Less Sovereignty is the Central Bankers Solution for the Crisis

June 29, 2012

By LUIS MIRANDA | THE REAL AGENDA | JUNE 29, 2012

Everyone on the main stream seems to believe that the continuous meetings between European central bankers and government officials are seeking to save the Euro and to help the governments deal with their sovereign debts. It is common to hear on television how journalists and so-called analysts explain that their expectations include the proposal of real solutions to the crisis which immediately produce jobs and bring stability to the markets.

They just don’t get it. These meetings between central bankers and European leaders are nothing about stability, a solution to the debt problem or the creation of jobs around the euro zone. The latest agreement between the EU Council and the Prime Ministers of Italy and Spain is an example of how the bankers are in complete control. Although the media has painted the bailout of the Spanish and Italian banks as a triumph for both governments, which according to the reports “had their way” when negotiating with the bankers, the reality is they are simply following orders. It wasn’t the Spanish and Italian governments the ones who imposed the conditions that will rule the bailout, but the banks.

The rescue of the banking system in those countries is indeed a result of Italy and Spain submitting, accepting and supporting the idea that the European Central Bank will officially turn into the manager of all Euro economies. Only after Mariano Rajoy and Mario Monti accepted that condition, was that the central bankers gave the green light to ‘lend the money’ to the Spanish and Italian banks, not the other way around. The main stream media is portraying an outcome that is completely the opposite to reality by saying that Mr. Rajoy and Mr. Monti twisted German Chancellor Angela Merkel’s arm into accepting their conditions. The truth is that Merkel herself had to accept the centralization of economic planning sought by the banks as a condition not to let the EU zone collapse before the expected time, and with it drag every single nation including Germany into the rabbit hole they are all going towards in a controlled fashion.

Less sovereignty in exchange for solidarity; this is the latest talking point that emerged from European leaders to justify the loss of self-rule and the intervention of European bankers in the decision making process at the national level. Governments have publicly adopted what seems to be a socialist standing to try to sell their fiscal irresponsibility and to deviate attention from the acquisition of European nations by the central bankers who are the origin of the current financial crisis. But it is not socialism you see, it’s fascism. Countries must get more debt and surrender their sovereignty in order to solve a crisis that is not supposed to get solved, but that was created and planned to further centralize power in the hands of the bankers themselves.

Everyone who is well-informed is familiar with the World Bank and IMF’s plans to cause the current crisis, — and all the other ones that came before — how they’ve applied the same neo-feudal model throughout history to destroy economies and artificially recreate them using models for growth based on the acquisition of debt and the never-ending payments of interests on that debt. It needs to be said: This crisis is not accidental or unexpected. It was planned and executed for decades to seek a justification for a central government just as it has been promoted by the bankers and the media for the past 12 months. The result of the current negotiations in not to seek an exit to the debt problem or to encourage economic growth, but to hand even more power to the bankers.

The meeting held today where European Prime Ministers pose as the saviors is nothing else than window dressing. There is no solidarity on a proposal that intends to make nations less independent and more enslaved to the central bankers. The result that will came from the meeting held by Mariano Rajoy, Angela Merkel Mario Monti and François Hollande is further consolidation of financial power; nothing else. As explained by Joseph Stiglitz, the World Bank and the IMF pursue a policy of financial enslavement against every country by following four simple steps.

Privatization, which is more like ‘Briberization’, he told Greg Palast. Under this scheme, economies are collapsed from the inside while consolidating national assets for pennies on the dollar. Briberization yields then to the second step,  a one-size-fits-all rescue-your-economy plan, which in theory intends to rescue a country’s economy by using  capital market liberalization. This, again in theory, would allow the free flow of investment in and out of the country, but in reality it is the process through which the bankers complete the theft of resources and send them out every time a country buys into the “rescue your economy’ non-sense. As explained by Palast in his article The Globalizer who came in from the Cold, foreign monies come in to the countries for speculative acquisitions in various sectors of the economy and then leaves just as suddenly as it came. The result is the literal disappearance of a nation’s reserves in a matter of days. In order to get back some of those monies, entities like the IMF and the World Bank immediately demand that the country raise interest rates to anywhere between 30% and 80%.

