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Joined: 2003/11/23
Posts: 4529

 UN economic panel: "We need a global currency!"

[i]A new article regarding this trend toward a global currency system[/i]. - Chris

[b]UN panel touts new global currency reserve system[/b]
Mar 26 04:09PM ET

A UN panel of expert economists pressed Thursday for a new global currency reserve scheme to replace the volatile, dollar-based system and for coordinated steps by rich countries to stimulate their economies.
"A new Global Reserve System -- what may be viewed as a greatly expanded SDR (Special Drawing Rights), with regular or cyclically adjusted emissions calibrated to the size of reserve accumulations, could contribute to global stability, economic strength and global equity," the panel said

As part of several recommendations to tackle the global financial crisis, the panel also noted recovery would require all developed countries, in the short term, to take "strong, coordinated and effective actions to stimulate their economies."

And it stressed the need to "lay the basis for the long-run reforms that will be necessary if we are to have a more stable and more prosperous global economy and avoid future global crises."

The commission, led by US economist Joseph Stiglitz, a frequent critic of globalization and unbridled free markets, is primarily aimed at finding solutions for developing countries.

On the monetary front, Stiglitz, the 2001 Nobel economics laureate, told a press conference here there was "a growing consensus that there are problems with the dollar reserve system.

He noted that such a system was "relatively volatile, deflationary, unstable and (had) inequity associated with it."

"Developing countries are lending the United States trillions dollars at almost zero interest rates when they have huge needs themselves," Stiglitz noted. "It's indicative of the nature of the problem. It's a net transfer, in a sense, to the United States, a form of foreign aid."

This week, China's central bank chief Zhou Xiaochuan suggested the dollar could be replaced as a reserve currency by an International Monetary Fund (IMF) basket comprising dollars, euros, sterling and yen, saying it would not be easily influenced by individual countries.

But the UN panel warned that a two (or three) country reserve system "may be equally unstable."

It said a new Global Reserve "is feasible, non-inflationary and could be easily implemented, including in ways which mitigate the difficulties caused by asymmetric adjustment between surplus and deficit countries."

Stiglitz said his panel's experts were currently trying "to lay out the conceptual framework of how this might be done."

The issue of the world currency reserve is expected to be raised at the April 2 summit of the G20 club of developed and emerging economies.

On Wednesday IMF managing director Dominique Strauss-Kahn said that talks on a new global reserve currency to replace the US dollar were "legitimate" and could take place "in the coming months."

But US Treasury Secretary Timothy Geithner earlier defended the dollar as a key global reserve currency.

"I think the dollar remains the world's standard reserve currency, I think that's likely to continue for a long period of time," he said.

Among other recommendations, the Stiglitz panel proposed western aid to help developing nations out of the crisis, better market regulation, a reform of central bank practices and of international financial institutions, as well as the creation of a new structure such as a United Nations economic council.

It specifically called for immediate, additional funding for developing countries "just to offset the imbalances and inequities created by the massive stimulus and bail-out measures introduced by advanced industrialized countries."

It said the funds could come through the issuance of SDRs approved by the IMF board in 1997.

SDRs are an international reserve asset, created by the IMF in 1969 to supplement the existing official reserves of member countries and support the Bretton Woods fixed exchange rate system.

They are allocated to member countries in proportion to their IMF quotas.

Click [url=]HERE[/url] to read the full article.

Click [url=]here[/url], [url=]here[/url], [url=]here[/url], [url=]here[/url] and [url=]here[/url] to read other recent threads about a proposed "global" currency.


 2009/3/26 17:29Profile

Joined: 2006/6/19
Posts: 927

 Re: UN economic panel: "We need a global currency!"


I don't think this has anything to do with a "one world currency". They are simply talking about not relying so heavily on the dollar as the reserve currency, and instead implementing a combination of existing currencies (yen, euro, dollar, etc.) as a global reserve.

