NWO's Plans For 1-World Currency Moves Into Media Spotlight China & Russia To Propose New 1-World Monetary System
(A-O Newswire) - Last week, Moscow leaked word that the Russian government would propose the idea of a new international (1-World) monetary system that would replace the U.S. dollar as the world's reserve currency. As this week began, China's governor of its central bank wrote an editorial commentary endorsing the idea of a new international reserve currency.
A-O Readers may be asking: "What is a reserve currency?" The answer is that a reserve currency is the unit in which a government holds its reserves. But Zhou said the proposed new currency also should be used for trade, investment, pricing commodities and corporate bookkeeping.
The Chinese banker's proposal was an indication of Beijing’s fears that actions being taken by President Obama to save the domestic US economy would have a negative impact on China. The governor's written article gave a pointed critique of the current dollar-dominated monetary system. Governor Zhour Xiaochuan wrote:
“The outbreak of the [current] crisis and its spillover to the entire world reflected the inherent vulnerabilities and systemic risks in the existing international monetary system."
To replace the current system, Mr Zhou suggested expanding the role of special drawing rights, which were introduced by the IMF in 1969 to support the Bretton Woods fixed exchange rate regime but became less relevant once that collapsed in the 1970s.
The concept of SDRs is based on a basket of four currencies – the US dollar, yen, euro and sterling – and they are used largely as a unit of account by the IMF and some other international organisations. At the moment, it is nothing but an obscure, seldom used accounting principle by third-world debtor nations.
HOW?
The Chinese proposal, however, would expand the basket of currencies forming the basis of SDR valuation to all major economies and set up a settlement system between SDRs and other currencies so they could be used in international trade and financial transactions.
Countries would entrust a portion of their SDR reserves to the IMF to manage collectively on their behalf and SDRs would gradually replace existing reserve currencies.
There is also serious talk behind the scenes within the NWO crowd for this concept to be a digital or electronic currency that would be incoporated into the current "bar code" system. It would eliminate the need for printing paper money and eliminating the need to mint coins. Some proposals also suggest somehow tying the valuation of gold into the equation but that's been hotly debated within the higher echelon of the NWO.
Are the Chinese just worried about the sagging value of the $1.4 trillion in U.S. Treasuries they hold? Clearly they are, especially in the light of President Obama's spending proposals and US budget projections for the next 10 years. The Obama proposals are perceived by the Chinese as being highly inflationay and thus water down the value of their current US Government treasury holdings.
Chinese officials were further miffed a few days later when Federal Reserve Chairman Ben Bernanke announced that the Fed would buy hundreds of billions in Treasury securities -- which, China's leaders fear, could trigger inflation, thereby further decreasing the value of China's portfolio. (China's foreign portfolio apparently already has taken a huge hit. Major foreign stock plays and investments made in 2007 and 2008 have, by all accounts, lost billions.)
NWO IS PUSHING THIS CHANGE
A UN Panel last week also called for a new world currency systems. A news story in the Moscow Times last week reported that the Kremlin also intends to call for a new common global currency at the G-20 Summit in London on April 2. These are not the only calls for a new system.
The leaders of Kazahkstan, Iran, Libya, Britain and France have also called for a new global order with a revitalized currency system. Similar views are being expressed around the world in nations such as Thailand, Japan, Turkey. The Gulf Cooperation Council (Persian Gulf nations) announced that their intended plans for a joint-common currency were being shelved in anticipation that a single, 1-world currency might be proposed at the G-20 Summit.
What is now developing appears to be a contagious quest to throw open the doors for a new 1-world currency that is the next vital step for developing a single, One World Government - also known as a "New World Order."
Obama Opposes Currency Shift
At President Obama's news conference Tuesday night, March 24, the president was asked for his position on the proposed shift by the world away from the US Dollar as the world's reserve currency. The President announced his determined opposition to any such move.
The dollar is extraordinarily strong right now," said the president during his prime-time press conference. "The reason the dollar is strong right now is because investors consider the United States the strongest economy in the world, with the most stable political system in the world. So, you don't have to take my word for it.
"I think there is a great deal of confidence that ultimately, although we are going through a rough patch, that the prospects for a world economy are very, very strong."
Obama also linked his administration's popularity around the world to a growing "confidence" in America's "ability to assert global leadership."
Off mic a reporter asked, "What about a global currency?"
"No, I don't support a global currency," said Obama flatly.
US Fed/Treasury Vow To Fight Change
Just hours before the President spoke, both Federal Reserve chief Ben Bernanke and Treasury Secretary Timothy Geithner said that they would not allow the dollar to be stripped of the premier status, as suggested by the head of China's central bank. The two financial chieftans made their remarks about China's call for change during Congressional testimony on Capitol Hill on Tuesday, March 24.
Impact on Biblical Prophecy
So what does all of this mean to those of us who are Bible Prophecy watchers?
We could be on the edge of a momentous move that in two weeks could be the start of what will eventually become the 1-World Government of the Antichrist. It is what the New World Order agenda has been about all along. The Illuminists within the NWO movement have long signalled their intended goal was to have such a government come into being by the year 2012. It would seem that 2009 then IS the year they want and need to take the next giant step "for mankind" to unify the planet.
The question now is what will happen at the G-20 in regards to addressing the international monetary system and potential changes that would eliminate America's dollar as the world's singular reserve currency. From all I've been able to gather, such a move cannot be done in the blink of an eye. It will require a transition period of undetermined length. I suspect a year or two will be required. This upcoming G-20 Summit in London on April 2, 2009 will at least likely start that ball rolling. More than likely, some sort of planning committee will be formed to investigate and research the details further and or to also begin some sort of transition phase.
