Community | February 11, 2011 | 95 comments

Shocking New IMF Report: The U.S. Dollar Needs To Be Replaced As The World Reserve Currency And SDRs “Could Constitute An Embryo Of Global Currency”

source: http://theeconomiccollapseblog.com/archives/shocking-new-imf-report-the-u-s-dollar-needs-to-...

Image
Dagum
The IMF is trying to move the world away from the U.S. dollar and towards a global currency once again. In a new report entitled "Enhancing International Monetary Stability—A Role for the SDR", the IMF details the "problems" with having the U.S. dollar as the reserve currency of the globe and the IMF discusses the potential for a larger role for SDRs (Special Drawing Rights). But the IMF certainly does not view SDRs as the "final solution" to global currency problems. Rather, the IMF considers SDRs to be a transitional phase between what we have now and a new world currency. In this newly published report, the IMF makes this point very clearly: "In the even longer run, if there were political willingness to do so, these securities could constitute an embryo of global currency." Yes, you read that correctly. The SDR is supposed to be "an embryo" from which a global currency will one day develop. So what about the U.S. dollar and other national currencies? Well, they would just end up fading away.

CNN clearly understands what the IMF is trying to accomplish with this new report. The following is how CNN's recent story about the new IMF report begins....

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

That is exactly what the IMF intends to do.

They intend to have SDRs replace the U.S. dollar as the world reserve currency.

So exactly what are SDRs?

Well, "SDR" is short for Special Drawing Rights. It is a synthetic currency unit that is made up of a basket of currencies...


Continued at: http://theeconomiccollapseblog.com/archives/shocking-new-imf-report-the-u-s-doll...
  1. groups:
    Community,   World Politics,   Business News & Analysis,   Monetary Matters
  2. tags:
    International Monetary Fund,  IMF,  fiat,  Com. Schno,  2 more
  3.     
    |

95 comments // Shocking New IMF Report: The U.S. Dollar Needs To Be Replaced As The World Reserve Currency And SDRs “Could Constitute An Embryo Of Global Currency”

  • PressCore
    • +1
      PressCore  

    • http://economy.be

      We need a non national currency to use in the USA. On the local
      level we need a community commonwealth currency to rebuild the
      jobs in our local communities from the inside out again. It's been
      found that every time you spend your dollars in your local community
      they double in value because the more that payment unit circulates
      in other local hands the more it benefits more and more of only your
      neighbors. In Bill McKibben's book Deep Economy he talks of how
      this idea has been reinvented. So long as it's had the backing of the
      local village, town, city Government, so that you could use it to pay
      your local property taxes, it's worked exceptionaly well. Because it
      can't be manipulated by central Banksters it doesn't inflate/deflate.
      Because it can't be exchanged for cash, it can't be exported to other
      countries abroad. And since it can't be, neither can the jobs it funds.

      In colonial America, the further you lived inland from the coast, the
      more you had to depend on only what your neighorhood community
      could produce for you to trade for. If they couldn't produce it for you
      to consume, or you for yourself, then you simply made do without it.
      It's mostly with the advent of interstate highways that we've become
      used to depending on foreign oil to fuel diesel engine trucks to
      export our essential trade away from keeping the commonwealth
      here at home. That has made our work product backed money
      worth less in it's buying power because of the transport costs'
      overhead...And it's diminished the commonwealth doubling in
      value effect, as we've no longer been working for each other.

      Once the 70s rolled around, the USA was already beyond peak
      oil production, and the inflation rate increased 1000 % during
      the next 40 years to now. Since the Corporatists have no patriotism,
      and have exported the USA's jobs to depress wages, and keep
      everyone they can't payoff under their thumb, they've also been
      screwing the dollar. They want a worldwide central bank they control.
      We know the earth is running out of oil & water which has driven
      our food production, and our entire economy. We've been heading
      in the wrong direction, and sold a bill of goods that globalism is the
      desired goal. That shopping at Walmart will be the solution to all our
      trade problems. Why many people are learning to speak Chinese.
      It's still not too late to change things around. But not with the same
      business as usual shitbags in the driver's seat, asleep at the wheel.

