did not present it like that.  Instead, he said his policy would allow companies working on long-term investments.  Russia, he said, “was improving the legal system to offer better protection for businesses against the long arm of bureaucracy.”  In other words, crime, of the kind recently experienced through Wall Street banks around the world will have a safe heaven in Russia.  What Mr. Medvedev’s words mean is that all the policies that allowed the bankers to suck countries dry of their resources will also exist in the world order he dreams about, where Russia is the new leader and he’s the new Al Capone.  Limits to bureaucracy means zero regulation or a perfect environment for the corporations to run their shady Ponzi schemes.

The Russian president also talked about something that would make any corporate businessman smile, even in the rainiest day.  Russia has completed the process of simplifying migration procedures, so that workers can go in the country; or better, Russia just like China will allow corporations to pay some of the lowest wages to its citizens in exchange for long working days with no benefits and no rights.  Again, it’s clear he did not present it this way.  He said Russia had changed to attract “highly-qualified specialists” from the financial and technology sectors.  “The state should not tear down the apples from the tree of economics,” he said.

Medvedev complemented his speech on a new world order by forcefully attacking the dollar and claiming that it was time for a new reserve currency.  “Only three, five years ago it seemed like a fantasy” to create a new reserve currency. Now we are seriously discussing it.”  He does not seem to be alone in that ride.  It seems China is up to the challenge as well.  In the meantime, Bank of Israel Governor Stanley Fischer added his voice to the Russian’s, but from a very different point of view, one that is rarely heard.  He said: “New reserve currencies don’t emerge by fiat. They emerge as countries change.”  A fiat currency is paper or electronic  money that is not backed up by a nation’s industry or production, but by an inflated system of blind trust on what a piece of paper says it is worth.

Apparently, both Russia and China think it is time for the East to drive the world and its markets.  “We really live at a unique time, and we should use it to build a modern, prosperous and strong Russia, a Russia that will be a co-founder of the new world economic order,” he said.  The problem with Medvedev’s vision is that his plan will not work, at least not for as long as he wants.  Although he intends to build something new, better and different, he plans on using the same old policies that brought us to the disaster he so clearly criticizes.  He wants prosperity, a modern economy and a strong Russia, but he wants zero regulation, a centralized dictatorial government and no sovereignty.  Maybe he forgets that Capitalism, the real Capitalism, was born from free independent nations that based their development on the use of their resources to produce quality goods that benefited the world.  Instead, he wants a global economy filled with cheap, slave-made products that need to be changed every few months.  He wants the best workers, but will follow the same old low-paying policies that maintains Asia’s and Latin America’s people in a continuous feudal model of development.

“If the world depended completely on the dollar, the situation would have been more difficult,” Medvedev reminded the audience.  So why does he want a single global currency, then?

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Bilderberg Gives Green Light to Attack Iran

June 5, 2010

PrisonPlanet.com

The 2010 Bilderberg agenda has been revealed by veteran Bilderberg sleuth Jim Tucker and it paints a picture of crisis for the

War with Iran may be around the corner now that Bilderberg has given the official approval.

globalists, who are furious at the increased exposure their gatherings have received in recent years, as well as being dismayed at their failure to rescue both the euro and the failing carbon tax agenda, but more alarmingly according to Tucker, the majority of Bilderberg members are now in favor of military air strikes on Iran.

American Free Press muckraker Tucker has proven routinely accurate with the information he obtains from sources inside Bilderberg, which makes this year’s revelations all the more intriguing.

According to Tucker, Bilderberg luminaries are dismayed at the fact that “many important people” are not attending this year because, due to increasing exposure, invitees are “getting in trouble at home” and constituents are embarrassing them by asking irate questions such as “what are you doing with these monsters?”

“All these people are exposing us, we get all this mail and calls,” Tucker paraphrased Bilderberg members as complaining.

This dovetails with the revelations overheard by Guardian journalist Charlie Skelton at the Hotel Dolce Sitges before the meeting began when he heard conference organizers lamenting the fact that protest numbers are growing at Bilderberg events each year and that they represent a “threat” to Bilderberg’s agenda.

In addition, prominent Bilderberg Zbigniew Brzezinski, the man who warned recently that a “global political awakening” was threatening to derail the move towards global government, was expected to be in attendance at this year’s meeting.

Tucker named his source as an international financial consultant who personally knows Bilderberg members and has done business with them for the past 20 years.

Turning to Iran, Tucker said that many Bilderberg members, including Brzezinski, were in favor of U.S. air strikes on Iran and were “leaning towards war,” although 100 per cent of members were not supportive of an attack.

“Some of them in Europe are saying no we shouldn’t do it but most of them are in favor of American air strikes on Iran,” said Tucker, adding, “They’re tilting heavily towards green lighting a U.S. attack on Iran.”