Next, on step three, the bankers mandate that the government impose steep increases in the prices of basic needs such as food, water and gas. In the mid-term, the unexpected increases cause what Stiglitz calls the “The IMF riot.” During this time the bankers “turn up the heat until, finally, the whole cauldron blows up,” said Stiglitz. The bankers simply cut any and all subsidies to food and fuel for the poorest people as it happened in Argentina at the turn of the century and in Indonesia in 1998. Other examples of these riots were the ones in Bolivian riots over water prices last year and this February, the riots in Ecuador over the rise in cooking gas prices imposed by the World Bank.

Secret documents were also obtained by the BBC and The Observer which showed that the banks wanted to make the US dollar the official currency of Ecuador and by doing that, they would submit more than half of the population there under the poverty line. This is something similar to what was done in Argentina and what is being tried now in Europe. According to Stiglitz, although millions of people end up as losers under this system, there are indeed a handful of winners: The Banks. The western banks and the US Treasury make gigantic amounts of cash by infliction pain over developing nations. He cited the case of Ethiopia, where the World Bank and IMF ordered the government to ‘invest’ money on the Federal Reserve’s Treasuries which pays only 4 percent interest, while the country had to borrow money at 12 percent. Ethiopia was looted by the banks.

On step four of the bankers propose and impose the so-called Free Trade, as they did through NAFTA, CAFTA and other trade agreements. They call these programs “poverty reduction strategies”. However, all they do is open markets for a one way flow of products from powerful nations like the United States and China to the poor countries, while closing their own markets to foreign products. The almost automatic consequence of this free trade agreements is the destruction of the local production and farming since they cannot compete with the ridiculous low prices offered by corporations that have their products manufactured by slave labor in Asia and Africa.

As Greg Palast puts it, let there be no confusion about the role of the IMF, World Bank and World Trade Organization in the destruction of nation-states, private property and sovereignty, because they are just three masks that hide the faces of the monopoly men who seek to impose a centralized government model based on absolutist conditions.The results of the negotiations to supposedly save the euro zone are not such, they are just another step into the creeping arrival of world tyranny being sold as the only possible solution to deliver all of us from the consequences of “unbalanced economies”. The plans for the creation and implosion of economies were drafted long ago and the result of those practices is one and only one: World Government. This outcome, by the way, is not a solution or the solution to the current economic crisis.

When you have leaches sucking you dry, the only possible solution is to remove the leaches. The bleeding is the collapsing economy, the leaches are the central bankers, the solution is to remove them from our bodies. Nothing else has worked, nothing else will work.

Filed under Africa, Asia, English, Latin America, North America, Politics, Special Reports, World Tagged with , , , , , , , , , , , , , , , , , , , , , ,

IMF calls for Alternative Reserve Currency, Again

February 11, 2011

CNNMoney
February 11, 2011

The International Monetary Fund issued a report Thursday on a possible replacement for the dollar as the world’s reserve currency.

The IMF said Special Drawing Rights, or SDRs, could help stabilize the global financial system.

SDRs represent potential claims on the currencies of IMF members. They were created by the IMF in 1969 and can be converted into whatever currency a borrower requires at exchange rates based on a weighted basket of international currencies. The IMF typically lends countries funds denominated in SDRs

While they are not a tangible currency, some economists argue that SDRs could be used as a less volatile alternative to the U.S. dollar.

Dominique Strauss-Kahn, managing director of the IMF, acknowledged there are some “technical hurdles” involved with SDRs, but he believes they could help correct global imbalances and shore up the global financial system.

“Over time, there may also be a role for the SDR to contribute to a more stable international monetary system,” he said.

The goal is to have a reserve asset for central banks that better reflects the global economy since the dollar is vulnerable to swings in the domestic economy and changes in U.S. policy.

In addition to serving as a reserve currency, the IMF also proposed creating SDR-denominated bonds, which could reduce central banks’ dependence on U.S. Treasuries. The Fund also suggested that certain assets, such as oil and gold, which are traded in U.S. dollars, could be priced using SDRs.

Oil prices usually go up when the dollar depreciates. Supporters say using SDRs to price oil on the global market could help prevent spikes in energy prices that often occur when the dollar weakens significantly.

The dollar alternatives

Fred Bergsten, director of the Peterson Institute for International Economics, said at a conference in Washington that IMF member nations should agree to create $2 trillion worth of SDRs over the next few years.

SDRs, he said, “will further diversify the system.”