    • 1 year ago
  • LivingPong
    • 0
      LivingPong  

    • What about water if you want a global currency! If the polar ice caps melt then those who get flooded will have plenty to trade. Maybe I'll write a song about that. Also, every time you take a leak, you are cashing in. It's pure brilliance, and we haven't even gotten to the pure gold yet. Can you guess what that is?

    • 1 year ago
  • alexandrek
  • PressCore
    • 0
      PressCore  
    • alexandrek:

      We know the way they think. One man one vote. One man one dollar.
      One dollar one tracking chip. One man one jail cell. Their villian hero
      came to power in Germany in the 1930s with the same insane ambition.
      They can't learn to simply control themselves & their greed, so instead
      they seek to control the world. Lame.

    • 1 year ago
  • luzer
  • GENERALNATTY
  • keithponder
  • LivingPong
    • 0
      LivingPong  

    • YAY! air TAX sounds great too. IMF we love you. Please be my new GOD. All bow down to the new Queen International Monetary Fund!

    • 1 year ago
  • fairandbiased
    • +2
      fairandbiased  
    • Image

    • "Oh, and while we're at it, we don't need that constitution and bill of rights thingy either....like that outdated rule of law that was supposed to apply to everyone, it's standing in the way of serious money makin' for us ruling elites".
      "If you serfs would just line up over there and proceed to the "showers", all of your questions and concerns will be addressed......move along, move along....

    • 1 year ago
  • ArchDruid
  • fairandbiased
    • +1
      fairandbiased  
    • ArchDruid:

      I'm sure no matter what one says in public, there will always be someone offended.
      Those who ignore history are doomed to repeat it. I have no doubt that the mass murderers and torturers within our own government would like to keep any discussions concerning their activities to a minimum, and would use just such an argument to achieve that end. No one owns the rights to discussion of historical events, no matter how many times they claim they do.

    • 1 year ago
  • ApeFace
  • artemis6
  • shanklinmike
  • Schnookums
  • ramanan50
    • +1
      ramanan50  

    • US economy has been on the slide for quite sometime now.

      High inflation,printing of paper currency indiscriminately to fight inflation,living on plastic money, unnecessary military expenses,unmanageable imports and living beyond means through credit cards are some of the reasons for this stste of affairs.

      Read my blogs under economy and US for more.

    • 1 year ago
  • Schnookums
  • ramanan50
    • +1
      ramanan50  
    • Schnookums:

      Keynesian economics- only God can understand.
      Inflation and deflation, one fueling the other.
      Spend what you have.
      Other than this every thing will be conjecture and chaos.

    • 1 year ago
  • Schnookums
  • ramanan50
  • shanklinmike
    • 0
      shanklinmike  
    • Schnookums:

      How can you call them private banks when they are backed with government coercion?!? That's like calling Halliburton free market....which is complete bunk. Instead, this is statist corporatism, not free market capitalism that has led to government fiat currency.

      There is no such thing as a truly private sector in statism.

    • 1 year ago
  • Schnookums
    • +2
      Schnookums  
    • shanklinmike:

      Good points.

      I use 'private' specifically to drive the point home that the US Federal Reserve is a private corporation and no more 'federal' than Federal Express.

      http://www.globalresearch.ca/index.php?context=va&aid=8518

      Case in point, we do not have a government fiat currency. We have a fiat currency issued by private banks. Big, big difference. A government fiat currency would at least have a first-pass benefit to the citizenry, rather than private financial institutions.

      One thing I'm sure we can agree on; Free market capitalism died a long time ago.

    • 1 year ago
  • LivingPong
    • +1
      LivingPong  
    • Schnookums:

      One of the Australian Prime Ministers took the money from the Australian Reserve Bank so the greedy British banks couldn't take it for war loan repayments after WW2.

