Socialized World Currency

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In this video from 2009, George Soros talks about the New World Order, special drawing rights, the decline of the dollar, and replacing the dollar with an international currency, and how this is already happening on a small scale.

The nations of the EU are controlled by their uniform currency. Soros discusses “socializing” our currency.*

In the CNN Money article of  February, 2011, the IMF calls for a one world currency: –

“The International Monetary Fund issued a report Thursday on a possible replacement for the dollar as the world’s reserve currency.

The IMF said Special Drawing Rights, or SDRs, could help stabilize the global financial system.

SDRs represent potential claims on the currencies of IMF members. They were created by the IMF in 1969 and can be converted into whatever currency a borrower requires at exchange rates based on a weighted basket of international currencies. The IMF typically lends countries funds denominated in SDRs

According to Robert Gilpin in Global Political Economy: Understanding the International Economic Order (2001): “Somewhere between 40 and 60 percent of international financial transactions are denominated in dollars. For decades the dollar has also been the world’s principal reserve currency; in 1996, the dollar accounted for approximately two-thirds of the world’s foreign exchange reserves” (255).

Many of the world’s currencies are pegged against the dollar. Some countries, such as Ecuador, El Salvador, and Panama, have gone even further and eliminated their own currency (see dollarization) in favor of the United States dollar. The U.S. dollar continues to dominate global currency reserves, with 63.9% held in dollars, as compared to 26.5% held in euros (see Reserve Currency).

A 2011 study about the current dominant reserve currency in central banks shows that dollar may not be the obvious dominant currency, because of the major part of Unallocated Reserves reported by central banks.

While they are not a tangible currency, some economists argue that SDRs could be used as a less volatile alternative to the U.S. dollar…” Read more here: CNN Money

In March, 2009, Timothy Geithner said that Washington is “quite open” to Chinese proposals for the gradual development of a global reserve currency run by the International Monetary Fund. He later walked it back, after a drop in the market by stunned global economies. He said the dollars viability depends on our ability to get our economy back.

The Sovereign Independent, referring to the Economist calling for a one world currency, in June of this year, stated, “…Then there’s the real reason: a one-world fiat currency means someone gets to control it. And the international bankers who control it will become the most powerful, wealthiest men in the world — even more powerful and wealthier than they are now. But what so many economists don’t seem to understand is this: a global money could work. Just make sure it’s gold…” Read here: The Sovereign Independent

A one world currency has been talked about for hundreds of years, but, now, when our civil liberties are more endangered than ever before in our history, it is the nimbus over a drowning nation.

 

 

* The UN and the IMF want to remove the U.S. dollar as the world currency to form a socialized currency basket. There is a great deal of support for this among the G20 nations. The creation of a global currency would put our economic control under a global governing body like the IMF or UN, which would not have our best interests at heart, and it would be a Marxist governing body. Globalization of currency is a movement promoted by the UN. It cannot co-exist with our Constitution.

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