NWO's UN calling for new One-World Currency to
replace U.S. dollar as global standard
The news comes on the heels of a recent
Red Alert report that world organizations, including the United
Nations, are openly calling
for the creation of a one-world currency to replace the dollar –
and the Obama administration's trillion-dollar deficits are serving
as a trigger for the currency switch.
A United
Nations report recommended that a new one-world currency
should be created to replace the dollar as the standard for
foreign-exchange
holdings in international trade.
"If the plan succeeds, the United Nations would effectively
end up replacing the United States as the issuer of the one-world
international
currency used as the standard of foreign exchange to settle
international trade transactions," Red Alert reported.
"The move would obviate the
need for any nation state in the future to be the arbiter of world
trade, marking yet another blow to national sovereignty on the path
to one-world
government."
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www.wnd.com/index.php?fa=PAGE.view&pageId=110913
World bids farewell to U.S. dollar
Largest bank, U.N. seek replacement for global
reserve currency
Posted: September 25, 2009
One of the world's largest banks is bidding
farewell to the U.S. dollar – just as the dollar faces intense
scrutiny at today's G-20 summit
and the United Nations announces it wants a new global reserve
currency replacement.
"The dollar looks awfully like sterling after the First World
War," David Bloom, HSBC currency chief, told London's Telegraph.
"The whole picture of risk-reward for emerging market currencies
has changed. It is not so much that they have risen to our standards,
it is that we have fallen to theirs. It used to be that sovereign risk
was mainly an emerging market issue but the events of the last year
have shown that this is no longer the case. Look at the U.K. – debt
is racing
up to 100 percent of GDP," he said
China and rising Asia can no longer continue holding down their
currencies to boost exports because it's hurting their own economies,
creating asset bubbles, the Telegraph reported.
"The policy headache was already becoming clear in the final
phase of the global credit boom but the financial crisis temporarily
masked
the effect," the report states. "The pressures will return
with a vengeance as these countries roar back to life, leaving the
U.S. and other
laggards of the old world far behind."
Bloom told the newspaper that regional currencies will emerge as the
anchor for HSBC's smaller trading partners, with China, Brazil,
or South Africa filling the role of the U.S. Australia has been
linking its fortunes to China through commodity ties.
The news comes on the heels of a recent
Red Alert report that world organizations, including the United
Nations, are openly calling
for the creation of a one-world currency to replace the dollar –
and the Obama administration's trillion-dollar deficits are serving
as a trigger for the currency switch.
A United
Nations report recommended that a new one-world currency
should be created to replace the dollar as the standard for
foreign-exchange
holdings in international trade.
"If the plan succeeds, the United Nations would effectively
end up replacing the United States as the issuer of the one-world
international
currency used as the standard of foreign exchange to settle
international trade transactions," Red Alert reported.
"The move would obviate the
need for any nation state in the future to be the arbiter of world
trade, marking yet another blow to national sovereignty on the path
to one-world
government."
(Story continues below)
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