      Banks can create money out of thin air. The whole banking system is the biggest scam in world history. Rather than print money, today it can just be made electronically. Digital wealth created from nothing, then gambled on the stock market, and finally, after losing a bet, ask the the poor to repay it. What a heart warming and generous spirit they must have.

    • 1 year ago
  • PoliticalAmazon
    • 0
      PoliticalAmazon  

    • Fuck a duck. I knew this would happen.

      If Obama doesn't get with the freaking program, and stop wasting millions for his vanity war in Afghanistan, instead doing what he promised he'd do first--focus on jobs and our economy--we may end up having our resources taken over by the IMF. That means, if our economy is enough of a threat to the global economy, the IMF will sell off our resources for pennies on the dollar. The highest debtor usually gets first dibs. How does Chinese strip-mining in Yosemite sound to you?

    • 1 year ago
  • Cruzankenny
    • 0
      Cruzankenny  
    • PoliticalAmazon:

      Why is Afghanistan 'Obama's' war?
      And our resources don't back up the dollar. The government's ability to tax and our projected GDP are the basis for T-Bonds. Worse case scenario is our treasury bonds become worthless.

    • 1 year ago
  • shanklinmike
  • therealpixie
  • keithponder
  • beachbound
    • -2
      beachbound  

    • This actually might not be such a bad idea. We need to unite as citizens of the Earth, erase these imaginary boundaries of countries and stop hording the resources of the world. Every single human being should have equal and free access to the wealth of the worlds resources.

    • 1 year ago
  • beachbound
    • -1
      beachbound  
    • beachbound:

      Of course given that it is peaceful world revolution, where there is no centralized form of power, i.e. one world government controlled by power hungry egotistical maniacs. The power is in the people, all 7 billion+ of us, we must work together.

    • 1 year ago
  • Gravity_Man
    • +1
      Gravity_Man  
    • beachbound:

      Google has a universal translator, or so I've heard. Perhaps your vision has legs without having the language barriers.

      Don't be forgetting the awesome ores they found in Afghanistan soil.

    • 1 year ago
  • ourvoice
  • Gravity_Man
    • +3
      Gravity_Man  
    • ourvoice:

      Perhaps the Afghani gov't will pay the US in valuable ores money for occupying their land and protecting them from those mean old Chinese who want some ores also [but we can't let them get it because we are better than them].

    • 1 year ago
  • Schnookums
    • +4
      Schnookums  
    • beachbound:

      I agree with your sentiments, but I assure you, having one centrally issued currency controlled by a private extra-governmental organization is not the way to freedom, equality, nor the equitable division of the worlds resources.

    • 1 year ago
  • shanklinmike
    • 0
      shanklinmike  
    • beachbound:

      Well, you automatically assume that ending statist boundaries will come through global government currency, which is a complete fallacy. I agree with you, that these government imaginary borders do more to harm individual rights than help, but monopolizing our currency to corrupt statists who have already robbed us blind at gun point is not exactly how you make the world a "better place". Besides, property rights are the cornerstone of a market economy and the backbone of prices that help indicate where efficient resource allocation is needed in a truly free market (which this world has never seen). You should google tragedy of the commons to get a grasp on just how public ownership leads to a lack of environmental conservation.

      Capitalism IS Voluntaryism, it is COMPLETELY different from CORPORATISM, and it is the only civilized way for individuals to coexist, is through persuasion, not coercion. A peaceful, free society would actually enable property rights through DROs and competing law, as justly acquired property is simply an extension of your individual freedom (just like no one should be able to steal what you create or build with your saved capital.)

      Property rights (not through government) are the cornerstone of civilization.

    • 1 year ago
  • therealpixie
  • keithponder
    • +1
      keithponder  
    • Image
    • ourvoice:

      http://blog.foreignpolicy.com/files/minerals.jpg

      I don't know who claims them, but the U.S. Government wants them. That's part of the reasons as to why we're there. I ain't about Al Queada
      =============================================================
      Say What? Afghanistan Has $1 trillion In Untapped Mineral Tesources?

