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IMF doc on world currency suggestions

okdude123
12-14-2010, 07:15 PM
This IMF document was actually quite an interesting read about suggesting a new global currency named Bancor in honor of Keynes who thought about it originally in 1942. Now in 2010, it is making the rounds again and included in this IMF pdf. If you fast forward to Chapter #48 onwards, it talks about the possible implementations of a global currency. http://www.imf.org/external/np/pp/eng/2010/041310.pdf

From reading it all, it is obvious that is not an overnight thing and if it happens, will take time to convince most countries. Question I have is for those economists amongst you in this forum.......Would a world currency eventually strip the US of printing it's way out of debt if the USD eventually loses it's reserve currency status? My understanding is that the US is the only country that can print money to pay for its debt as it is still the worlds reserve currency.


http://www.imf.org/external/np/pp/eng/2010/041310.pdf

PFC5
12-14-2010, 09:06 PM
A one world currency would remove that ability to just print money. That is why Greece, etc. cannot just print money to pay off their debt. If they could it would devalue the Euro and effect all the other countries money value in the EU since it is the same money.

On another note, the bible speaks of a one world currency as part of the prophecies of the End of Days, the rise of Satan, and the second coming of Christ. :eek:

okdude123
12-15-2010, 12:05 AM
A one world currency would remove that ability to just print money. That is why Greece, etc. cannot just print money to pay off their debt. If they could it would devalue the Euro and effect all the other countries money value in the EU since it is the same money.

On another note, the bible speaks of a one world currency as part of the prophecies of the End of Days, the rise of Satan, and the second coming of Christ. :eek:

Never understood why Greece and so many other countries thought it was such a good idea to give up their rights to their currencies. Sometimes the bible makes sense :eek:

A friend of mine would really like me to read this book http://www.amazon.com/Creature-Jekyll-Island-Federal-Reserve/dp/0912986212 I think I will take him up on his offer as I don't know or understand enough about the system.

Cygnus
12-15-2010, 12:46 AM
Well not really a currency per se, but the mark of the beast...and you won't be able to buy or sell unless you accept the mark...

BTW since europe uses the federal reserve bank, they can print money like US can. Thats how they were able to bail out greece recently. US contributed to the bail out as well. There have been multiple conspiracy theories that a new currency will be created in north america to encourage greater free trade amongst US, canada, and mexico. But since US and europe are tied together via the federal reserve bank, this will be interesting to see... One thing is certain, the value of gold and other precious metals should continue to escalate.

A one world currency would remove that ability to just print money. That is why Greece, etc. cannot just print money to pay off their debt. If they could it would devalue the Euro and effect all the other countries money value in the EU since it is the same money.

On another note, the bible speaks of a one world currency as part of the prophecies of the End of Days, the rise of Satan, and the second coming of Christ. :eek:

PFC5
12-15-2010, 02:21 AM
Well not really a currency per se, but the mark of the beast...and you won't be able to buy or sell unless you accept the mark...

BTW since europe uses the federal reserve bank, they can print money like US can. Thats how they were able to bail out greece recently. US contributed to the bail out as well. There have been multiple conspiracy theories that a new currency will be created in north america to encourage greater free trade amongst US, canada, and mexico. But since US and europe are tied together via the federal reserve bank, this will be interesting to see... One thing is certain, the value of gold and other precious metals should continue to escalate.

The mark of the beast comes AFTER the one world currency, and is during the time of tribulation while satan walks the earth, before Christ returns again to fight him.

We helped bail out Greece because we contribute to the IMF.

Stew4HD
12-15-2010, 03:29 AM
The end is nigh...........

Bob WB3LEQ
12-15-2010, 09:29 AM
We soon will not need a world currency. If you watch the exchange rates between currencies you will see they are starting to reach a 1:1 value. Look at this in relationship to the price of gold and precious metals which continues to rise. In effect it appears we are heading for a "least common denomination" based on equal values between the world's most commonly exchanged countries. Check the historic values over the last ten years and you will see this trend is progressing. Compare the US dollar to the UK Pound, Canadian dollar, European Euro, and the Australian dollar over the last 5 - 10 years.

Current [within 5 minutes] precious metals values as traded:
http://www.fidelitrade.com/products/product_list_top.asp

International currency exchange rates with history available:
http://www.oanda.com/currency/converter/

Cygnus
12-15-2010, 12:09 PM
The mark of the beast comes AFTER the one world currency, and is during the time of tribulation while satan walks the earth, before Christ returns again to fight him.

Not true, the mark of the beast could be the world currency, as the Bible does not say what the mark is. Nowhere does it mention a one world currency...thus I say that could be the mark. BTW satan already walks the earth ever since he was cast out of heaven thousands of years ago... Recall the serpent (satan) was in the garden of Eden.

The end is nigh...........

This is true. Those with understanding are sitting back and watch as the events unfold...

Stew4HD
12-15-2010, 09:49 PM
Not true, the mark of the beast could This is true. Those with understanding are sitting back and watch as the events unfold...

I have heard that the 'end is nigh' since I was a kid... I guess 'nigh' could mean 1 year, 10, 100, 100, 1,000 years depending on what time table is used.. There is always someone spouting that the end of the world is near, that all the signs are there, etc...
Oh look there goes another sign.. the Ruble just rose against the USD...
*pauses to drop on my knees and pray*...
Oh look, the Ruble just lost that gain... :D:what::hithere:

okdude123
12-15-2010, 11:30 PM
I have heard that the 'end is nigh' since I was a kid... I guess 'nigh' could mean 1 year, 10, 100, 100, 1,000 years depending on what time table is used.. There is always someone spouting that the end of the world is near, that all the signs are there, etc...
Oh look there goes another sign.. the Ruble just rose against the USD...
*pauses to drop on my knees and pray*...
Oh look, the Ruble just lost that gain... :D:what::hithere:

The 'end is nigh' is for all of us since the day we born. No guarantees in life or if we will live another day anyway so why even think about it :lol: I'm more comfortable with the thought that everyone knows right from wrong and whatever we choose will be settled when we passover.

Stew4HD
12-16-2010, 01:41 AM
The 'end is nigh' is for all of us since the day we born. No guarantees in life or if we will live another day anyway so why even think about it :lol: I'm more comfortable with the thought that everyone knows right from wrong and whatever we choose will be settled when we passover.

I am with you! I try to only worry about things that I can do something about :D

PFC5
12-16-2010, 01:53 AM
I am with you! I try to only worry about things that I can do something about :D

That is how my wife is, but I like to try to keep options open on what may one day be coming. I can understand both ways of looking at it, and your way is more inline with the serenity prayer. The part about "give me the strength to accept the things I cannot change and the wisdom to know the difference". :lol:

Stew4HD
12-16-2010, 02:08 AM
That is how my wife is, but I like to try to keep options open on what may one day be coming. I can understand both ways of looking at it, and your way is more inline with the serenity prayer. The part about "give me the strength to accept the things I cannot change and the wisdom to know the difference". :lol:

Notice I said "try" cuz it is easier said than done when my 401K goes POOF... and the dread spreaders yapping the negative news everyday...

okdude123
12-16-2010, 03:30 AM
Notice I said "try" cuz it is easier said than done when my 401K goes POOF... and the dread spreaders yapping the negative news everyday...

"try" works for me too :lol: I'm still hoping that the part of PFC5's pray that reads "the wisdom to know the difference" will one day work for me, but it's slow going!