Dollar firms after starting 2011 weak

The dollar has been drifting lower so far this year as the global economy improves and investors regain their appetite for more risky assets such as stocks and commodities.

After rising above 81 in early January, the dollar index, which measures the U.S. currency against a basket of other international currencies, eased below 77 earlier this week.

However, the dollar was higher Thursday against the euro, pound and yen as disappointing corporate results weighed on stock prices following several days of gains on Wall Street. The rally in the commodities market also cooled, with the price of oil and metals backing off recent highs.

In addition, renewed concerns about the debt problems facing troubled European economies put pressure on the euro and supported the dollar. The yield on Portugal’s benchmark bond rose to a record high Wednesday, and borrowing costs for Ireland, Spain and Greece remain elevated.

“The market is shedding risk, with equities and commodities weakening and the U.S. dollar broadly stronger” said Camilla Sutton, currency strategist at Scotia Capital.

Traders were also digesting comments from Federal Reserve chairman Ben Bernanke, who told Congress Wednesday that despite a strengthening economic recovery, the unemployment rate remains high while inflation is “still quite low.”

Those remarks reaffirmed the view that “the Fed would be very slow to tighten policy given its dual mandate of price stability and employment,” analysts at Sucden Financial wrote in a research report.

Bernanke also urged lawmakers to come up with a “credible plan” to bring down “unsustainable” federal budget deficits.

“We expect that the outlook for the U.S. fiscal position will weigh heavily on the U.S. dollar in the quarters ahead,” said Sutton. In the near-term, however, she said “a strengthening growth profile” could help provide “a temporary period of dollar strength.”

Filed under World Tagged with , , , , , , , , , , , , , , , , , , ,

The Revolution the Globalists Yearned For

February 5, 2011

How the main stream media sell lies, the people are co-opted and the globalists tighten up their grip

By Luis R. Miranda
The Real Agenda
February 5, 2010

Let me go straight to the point. Glenn Beck is not a patriot or anything close to it. Beck is a PR machine used to sell advertising on Fox News. Like him, there are many other ones in the main stream media, just as there are many pundits who bend the truth as they see fit. So why is Glenn Beck speaking somehow truthfully and precisely about what’s happening in Egypt?

Many people in the world have woken up to reality, and during that awakening they turned down the lies and disinformation the main stream media offers. So the dinosaur media employs a ‘new tactic’. Such ‘new tactic’ involves seeming patriotic and telling viewers, readers and listeners some truths, which they then surround with lots of false or partly false information. This is done in an attempt to rescue themselves from the hole they have fallen into since people no longer trust them.

In the reporting or discussion of any issue, the main stream media tell people 10 percent of the truth and the other 90 percent are filled with lies. That is where the trap is. It is a psychological operation to gain back the trust of the audience, but most people don’t see it or understand it that way. The media know who the audience is, how they think and how to reach out to them. They employ the sweetest combinations of words to attract and maintain their usual followers and try to get new ones everyday.

This is why Glenn Beck and others sometimes tell people the whole truth, only to tell them the complete opposite a day or two later. Examples of this are needless as anyone can see it not only on Fox, but also on CNN, MSNBC, CBS, ABC and popular newspapers and magazines that mask their agenda with cute faces, smart looking hosts and slick studios. But the overall goal is to sell lies. Make no mistake about it.

Exactly as Glenn Beck presented it on his show, the situation in Egypt today is a carbon copy of what happened in Iran in 1979. But no one seems to understand it fully well, because no one cares enough. No one remembers Iran in 1979. Unrest in the middle east is endless and older than my grandparents. But it is important to learn what sparks such unrest, violence, persecution and destruction. Let’s just cite a few reasons why unrest takes place: economic sanctions, commercial tariffs, austerity measures, hunger, war, oppression, corruption, slavery, you name it.

The world is not about to be dominated by a few hands like Beck pointed out in one of his shows. It has been in the hands of a handful of people for at least a century. The media does not get it, says Beck. Another lie. The media gets it well, they just don’t tell you. Beck as well as other talking heads know that if the media told the masses how things really work, we would see Egypt’s situation repeating itself not only in the middle east, but everywhere else. Indeed, Egypt’s revolution may have started as a righteous movement to dethrone a dictator, but it certainly hasn’t evolved as such.

