The past few years, we have heard about the possibility of global currency replacing the dollar. Some say it will be the Euro and others say Special Drawing Rights (SDR). Up until now, it has been difficult to find real evidence that such a currency is actually being proposed.
Recently, I became aware of paper entitled “Reserve Accumulation and International Monetary Stability” by the Strategy, Policy and Review Department of the IMF that recommends the world adopt a global currency called the “Bancor”.
Keep in mind that I have been reporting on this topic, especially recently, that Obama is planning to drive the dollar and the American economy into the ground. He is doing this in order to set up America on a One World Order system, which would include a new currency. It appears that I was right on target.
The global bank that would handle this currency is called Central Bank that has been established to administer that currency. The bank just happens to be the very bank the Bilderbergs own.
Fresh off of the 2008 Bilderberg Meeting, it looks as if New York Federal Reserve president Timothy Geithner is set to push a new agenda in the world of central banking that was likely decided upon at Bilderberg. (Use this link for a list of those who attended the meeting in Spain May 2009).
Geithner yesterday, wrote an article in the Financial Times calling for a global regulatory banking framework. In addition, Geithner called for the Federal Reserve to have an instrumental role in this new framework.
Geithner cites all of the problems that were actually created by the central bankers in the first place as the rationale for having greater centralized power. It is interesting Geithner decides to write this piece right after the Bilderberg Meeting where some of the most powerful figures in the world of central banking attended.
Not only did Geithner attend, but the attendee list included Ben Bernanke the Federal Reserve Chairman, Henry Paulson the U.S. Treasury Secretary, Jean-Claude Trichet the president of the European Central Bank, Robert Zoellick the president of the World Bank and other high profile bankers.
With the who’s who of central banking attending the Bilderberg Meeting, it is highly unlikely that what Geithner is proposing in his Financial Times article was not discussed at the Bilderberg Meeting. It is no secret that the true objective of the Bilderberg Meeting is to steer the world into accepting a global government.
By establishing a new global regulatory banking framework, this will inch the planet ever closer to a one world currency operating in a cashless society where microchips are used to facilitate transactions. Make no mistake about it, this system will not be good, because it will be controlled by a bunch of criminal psychopaths like the one’s who attended the 2008 Bilderberg Meeting.
…What Geithner is proposing is entirely insane but this is the same tactic that the financial elites used to establish the Federal Reserve back in 1913. They created a crisis and said that the crisis happened because they didn’t have enough power to prevent it.
The Panic of 1907 which was used to justify the passage of the Federal Reserve Act was actually caused by JP Morgan and assorted elite financial interests. They did this so they could use the crisis as an excuse to centralize their control and power over the banking system. Through the Federal Reserve, banks were finally consolidated under its umbrella through the Great Depression.
Throughout the 1920s money was made plentiful, but following the stock market crash of 1929, the Federal Reserve tightened the money supply which put hundreds of community banks out of business and allowed the central bankers to consolidate control over the nation’s banking system.
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. . …The Economic Collapse Blog.com“
You may be wondering where the name “Bancor” come from; I did. “Bancor” is the name of a hypothetical world currency unit once suggested by John Maynard Keynes. Keynes was a world famous British economist who headed the World Banking Commission that created the IMF during the Breton Woods negotiations.
The Wikipedia entry for “Bancor” puts it this way….
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.
The IMF report suggested naming the coming world currency unit the “Bancor” in honor of Keynes.
Remember that I mentioned Special Drawing Rights (SDRs) earlier in this article? In the past few years, SDRs have been discussed as the proposed global currency. The report does see SDRs “the principal reserve asset” as we move closer to the reality of a global currency.
The report states: “As a complement to a multi-polar system, or even—more ambitiously—its logical end point, a greater role could be considered for the SDR.”
The same report also says that SDRs have serious limitations. With the value of SDRs being tied so closely to national currencies, anything that affects those currencies will affect SDRs as well.
Right now, SDRs are made up of a basket of currencies. The following is a breakdown of the components of an SDR….
*U.S. Dollar (44 percent)
*Euro (34 percent)
*Yen (11 percent)
*Pound (11 percent)
The IMF report recognizes that moving to SDRs is only a partial move away from the U.S. dollar as the world reserve currency and urges the adoption of a currency unit that would be truly international. The truth is that SDRs are clumsy and cumbersome. For now, SDRs must still be reconverted back into a national currency before they can be used, and that really limits their usefulness according to the report….
“A limitation of the SDR as discussed previously is that it is not a currency. Both the SDR and SDR-denominated instruments need to be converted eventually to a national currency for most payments or interventions in foreign exchange markets, which adds to cumbersome use in transactions. And though an SDR-based system would move away from a dominant national currency, the SDR’s value remains heavily linked to the conditions and performance of the major component countries.”
BANCOR appears to be the answer?
Does knowing this information help you understand why Obama’s so-called economical experts cannot solve the economy problems when experts they should have been able to by now?
Does knowing this information help you understand why Obama’s so-called stimulus packages and financial reform isn’t working as he said it would?
Does knowing this information help you understand why Obama’s so-called Health Plan and all the other spending he has been doing is only good at running up the debt?
Knowing what you know now, do you see why Obama has to crash the dollar and the economy? The faster he gets it done the faster they can implement this global currency, and the faster Central Bank can fund world economies, and the faster some people can become richer.
Do you remember the video of Obama, Hillary, Bush, and others were secretly meeting with the Bilderbergs. Now we understand more about what they were discussing. Now we know what they were plotting, Bush right along with them, to destroy America’s economy.
I know, the guilty will say that the economy and the dollar are already in serious trouble and that what they are doing will save it. How do you feel about this excuse? Does it make sense to you? It does not to me. If these are the same people that caused the depression, and if these people made a bundle of money doing it, then why would that be a good thing for this nation?
In other words, it’s a lie and we need to stop them in Washington from carrying out their plan. How? We contact our Representatives and ask them what they know about it and how they feel about it? That’s what yyou do, and then tell everyone you can about this idea they are trying to create into reality. Be sure those you elect in this mid-term elections know how you feel about it too.
Jim Tucker, Jr. is an American journalist who, since 1975, has focused on exposing the controversial Bilderberg Group. He is the author of Jim Tucker’s Bilderberg Diary and has appeared in several films.
Tucker is recognised as a “veteran Bilderberg observer” and “the doyen of Bilderberg hunters”
PAY VERY CLOSE ATTENTION TO THE LAST FIVE MINUTES WHEN HE SPEAKS ABOUT AMERICAN NEEDING TO BE A SOCIALIST NATION AND THE NEED TO PASS A HEALTH CARE PROGRAM. NO WONDER OBAMA WAS SO DEMANDING ABOUT GETTING THIS PASSED.