      I'll get to the main point in a little bit, but bear with me for a second ... A series of recent news stories has deeply damaged the Obama administration's case for continued patience with U.S.-led counterinsurgency campaign, which has shown little discernable progress despite the best efforts tens of thousands of additional American troops and an all-star lineup of top military officers.

      First, let's talk about Hamid Karzai, the Afghan president. Remember the chatter earlier this year about how he'd gone crazy, threatening to join the Taliban and all that? That discussion died down a little after Karzai checked all the right boxes during his May visit to Washington.

      Then came the "peace jirga" -- after which Karzai abruptly fired his intelligence and interior ministers, reputed to be two of the most competent members of his cabinet (technically, they resigned). The intelligence minister, Amrullah Saleh, told his side of the story Friday in a jaw-dropping interview with the Times. According to Saleh, Karzai no longer believes the West can win the war and is looking to cast his lot with Pakistan and the Taliban; an unnamed source told the paper that Karzai had suggested that the Americans had carried out a rocket attack on the peace jirga. Karzai has apparently also asked the United Nations to remove Mullah Omar from a key U.N. blacklist.

      Next came revelations that Pakistan's powerful military intelligence agency, the ISI, is still deeply involved with the Afghan Taliban (yeah, blow me over with a feather) despite heated denials to the contrary.

      Meanwhile, the drive for Kandahar looks to be stalled in the face of questionable local support for Karzai's government, the Taliban is killing local authorities left and right, and the corruption situation has apparently gotten so bad that the U.S. intelligence community is now keeping tabs on which Afghan officials are stealing what.

      In short, things don't look good for the United States ... which makes me suspicious of the timing of this attention-grabbing James Risen story in the Times, which opens with this mind-boggling lede:

      The United States has discovered nearly $1 trillion in untapped mineral deposits in Afghanistan, far beyond any previously known reserves and enough to fundamentally alter the Afghan economy and perhaps the Afghan war itself, according to senior American government officials."

      Wow! Talk about a game changer. The story goes on to outline Afghanistan's apparently vast underground resources, which include large copper and iron reserves as well as hitherto undiscovered reserves lithium and other rare minerals.

      Read a little more carefully, though, and you realize that there's less to this scoop than meets the eye. For one thing, the findings on which the story was based are online and have been since 2007, courtesy of the U.S. Geological Survey. More information is available on the Afghan mining ministry's website, including a report by the British Geological Survey (and there's more here). You can also take a look at the USGS's documentation of the airborne part of the survey here, including the full set of aerial photographs.

      Nowhere have I found that $1 trillion figure mentioned, which Risen suggests was generated by a Pentagon task force seeking to help the Afghan government develop its resources (looking at the chart accompanying the article, though, it appears to be a straightforward tabulation of the total reserve figures for each mineral times the current market price). According to Risen, that task force has begun prepping the mining ministry to start soliciting bids for mineral rights in the fall.

      Don't get me wrong. This could be a great thing for Afghanistan, which certainly deserves a lucky break after the hell it's been through over the last three decades.

      But I'm (a) skeptical of that $1 trillion figure; (b) skeptical of the timing of this story, given the bad news cycle, and (c) skeptical that Afghanistan can really figure out a way to develop these resources in a useful way. It's also worth noting, as Risen does, that it will take years to get any of this stuff out of the ground, not to mention enormous capital investment.

      Moreover, before we get too excited about lithium and rare-earth metals and all that, Afghanistan could probably use some help with a much simpler resource: cement.

      According to an article in the journal Industrial Minerals, "Afghanistan has the lowest cement production in the world at 2kg per capita; in neighbouring Pakistan it is 92kg per capita and in the UK it is 200kg per capita." Afghanistan's cement plants were built by a Czech company in the 1950s, and nobody's invested in them since the 1970s. Most of Afghanistan's cement is imported today, mainly from Pakistan and Iran. Apparently the mining ministry has been working to set up four new plants, but they are only expected to meet about half the country's cement needs.