Beck is right to say that the conflict in the Middle East is about destroying the West, but hasn’t it been always about that? Haven’t the western military and economic powers through their military industrial complex always fired up conflict in the East to have an excuse to fill their pockets with money and amass control of the resources and the people? Nothing new here then.

Why does the East allegedly hates the West?

The East doesn’t hate the West. That is another lie Glenn Beck managed to sneak in. The globalists hate both the East and the West, and they want to set them both on fire so they achieve full control of both hemispheres, as they planned originally. The conflict between civilizations has always been spurred by small groups of people seeking to advance empires and amass control while oppressing the people. So the citizens of the East do not hate the citizens of the West. The puppet dictators of the East hate their eastern folks, because they sell their lives to the controllers in the West. The puppets of the West also hate their folks, because they also sell their people to the globalists. All the religious and cultural conflict is caused by the introduction of fallacies people happen to believe, such as social justice, multiculturalism and religious radicalism and by phrases like “you are either with us, or you are with the enemy”.

Beck has the boldness to blame the progressives for this disaster that has been going on for longer that what any progressive could imagine. Tyranny and corruption is not a progressive feature, it’s a historical goal of the globalists. In order to achieve it, they employ different names, policies and more important than that, they employ different social groups, religions and puppets who follow different ideologies. This way they can always tie all the knots. The same policies Beck describes as originated in the progressive movement, were also produced and executed by alleged conservatives. Both of these groups produced them and executed them, because they are both controlled and co-opted by globalists and globalist organizations and foundations.

Glenn Beck correctly asserts that much of the hatred from the East is caused by western hypocrisy, especially American hypocrisy. In part this is true. The only BUT is that it has not been American or Western hypocrisy. The United States as well as other G-8 and G-20 nations are all directed by puppet governments that carry out the plans of the globalists. Therefore, the people responsible for such hypocrisy are the globalists in control, not the Americans, French, British, Germans or Greek people. This is the difference between Beck’s way of assigning blame and actually seeing behind the curtain and recognizing the puppet masters.

Credit is due to the main stream media because they have been able to maintain the puppet masters hidden behind that curtain. Just as Glenn Beck tried to do on his show on January 31, the corporate media specializes in lying with a straight face. And no one can have more of a straight face than Beck himself when he lies. While detailing what he called the coming insurrection, Beck criticized Mubarak for torturing, kidnapping, spying on, oppressing and abusing the Egyptian people. He did not speak up, though when George W. Bush -another puppet president- did exactly the same during his

eight-year reign of terror. However, the sham is over. Many people learned to see through the lies and disinformation to recognize that their oppressors do not live in their countries. They also learnt that the economic and political agendas that have caused their misery and pain along with the death of thousands or millions of their people are ordered from abroad. They don’t want another puppet, they want to take it upon themselves to build the country they want for themselves and their families. But the only way to achieve this is liberating themselves from the chains that have kept them from being free.

As Ron Paul has pointed out, it is the American occupation of the Middle East what has served as a great excuse for the formation of radical groups, many of them supported by the very same western powers that claim to be heading the fight against terrorism. Among them, the Muslim Brotherhood, a creation of British intelligence agencies.

Civilization wars are not due to the fact some are free and prosperous and others aren’t. The bloodiest wars in history were not due to religious diversity, but how religious differences and religious movements have been used to create hatred among the people.

The military industrial complex, has created and propelled dictators of all colors and shapes into power for centuries and its members and pundits have done everything but confess it in public. Zbigniew Brzezinski, not only showed his concern about the rise of the people worldwide against the globalist agenda, but also admitted he personally was responsible for the creation of eastern dictators. Mao Tse Tung was taken to power by globalists and so was Adolf Hitler. The number of deaths due to the policies and persecution these two tyrants carried out are conservatively counted today by the tens of millions.

Currently, the globalist-controlled United States supports dictators in Egypt, Saudi Arabia, Tunisia, Yemen, and puppet presidents in all of Latin America, Europe and other regions of the world. Support to these dictators and puppet presidents are given in a diversity of ways. Egypt receives billions of dollars a year, much of it in military aid. Yemen gets a big chunk of USAID’s budget, too. A lot of it, says the organization, is for programs related to ‘peace and security’. And when the aid does not go in the form of cash, as in Saudi Arabia’s case, it is planned and delivered through arms treaties.

