Global Super-Currency To Flood the World

[Pharaoh]

The Telegraph, London
Could this be the beginning of one global currency?



http://mindbodypolitic.com/?p=1141 :freak:






Monday, March 16, 2009

The International Monetary Fund is poised to embark on what analysts have described as “global quantitative easing” by printing billions of dollars worth of a global “super-currency” in an unprecedented new effort to address the economic crisis.

Alistair Darling and senior figures in the US Treasury have been encouraging the fund to issue hundreds of billions of dollars worth of so-called Special Drawing Rights in the coming months as part of its campaign to prevent the recession from turning into a global depression.

Should the move, which is up for discussion by the summit of G20 finance ministers this weekend, be adopted, it will represent a global equivalent of the Bank of England’s plan to pump extra cash into the UK economy.

However, economists warned that the scheme could cause a major swell of inflation around the world as the newly-created money filters through the system. The idea has been suggested by a number of key figures, including billionaire investor George Soros and US Treasury adviser Ted Truman.

Simon Johnson, former chief economist at the IMF, said: “The principle behind it is that everyone would get bonus dollars and instead of the Federal Reserve having to print them, everyone gets them.

“The objective is to create a windfall of cash. However, if everybody goes out and spends the money it could be very inflationary.”

[FLAprogressive]

1. oh, here we go.

:popcorn:

[Terry in Austin]

8. Shopping, 2011

"Sorry, my wheelbarrow has a flat tire."
"Deal! You got change for a chicken?"
"Oboy, payday -- now we can insulate the living room."

[opihimoimoi]

2. Something smells ...... .................. ..................... ........... .o

[thereismore]

3. I thought this was the onion. It isn't? nt

[Gin]

5. globalization has worked so well for so many....I smell another

pick pocket scheme by the finance gurus.

[Pharaoh]

7. Power would be totally centralized

with a single currency.


Think about it,

[Pharaoh]

4. Google it

global super currency,


It is being discussed

[Pharaoh]

6. From the Telegraph UK

Home » Daily Dispatches
IMF urged to flood world with global super-currency
Submitted by cpowell on Tue, 2009-03-17 14:30. Section: Daily Dispatches

By Edmund Conway
The Telegraph, London
Monday, March 16, 2009

http://www.telegraph.co.uk/finance/financetopics/recession/4986287/IMF-p...

The International Monetary Fund is poised to embark on what analysts have described as "global quantitative easing" by printing billions of dollars worth of a global "super-currency" in an unprecedented new effort to address the economic crisis.

Alistair Darling and senior figures in the US Treasury have been encouraging the fund to issue hundreds of billions of dollars worth of so-called Special Drawing Rights in the coming months as part of its campaign to prevent the recession from turning into a global depression.

Should the move, which is up for discussion by the summit of G20 finance ministers this weekend, be adopted, it will represent a global equivalent of the Bank of England's plan to pump extra cash into the UK economy.

However, economists warned that the scheme could cause a major swell of inflation around the world as the newly-created money filters through the system. The idea has been suggested by a number of key figures, including billionaire investor George Soros and US Treasury adviser Ted Truman.

Simon Johnson, former chief economist at the IMF, said: "The principle behind it is that everyone would get bonus dollars and instead of the Federal Reserve having to print them, everyone gets them.

"The objective is to create a windfall of cash. However, if everybody goes out and spends the money it could be very inflationary."

[CJCRANE]

10. Here's the full link:

http://www.telegraph.co.uk/finance/financetopics/recession/4986287/IMF-poised-to-print-billions-of-dollars-in-global-quantitative-easing.html

(there seems to bit missing at the end of the one you posted).

BTW any old-school conspiracy theorists might have heard of the "Mondo" during the 90s. Seems like we're getting a step closer to it (and the PTB are still using the same problem-reaction-solution MO).

[Nay]

9. What on earth could possibly be accomplished by this? The moment

that this is announced, prices will shoot through the roof on everything unless controls are put on prices.
Secondly, once all that money is spent (and it will be spent quickly in an inflationary environment), we're back in the same hole, except deeper! How does this fix any systemic problems? It doesn't. It just staves off the day of reckoning and makes it worse when it finally gets here. And really, why just toss out cash? If you want to help people here, issue electronic credits that can only be used to pay outstanding debt; don't give the many millions of ppl more money to be stupid with--actually help them by removing debt (although if they haven't learned their lesson and the lenders are still stupid, they may run it right up again). But of course, I am assuming they want to help the world out of the problem, not just manufacture a way to screw us again....oh, shit.

You know what's scary? If this is what the big guys are thinking of doing, we are up shit creek without a paddle. Because they only want one thing--to have us by our short and curlies.

[Pharaoh]

11. People need to eat and

pay the rent, this at the minimum is a tactic to give them more time to figure out what the fuck to do before the wheels fall off the cart.

[CJCRANE]

14. If you look at the financial crisis through the lens of

"problem-reaction-solution" (with the goal of a truly global market with a global currency) then it starts to make some sense.

(Although looking at it as the ultimate heist by the Bush admininistratin as they walked out the door, also makes sense).

[NoPasaran]

12. So, will I be getting a check?

Or will they just toss bales of the stuff out of helicopters?

[Pharaoh]

13. I am clueless

to the details as everyone else is.

[GoesTo11]

15. The real goal here?

That’s the nature of the so-called Keynesian revolution. It is not a branch of economic science; it is a branch of Leninism, a blend of collectivist ideology reinforced with unmatched expertise on conspiracy, street fighting and barricades.