With care in Christ,

Taylor Otwell

 2009/3/26 18:10Profile

Joined: 2003/11/23
Posts: 4529


Hi Brother Taylor...

I'm not saying what this does or does not mean. I think that the articles speak for themselves...and I am not attempting to add or subtract from what is being reported.

However, it seems clear that these nations are trying to create a single, new EXCHANGE currency that would be used by the entire world. What is the big deal of this? The Antichrist in Revelation chapter 13 is a leader of what appears to be a 10 nation (or region) confederation...who has the power over the monetary system of this world -- enough to cause ALL to receive a mark in order to use "money."

The combination of existing currencies (dollar, yen, euro, etc...) that you mentioned was introduced by the Chinese (who obstinately undervalued their currency). However, the article reports that the UN rejects such a notion because this system "may be equally unstable."

The UN panel, led by liberal US economist and 2001 Nobel economics laureate Joseph Stiglitz, favored a singular currency. They concluded that a new Global Reserve "is feasible, non-inflationary and could be easily implemented, including in ways which mitigate the difficulties caused by asymmetric adjustment between surplus and deficit countries."

It is interesting that this has quickly evolved without much media attention...yet would have such a massive impact upon the American economic system. Obama's Secretary of the Treasury, Timothy Geithner, has been the first US official to ever [url=]publicly support such a notion[/url] (although he later recanted). However, Geithner sat on the advisory board for the Group of Thirty, a liberal international economics advisory group that advocates a strong globalization of currency exchange.

Again, this is not a critique of the idea...or a rewriting of what it would all mean. However, I do see how this can all fit within Bible prophecy in regard to the creation of a single world currency exchange. Of course, believers have nothing to fear. Our victory lay with knowing Christ Jesus our Lord. These articles are simply akin to just noticing the times as they slip a temporal weather report.



 2009/3/26 19:03Profile


The plan is to switch to the SDRs [as the lead article mentioned] and then just go digital to that one world monetary system.

It isn't China who worked out this plan.

More history on the IMF, then it's merge with the World Bank and then the WTO etc would clear up how this plan has been speeding up.

[b]Short Quotes:[/b]

The International Monetary Fund was formally created in July 1944 during the United Nations Monetary and Financial Conference. The representatives of 45 governments met in the Mount Washington Hotel in the area of Bretton Woods, New Hampshire, United States of America, with the delegates to the conference agreeing on a framework for international economic cooperation.[4] The IMF was formally organised on December 27, 1945, when the first 29 countries signed its Articles of Agreement. The statutory purposes of the IMF today are the same as when they were formulated in 1944

wikipedia on the IMF


The Bretton Woods Conference:
Birth of a Monetary System

excerpt from

One of the main points in dispute between the American and the British delegations was the degree of flexibility of exchanges and the conditions under which a country could alter its exchange rate. The British, remembering the depression that followed their return to gold, were saying 'that they are never going to be in a position like that again, in which they are tied to the gold standard and have to suffer a depression merely to suit somebody's notions on monetary theories'. Those, like Keynes, who had warned against a return to gold, were now completely in the ascendancy, and the whole British people, with the exception of some banking groups, objected to anything that resembled the gold standard. Although the Fund provided for some flexibility, the British wanted more; 'Our position here is quite the opposite.' We wanted to prevent a return to the 1930s, with floating exchanges, unilateral decisions exchange depreciation. He realised that, if the British delegation made too many compromises, 'Parliament will throw it out.'


"Nixon took his entire Cabinet to Camp David where they determined the course of world economic history. On August 15, 1971, Nixon announced that had directed Treasury Secretary John Connally to "suspend temporarily the convertibility of the dollar into gold or other reserve assets."


Last year's Newsweek - the new new world order -


This next G-20 meeting should be interesting.

We cannot seperate the UN from it's inception from what is taking place now, nor the IMF/World Bank/WTO from the UN.

The above is just scratching the surface of the UN's plan since it's birth.