Egypt 2011 is Iran in 1979

Let’s explain this as clearly as possible. Egypt’s revolution going on today is a copy of what happened in Iran in the late 1970′s. Hosni Mubarack is a puppet of the international crime syndicate known as the globalists. The globalists are a group of corporate corrupt personalities who control almost every aspect of our lives today. They have achieved this by creating and imposing a scheme to have a planned controlled economy, with planned controlled development, growth, education -or should I say planned training- among other things. This planned scheme allowed them to maintain and tighten control over politics, economics, monetary and fiscal policy, research and use of natural resources, birth control, entertainment, and of course news media.

Just as it wasn’t in Iran in 1979, the conflict developing all over the Middle East is not about democracy. It is the same scenario that played out in Iran, where students were cheated into supporting a revolution, but not the people’s revolution. The Iranian revolution wasn’t about freedom either, and its current state is a faithful example of that. Before looking the way it does today, Iran was one the United States strongest allies, just like Egypt is today. Jimmy Carter even spent time toasting with the Shah of Iran in a photo-op that represented how prosperous Iran was. The Shah was a dictator and a puppet, just as Mubarak is today. He tortured and oppressed thousands of people. Just as it happens in Egypt today, student groups lifted the revolution and established a so called moderate regime.

So let’s see… In both cases, the revolution was led by co-opted students. In both cases they wanted to end the reign of a brutal dictator and in both cases they achieved none. In fact, they ended being more oppressed the ever before. In the case of Iran, a month after the revolution for ‘freedom’ was completed, the U.S. decided the Shah wasn’t working out and islamist religious extremists took over power with the Ayatollah Komeni at the head. From that revolution emerged the hostage crisis at the U.S. Embassy, where at least 60 people were held for over a year.

Back to 2011 now. The solution the U.S. has been cooking for a couple of years is to install Mohammed ElBaradei as the saviour of Egypt. The new puppet who will do the due diligence of the globalists, just as Mubarak did. Likewise the puppets in Jordan, Morocco, Sudan, Pakistan and Afghanistan do today. Just as Barack Obama does it in the United States and Inacio Da Silva did it up until January in Brazil.

Today, along with Egypt, countries like Algeria, Morocco, Libia, Sudan, Jordan, Syria and Pakistan exhibit popular revolutions. All of them are governed by dictators, who puppet U.S. governments have sponsored through the years. Why is then the very same U.S. now trying to end those regimes? Because globalists are the least trustworthy people that exist out there. They stop at nothing to advance their agenda. They will take out whoever they need to in order to increase their control and their wealth.

The very same people in power are the ones causing and co-opting the so called insurrection in Egypt, Yemen, Turkey, Jordan, Saudi Arabia and other countries around the world. They have always used popular movements to bamboozle people into bringing about ‘change’. This is clearer in areas of the world where people are tired of being slaves, but do not know how to pursue real change. That change is not understood by the masses, who simply go along with the sham. Ideas like social justice and equality are only lies that are planted to attract people’s attention. In reality, the goal is to establish a communist system based on wealth re-distribution. But that wealth will not end in the hands of those who need it most. Quite the opposite. It will end in the hands of the globalists themselves. These globalists control it all from abroad, where they can never be seen or held accountable. Until now.

Late in 2010, people in France, Greece, Ireland and Italy had expressed their anger on the streets regarding their goverments’ austerity plans, job and salary cuts as well as the confiscation of public and private pension funds.

What does the globalists’ hatred entail?

It is the globalist hatred towards the people, real capitalism and free markets which has destroyed a system that although imperfect, could have been improved to enhance living conditions for many more millions of people. But the deregulation policies allowed the globalists to do as they pleased and their greed grew out of control. So why would the globalists want to effectively collapse the world by ‘setting fires’ all over Africa, the Middle East, Europe and perhaps Asia? That is not the right question to ask. The right question is, why wouldn’t they? It would give them the perfect excuse to launch their long awaited military assault on the populations and the imposition of martial law, curfews, militarization of basically every single corner of the planet under the pretext of national security or international security. They could ban traveling, commerce and in fact halt all economic activity. All in the name of peace and security, of course. Under the START Treaty, the world’s army could finally be shipped out to carry on with their mission to maintain ‘peace and security’ wherever it’s needed, and through the emergency clause make every single nation hand out their weapons to the United Nations.

