Thursday , 2 July 2020


IMF Proposing New World Currency to Replace U.S. Dollar & Other National Currencies! (+51K Views)

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Over the past few years, there have been many rumors about a coming globalcurrency-300x2831 currency, but at times it has been difficult to pin down evidence that plans for such a currency are actually in the works but not anymore.  A shocking new report by the IMF is proposing just that – a global currency beyond national control! @A Financial Site For Sore Eyes & Inquisitive Minds Words: 820

So says an article* on theeconomiccollapseblog.com which Lorimer Wilson, editor of www.munKNEE.com, has reformatted into edited […] excerpts below for the sake of clarity and brevity to ensure a fast and easy read. (Please note that this paragraph must be included in any article reposting to avoid copyright infringement.)@Economic Developments

The article goes on to say in further edited excerpts:

More on the Proposed New Global Currency

The IMF recommended on April 13, 2010 that the world adopt a global currency called the “Bancor” and that a global central bank be established to administer that currency. 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.

So where in the world did the name “Bancor” for a global currency come from? Well, it turns out that “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 and the IMF report referenced above proposed naming the coming world currency unit the “Bancor” in honor of Keynes.

So what about Special Drawing Rights (SDRs)? Over the past couple of years, SDRs have been touted as the coming global currency. Well, the report does envision making SDRs “the principal reserve asset” as we move towards a global currency unit….However, the report also acknowledges that SDRs do have some serious limitations. Since the value of SDRs are made up of a basket of currencies – U.S. dollar (44%); Euro (34%);  Yen (11%); Pound (11%) – so anything affecting those currencies will affect SDRs as well.

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….so the IMF report believes that the adoption of a true global currency administered by a global central bank is the answer [to the shortcomings of the SDRs].

The authors of the report believe that it would be ideal if the “Bancor” would immediately be used as currency by many nations throughout the world, but they also acknowledge that a more “realistic” approach would be for the “Bancor” to circulate alongside national currencies at first.

A global central bank would print and administer the “Bancor”. It would be something like the Federal Reserve, only completely outside the control of any particular national government.

Is that what we really need – a world currency administered by an international central bank modeled after the Federal Reserve? Not at all! The Federal Reserve has devalued the U.S. dollar by over 95 percent since it was created and the U.S. government has accumulated the largest debt in the history of the world under this system – so now we want to impose such a system on the entire globe? [I think not!] Considering how disastrous the Federal Reserve system and other central banking systems around the world have been, why would anyone suggest that we go to a global central banking system modeled after the Federal Reserve?

Conclusion

A global currency (whether it be called the “Bancor” or given a different name entirely) would be a major blow to national sovereignty and would represent a major move towards global government. The truth is, however, that there are some very powerful interests that are absolutely determined to create a global currency and a global central bank for the global economy that we now live in.

It would be a major mistake to think a global currency can’t happen

*http://theeconomiccollapseblog.com/archives/bancor-the-name-of-the-global-currency-a-shocking-imf-report-urges-the-world-to-adopt

16 comments

  1. As far as I understand the US dollar came off the gold standard in the early 1970s and thus all or most currencies are fiat currencies, of no value than the paper and coins.
    Yes, I believe we need a new world currency but want it to be a currency that is connected to the environment, an ecological currency.
    Now you may think I’m crazy but my personal idea to achieve that is this:-
    We need a new banking system, a new World/Planet-wide Bank based on a fundamental asset to give it sound stability. Gold is no longer capable. So crazy as it may appear I in only my opinion think we ought make the planet itself the Bank’s base asset, no longer a bank owned by any human or group of humans. A Bank whose base asset and currency is a twelve thousand seven hundred and forty two kilometre diameter spherical coin called planet Earth. From the Bank of Planet Earth we humans borrow a new currency of monetary denominations, paper and coinage with the portrait of the planet the Earth printed and minted upon their surface to remind us humans to consider the environment when making any transaction .
    Well, that’s my idea for what it’s worth

  2. So what values of the US dollars would be equivalent to this so called bancor or whatever they will call it hold? I know if you have nothing it really doesn’t matter but all of us sitting on US dollars to retire on could destroy all our retirement.it would be nice to know which way to head

  3. The dollar is a weapon for the US to wield. If a country disagrees with US policy then they get sanctioned. The dollar must die for the world to be free

    • It’s not “our” dollar. It’s the Rothchilds Federal Reserve Notes. Do you see United States Treasury Note at the top of your bills? I think not.

      The IMF is just as bad, if not worse. We need to end the central banking systrm altogether. Any currency produced with interest attached to it is inherently evil. It’s the “interest” that is killing economies around the world. Fiat money is no longer viable in the 21st Century.
      Without interest attached, you won’t see inflation that cripples everything in sight, especially the housing market.

    • I can’t agree more with you , US dollar being used to punish countries that don’t agree with United States expansionist policy

  4. LOL They say a world currency would be a major blow to national sovereignty and would represent a major move towards global government. Hello! The US dollar is a blow to all countries national sovereignty and the US empire wants to rule the world. Look at the problems the US causes around the world. KILL THE DAMN DOLLAR!

  5. Very interesting view that could happen with the cooperation
    of the governing body.
    Would this mean finally acknowledging all debts unpaid by many big countries? To include every legitimate unsettled bearers instrument ?
    Fair to say coverage of the above would be swayed as honesty
    that is quite exceptable to any legitimate debt holder.

  6. Wow, this is really scary,

    Do you have any idea of what impact a new currency will have on the price of gold and silver (of course for silver you have the day by day industrial consumption so the impact might be lower … or I am wrong? )

    How would they ensure all countries will use this new currency? What if countries with strong currencies will not accept it?

    Best regards,
    Atzaru

    • > Atzaru< … sanctions will be used against recalcitrant nation states and or their ruling elite ….

    • By issuing a tax only payable in its currency. It’s the only reason why any currency has value. That’s why bitcoin or any other crypto currency will never take over the US dollar because even if you get a job where your boss pays you with bitcoin you would still have to pay tax on your income and you can only pay your taxes in US dollars. Not gold, not euros, not even grilled cheese sandwiches.

      • xrp can bridge and settle any currency in 1,5min realtime
        For less then 1cent

      • Nobody is paying taxes in US dollars if the US dollar isn’t worth the paper it’s printed on. Especially when the bank$ters running the US government are determined to steal the wealth of the American people. the easiest way will be through exchange rate between the dollar and a new currency. You have to decouple views about Bitcoin from views on crypto in general. Bitcoin’s network is too slow to be used for day to day currency which is why Bitcoin cash was forked off of it, but that is I believe designed for a 1:1 fixed transfer rate with the dollar and still runs on the same slow network. XRP has its own network which is already being rapidly adopted by large banking system and that network is much faster than Bitcoin’s. It is one of the fastest transacting networks in blockchain.

        Taxes will be payable in whatever currency the country is operating on. You don’t really think Constitutional limitations are going to change that do you? Because they were already circumvented once with the creation of the Federal Reserve.

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