The Threat of an Impending Global Currency
Mining Affairs Forum -
By Ken Thornberg
In deciding what to share with our readers this month, I thought a slight diversion was in line. I will get back to the realms of energy, mining, and so forth next month, but after having studied this subject these past few months, I felt an urgency to make us aware of something that few of us ever read about, much less know is happening under our noses. For our business readers, this could have a devastating effect if allowed to move forward unchecked; therefore, I felt a necessity to share the following.
Starting with the Fed
I have had to find a way to compress this issue so you could fathom the magnitude of the problem. Many of our readers, I’m sure, know that the New World Order is trying to become a reality like a runaway train. Our old nemesis, the devil, is working overtime to remove everyone’s freedoms on this earth as long as they sit back and allow it. Since God came to give us freedom, we know whose side He is on, but He knows it takes eternal diligence for mankind to hold on to what freedoms they have been given and even more to regain what they have lost. Well, when it comes to our finances, there is no arena the bad guys would love to control more. Control man’s money and you can control everything else in his life.
When Marx’s initial monetary plan, the Federal Reserve System, was created, it began the march towards financial collectivism in this nation. It inflates the money supply at will. Shortly after the disastrous October/November 2008 financial debacle hit with its full force, I remember watching a Fox News story about Fed Chairman Bernanke in front of a House Committee telling them that the Fed had recently loaned or given away hundreds of billions of dollars to those less fortunate than us (Shocking that committee, by the way). I’m thinking, “What is the world gives this man the right to give our money away, adding to inflation and hidden taxes, with no hope of getting it back?” To be honest, I was stunned. Wouldn’t you be stunned, especially considering the timing? Could he not have at least given that money to our auto industry so that the government wouldn’t have to take control of it, and give us a fighting chance of getting it paid back? Anyone notice a strange scenario taking place? I would have loved to have the time to research who was truly going to benefit from that complete waste and what appears to be a purely illegal act, not just stupid. The entire global financial crisis was largely brought on by an asset bubble caused by currency manipulation by the Fed. The Fed also has power to act outside of Congress because Congress gave away their rights those many decades ago. The Fed also causes the boom-and-bust cycle through its manipulations of the currency and credit supply, has the monopoly power to cause interest rates to go up or down, and worse yet, serves as government’s partner to expand the welfare-warfare state, allowing the state to spend far more than it could ever hope to reasonably raise via taxation. If you’re a socialist, the Fed could be no better friend. Or if you support this New World Order.
Today it is mathematically impossible to pay off our national debt. Who would think I’d ever write that down on paper? And the one thing we can do about it is write all of our Congressmen and Senators both and ask them to support Congressman Ron Paul’s bill to audit the Fed. It is decades and decades overdue. It’s time to expose the truth. Ending it would be better, but there is no chance of doing that until it is audited and the people gasp in horror at what will come forth.
Global Comes Racing Forward
Now, imagine such a system on a global level. Now, imagine that this is not something that is going to possibly occur at some future date, but is actually in process now and has been for quite some time. Sad, but true. “Disaster” with such a thing happening would be a kindergarten term, at least for all but the leadership of the global banks. A global central bank and its fiat (decreed, ordered) currency would assist in an emerging planetary regime to print its own money and finance its activities independently. That means whatever political and spiritual motivations this group had would not be subject to law, but their own whims. Now, can you begin to get a glimpse of what this cadre of socialists are planning to do? Think…armies, tax collectors, courts, bureaucracies, law enforcement, propaganda machines, wealth distribution, elimination of churches and sovereign governments…the list goes on. This is not a dream or the ramblings of some crazy man, but comments from world conference reports!
The primary players in this new scheme are the United Nations and International Monetary Fund (IMF). You may have heard the term, SDRs, short for “Special Drawing Rights,” the IMF’s first shot at a global currency. It is seeking approval to print its own money to provide “international liquidity” using a new currency called the “bancor.” The IMF’s idea still has a ton of support out there, as does the UN’s recent proclamation that the U.S. Dollar’s status as the world’s reserve currency should end (See “World Economic and Social Survey of 2010”). The UN also supports the creation of SDRs for our global currency. This would allow the IMF to bail out governments, companies, and whomever it wished. I will bet you money that that will not include freedom-loving nations and firms that support free-market economies, but those who prefer monopolies instead. It is more than obvious that this move is one reason for the precipitous decline of the dollar’s value after over a century of it playing the primary role. The drop has been rather sudden, don’t you think? Now, begin to let your minds wander—think of Zimbabwe where inflation exceeded millions of percent per year, South American nations where inflation has practically devastated nations, Greece’s required bailout, etc. In America, prior to the Fed, one breadwinner in a home was common and people got along very well; what changed that? Inflation, fed by an agency which didn’t answer to our elected officials. IMF boss Dominique Strauss-Kahn used the Greek tailspin (caused by overspending by a totally socialist paradise) to “strengthen the existing framework.” In this realm, one must read between the lines of what sounds so nice. He said, “The launching of the euro was only a first step. You can’t have a single currency without having a more coordinated economic policy.” Well, one needs to read that as “a system of more coordinated political and economic control.” Yes, just as we saw the EU flow from the European Common Market. We were in Germany shortly after the changeover and heard dozens of people tell us that switching to the Euro had disastrous effects upon Europe’s most prosperous nation—some spoke of losing 50% of the value of their entire savings and retirement!
