Currency Watch--Bancor
We have spoken in the past about the International Monetary Fund and how they seem to be in the news (Wall Street Journal anyway) almost every day.
We also know that the Bible tells us that some sort of global currency/financial system will be in place when the Antichrist starts taking over.
So we can be continue watching for a global currency to take front and center stage.
Today, I ran across this headline;
Bancor: The Name Of The Global Currency That A Shocking IMF Report Is Proposing
Sometimes there are things that are so shocking that you just do not want to report them unless they can be completely and totally documented. Over the past few years, there have been many rumors about a coming global currency, but at times it has been difficult to pin down evidence that plans for such a currency are actually in the works. Not anymore.
A paper entitled "Reserve Accumulation and International Monetary Stability" by the Strategy, Policy and Review Department of the IMF recommends that the world adopt a global currency called the "Bancor" and that a global central bank be established to administer that currency. The report is dated April 13, 2010 and a full copy can be read here. Unfortunately this is not hype and it is not a rumor. This is a very serious proposal in an official document from one of the mega-powerful institutions that is actually running the world economy. Anyone who follows the IMF knows that what the IMF wants, the IMF usually gets. So could a global currency known as the "Bancor" be on the horizon? That is now a legitimate question.
Well, the IMF report believes that the adoption of a true global currency administered by a global central bank is the answer.
The authors of the report believe that it would be ideal if the "Bancor" would immediately be used as currency by many nations throughout the world, but they also acknowledge that a more "realistic" approach would be for the "Bancor" to circulate alongside national currencies at first....
See it here; http://theeconomiccollapseblog.com/archives/bancor-the-name-of-the-global-currency-a-shocking-imf-report-urges-the-world-to-adopt
You will all have to decide for yourselves whether you believe this information to be tangible...but for me, I don't believe it is a coincidence that the IMF is in the news everyday. Something big is brewing with them and we can see that they will soon be bailing out Greece, Spain, Portugal...and who else?
When they have bailed out numerous countries...and those countries then become slave to the lender...then the call will go out for the IMF to just start putting together a "global" plan to pull ALL OF US out the financial fiasco in which we currently find ourselves.
And that plan may be to have a universal money, called the Bancor, and to be administered by a global central bank.
Welcome to the the world of the Antichrist.
posted by dennis at
11:54 AM
2 Comments:
"Dr. Doom"
Nouriel Roubini, the New York University economics professor also known as Dr. Doom for his dire predictions about the economy, remained true to his identity when he tweeted Wednesday that the chances of a "double dip" recession are now more than 40%. In an interview with CNBC (GE) this morning Roubini explained his reasoning, saying that not only the second half of 2010 be worse than the first half, but that the government and the Federal Reserve are out of policy moves to stimulate the economy.
See full article from
http://www.dailyfinance.com/story/media/economist-nouriel-dr-doom-roubini-again-lives-up-to-nickname/19609166/
Got this off of Wikipedia... you'll see Obama's name in here too.
The bancor was a World Currency Unit of clearing that was proposed by John Maynard Keynes, as leader of the British delegation and chairman of the World Bank commission, in the negotiations that established the Bretton Woods system, but has not been implemented.[1]There are some suggestions from the IMF of the possibility of its use in future.[2][3]
It was to be initially fixed in terms of 30 commodities, of which one would be gold. It would stabilize the average prices of commodities, and with them the international medium of exchange and a store of value. Central to Keynes' proposal was to tax countries' current account surpluses, encouraging domestic demand and promoting global trade balance.[4]
The Americans made a comparable plan for reform that included a world currency called the unitas. At Bretton Woods in 1944 U.S. President Franklin D. Roosevelt told U.S. Treasury Secretary Henry Morgenthau, Jr. to prepare for an international currency to be implemented after World War II.[citation needed] Harry Dexter White at the U.S. Treasury formulated plans for the unitas.[citation needed]
In practice, until the collapse of the Bretton Woods system in 1971, gold itself filled this role, with the U.S. dollar fixed to gold and many other currencies fixed to either the U.S. dollar or directly to gold.
There have been variations on the model of the bancor recently, such as having a currency unit for regional trade organizations such as the North American Free Trade Agreement (NAFTA), ASEAN (Association of Southeast Asian Nations), etc. In this model the commodities that would be placed into the pool would be limited to a fixed number of the currencies of the partner nations, and this would be done on an annual basis with agreement on prerequisites for withdrawal
A little aboutMr. John Maynard Keynes...
the advent of the global financial crisis in 2007 has caused a resurgence in Keynesian thought. Keynesian economics has provided the theoretical underpinning for the economic policies of President Barack Obama of the United States, former Prime Minister Gordon Brown of the United Kingdom, and other global leaders to ease the late 2000s economic recession.[2]
Keynes is widely considered to be the father of modern macroeconomics, and by various commentators such as economist John Sloman, the most influential economist of the 20th century.[3][4][5] In 1999, Time magazine included Keynes in their list of the 100 most important and influential people of the 20th century, commenting that; "His radical idea that governments should spend money they don't have may have saved capitalism".[
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