The Economist Magazine - Get Ready for the Phoenix 01/9/88
The World Finiancial System - Fiat Currency
The history of Fiat Money, by it's very design is one of failure. In fact, every fiat currency since the Romans in the first century has ended in devaluation and collapse. The only aspect of fiat currencies that have stood the test of time is the inability of political systems to prevent the devaluation and debasement of this toilet paper money by letting the printing presses run wild.
No one notices the slow death of a fiat currency, but one thing we do know, is that they all die. So far in the world we have seen just over 3800 fiat currencies and they have all become worthless. Meanwhile, honest money, gold, silver, or anything not created by man, still holds value; just as it held value thousands of years ago.
Prominent World Oligarchy Leaders and Central Bankers
have been promoting a Fiat world-currency scheme, preparing for a united cashless world currency using RFID and they are confident that the groundwork has been sufficiently laid to achieve the goal. Former President and current Prime Minister of Russia Dmitry Medvedev has been among the most vocal supporters.
At a G-8 meeting, he actually pulled a “united future world currency” coin out of his pocket bearing the words “unity in diversity.” Then, he explained to the audience that it “means they’re getting ready.
If the U.S. dollar is being devalued so rapidly, then why does it sometimes increase in value against other global currencies? Well, it is because everybody is recklessly printing money now. The truth is that it is not just the U.S. Federal Reserve which has been printing money like there is no tomorrow but out of control money printing has also been happening in the UK, in the EU, in Japan, in China and in India.
There are times when one particular global currency will fall faster than the others, but the reality is that they are all being rapidly devalued. Unfortunately, this is a recipe for a global economic nightmare.
Right now you can almost smell the panic as it rises in global financial markets. Investors all over the world are racing to get out of paper and to get into hard assets. Just about anything that is "real" and "tangible" is hot right now. Agricultural commodities have exploded in price over the past year. Many investors are even gobbling up art and other collectibles.
Paper Money is No Longer considered to be Safe
and all over the globe investors are watching all of the reckless money printing that has been going on and they are becoming alarmed. An increasing number of investors and financial institutions are putting their wealth into hard assets that are real and tangible in an effort to preserve their wealth.
These 6 charts show how central banks all over the globe have been recklessly printing money over the last 30 years.
Monetary unions, where a collection of national governments surrender their power over money to international institutions, are popping up around the world. In recent decades, there has been a declining number of currencies as more countries abandon their own currencies to use a multinational currency, such as the euro.
Africa already contains a patchwork of regional supranational currencies, including one in West Africa, another in Central Africa, and a group of countries that use the South African Rand. A plan to introduce a continental currency - sometimes referred to as the “afro” - controlled by the already existing African Union’s African Central Bank.
In Asia, calls for a regional monetary union are growing stronger. Arabian nations, through the Gulf Cooperation Council, are planning their own common currency right now. In closer proximity to the United States, a group of Caribbean nations formed the Eastern Caribbean Currency Union. All use the East Caribbean dollar.
More recently, a number of leftist Latin American regimes created the SUCRE under the leadership of socialist despot Hugo Chavez. And a South American currency is currently in the works. Significant numbers of nations have also unilaterally abandoned their own currencies and switched to the dollar, such as Ecuador and El Salvador.
In Europe, while not officially joining the Eurozone, numerous small countries have also switched to the euro and this is exactly what many proponents of a global fiat currency are promoting as a means to that end. Once there are fewer currencies and the principal of supranational currency is established, such as has already occurred with the euro, it becomes easier to simply merge them.
At recent G20 confabs, the centralization of the world’s monetary system has indeed been a hot topic. Headlines around the world announced - boldly and with good cause - the imminent arrival of a “new world order,” a global currency, a world central bank, and a planetary monetary-policy regime.
A G20 declaration for example, states, “We have agreed to support a general SDR allocation which will inject $250 billion into the world economy and increase global liquidity.” In simpler terms, printing international fiat money.
No strategy for dramatic, unpopular change would be complete without a public media campaign. So, of course, among the prominent voices throwing their weight behind a global fiat currency and a global central bank are some of the most influential media outlets in the world. The Economist wrote an article saying, “This means a big loss of economic sovereignty, but the trends that make the [new hypothetical global currency] so appealing are taking that sovereignty away in any case.”
The New York Times took up the issue with a piece from prominent Council on Foreign Relations insider and global central bank promoter Jeffrey Garten calling for a “global Fed.” After praising the development of various unconstitutional institutions in the United States, most notably the Federal Reserve, Garten wrote, “The world needs an institution that has a hand on the economic rudder when the seas become stormy. "It needs a global central bank.”
A Newsweek article entitled “We Need a Bank of the World,” Garten claimed, “The financial crisis is global, and only an International Central Bank can deal with it.” The piece called for world leaders to “begin laying the groundwork for establishing a Global Central Bank” because “the Fed no longer has the capability to lead singlehandedly.” Garten stated in Businessweek.
“If critics could suspend the hyperventilating for a few minutes, they’d realize a Global Central Bank is becoming a necessity in today’s complex, interconnected world economy.” Meanwhile, the Washington Post ran a story praising the International Monetary Fund’s transformation into a bank of the world. “Bowing to a new economic world order, the IMF would grant fresh powers to the likes of China, India and Brazil.
It would have vastly expanded authority to act as a global banker to governments rich and poor,” wrote Post staff writer Anthony Faiola. “And with more flexibility to effectively print its own money, it would have the ability to inject liquidity into global markets in a way once limited to major central banks.”
The article also mentioned “the IMF’s transformation into a veritable United Nations for the global economy” and quoted various experts praising the developments. World money, with a world central bank, seems a next logical step,” wrote Wall Street Journal editor emeritus Robert Bartley.“ The world elite is on a mission. Its plan to impose a global fiat monetary regime on humanity is well under way.
With the onset of the global financial crisis, which interestingly enough was largely brought on by an asset bubble caused via currency manipulation by the United States’ version of a central bank - the Federal Reserve - international authorities have become increasingly vocal about the supposed need for a world fiat currency controlled by a single World Central Bank.
The United Nations and the International Monetary Fund are the most prominent among them. And both of these Quasi-Governmental Institutions have recently issued reports blasting the dollar and calling for a World Fiat Currency. “A New Global Reserve System, one that no longer relies on the United States dollar as the single major reserve currency. “The dollar has proved not to be a stable store of value, which is a requisite for a stable reserve currency.”
The new UN report said that the IMF should be given the authority to print its own fiat currency, claiming that the new system “must not be based on a single currency or even multiple national currencies but instead, should permit the emission of international liquidity — such as [Special Drawing Rights] — to create a more stable global financial system.” SDRs are “assets” issued by the IMF with a value currently based on multiple national fiat currencies.
Over the last 30 years virtually the entire world has developed a great love affair with fiat currency... This is not by accident but rather it is by design with Communist Russia being conspicuously absent from the mix. Make no mistake the World Financial System is preparing all Nations for a new Global currency. One that will be controlled by the International Monetary Fund (IMF) based on a digital Gold format as a "Cashless Fiat Currency". The International Monetary System will use every “crisis as a opportunity” for “a new global currency issued by a global central bank.”
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