(A-O Newswire) - Last week, Moscow leaked word that the Russian government would propose the idea of a new international (1-World) monetary system that would replace the U.S. dollar as the world's reserve currency. As this week began, China's governor of its central bank wrote an editorial commentary endorsing the idea of a new international reserve currency.
A-O Readers may be asking: "What is a reserve currency?" The answer is that a reserve currency is the unit in which a government holds its reserves. But Zhou said the proposed new currency also should be used for trade, investment, pricing commodities and corporate bookkeeping.
The Chinese banker's proposal was an indication of Beijing’s fears that actions being taken by President Obama to save the domestic US economy would have a negative impact on China. The governor's written article gave a pointed critique of the current dollar-dominated monetary system. Governor Zhour Xiaochuan wrote:
“The outbreak of the [current] crisis and its spillover to the entire world reflected the inherent vulnerabilities and systemic risks in the existing international monetary system."
To replace the current system, Mr Zhou suggested expanding the role of special drawing rights, which were introduced by the IMF in 1969 to support the Bretton Woods fixed exchange rate regime but became less relevant once that collapsed in the 1970s.
The concept of SDRs is based on a basket of four currencies – the US dollar, yen, euro and sterling – and they are used largely as a unit of account by the IMF and some other international organisations. At the moment, it is nothing but an obscure, seldom used accounting principle by third-world debtor nations.
HOW?
The Chinese proposal, however, would expand the basket of currencies forming the basis of SDR valuation to all major economies and set up a settlement system between SDRs and other currencies so they could be used in international trade and financial transactions.
Countries would entrust a portion of their SDR reserves to the IMF to manage collectively on their behalf and SDRs would gradually replace existing reserve currencies.
There is also serious talk behind the scenes within the NWO crowd for this concept to be a digital or electronic currency that would be incoporated into the current "bar code" system. It would eliminate the need for printing paper money and eliminating the need to mint coins. Some proposals also suggest somehow tying the valuation of gold into the equation but that's been hotly debated within the higher echelon of the NWO.
Are the Chinese just worried about the sagging value of the $1.4 trillion in U.S. Treasuries they hold? Clearly they are, especially in the light of President Obama's spending proposals and US budget projections for the next 10 years. The Obama proposals are perceived by the Chinese as being highly inflationay and thus water down the value of their current US Government treasury holdings.
Chinese officials were further miffed a few days later when Federal Reserve Chairman Ben Bernanke announced that the Fed would buy hundreds of billions in Treasury securities -- which, China's leaders fear, could trigger inflation, thereby further decreasing the value of China's portfolio. (China's foreign portfolio apparently already has taken a huge hit. Major foreign stock plays and investments made in 2007 and 2008 have, by all accounts, lost billions.)
NWO IS PUSHING THIS CHANGE
A UN Panel last week also called for a new world currency systems. A news story in the Moscow Times last week reported that the Kremlin also intends to call for a new common global currency at the G-20 Summit in London on April 2. These are not the only calls for a new system.
The leaders of Kazahkstan, Iran, Libya, Britain and France have also called for a new global order with a revitalized currency system. Similar views are being expressed around the world in nations such as Thailand, Japan, Turkey. The Gulf Cooperation Council (Persian Gulf nations) announced that their intended plans for a joint-common currency were being shelved in anticipation that a single, 1-world currency might be proposed at the G-20 Summit.
What is now developing appears to be a contagious quest to throw open the doors for a new 1-world currency that is the next vital step for developing a single, One World Government - also known as a "New World Order."
Obama Opposes Currency Shift
At President Obama's news conference Tuesday night, March 24, the president was asked for his position on the proposed shift by the world away from the US Dollar as the world's reserve currency. The President announced his determined opposition to any such move.
The dollar is extraordinarily strong right now," said the president during his prime-time press conference. "The reason the dollar is strong right now is because investors consider the United States the strongest economy in the world, with the most stable political system in the world. So, you don't have to take my word for it.
"I think there is a great deal of confidence that ultimately, although we are going through a rough patch, that the prospects for a world economy are very, very strong."
Obama also linked his administration's popularity around the world to a growing "confidence" in America's "ability to assert global leadership."
Off mic a reporter asked, "What about a global currency?"
"No, I don't support a global currency," said Obama flatly.
US Fed/Treasury Vow To Fight Change
Just hours before the President spoke, both Federal Reserve chief Ben Bernanke and Treasury Secretary Timothy Geithner said that they would not allow the dollar to be stripped of the premier status, as suggested by the head of China's central bank. The two financial chieftans made their remarks about China's call for change during Congressional testimony on Capitol Hill on Tuesday, March 24.
Impact on Biblical Prophecy
So what does all of this mean to those of us who are Bible Prophecy watchers?
We could be on the edge of a momentous move that in two weeks could be the start of what will eventually become the 1-World Government of the Antichrist. It is what the New World Order agenda has been about all along. The Illuminists within the NWO movement have long signalled their intended goal was to have such a government come into being by the year 2012. It would seem that 2009 then IS the year they want and need to take the next giant step "for mankind" to unify the planet.
The question now is what will happen at the G-20 in regards to addressing the international monetary system and potential changes that would eliminate America's dollar as the world's singular reserve currency. From all I've been able to gather, such a move cannot be done in the blink of an eye. It will require a transition period of undetermined length. I suspect a year or two will be required. This upcoming G-20 Summit in London on April 2, 2009 will at least likely start that ball rolling. More than likely, some sort of planning committee will be formed to investigate and research the details further and or to also begin some sort of transition phase.
posted by shummer60 at Wednesday, March 25, 2009
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