Debit cards will work world-wide then, but as that man being interviewed from the 2007 G-8 meeting said - the chip would work much better.

Thank you again for the articles Brother.

 2009/3/26 20:11


Not sure which sites are prefered -

[url=]Gordon Brown - "New World Order emerging ... globalization..."[/url]

Most from BBC about [url=]the London Summit.[/url]

[url=]Plan to reform the UN, from G-20.[/url]

[i]'Under our model, no longer will the United Nations provide a forum for the ideological quarrels and the grandstanding that have sometimes crippled the current world body. If we are to have peace in this world, we need a group whose members are united, one that exists to pursue common goals and ideals for the betterment of all.'[/i]

 2009/4/2 19:47

 Re: UN economic panel: "We need a global currency!"

I just found this article and thought it was fasinating that it was written, not one month ago, but over a year ago, before the economic downturn but while Todd Bentley hurt / deceived thousands in FL.

By Dennis L. Cuddy, Ph.D.
April 7, 2008

[Note: Concerning the recent increased violence in Basra, Iraq, remember H.G. Wells in THE SHAPE OF THINGS TO COME (1933) wrote that the world government of the future would come out of a global conference in Basra.]

Some years ago, Ervin Laszlo of the UN Institute for Training and Research spoke about how various crises and a change in man could create a critical instability resulting in a transformation to a New World Order. As I’ve written before, the power elite wants a New World Order with ultimate control over us. However, they have to have an excuse for intervening in our lives. This is accomplished by the use of crises (followed by syntheses), and this article focuses on domestic and international examples of this process.

In Naomi Klein’s THE SHOCK DOCTRINE (2007), she explains the use of crises to promote a “new colonialism” around the world. She indicates the doctrine works as follows: “The original disaster (crisis) ­ the coup, the terrorist attack, the market meltdown, the war, the tsunami, the hurricane ­ puts the entire population into a state of collective shock. The falling bombs, the bursts of terror, the pounding winds, serve to soften up whole societies much as the blaring music and blows in the torture cells soften up prisoners. Like the terrorized prisoner who gives up the names of comrades and renounces his faith, shocked societies often give up things they would otherwise fiercely protect.”

Domestically, the power elite uses “crises,” such as in the area of mental health, as a pretext for intervention. According to the U.S. Surgeon-General’s 1999 Report on Mental Health, over 20% of all children aged 9-17 meet the criteria for a mental health diagnosis. This led to President George W. Bush forming the New Freedom Commission on Mental Health (NFCMH) in 2002, and two years later it produced “Achieving the Promise: Transforming Mental Health Care in America” (remember the word “transforming” used here). The document called for establishing statewide systems to screen all Americans beginning at birth. One state after another began to comply, with the Indiana legislature, for example, on July 1, 2006 amending the school code to consolidate all mental health services “from birth to 22 years of age.”

Educational programs have been a primary vehicle for screening, as the National Institute of Mental Health (NIMH) Research Center at the University of Michigan produced “Social Risks and Psychological Health: Strengthening Mental Health Screening in Head Start Programs: the Family Development Project” saying that “our screening tools have been incorporated as part of Head Start’s regular enrollment procedures.” But Head Start was just the beginning, as Nathaniel Lehrman, M.D., in “The Dangers of Mental Health Screening” (JOURNAL OF AMERICAN PHYSICIANS AND SURGEONS, Fall 2006) reported that according to the NFCMH, “All American parents will receive notice from their youngsters’ schools of the new screening program during the 2005-2006 school year. It will test for mental illness in the 52 million students and 6 million adults working in schools, and expect to find at least 6 million in need of treatment.”

And not to miss any avenues of intervention, Medicaid has also been used in this process, as Carey Goldberg of the BOSTON GLOBE (December 27, 2007) reported in “Mental Screening for Young to Begin” that “annual checkups for the nearly half a million Massachusetts children on Medicaid will carry a new requirement: Doctors must offer simple questionnaires to detect warning signs of possible mental health problems, from autism in toddlers to depression in teens.”

