UN wants new global currency to replace dollar

[ItsAllOver]

Everyone should stop using the phrase NWO, Alex Jones has effectively made everyone who utters that useful little acronym look like a complete jackass. Not that I disagree with any of this shit, but if people are too believe you then you can't let your ideas be represented by fucking clowns.

I tell my friends this all the fucking time.

 

[iGro4Me]

Wow... umm.. where do I start... lol...

Many people are up to their necks in debt because they took out, and were actually issued, loans that they shouldn't have. They were financing 100% of the cost of their homes, when you're supposed to have at least a 20% downpayment. Not to mention that nobody saves money in the US. Ideally, you're supposed to have at least 3 months of your expenses saved up just in case something happens. Who here can say that they have that much in savings? The misuse and abuse of credit is the reason why folks are in so much debt. Many people didn't know any better, and I feel the banks are to blame for giving them the money in the first place when they knew they couldn't afford the payments. It all came down to the bottom line, because the person who issued the loan gets a commission, the bank makes a percentage when they bundle the mortgages and sell them to Fannie and Freddie...

Money isn't just printed. Treasuries are issued to raise the funds, and they must be paid back. Think of it like a savings bond. The money came from investors. Our treasuries are worth enough in the eyes of the world to invest in. They know we will come back. Maybe we won't be on top forever, but we will remain a major world power for decades to come.

You may have missed the point of the post...

It's an enviroment perpetuated, almost urged by the government, as your post further validates.

The problem being the government has no real budget....Like everyday people.

China alarmed by US money printing

Published: 9:06PM BST 06 Sep 2009
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".
"We hope there will be a change in monetary policy as soon as they have positive growth again," he said at the Ambrosetti Workshop, a policy gathering on Lake Como.


"If they keep printing money to buy bonds it will lead to inflation, and after a year or two the dollar will fall hard. Most of our foreign reserves are in US bonds and this is very difficult to change, so we will diversify incremental reserves into euros, yen, and other currencies," he said.
China's reserves are more than – $2 trillion, the world's largest.
"Gold is definitely an alternative, but when we buy, the price goes up. We have to do it carefully so as not to stimulate the markets," he added.
The comments suggest that China has become the driving force in the gold market and can be counted on to
buy whenever there is a price dip, putting a floor under any correction.
Mr Cheng said the Fed's loose monetary policy was stoking an unstable asset boom in China. "If we raise interest rates, we will be flooded with hot money. We have to wait for them. If they raise, we raise.
"Credit in China is too loose. We have a bubble in the housing market and in stocks so we have to be very careful, because this could fall down."
Mr Cheng said China had learned from the West that it is a mistake for central banks to target retail price inflation and take their eye off assets.
"This is where Greenspan went wrong from 2000 to 2004," he said. "He thought everything was alright because inflation was low, but assets absorbed the liquidity."
Mr Cheng said China had lost 20m jobs as a result of the crisis and advised the West not to over-estimate the role that his country can play in global recovery.
China's task is to switch from export dependency to internal consumption, but that requires a "change in the ideology of the Chinese people" to discourage excess saving. "This is very difficult".
Mr Cheng said the root cause of global imbalances is spending patterns in US (and UK) and China.
"The US spends tomorrow's money today," he said. "We Chinese spend today's money tomorrow. That's why we have this financial crisis."
Yet the consequences are not symmetric.
"He who goes borrowing, goes sorrowing," said Mr Cheng.
It was a quote from US founding father Benjamin Franklin.

With 900B of our "paper" and the weakening dollar, puts us in an extremely precarious situation.

 

[bobblehead]

You concisely explained in your first paragraph something that most of our politicians and mainstream media people have much incentive not to say, but easily could and should. And thank you for that!

But, could it not be said that the treasuries you mentioned that are now all over the world were and are overvalued, and that these investors we scammed into the purchase of them because of their ignorance of the conditions on the ground? What makes it so likely that we will make good on our promises to pay them back at interest when we didn't invest the money that came from the treasuries, etc. wisely? I'd say this is why we're in trouble. What are we going to produce (and how?) to pay back our loans?

That's what investments are all about. Risk vs. Reward. It can be said that the dollar was/is overvalued, and the opposite can also be said. However, the facts are that many people in other countries are abandoning their currencies, and converting their savings into dollars, because they believe we will leave the crisis first. This drives the value of the dollar up. Recently I was in South America for 3.5 months to do an internship and brush up on my Spanish... When I got to Argentina, the dollar bought 3.4 pesos, and when I left, the dollar bought about 3.7. Same with the Euro, however I forget the recent value history. Currency markets have a lot of speculation in them.

