Talmud Times: China wants one world currency.

[mgt23]

http://business.timesonline.co.uk/tol/business/economics/article5961065.ece

[mgt23]

http://online.wsj.com/article_email/SB1 ... DQyWj.html

i've been looking at this for a while for i believe the IMF is zionist controlled. I think the SDR are the new world currency to be issued maybe after a false flag. Straight out of the protocols. Watch the dollar go down people.

[joeblow]

http://en.wikipedia.org/wiki/Special_Drawing_Rights

SDRs are defined in terms of a basket of major currencies used in international trade and finance. At present, the currencies in the basket are the euro, the pound sterling, the Japanese yen and the United States dollar.

SDRs are used as a unit of account by the IMF and several other international organizations. A few countries peg their currencies against SDRs, and it is also used to denominate some private international financial instruments.

SDRs were originally created to replace Gold and Silver in large international transactions. Being that under a strict (international) gold standard, the quantity of gold worldwide is relatively fixed, and the economies of all participating IMF members as an aggregate are growing, a perceived need arose to increase the supply of the basic unit or standard proportionately. Thus SDRs, or "paper gold", are credits that nations with balance of trade surpluses can 'draw' upon nations with balance of trade deficits.

So-called "paper gold" is little more than an accounting transaction within a ledger of accounts, which eliminates the logistical and security problems of shipping gold back and forth across borders to settle national accounts.

Joseph Stiglitz has argued that usage by central banks of SDRs as foreign exchange reserve could be viewed as the prelude to the creation of a single world currency. It must be understood that Gold and Silver have filled the role as global currencies for several thousand years of recorded history, and that the SDR as a storage of value is not a normal fiat currency.

It has also been suggested that having holders of US dollars convert those dollars into SDRs would allow diversification away from the dollar without accelerating the decline of the value of the dollar.

Other uses

SDRs are the basis for the international fees of the Universal Postal Union, responsible for the world-wide postal system.

As a spinoff from the International Postal Union value transfer rules that use the SDR (but via the International Telecommunications Union as sister UN agency) the SDRs unit of value is used to transfer roaming charge files between international mobile telecoms operators and charges for some radio communications.

Banking and finance system support

Support for SDRs in the global finance system has historically been very weak, as other fiat currencies have largely supplanted the SDR as value storage mechanisms

    * Some banks in Canada, Australia and NZ allow account holders to hold USD, Euros and Australian Dollars. This should not be confused with holding and SDR valued account.
    * Support for SDR accounts in the US, UK, Malta and Ireland and the Eurozone is non-existent.
    * Consumer banking support for SDRs in Australia, Canada and NZ is also non-existent.

Value

The value of one SDR in terms of United States dollars is determined daily by the IMF, based on the exchange rates of the currencies making up the basket, as quoted at noon at the London market. (If the London market is closed, New York market rates are used; if both markets are closed, European Central Bank reference rates are used.)

[joeblow]

http://en.wikipedia.org/wiki/World_Currency_Unit

The World Currency Unit (WCU) is an indexed unit of account (unit of account) that stands for a unit of real global purchasing power. Proposed by Lok Sang Ho of Lingnan University, Hong Kong, it was first intended to be the basis for denominating global bonds, a debt instrument that is issued globally and subscribable by people and institutions around the world. Since each unit by design represents a stable unit of purchasing power, the stipulated interest rate on WCU-denominated bonds represents a real interest rate. In principle, the common denomination of bonds by issuers from different parts of the world using the WCU, as well as the greater transparency of real interest rates, will produce more efficient capital markets, as savers and borrowers around the world converge in their understanding of what each basis point of interest means and are protected against two key sources of uncertainty, namely inflation and exchange loss risks.

http://www.ln.edu.hk/cpps/wcu/wcu.php

On each business day we will announce the updated valuation of the WCU2000 in each listed currency as well as how many units of the listed currencies a WCU2000 unit will buy.



http://seekingalpha.com/article/124344- ... b_articles

Saving the Economy: Applying the Damage Multiplier in Reverse

The world has witnessed the working of the "damage multiplier:" price declines in one asset category, namely housing and in particular housing in the subprime segment, have caused declines in other asset categories and eventually produced gigantic damage to the American and even the global economy.