Concerning autism, Organic Consumers Organization on February 25, 2008 reported that “After years of insisting that there is no evidence linking vaccines and autism, the U.S. government has quietly conceded a vaccine-autism case in the Court of Federal Claims.” The Court heard a child’s claim against the government that mercury-containing vaccines were the cause of her autism.” And the Court “concluded that compensation is appropriate.” Despite this finding, states like Maryland require all students to be vaccinated for chicken pox and hepatitis B, and THE WASHINGTON POST (November 14, 2007) reported that “The parents of more than 2300 students in Prince George’s County, MD, could face fines of $50 a day and 10 days in jail if their children do not meet the state’s immunization requirements.”

Note in the first part of this article the emphasis on “mental illness” and the word “transforming.” The power elite emphasizes these and wants screening at ever earlier ages because it wants to transform people’s values which are shaped at a very early age. In education today, William Spady’s “Transformational” OBE (outcome-based education) stresses changing students’ values. And Spady’s values are revealed in his September 1987 document, “Future Trends: Considerations in Developing Exit Outcomes,” in which he states: “despite the historical trend toward intellectual enlightenment and cultural pluralism, there has been a major rise in religious and political orthodoxy, intolerance, fundamentalism, and conservatism with which young people will have to be prepared to deal.”

In addition to education, the power elite has also used, domestically and internationally, religion to accomplish their goal of changing people’s values. Historically, in the July 1908 edition of THE HIBBERT JOURNAL, the “Father of Progressive Education” John Dewey wrote: “Religion and our schools” in which he revealed: “Our schools… are performing an infinitely significant religious work. They are performing the social unity out of which in the end genuine religious unity must grow…. Religion… associated with… dogmatic beliefs… we see disappearing…. It is the part of men to labor persistently and patiently for the clarification and development of the positive creed of life implicit in democracy and in science, and to work for the transformation of all practical instrumentalities of education till they are in harmony with these ideas.” In 1934, Dewey further explained his intended “religious unity” by authoring A COMMON FAITH, in which he explained: “I cannot understand how any realization of the democratic ideal as a vital moral and spiritual ideal in human affairs is possible without surrender of the conception of the basic division to which supernatural Christianity (separating sheep and goats) is committed.” This was the year after Dewey co-authored the first HUMANIST MANIFESTO.

Regarding religion today, Brian McLaren is the leader of the Emergent Church. He’s a product of Bob Buford’s Leadership Network, and Buford was mentored by management guru Peter Drucker. In Discernment Ministry’s HERESCOPE blog (January 24, 2006), Drucker’s model for societal “transformation” is identified as Communitarianism, which emphasizes the common good.

Relevant to the common (public) good, transformation and feudalism (to which the power elite wants to return), Drucker in “The Age of Social Transformation” (THE ATLANTIC MONTHLY, November 1994), wrote: “What do institutions have to do to advance the public good? This, though nobody seems to realize it, is a demand to return to the old pluralism, the pluralism of feudalism.” Drucker is a product of the Frankfurt School (receiving his Ph.D. from the University of Frankfurt before coming to the U.S. in 1937), which has played a critical role in reshaping attitudes, values and beliefs here. Concerning this, in his article Drucker refers to “knowledge workers” as the “newly emerging dominant group” and he said displaced industrial workers “at the very least have to change their basic attitudes, values and beliefs.” He further explained “that knowledge has become the key resource means that there is a world economy, and that the world economy, rather than the national economy, is in control” (another goal of the power elite).

Relevant to Brian McLaren and the Emergent Church movement, Drucker also wrote: “The organizations that have shown the capacity to grow are radically new. They are the ‘pastoral’ churches, which… put the spiritual energies of their members (especially educated knowledge workers) to work on the social challenges and social problems of the community…. The ‘product’ of a church is a churchgoer whose life is being changed. The task of social-sector organizations (including pastoral churches) is to create human health and well being.”

