Is anyone else worried about a Global Currency?

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John99's picture
John99
Status: Gold Member (Offline)
Joined: Aug 27 2009
Posts: 490
Is anyone else worried about a Global Currency?

We have had China, Russia, some of the EU countries, and now the United Nations calling for a 1 world currency.

http://online.wsj.com/article/BT-CO-20090908-704507.html

Chris said in the seminar, 'money is a call on labor'.

Our fiat currencies are not born out of labor like gold and silver, but something magical and mythical created out of thin air and issued as debt. This is usury. Money issued as debt creates slavery.

But if we go to a global, 1 world currency, will this indebtedness not just expand until every person on the planet is paying back a lifetime of debt to some supranational group of Central Banksters, who are outside of any domestic control or accountability?

Is anyone else concerned about this???

putaforkinUS's picture
putaforkinUS
Status: Member (Offline)
Joined: Apr 21 2009
Posts: 4
Re: Is anyone else worried about a Global Currency?

Yes, I'm concerned.  It would be everything we have now with central banking, but on steroids.

My problem is that I kind of have a handle on how to prepare for what we are going through here in the US, and I feel pretty good about how to prepare for a US dollar devaluation/crash.  I don't have a clue how to prepare for what comes after a dollar crash.  It will likely be a basket of currencies as the world reserve, followed by a single currency at some point.  My brain's too full of all of the current data coming at an ever quickening pace.  I will need to defrag before I can contemplate what's next.

 

d

DrKrbyLuv's picture
DrKrbyLuv
Status: Diamond Member (Offline)
Joined: Aug 10 2008
Posts: 1995
Re: Is anyone else worried about a Global Currency?

John99,

Yup, you raise a good point and I'm concerned.  When and if we go bankrupt, we are being set-up to lose what little sovereignty and freedom we have left. 

Larry

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kmarinas86
Status: Silver Member (Offline)
Joined: Dec 29 2008
Posts: 164
Re: Is anyone else worried about a Global Currency?

If money is not issued as debt, then issue of money does not provide credit, which reduces our access to credit. We would need to have something like insurance at a large scale. Could you imagine countries paying for "terrorism insurance" or "natural disaster insurance" to the tune of billions of dollars per year to a international agency? To not issue money as debt means that that new money issuance is centrally controlled NOT by mere interest rates (i.e. the current case where we can still use credit to purchase virtually anything we want, as long as we have a good credit score), but instead it would be controlled according to the whims of those who must be the first to spend then money (economic nationalism), who will decide for us what the new money will be spent on. Why? To have any people to sign and use additional credit effectively forces central banks issue their own money as debt (i.e. liability) because without doing so it would create too much money and make our savings useless. The reason why money is created as debt is because there is no free lunch. Unless if its use is restricted severly, it must be created as debt to maintain integrity of currency. The more people live beyond their means by purchasing the means of others rather than producing their own, the higher the interest rate must be to protect the value of people's savings. Wtihout this we have hyperinflation!

How about a system of no credit then? Then get prepared to pay extra for the good and services you need. If the money supply expands, with or without debt, then there is inflation (and I mean real inflation = expansion of the money supply). There is no way out of these facts. There are other people in the world who need the money just as you do. You yourself are going to have to give up much of your access to credit if you want forms of "non-debt based money" to happen. This also means that we may have to accept a single payer pool system for large expenses such as housing so that those big-ticket items can be paid for on the spot without payment deferral, debt, interest, etc.. Socalism is the minimum price we invitably will pay during and after a transition to a non-debt based money system. Capitalism, which provides non-debt finanicing (i.e. equity financing), reduces demand for other forms of financing (e.g. debt) and will only accelerate the process.

John99's picture
John99
Status: Gold Member (Offline)
Joined: Aug 27 2009
Posts: 490
Re: Is anyone else worried about a Global Currency?

I humbly submit....

We somehow believe banks have money to lend. They do not. They only have debt and the ability to create money (new debt) out of thin air. What gives them this right (other than a fraud perpetrated in 1913).

At a very minimum, thin-air-money-as-debt, creation should be the prerogative of governments so that interest repayment benefits the 'people' rather than a group of private bankers.

What of a concept where an honest government can create credit? i.e. A young person want to borrow 100k for a house. The gov't lends this money and then the borrower repays with his labor, and that labor could be directed back into community services that society requires – back into his own community where he has a vested interest in quality work being performed. Now this person repays the original 100k borrowed, not 310k to a bank which created this debt of of thin air, and for this magic act receives 210k in interest, or 30 years of the man's labor?

Why not return to the constitution? The Founding Father's were very familiar with worthless fiat money creation and spelled out that Congress must 'coin and regulate the value there of' - meaning it is the government's responsibility to create the monetary system using real (labor-backed) money of gold and silver.

jneo's picture
jneo
Status: Platinum Member (Offline)
Joined: Jan 7 2009
Posts: 742
Re: Is anyone else worried about a Global Currency?

 

I should of added this topic to my Predictions for 2012.  Progress with economic instability will increase near 2012, so the contingency plan of a Global Currency will materialize on some level all manifested by global oligarchs and their FIAT control device.  

Full Moon's picture
Full Moon
Status: Diamond Member (Offline)
Joined: Oct 14 2008
Posts: 1258
Re: Is anyone else worried about a Global Currency?

it's going to happen sooner or later .... not much we can do about it .

Cloudfire's picture
Cloudfire
Status: Diamond Member (Offline)
Joined: Sep 29 2008
Posts: 1813
Re: Is anyone else worried about a Global Currency?

Worry? . . . . No . . . . . Worrying accomplishes nothing . . . . . Do I think a world currency is preordained?  . . . . .   Yes . . . . . The real question is whether a world currency would resolve any of our predicament . . . . . . Answer:  only in the short run . . . . . In the long run, it's our worst nightmare:  Fiat currency on steroids  . . . . . with no place to run, and no place to hide. 

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