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Doing The Global Currency Shuffle
In mainstream financial circles, the concept of a global currency is often spoken of only with an atmosphere of caution. It is approached always in hypothetical terms. It is whispered of as some far off dream; a socio-economic moon landing in the far reaches of fiscal space. Perhaps in 2015, or 2020, or maybe 2050, but certainly never just over the horizon, or right around the corner posing as an innocuous trade asset created over 40 years ago and used only on rare occasions. Unfortunately, the development of a centralized global security representing the creation of a supranational economic body is much closer than many would care to admit…
The most common argument made in the mainstream against a global currency taking shape is the Read more…
Currencies dropping like stones
The markets have not yet thought about it, but the biggest threat to the Euro is not Greece, Ireland or Portugal, but the dangers posed by the fourth largest economy in Europe, which is also the third largest in the Eurozone, that of Italy. Italy is passing austerity measures but the measures may not be enough. The problem that the Euro faces is that there is little central control over the EU economy, control that exists affects states within Europe that have not adopted the Euro, as well as those that have.
Eleven years ago when the merits of the Euro were debated I argued against it. I was not fondly wishing to hold on to the pound sterling for sentimental reasons. I felt that there was a Read more…
U.S. Dollar at 15 Month Low
The dollar fell to a 15-month low against a basket of currencies on Tuesday, with sterling among the biggest gainers after a rise in UK inflation increased the chances of a UK interest rate hike sooner rather than later.
Relative interest rate expectations also lifted the euro to its highest against the dollar this year, but a reported options barrier at $1.4250 and a sharp sell-off in euro/sterling following the UK inflation data capped its gains.
Consumer prices in the UK last month rose by 4.4 percent, a 28-month high, and more than double the Bank of England’s mid-point target of 2 percent. Money markets are now fully pricing in a quarter point rate hike from the Bank of England in July, versus August before the data.
The yen, meanwhile, was little changed on the day in a tight Read more…
Secretive Plan For a Global Currency
Excerpt from “The Global Economic Crisis: The Great Depression of the XXI Century”
Michel Chossudovsky
Andrew Gavin Marshall (editors)
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Towards a New Global Currency?
Is the Group of Twenty Countries (G20) envisaging the creation of a Global Central bank? Who or what would serve as this global central bank, cloaked with the power to issue the global currency and police monetary policy for all humanity? When the world’s central bankers met in Washington in September 2008 at the height of the financial meltdown, they discussed what body might be in a position to serve in that awesome and fearful role. A former governor of the Bank of England stated:
The answer might already be staring us in the face, in the form of the Bank for International Settlements (BIS)… The Read more…
Currency Meltdown Coming
By Greg Hunter’s USAWatchdog.com
The situation in Japan is getting worse, not better. There are shortages in food, fuel and warm dry shelter. To make matters exponentially worse, nuclear power plants there continue to burn out of control and emit high levels of radiation. Japan is a stark reminder of how fast a modern technologically advanced society can be brought to its knees by an unforeseen calamity.
On the other side of the Pacific, the devastating pictures from that island nation are taking the attention away from our own, much more predictable, calamity coming from a tsunami of debt. As the U.S. and other world governments continue to print money to keep the banks and system solvent, a ball of debt is growing. It is on course to Read more…
The Rule of Gold after the Financial Collapse
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“You can own silver and gold but never any fiat currency issued by someone else”
Peter Cajander
 In a secular world, the operative “Golden Rule” is “He Who Has the Gold Makes the Rules”. The condition of the global financial banking system is untenable. The aggregate amount of debt worldwide is anyone’s guess. The introduction of derivatives and counter claims pushes the chain of obligations into the unknown. All that is left is for central banks to create mountains of uninterrupted counterfeit money to roll over and delay the inevitable. The IMF chart of World Currency Reserve is a skyrocket line to oblivion. It does not reflect a healthy stockpile of treasure, but certainly manifests a new debt machine running to infinity. The Bullion Vault explains this reality in the following manner.
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