In Brian McLaren’s 2007 book EVERYTHING MUST CHANGE: JESUS, GLOBAL CRISES AND A REVOLUTION OF HOPE (note the words “change” and “crises”), he also emphasizes the “common good” and refers to “radical rethinking.” Robert Schuller on January 17-19, 2008 hosted a “Rethink Conference” attended by President H.W. Bush and Kay Warren, wife of church-growth leader Rick Warren. According to the conference executive director Bill Dallas, they “confronted outdated and preconceived ideas.”

In McLaren’s book, he states that for millions of young adults, “the Christian religion appears to be a failed religion” because it has “specialized in dealing with ‘spiritual’ needs,” failing to address systemic injustice, poverty, ecological crisis and other societal and global dysfunctions. This sounds like the leftist Catholics’ old “Liberation Theology” claim. It also sounds similar to what co-founder of Global Education Associates Patricia Mische said at a November 9-11, 1984 symposium “Toward A Global Society,” where she spoke on “The Spiral of Spiritual/Social Transformation.” She pronounced: “Traditional religion is failing to speak to problems in our society. The need for a New World Order is our greatest challenge and opportunity…. We see resistance to change—resistance to the New Age processes.”

McLaren in his book continued to explain that this failed Christian religion’s threats of hell “lose their effect when those making the threats seem a little defensive, deranged, out of touch, manic…..” Note that he’s saying they are mentally ill! This is similar to New Ager Marilyn Ferguson in THE AQUARIAN CONSPIRACY: PERSONAL AND SOCIAL TRANSFORMATION IN THE 1980s (1980) saying that if people will get rid of “crippling belief systems,” they can have a “transformation of consciousness” and find “sanity within.” More recently, it sounds like Eckhart Tolle’s A NEW EARTH: AWAKENING TO YOUR LIFE’S PURPOSE (2005) promoted by Oprah’s Book Club. He asserts that all of those expressing the certainty that “I am right and you are wrong” are a “dangerous thing in religions.” It reflects a “collective mental illness.” Tolle characterizes “sin” as simply “missing the point” of human existence and suggests that “Eastern wisdom teachings” allow us to “let go of dogmas” and “rigid belief systems.” He also relates that in THE HOLY BIBLE “a new heaven” actually refers to “the emergence of a transformed state of human consciousness.” Note again the terms “mental illness” and “transformed.”

Relevant to “wisdom teachings” and “transformation,” New Age workers Corinne McLaughlin and Gordon Davidson (who has worked for LUCIS TRUST, formerly Lucifer Publishing) have taught “Transformational Politics” at American University and authored SPIRITUAL POLITICS (1994). In their book, they wrote that “The new transformational paradigm is based on certain key ideas which have long been part of the Ageless Wisdom tradition… including creating a synthesis out of adversarial positions, synthesizing the best of hierarchy and democracy for real empowerment, and searching for common ground and the good of the whole…. Transformational politics requires a shift in contemporary consciousness.” In their book, there are sections titled “Synthesis as a Way of Life” and “A Synthesis of Liberalism and Conservatism.” The authors also refer positively to the Communitarian movement and explain that “The Ageless Wisdom teaches that the synthesis of hierarchy and democracy is the next evolutionary step for humanity.”

Both Brian McLaren and Rick Warren (mentioned earlier) recently attended the World Economic Forum at Davos, Switzerland, where members of the power elite also usually are in attendance. Warren is a CFR member who was also mentored by Peter Drucker, and who leads the Purpose-Driven movement (note the word “purpose” is also in Tolle’s book title). Like McLaren, Warren promotes a “new spirituality” that emphasizes a concern about global poverty, etc. I believe that to the extent this shift in emphasis occurs in churches, they will be “transformed” more and more into simply social service agencies. Relevant to this, in his November 14, 2007 MINISTRY TOOLBOX, Warren tells his trained pastors: “You’ve got to protect the unity of your church. If that means getting rid of troublemakers, do it.” By “troublemakers” he’s referring to the fundamentalist or traditionalist “old pillars who only hold things up.”