As far as paying back our loans goes, ideally we're going to be changing our economy... to a green, more efficient economy. Green Energy and a public option= less money being spent. Additionally we're improving our infrastructure, building/repairing roads, bridges, building new train tracks (it's only american to have your own car ya know, that's why we destroyed many of our tracks), among other things. What are we going to manufacture? IDK, electric cars? lol... Maybe windmills and such. Spain has the lead there, and they are making several investments here in the US to help out with that. I recently had an interview with the Spanish Embassy, but didn't get the job... boo... That's really the only reason I know about that stuff.

At least we're financing improvement, instead of a WAR! I don't understand why so many people are upset with Obama's bailout, when we've been spending aimlessly in the middle east for the past couple years!

 

[bobblehead]

You may have missed the point of the post...

I must have misunderstood, but I'm happy I could clarify and validate your points.

 

[FrankRizzo]

Did you know new editions of Monopoly do not come with cash, they come with a debit/credit based system.

Research has shown that people who used plastic debit cards/credit cards spend more money then those who keep money in their wallet.

So, did they do that on purpose.. or is it just coincidental?

I was basically just tryin to be a smart ass.... Plus it's easy to just print out on your own.

 

[GeneticHeirloom]

I was basically just tryin to be a smart ass.... Plus it's easy to just print out on your own.

I wasn't trying to rip on ya at all, I was blown away when I first saw the CC edition of monopoly and quote it and talk about it anytime someone mentions the money or game.

 

[cork144]

Everyone should stop using the phrase NWO, Alex Jones has effectively made everyone who utters that useful little acronym look like a complete jackass. Not that I disagree with any of this shit, but if people are too believe you then you can't let your ideas be represented by fucking clowns.

when it happens, how pissed are you going to be? NWO is happening, the pearl harbour happened, now rights are being taken away, bit by bit.

this UN backed currency has most probably been pushed forward by the US.

call us what you wish for understanding harsh truths about life.

 

[TheGreenBastard]

Everyone should stop using the phrase NWO, Alex Jones has effectively made everyone who utters that useful little acronym look like a complete jackass. Not that I disagree with any of this shit, but if people are too believe you then you can't let your ideas be represented by fucking clowns.

I personally knew Alex Jones, I agree he is rather eccentric though much of what he says is based in truth. Though that besides the point. (He thinks he's the Luke Skywalker of the New World Order, Hate that term by the way. You'll know what I me if you listen to his show. He ruined 'Imperial March' for me)


Before we even attempt to create a universal monetary system, we need to have one that is based on something more than our faith. Long ago we had done away with money that had any real value. Now the U.S. dollar is worth no more than what we say it is worth. Gold has been the bases of economies across the globe for millennia and it did just fine. Any one who says that it has no place in modern society is wrong. For gold is much more than a pretty metal, it has value beyond its luster. Today you will find gold in most electronic devices due to it being a remarkable conductor. That alone is enough to verify its value in this modern technologically driven world. There is a reason it has been used as money for almost as long as we have had monetary systems. Gold can last virtually for ever, the same can not be said for paper currency which has absolutely no value other than the cotton its printed on. Electronic money is even less valuable because the only thing it is back be is said useless currency.

Its like a paper-mache fish. We began trading fish because it has value, it nourish and keeps us alive. Though as time progresses we start to cut the fish and replace part of it with paper-mache. Eventually the fish is no longer something we can live off of but rather a paper fish or piece of paper with a fish drawn on with the promise of a real fish. Eventually even the promise is gone and you are left with a meaning less piece of paper that you can't use to feed your family.

That is an analogy from a book I had read when I was only a child (I think I was 12 at the time, though sadly I do not remember the details such as title and author, DAMN POT). Yet the message stands, until we have something to reinforce our dollar (that goes for other currencies as well) we will have nothing more than a pocket full of paper fish (in this case dead presidents).

I say we do what our ancestors did and uses that shiny yellow stuff we found in the ground some many years ago. For that is the true global monetary system that we all seemed to have forgotten about. No matter were you go everybody wants it and it its all worth the same.

 

[bobblehead]

There's 1 problem with gold, and that is that recession is a fact. You can't grow forever. The idea is that you need to have a way to stimulate your economy when you're down, which is where credit comes in. You can't generate more gold when you're down... I don't know that I'm right, I just know what I've bee.n told in class and read in text books. Can we get an economist in here? Where's Ben Beranke when you need him..