      Why do I mention this? One of the smartest uses of development resources is also one of the simplest: building concrete floors. Last year, a team of Berkeley researchers found that "replacing dirt floors with cement appears to be at least as effective for health as nutritional supplements and as helpful for brain development as early childhood development programs." And guess what concrete's made of? Hint: it's not lithium.

    • 1 year ago
  • peterdomam
    • -1
      peterdomam  

    • its a start- we live and share the goods of one world for our one life- things need to be more equal for and enough for everyone .

      no more wage or economic slaves please.

      >o

    • 1 year ago
  • artemis6
    • +1
      artemis6  
    • peterdomam:

      It looks to me , like , this is putting the value of currency firmly in the hands of for profit institutions , that can , play this like wall street , unregulated and unseen . Only with less of a paper trail on their part . Please , tell me if i am wrong . I would like to be wrong , is there something i am missing ?

    • 1 year ago
  • therealpixie
  • artemis6
  • Jeremy_Benson
    • +2
      Jeremy_Benson  

    • While a global currency would seem to solve many problems, I would think that it would be necessary to first fix the wealth disparity between certain nations otherwise we would risk another global destabilization, only bigger. Not to mention all the problems caused by nations currently experiencing political and economical turmoil at the moment... I don't want the value of my currency subjected to the goings on of, say, North Korea.

    • 1 year ago
  • UtopianSky
    • 0
      UtopianSky  
    • Jeremy_Benson:

      I think when most people say "global" they don't actually literally mean "global".
      Nations like North Korea would not be included, nor would the politically unstable nations in Africa or the middle east. Just the long-established wealthier nations.

    • 1 year ago
  • Gravity_Man
  • Schnookums
  • Jeremy_Benson
  • totally_dilapidated
  • bottguardo
  • bottguardo
  • COMMONSENSEFORCOMMONGOOD_COM
    • +2
      COMMONSENSEFORCOMMONGOOD_COM  

    • Like all "mutual funds", doesn't it's viability depend on who's managing it? The Euro hasn't stopped financial crisis within Europe, has it? For the time being, anyway, doesn't this proposal still require every country to be responsible for it's own economy? If one country goes rogue, or is financially irresponsible and wreckless, do all countries share in the repercussions? At what point then, does the IMF have a right to mechanistically interfere with the financial governance of member countries? Is not this proposal a feature of a utopian world or a one government world?

    • 1 year ago
  • ApeFace
  • UtopianSky
  • ApeFace
  • UtopianSky
  • trut
    • +3
      trut  
    • UtopianSky:

      Yes a global currency. Its called oil, gold, silver, coal, wood, coffee beans etc. We don't need any global bankers deciding what everything is worth in their own fiat printed paper.

    • 1 year ago
  • UtopianSky
    • 0
      UtopianSky  
    • trut:

      If you sugest that we go back to a barter system with NO currency at all, that is just awful.

      Currency was invented as a standard method of barter, so that it can be traded for any goods or services.

      If you grow beets and you want some bread, but the baker does not want any beets, what do you do? Trade your beets for some furs, trade the furs for some wheat, and then trade the wheat for some bread?

      Money is beter.

    • 1 year ago
  • trut
    • +1
      trut  
    • UtopianSky:

      Money sure, but certainly not usa money. Its isn't worth anything. The last major American money maker was Avatar, and that was made by a Canadian. Figures, eh?

    • 1 year ago
  • UtopianSky
  • trut
  • Schnookums
  • artemis6
  • invisible_man
  • CitizenHill
    • +1
      CitizenHill  
    • Schnookums:

      Kewl - this is one of the more coherent depictions of the power of money and its control and manipulation by Banksters with the complicity of our "elected plutocracy" - and that actually shows a way into solvency and in control of our nations destiny in the hands of the citizens once again.

    • 1 year ago
  • UtopianSky
    • 0
      UtopianSky  
    • trut:

      I wish I could own everything by tapping my mouse a couple of times. Do you know how many times I have tapped my mouse? That seems like it would be a global equalizer- anyone can own everything by just tapping their mouse!