Additionally, they could ram through their new regulations regarding food production, energy usage -with smart grid technology-, global warming laws, an official ban on certain speech, the establishment of free speech zones, further regulation and control of the main stream media, censorship of alternative media, and so on. As things stand now, food prices have increased -only in the last year- up to 3.4 percent in many countries of the western world. Food of course is one of the globalists’ favorite tool to enslave people. Hunger is one of the reasons why many poor and middle class citizens have risen up. Whoever controls food production and distribution holds the rest hostage. The push for a centralized harmonized set of standards under Codex Alimentarius give almost complete control to governments when it comes to producing food, while banning small farm production, use of supplements and alternative medicine.

Under recently approved energy laws, countries whose governments support the carbon emissions scam, mandate that people use a certain amount of energy, impose restrictions on several kinds of energy production, charge taxes and fees on small and mid-size businesses according to the type of energy they use, and in other cases obligate them to purchase carbon credits. With the new system being pushed now, governments will use smart greed technology to regulate how much energy citizens and small businesses use, while exempting large corporations. Government grants will facilitate the purchase and installation of smart meters governments will remotely control to decide who can use energy, how much of it and when. Security professionals have questioned the use of these meters, but the bureaucracy has found a way around criticism to carry out the imposition of the meters.

If you happen to be one of those who hates government intervention, or simply prefer to maintain your privacy intact, you’re out of luck, too. Protesting against government control of everything will get harder by the day. Free speech is another of our rights that may turn into a luxury. As we have witnessed in North America, Latin America, Africa and the Middle East, dictators and globalists don’t like public opposition. They, therefore, have established the so called ‘free speech zones’ at colleges and universities as well as on city streets. These are areas mostly out of everyone else’s sight and mind, turning public protesting innocuous. Those who dare not abide by the illegal new speech rules are immediately quiet down by pepper spray, police dogs or sound canyons.

Free speech wouldn’t be curtailed completely unless the government controlled the main stream media. How do they do that? Not by sending a pack of goons to take over the broadcasts, radio waves or printing presses. Simply by bailing them out with taxpayer money. And when it comes to the alternative media such as blogs, news websites, small production companies and anyone else for that matter, they’ve been working on the famous internet ‘kill switch’. As early as last September, engineers as well as security and privacy advocates warned about a bill circulating in the U.S. Congress that would effectively impose internet censorship. The bill known as the Combating Online Infringement and Counterfeits Act was sponsored by members of both the Republican and Democratic parties. “If this bill had been law five or 10 years ago, there’s a good chance that YouTube would no longer be around,” said Peter Eckersley, senior staff technologist at the Electronic Frontier Foundation. The bill has nothing to do with copyright infringement, of course, but with government control of the internet and censorship of anyone the bureaucrats deem ‘dangerous’. This bill, approved by the Senate’s Judiciary Committee with a vote of 19-0 never received a full vote, but it will eventually come back around, just as the Cybersecurity Act did.

So what can we take out of all this?

First, be prepared. Be self-sufficient. Don’t expect your government to come to your aid when you need food to eat, water to drink and energy to survive a chaotic situation. The bureaucrats simply won’t come. Governments, especially big governments, are unable to help everyone when disasters, chaos, violence and unrest spark. In many cases, governments themselves -at the behest of the globalists- cause all that unrest and chaos and more often than not, they don’t even intend to help the people in need. Being prepared is key to surviving any difficult situation. Being proactive, not reactive, is the solution. So, be self-sufficient. Don’t wait until grocery stores run out of food to start storing non-perishable goods. Some stores are already out of food due to skyrocketing oil prices, artificial scarcity and artificial currency instability. Be independent. Have your own or a communal water well. Organize small neighborhood groups to support each other. Your family’s chances of making it through a crisis and to successfully deal with food and water scarcity are yours to improve. It takes only weeks for hungry people to become violent when food and water are scarce or absent. It takes only months for desperate people to kill others in order to survive. Finally, by no means think that what is going on in the Middle East today cannot happen where you live tomorrow. That would be the biggest mistake you could ever make.

Filed under World Tagged with , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

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.

Filed under World Tagged with , , , , , , , , , ,

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?

Filed under World Tagged with , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

← Older posts

Related Links:

Togel178

Pedetogel

Sabatoto

Togel279

Togel158

Colok178

Novaslot88

Lain-Lain

Partner Links