What Experts Say
Lew Rockwell, Chairman of the Ludwig von Mises Institute shares his opinion on this move: “A world paper currency and world central bank would heighten the moral hazard and lead to a global inflationary regime such as we’ve never seen. There would be no escape from political control at that point.” It would allow every one to spend way beyond their means and cash in on this new opportunity. Henry Hazlitt, free market economist, adds, “Inflation tears apart the whole fabric of stable economic relationships. It leads men to demand totalitarian controls. It ends invariably in bitter disillusion and collapse.” A world fiat currency would be the surest way to accelerate the development of a true global government and the destructions of national sovereignty. Bob Chapman, editor of the International Forecaster, told New American Magazine on this subject, “A global central bank would be a disaster. It means the acceptance of world slavery.” Wow, Bob, how do you feel about it? He stated then that the present international monetary system was being deliberately destroyed precisely to bring about a global currency like the bancor. “It’s just not fiscal and monetary policy. It is every facet of your life that these elitists want to control.” And so the runaway train goes.
There are many who have some awesome ideas on how to guarantee that we in America don’t get swallowed up by this global whale. Tying the currency to gold (with the goal of returning to the gold standard), cutting back on taxes and spending, higher interest rates to strengthen the dollar, and so forth. Said Rockwell, “Under a gold standard, the physical metal is the limit and the market is the master. Under a global paper system, the paper provides no limit whatsoever and the politicians are the masters.” Heaven forbid. Jim Rickards, director of market intelligence for Omnis, explains, The first country that goes to the gold standard will, in effect, dominate the world of finance because they will have the currency that everyone wants...Would you rather have a gold-backed dollar or a paper SDR?” What’s missing right now, he said, is the political will to do it. What you are going to see over the next few years is a global struggle between the forces who want to create new forms of paper and just give it a different name and a different issuer and continue to flood the world with paper liquidity and keep the game going on the one hand, versus people who will recognize that the only true form of money is gold and will start bidding up the price of gold against the dollar.”
Would this Congress be willing (they are able) to do this? We’ll know in a few months, but we still have a very liberal Senate who would balk at anything stopping this train. It will take another election like this last one to make any potential permanent change. And in 2012, we not only have the presidency up, we have a much higher number of very liberal Senators up for re-election too. In other words, if this economy continues to lag and show the failures of the socialistic Obama administration, it is possible Americans could bring this train to a halt.
What the Globalists Say
Proponents like Jeffrey Garten of the Council on Foreign Relations (CFR) speak of how we already have a World Trade Organization, World Court, and World Health Organization as proof that we should go all the way. He wants to see this global entity become a regulator of financial institutions and a risk monitor, push national authorities to “modify their policies,” coordinate national stimulus programs (yeah, sure, we’ve already seen what they can do), orchestrate a “global stimulus program,” force taxpayers to bail out companies (all over the world, so you know which country will fork out most of it!), and even act as a bankruptcy court.
The IMF called for global “imbalance” taxes (Karl Marx would have loved this! Read this, “Take from the ‘haves’ and give to the ‘have-nots’), capital controls (who gets the money to grow and who doesn’t), and a true world financial regulatory regime. With this new IMF, there would be zero accountability! That’s right; our Congress would have less to say about this as it now has with the Federal Reserve. Zip. Who does the IMF answer to? The G20, many of whom are calling for a new international financial system, (France’s Sarkozy, Russia’s Medvedev, China’s Xiaochuan) is at the forefront and leaves the IMF totally unaccountable in truth. Add these men to those pushing hard: ex-Fed Chairman Volcker, European Central Bank boss Jean-Claude Trichet, and U.S. Treasury Secretary Timothy Geithner. When Geithner announced this, the dollar instantly plunged! He had to backtrack really fast, as his stripes had been exposed. So much for a free-market proponent chosen by Obama. Some areas are already planning continent-wide currencies such as Africa. There are three currencies in use in Africa right now and a continental currency called the afro (no connection to the hairdo!) is set for completion in 20 years. In Asia, calls for a regional currency are growing stronger. Arabian nations are planning their own common currency right now too. The CFR’s Director of international economics is pushing for two currencies to rule in different parts of the world: the dollar and the euro. Others are pushing for a “DEY,” a “basket” of dollars, euros and yen controlled by a global central bank. Each one is spelled
What is ironic is that the likely imminent collapse of the world’s current fiat “reserve currency,” (The dollar) is being used as an excuse to implement a global fiat currency. We must speak up, educate our Congressmen about this (who probably know very little), and push for a gold-backed currency like we used to have (until 1971) when we impacted the world’s economy positively. Otherwise, it will become impossible as wealth is steadily transferred from humanity to the banking oligarchy and its ever-expanding global government. The goal of these people is no later than 2024. Rickards says the IMF’s SDRs could replace the dollar as the international reserve currency in 2-5 years, as the IMF is already creating liquidity out of thin air. Says Rickards, “This is not speculation. They’ve already done it. They are positioned to become a global central bank.” By the way, president Obama has supported this completely.
Freedom is not free and if we do not start a groundswell of opposition to such a scheme, the freedom we have known will come tumbling down so fast that everyone will be shocked. The end result will be catastrophic. Whoever own the gold, rules, as the saying goes. That was when gold backed our currency. Now, it’s “Whoever owns the SDRs, rules.” The world’s elite is on a mission to bring about this new world monetary order just around the corner. Let’s not let that happen. Please, please, please write your legislators and get them on board the train to freedom and willing to stop this runaway train now.