An attack on Iran would provide a welcome distraction to the globalists’ failings in other areas and would also allow them to war profiteer, pointed out Tucker.

On the subject of the euro, Tucker said that the Bilderberg elitists were determined to save the single currency even as it collapsed to a new 4-year-low at $1.19 against the dollar yesterday afternoon. As we have highlighted, the globalists are panicking at the euro’s fall and the ECB keeps intervening to try and hasten its decline. If the euro were to cease to exist, it would all but derail the ultimate agenda for a global currency because the perceived stability of using one currency for a plethora of nations would be discredited.

“The euro is important because it’s part of their world government program, they’re very downbeat because they’ve fallen so far behind,” said Tucker, explaining that the globalists had planned by now to have the European Union, the American Union and the Asia-Pacific Union already up and running.

With regard to the climate change agenda, on which subject Microsoft founder Bill Gates was personally invited to the conference to discuss, Tucker said that Bilderberg were still intent on pushing it in pursuit of a carbon tax despite the fact that the whole move was massively eviscerated in the aftermath of the Climategate scandal.

Tucker quoted one Bilderberg member as all but admitting defeat on the mission to hoodwink the public into paying taxes in the name of fighting global warming.

“On climate change, we’re about whipped,” said one of the elitists in attendance.

However, Tucker said that the globalists were working on putting out more climate change propaganda “even as we speak”.

On the issue of the BP oil spill, the Bilderbergers made it clear that President Obama’s apparent “outrage” at BP and his threat of criminal procedures against the company was an little more than an act and that British Petroleum, who have been represented at Bilderberg meetings in the past by people like Peter Sutherland, former non-executive chairman of BP, were still “one of our brothers,” according to the elitists.

The future of oil prices are always an important topic to Bilderberg and the leaks Tucker and other investigators relayed from previous Bilderberg meetings were proven accurate when oil prices hit $150 a barrel in 2008, which was precisely what Bilderberg had called for.

“Gas prices are going to be nice and cheap this summer,” said Tucker, adding that they would start to rise again to the $4 a gallon level around November when artificial scarcity is created.

On the march towards anti-democratic global government, Bilderberg members stated that America must be “Europeanized” and turned into a giant socialist welfare state with health rationing and higher income taxes.

Tucker said hat Bilderberg were intent on mandating a bank tax paid directly to the IMF to fund global governance and a global treasury department under the IMF, and that this would then merely be passed on to the consumer.

In summary, Tucker said that this year’s conference was the most downbeat and pessimistic Bilderberg meeting in history, with massive exposure of their agenda acting as a roadblock to the ultimate goal of an authoritarian world government run by the elite, for the elite.

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…And Now For a Global Bank and a Global Currency

May 18, 2010 3 Comments

By Luis R. Miranda
The Real Agenda
May 18, 2010

Since I was a child I hear about the possibility of one world currency.  Back then no one around me knew how to explain how thatwould come about or who would control it.  The answer to those questions are now clear.  Dominic Strauss-Kahn answered my childhood questions.  A Global Currency managed by a Global Central Bank.  The IMF chief said so in Zürich, Switzerland, during a meeting in which he confirmed his view that this crisis “is an opportunity”.

According to Kahn, the Global Central Bank and Currency would be a thing of last resort, in cases when the global economy is in shambles.  He said the new currency would be a “risk-free asset for the system independent of national currencies,” and that a “global central bank could also serve as a lender of last resort”.  How smart of Mr. Kahn.  The problem is that this ideas aren’t new and aren’t his.  The push for a global financial body has been in the works for decades.

The idea of a global body that controls the issuance of currency and all financial policy was created before the United Nations, the League of Nations and the European Union were born.  This principle of concentrating power and policy originally intended to amass control with the excuse it would avoid economic corruption and disaster.  However it doesn’t take too long to find out it is exactly the opposite.  Just as the creation of the League of Nations, the United Nations and the European Union did not end war, neither will a centralized supranational organization end economic unrest.  In fact, it will perpetuate it.

Let’s take a look at past events.  Since the United Nations was born, we experienced conflicts in every continent.  Those conflicts were not the works of countries against countries, but the destabilization came in the form of rogue groups sponsored by governments or their intelligence agencies.  Mossad, MI6, CIA, Taliban and the IRA are just a few examples.  Country-sponsored wars are a thing of the past, and in their letters of intent, the countries that pushed for the creation of the League of Nations and the U.N. knew they would not need such a tool because they also controlled terrorist organizations that would do the work for them.

In the world of economics and finances, the empires, or the countries that aspire to become empires also have their tools to carry out economic and financial terrorism.  The Corporations that initially were outside governments hired financial institutions to carry out their fraudulent activities.  Then, the Corporations became government and it got even easier to carry out financial terrorism.  Multinational Banking Corporations established a new order controlled by themselves, ended oversight and created policies that effectively turned them into the masters of the world’s economy.