      Well, first they have to have a mouse.
      And "Everything" has to be available at Amazon.

      Now, back on topic- I have no clue where you got the mouse stuff or the "own everything" stuff. That has nothing to do with anything I wrote.

      I just said a global currency, I did not say anything about whatever that was.

      I think we are having two completely different conversations.

      I'm saying we should have everyone on the "Shekel" or whatever, and you are talking about digital currency vs gold standard.

    • 1 year ago
  • UtopianSky
  • UtopianSky
    • 0
      UtopianSky  
    • artemis6:

      Explain to me in a "resource based economy" how does a person walk into a supermarket and buy some groceries.

      REMEMBER: I said nothing for or against any economic structure. JUST about a global currency.

    • 1 year ago
  • alexandrek
  • therealpixie
    • 0
      therealpixie  
    • UtopianSky:

      I don't believe in all the conspiracy theories either (see my comment about committees), however, people who have power usually want to consolidate what they have and acquire more. It's the natural progression of corporate ethos. Now we have 187 little mountains for them to climb, and 186 others to battle when they get to the top. All that power aggregating to one point makes my knees weak.

    • 1 year ago
  • therealpixie
    • +1
      therealpixie  
    • alexandrek:

      I'm 63 and I just took all the equity out of my house, and bought more land. Ever since I read the Good Earth as a child, I've felt that the only thing that really maintains value is land.

    • 1 year ago
  • Schnookums
  • LivingPong
  • invisible_man
    • 0
      invisible_man  
    • UtopianSky:

      They can't because there is no money. But to remove money, you have to get rid of trade. How do you get rid of such a natural human behavior?

      One of the key points of a resource based economy is this:
      "All of the Earth's resources must be held as the common heritage of all people and not just a select few."

      Karl Marx said this:
      "The theory of Communism may be summed up in one sentence: Abolish all private property"

    • 1 year ago
  • UtopianSky
    • +1
      UtopianSky  
    • invisible_man:

      Hey! Look at that, you are visible now!
      Good for you, and welcome!

      If the government owned all natural resources that would not mean the end of trade or private property. People would rent or purchase materials from the government, and trade manufactured goods.

      My whole point is there will always need to be some kind of "barter-standard symbol" to use in trade, or pure barter becomes way too complicated.

      And, that I see no benefit in that symbol being limited to a particular geographic area, while other geographic areas use other symbols.

    • 1 year ago
  • artemis6
  • artemis6
    • 0
      artemis6  
    • invisible_man:

      Trade would be REDEFINED . for one thing , no planned obsolescence . All goods would be made as durable as possible . A long term strategy and ecologically sound principle . As it is NOW many products were waisted the day they were made . Also , reused , like books at the library . Is it so hard to imagine ? Car shares already exist . community gardens and green hoses already exist . We already share many things . This will allow people to get to know each other too . So many are isolated in the crowed these days . This is a MORE natural behavior than what we have now . Mothers' already share children's clothes , recipes , toys . Sharing is very natural .

    • 1 year ago
  • SpencerTreeGarden
  • mitekillem
    • -3
      mitekillem  

    • A Global Currency sounds like a good idea, but causes many problems.
      No US control for the US portion of the currency.
      Lack of ability to trade currency to make a quick buck.
      Lack of funds will result in lending crisis.
      When a bank, that is TOO BIG TO FAIL, falls, it won't just affect that country and that currency, it will effect the entire world.
      To Keep Governments from fighting, a private government, segment, or a completely privatized entity will have to govern the world bank.
      The illusion of Inflation will begin to fade. People will begin to see yearly pay decreases as a result, or stagnant pay (no raises).

      The current system, no matter how imperfect, is actually ideal.

      I think it would be great if we had a global currency as a reference, but not to replace currencies of every country.

    • 1 year ago
  • Schnookums
    • +7
      Schnookums  
    • mitekillem:

      I roundly disagree with you. Our current system of private banks issuing nearly 100% of the nation's money supply is far from ideal.