 

[cork144]

bobble you dont seem to understsand that the textbooks you read, and learn from, usually have to be approved for learning material, filterd knowlage my friend, what you would have been taught is what they wanted you to know, so it falls in with their ideas, so you will inheritly think theyre right.

at the end of the day a one world currency is a no-no for me, but, I nor anyone else realy has any power to what goverments do.

 

[ItsAllOver]

First, in response to gold

I hear you about the system as a whole not being able to generate more gold in a recession (which as you say, is a fact), but the wealthy among the system will always exist because gold does not simply disappear, it changes hands. Because of this, those with gold wealth would be able to lend to those that don't have it. Now we have a situation in which the only restrictions would be on the amount of interest applied to the lending (and I would argue that this would not even have to be extensive, I don't believe in price controls after a natural disaster, either) and not who lends to who and how much they are allowed to lend beyond what they actually have.
So what you were saying is that when the system crashes and wealth is destroyed, there must be a way to create it again out of thin air. This can only be bad. Remember, recessions are caused by misallocations of resources (Austrian economists call it malinvestment), and the only way to fix these is to let the institutions and even individuals who made the mistakes fail so that the resources can be redeployed. This is hard and painful, and sometimes takes a while, but the essence of money today and the way our economies are controlled from the top down doesn't allow this process to work.

 

[TheGreenBastard]

The reason I think gold should be the standard is it will always be needed, it will always have a place in industry as well as an appeal to people. It is worth the same all over the world because its demand is equal across the world. Goods are the the true global currency.

 

[ItsAllOver]

As far as paying back our loans goes, ideally we're going to be changing our economy... to a green, more efficient economy. Green Energy and a public option= less money being spent. Additionally we're improving our infrastructure, building/repairing roads, bridges, building new train tracks (it's only american to have your own car ya know, that's why we destroyed many of our tracks), among other things. What are we going to manufacture? IDK, electric cars? lol... Maybe windmills and such. Spain has the lead there, and they are making several investments here in the US to help out with that. I recently had an interview with the Spanish Embassy, but didn't get the job... boo... That's really the only reason I know about that stuff.

At least we're financing improvement, instead of a WAR! I don't understand why so many people are upset with Obama's bailout, when we've been spending aimlessly in the middle east for the past couple years!

Now,
infrastructure has only indirect effects on our productivity. Roads and bridges don't make TVs and cars that we can export like Asia has been doing for us for years. Factories do. A large number (most) of ours are closing or have closed. They are not being rebuilt today. The resources that would otherwise be deployed in building factories here are indeed building them in other parts of the world. Scary thought. A broke America with no way to get out of the hole? Unless we go into debt to the rest of the world, even more than we are now.

BTW, we are still financing a war. Hell, it might even be more expensive now, and we are leaving no time soon.
Also, the public health care option might make us poorer than we are now. Government programs are already overburdened. What makes you think this will make things better? I'm not sure, to be honest, so you can make a point but I might not be a good arguer on that front.

 

[ItsAllOver]

bobble you dont seem to understsand that the textbooks you read, and learn from, usually have to be approved for learning material, filterd knowlage my friend, what you would have been taught is what they wanted you to know, so it falls in with their ideas, so you will inheritly think theyre right.

at the end of the day a one world currency is a no-no for me, but, I nor anyone else realy has any power to what goverments do.

Yep, when you say that, my man, you are talking about an economics education centering around Keynesian ideas. The idea that any economic activity that produces jobs is good economic activity. The example often given for these "make work" projects is "digging holes and filling them back up again." (EDIT: I oversimplified Keynesian econ. So sorry. But if I had the time, I'd go further, and it would look just as dumb)
I agree. Keynesian econ is bunk. And I'm not dissing you, bobblehead, I honestly think you're a smart cat, and that's why I'm trying to introduce these ideas....
Phew I'm typing up a storm

 

[ItsAllOver]

Cork: Why are you wholly against a world currency without even considering the possible merits of one? There are many ways to implement this. I have the same fears as you, and probably more, about such a system, but I (and it seems GreenBastard does too) think there is a way to make it work. Maybe more than one.
Is it obvious that this is an important topic to me? LOL

 

[TheGreenBastard]

I agree that their is defiantly a way to make it work and the benefits could be great. Though there are many,many problems that could arise. Hopefully one day we can have a system that can benefit all though I don't see it happening anytime soon. Besides, the UN has been advocating this for years. It is not a subject that is really new and it is defiantly not as if they just came up with this as solution to the recent economic crisis.

