UN wants to replace dollar with "new" global currency

[festus]

In a radical report, the UN Conference on Trade and Development (UNCTAD) has said the system of currencies and capital rules which binds the world economy is not working properly, and was largely responsible for the financial and economic crises.
UN wants new global currency to replace dollar - Telegraph
It added that the present system, under which the dollar acts as the world's reserve currency , should be subject to a wholesale reconsideration.


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Is this the death of the dollar? Although a number of countries, including China and Russia, have suggested replacing the dollar as the world's reserve currency, the UNCTAD report is the first time a major multinational institution has posited such a suggestion.

In essence, the report calls for a new Bretton Woods-style system of managed international exchange rates, meaning central banks would be forced to intervene and either support or push down their currencies depending on how the rest of the world economy is behaving.

The proposals would also imply that surplus nations such as China and Germany should stimulate their economies further in order to cut their own imbalances, rather than, as in the present system, deficit nations such as the UK and US having to take the main burden of readjustment.

"Replacing the dollar with an artificial currency would solve some of the problems related to the potential of countries running large deficits and would help stability," said Detlef Kotte, one of the report's authors. "But you will also need a system of managed exchange rates. Countries should keep real exchange rates [adjusted for inflation] stable. Central banks would have to intervene and if not they would have to be told to do so by a multilateral institution such as the International Monetary Fund."

The proposals, included in UNCTAD's annual Trade and Development Report , amount to the most radical suggestions for redesigning the global monetary system.

Although many economists have pointed out that the economic crisis owed more to the malfunctioning of the post-Bretton Woods system, until now no major institution, including the G20 , has come up with an alternative.

[Tea For One]

The New World Order will involve merging, streamlining and globalization of multiple international governments. The establishment of the EU is one example. Eventually, efforts to establish a one-world government will set the stage for the anti-Christ to step upon it.

This is why we should fiercely resist anything involving efforts to globalize currency, governments, etc. Yes, it is Biblical that it will come to pass. No, I'm not excited about the downward spiraling of human culture and society as evil gains a greater foothold in our world, and Obama is playing a key role in these end times.

TFO


Check out Dr. Jimmy DeYoung's daily prophecy updates: Prophecy Today - Top 10 Daily News Stories

09/08/09
Today, September 08, 2009, 5 hours ago | noreply@blogger.com (James)
* 'Arab world should arm against Iran' US allies in the Middle East should strengthen their respective militaries in order to deter Iran from continuing its contested nuclear weapons program.

* Hevron Massacre, 80 Years After The Jewish Community of Hevron marked the 80th anniversary of the 1929 pogrom, in which 67 Jews were slaughtered with axes and otherwise by their Arab neighbors.

* Lieberman: Despite settlement freeze, Right won't topple gov't The Right will not bring down Prime Minister Binyamin Netanyahu's government, and Israel Beiteinu will not leave the coalition in the face of the anticipated six-month moratorium on new construction in the West Bank.

* Poll: Hamas approval rating extremely low Hamas's approval rating has sunk to significantly low levels in the West Bank and even lower levels inside the Gaza Strip.

* Obama has yet to define U.S. objectives in Afghanistan Military observers, soldiers on the ground there and some top Pentagon officials are warning that dispatching even tens of thousands more soldiers and Marines might not ensure success.

* 'We tried to kill Carter and Blair' The leader of an al-Qaida-inspired group in the Gaza Strip revealed on Sunday that his men recently tried to assassinate former US president Jimmy Carter and Quartet Middle East envoy Tony Blair.

* Karzai closer to election victory Latest results from Afghanistan's presidential election show President Hamid Karzai with 54.1% of the vote after 92% of polling stations declared.

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

* Arctic Sea Iran arms link denied Russia has denied media reports that a cargo ship which was apparently hijacked in July was carrying Russian S-300 anti-aircraft missiles to Iran.

* China alarmed by US money printing Cheng Siwei, former vice-chairman of the Standing Committee and now head of China's green energy drive, said Beijing was dismayed by the Fed's recourse to "credit easing".

[HK4U]

Scripture says that "In the last days perilous times will come". Is this the last days? Can not say for sure but the way things look I would not be surprised.

[AZSATT]

"This may not be the end of the world, but you can see it from here."

The encouraging part of all this madness, violence and disaster found in the headlines to the latest volley of political BS is that none of this is a surprise to God.

[rugerfan.64]

Originally Posted by AZSATT

"This may not be the end of the world, but you can see it from here."

The encouraging part of all this madness, violence and disaster found in the headlines to the latest volley of political BS is that none of this is a surprise to God.

Amen.

[mot mayhem]

I heard rumors about a North American Union - US, Canada, & Mexice joining, then the currency would be the Amero. I don't think we are that far off, unfortunately. Especially when Russia & China are PUSHING for it. They, now being global powers are kinda like the E.F. Hutton's of the world. Whatever comes, it is pre-ordained, but it doesn't make it any easier to take.

[Cooter]

I can't believe that there are still people that deny a plot to set up world government. They are throwing it in our face constantly, like this article.

[Scarecrow]

Originally Posted by mot mayhem

I heard rumors about a North American Union - US, Canada, & Mexice joining, then the currency would be the Amero. I don't think we are that far off, unfortunately. Especially when Russia & China are PUSHING for it. They, now being global powers are kinda like the E.F. Hutton's of the world. Whatever comes, it is pre-ordained, but it doesn't make it any easier to take.

I read something about that not too long ago about them wanting to accomplish this by 2010.