      As President James Garfield said in 1881:

      "Whoever controls the volume of money in any country is absolute master of all industry and commerce.....and when you realize that the entire system is very easily controlled, one way or another, by a few powerful men at the top you will not have to be told how periods of inflation and depression originate"

    • 1 year ago
  • ApeFace
  • COMMONSENSEFORCOMMONGOOD_COM
  • Gravity_Man
    • +1
      Gravity_Man  
    • mitekillem:

      Everybody in the world would have to be drawing a similar paycheck right? I'm good with that. Give everybody my disability check and watch em HOWL AT THE MOON. hahaha

      For many it would be a great Raise btw. Being a Realtor would take a hit, + Doctors, Lawyers, Politicians, Surgeons, Police Officers, Ambulance Drivers. All the people who demand we look up to them would have to look us square in the eye as equals.

      That would be tough on some.

    • 1 year ago
  • Schnookums
    • +5
      Schnookums  

    • Moving from the private Central Bank model of fiat currency issuance that we have in the United States now to a international extra-governmental (also private) organization issuing the World's currency would be a huge move for tyranny.

      I don't say this that often, but God let us hope we collectively wake up before that happens. It's here where Egypt could serve as OUR role model......

    • 1 year ago
  • COMMONSENSEFORCOMMONGOOD_COM
  • Dagum
  • trut
  • Schnookums
  • Dagum
  • ApeFace
  • shanklinmike
    • 0
      shanklinmike  
    • ApeFace:

      In statism, nothing is truly private... how can it be private when it has public coercive backing?!?!? As if it wasn't completely independent from government... if it was, we wouldn't have these problems! It IS the government fiat and monopoly control of currency that is at the root of this problem, not "private banks". lol, get real.... this is LACED with statism!!!! This IS Statist corporatism!!!

    • 1 year ago
  • trut
    • +2
      trut  

    • I don't know why anyone would wish to continue using the usa dollar. There is nothing to back it up except bombs and invasion/occupation.

    • 1 year ago
  • Dagum
    • +1
      Dagum  
    • trut:

      It's true I don't particularly blame China, Russia, or any country for dumping their Dollar reserves, considering the U.S. needs to continually debase the value of the dollar (and their holdings) to support endless wars and empire.

      But I do worry about dumping the dollar as the world currency, for my countryman's sake, because of the Chaos it would cause in America. The U.S. is so dependent on other countries needing the dollar. We would turn into a third country overnight if there was a run on the dollar.

      What scares me more is replacing the dollar with a one world currency controlled by a super-national bank. This would formally institutionalize and consolidate the banker's control over the entire globe.

    • 1 year ago
  • trut
    • 0
      trut  
    • Dagum:

      The dumping of the usa dollar is inevitable. There will be a mass exodus from the cities, but so be it. I just hope that the majority of the hardship and ruin remains in the usa because after all it was your elected representatives that took you down this road.

    • 1 year ago
  • bottguardo
    • +2
      bottguardo  
    • Dagum:

      "This would formally institutionalize and consolidate the banker's control over the entire globe."

      I see your point, but it's already informally institutionalized and consolidated. It happened a looong time ago.

    • 1 year ago
  • COMMONSENSEFORCOMMONGOOD_COM
  • shanklinmike
    • 0
      shanklinmike  
    • Dagum:

      What has led to us being enslaved to our own politicians debt of almost 100% GDP, of being trapped to government military contractors, of fiat currency.... all of it comes back to the root of coercion. Without coercion, none of this would matter, we could just move on in spontaneous order, but no...instead, we allow the coercive sector to pull us down, creating huge bubbles for their pet peave projects and we turn around and blame it on free markets (the lack of politics)....um, does this not sound completely fucking ridiculous to anyone else?!?

      Haha, yeah...governments had nothing to do with this, suuuuure.... lol

    • 1 year ago
more from Community:
from the community

top videos