 

[hoosierdaddy]

Wow... umm.. where do I start... lol...

Many people are up to their necks in debt because they took out, and were actually issued, loans that they shouldn't have. They were financing 100% of the cost of their homes, when you're supposed to have at least a 20% downpayment. Not to mention that nobody saves money in the US. Ideally, you're supposed to have at least 3 months of your expenses saved up just in case something happens. Who here can say that they have that much in savings? The misuse and abuse of credit is the reason why folks are in so much debt. Many people didn't know any better, and I feel the banks are to blame for giving them the money in the first place when they knew they couldn't afford the payments. It all came down to the bottom line, because the person who issued the loan gets a commission, the bank makes a percentage when they bundle the mortgages and sell them to Fannie and Freddie...

Money isn't just printed. Treasuries are issued to raise the funds, and they must be paid back. Think of it like a savings bond. The money came from investors. Our treasuries are worth enough in the eyes of the world to invest in. They know we will come back. Maybe we won't be on top forever, but we will remain a major world power for decades to come.

Left minded folks get to reading shit like Keyne put out, and you'd think they had found their messiah. And let's not forget Niche and Marx while we are listing other leftist messiahs.

Here we have the US congress pushing bullshit Keynesian theory, and it is hard for me to tell if they are really stupid, or are simply taking advantage of their ignorant constituencies.
I feel strongly that there are a fair many idiots in congress that truly don't understand what they do because they are in reality stupid people...stupid people with degrees and fat bank accounts. Nanci Peloci would be a prime example of a stupid person with congressional power.
There are a far more others who are not actually stupid, like Nanci Pelosi or Harry Reid are (funny how the real dumbasses of the left are always their leaders).
Others like Barney Frank...who is not stupid at all, and it is clear that he does his work by bullshitting his dumbass constituents. And why folks in his districts would vote his gay ass in repeatedly is beyond me...but I have to realize that it is stupid, gullible folks we are dealing with here. Not thinkers and the pillars of society, but the dumbasses. No matter what you think of GW Bush, during his admin he addresses congress at least three times concerning the meltdown of the housing sector as a result of the Keynesian policies that were being employed by the left. And each time Barney Frank has the balls to sit back and smirk at the President and his people claiming the Fannie Mae and Freddy Mac were quite solid and should in fact be expanded instead of cut back.
How in the world our nation does not go nuts when we hear such idiotic stuff from a member of congress, but they don't. No, the housing sector melts down JUST AS WAS PREDICTED BY THE BUSH ADMIN, yet Frank and his band of cutthroats go all out to blame Bush for the economic crisis we are in.
And yes, Bush is in part to blame because at the end of his presidency he too took on Keynesian economic practices and started the bank bailouts, which should have never happened in the first place.

Man,...I am so tired if this shit. It is like being stuck in a slow motion nightmare. I am sick of how stupid people are...and THAT in a nutshell is the problem...stupid people that are lazy to boot. (many of them lay out good arguments....but the fact remains they are stupid, and get most of their material from other idiots and are only parroting it)
But guess what, all you stupid people will probably get your wishes. Although, you will have a few million that will lay down their lives before we become another failed socialist state. And it will either come to that, or we will finally realize who the real idiots of our government are. The people who keep electing them.

 

[Fu-Ion]

Here's a nice video which will teach you how the whole banking-debt money scam really works

THE CRIME OF THE CANADIAN BANKING SYSTEM: Bill Abram (part 1

http://www.youtube.com/watch?v=O8Zl1Wax8MI




Peace.

 

[Gypsy Nirvana]

overall....it would definitely be advantageous to most all of us to be able to buy, or sell whatever in ONE CURRENCY......

...I'm sick of giving funds to money changers and banks all over this planet, just so that they can change a pound, a yen, a dollar, a peso, a franc, a euro, a ringgit, a kroner, a ruble, a shekel, a dong, a baht, a rand, a bolivar,a rial, a leke, a dinar, a schilling, a taka, a Yuan renminbi, a won, a kwatcha, a dirham or a rupee/rupiah and a multitude of other currencies into the currency I can actually spend.......meanwhile the banks and the money changers are all taxing you a percentage of what you NEED to change up.....

 

[motaloca]

may i suggest The Cambodian Riel as new world currency? Nice picture's of happy people farming.