So, the bankers did not need Al-Qaeda, MI6, Mossad or the CIA to bring the world to its knees.  That goal could be achieved from and through Wall Street, the IMF and Bank of International Settlements.  The creation of regional blocks to promote commerce and exchange was an excuse to consolidate power and resources.  This idea would later be tested at a global level by promoting the creation of a global financial entity which will control the issuance of money and the terms under which that money is lent.

What were the results of the concentration of financial and economic policy in Europe?  We are seeing them right now.  Iceland, Greece and now Spain, Portugal and England are in shambles.  Why?  Because financial homogenization is not meant to provide stable economies and sound policies, but to tighten controls and carry out policies that will allow the bankers even more.  The goal of the bankers has never been to have a stable economy with sound monetary policy, because in that kind of world they have less control and the wealth is not concentrated in their hands.

Let’s look at another example history provides us:  The creation and adoption of globalist policies like the free trade agreements.  NAFTA, CAFTA, GATT to mention a few, were the troops on the ground for the bankers.  The end of the industrial world, the end of Capitalism -as it successfully worked for some time-, gave way to open borders for cheap, toxic products to flow and illegal aliens to migrate.  Not only did the free-trade agreements ended industry, but also annihilated the social safety net in the nations of the western world.  While cities’ and towns’ monies were robbed and divested to imaginary financial products, illegal aliens sucked dry the already battered social services in every nation of the Americas and Europe.

Nowadays, the most influential politicians and pop culture stars plead for the nations to disrespect their constitutions and laws by allowing not only free-trade agreements, but the continuous flow of illegals through every possible place at the borders.  Enforcing immigration and constitutional laws is seen as racist and those proposing legal immigration are labeled as unjust, inhumane and simply lunatics.  This is exactly the result the banking globalists hoped for.  Dividing and conquering has never looked better.  Sound immigration policies are sure radical in a world where everyone unconsciously believes open borders are the normal thing and cheap slave-made goods are the best bang for their buck.

Now that we have taken a look back, let’s take a look forward.  What would a world with more concentrated power and control in the hands of the makers of the current crisis look like?  Let’s be optimistic and say it could not look better, it will not look better.  The centralization of power and governance at regional levels is what caused the mess we are in right now, so further centralization in the hands of those who financed Hitler, Mao, Stalin, Noriega, Pinochet, Saddam and who now control and finance the shadow governments of the United States, Great Britain, Asia and Africa, will spin the world even more out of control.  For their benefit, of course.  History doesn’t lie, does it?

Those who promised the end of wars, only brought more of it, and those who promised financial stability only created more inequality, poverty and misery.  Would you trust your house keys to the thief who stands outside your property to take care of it?  You wouldn’t.  You shouldn’t.  In the next election, wherever you live, vote yourself in and vote the crooks out.  That is the only way to defeat their agenda of conquest and slavery.  Many people are already actively working to end the global tyranny they created decades ago, so you are not alone.

Now, enough talk!  Let’s act!  Next, there is a list of some of the corporations in fraudulently in charge of the world today.  I am hoping you can deny them the privilege of running your life.  Stop using, buying or in any way consuming their products.  Let’s use their globalism against them.  A global boycott of their cheap, toxic and fraudulent products will be the first step.

Disney                              Adidas                         Time Warner                  IBM

Merck                              Napa                              Holiday Inn                    ACE

Old Navy                        Ford                              Seven Eleven                  USPS

Comcast                         Chevrolet                    Citgo                                  VISA

CNN                                 Dyncorp                       Pepsi                                  Chevron

Coca Cola                      True Value                   Kraft                                  Chrysler

Exxon Mobile             General Electric         Starbucks                        Westinghouse

Taco Bell                       Wells Fargo                  America Online             KFC

NBC Universal            American Airlines    Royal Dutch Shell         Bank of America

CBS                                  The Carlyle Group    GAP                                     Master Card

Master Card                Stop&Shop                   HBO                                     ABC

Nike                               Wal Mart                       Jiffy Lube                          JP Morgan

GM                                 Volkswagen                 Fox News Channel        Monsanto

Du Pont                        NASA                             Pizza Hut                           Syngenta

Microsoft                    Mc Donald’s                 Home Depot                    Safe Way

Burger King               Sony                                Dodge                                Intel

Staples                         Verizon                          Toro                                  John Deere

Firestone                    Bechtel                           MSNBC                             Goodyear

Amoco                        AT&T                               Mitsubishi                       Nestle

Feel free to suggest names of more corporations through the comment section.  Also, respond to our poll regarding corporate control of government below.

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