In Joseph Farah’s WorldNetDaily column of November 30, 2007 he asks, “Why does Rick Warren eagerly seek to find common ground with Muslim leaders while, at the same time, so ruthlessly advocating the disfellowship of Christian believers?” Warren has even complimented Syria, although that nation’s leaders have facilitated radical Muslim (Hezbollah and Hamas) attacks against Israel.

The power elite considers Warren, McLaren, Tolle and others like them useful for their purposes, which includes ostracizing orthodox religious believers whether Christian or Jewish. In the Middle East, for example, using the Delphi Technique, orthodox Jews are portrayed as recalcitrants, unwilling to compromise in order to obtain peace. Simultaneously, a dialectical process is used similar to Communism being used as an antithesis to Capitalism in order to achieve the synthesis (compromise) of a World Socialist Government.

As I’ve written before, CFR member Lincoln Bloomfield, in a study prepared for Secretary of State Dean Rusk (Rhodes scholar) in the Kennedy Administration, wrote that if the Communist dynamic (threat) were greatly abated, the West would lose whatever incentive it has for world government. Today in the Middle East, the same technique is being applied because if the radical Islamic threat of Hezbollah and Hamas were greatly abated, Israel would lose whatever incentive it has for world government.

The power elite through its agent Javiar Solana might have “persuaded” by economic means (loans and investments would not be forthcoming) Israeli Prime Minister Ehud Olmert not to launch a crippling blow against Hezbollah in their latest major confrontation in Lebanon, thus maintaining the “unabated threat” against Israel. Now, Olmert, the Palestinian leaders, Secretary of State Condoleezza Rice and others are reportedly engaged in secret negotiations even to divide Jerusalem. This is all to weary Jews and Palestinians to compromise their principles and sign a peace agreement.

As Vice-President Dick Cheney recently stated, a Middle East Peace Agreement will require “painful compromises on both sides.” However, it is part of the power elite’s plan to “transform” the Middle East through solving the conflict (“crisis”) between Israelis and radical Muslims.

This will lead to the formation of a Middle Eastern Economic Region, which can then be linked with others (e.g., the European Union, African Union, ASEAN, forthcoming North American Union, etc.) to form a global economic union with a global currency, all managed by a World Socialist Government. This is explained in THE SINGLE GLOBAL CURRENCY (2006) by Morrison Bonpasse (president of the Single Global Currency Association) when he writes: “The world is ready to begin preparing for a Single Global Currenty, just as Europe prepared for the Euro and as the Arabian Gulf countries are preparing for their common currency. After the goal of a Single Global Currency is established by countries representing a significant proportion of the world’s GDP, then the project can be pursued like its regional predecessors.” And that this will have to be managed by a world government was explained by Robert Mundell (known as “Father of the Euro”) in his 2003 lecture, “The International Monetary System and the Case for a World Currency,” in which he revealed that “A global single currency could not be achieved without a global government to enforce it.”

[url=]Source,[/url] a link off of an [url=]Emerging Church article.[/url] Oy!

 2009/5/3 16:30

Joined: 2006/2/11
Posts: 2895
Philadelphia PA


Excuse me, but what is the purpose of this article that you just posted?

There is a mass of names and claims here and who is supposed to read though it and digest it?

Christopher Joel Dandrow

 2009/5/3 16:42Profile

Joined: 2007/2/16
Posts: 231
Longview WA


Times of testing, sifting for the saints of God.
pray we will be able to endure until the end, and in the mean time lets encourage one another.
In prayer I have not been given any direction concerning all this, except trust him to take us through.
I believe what is about to happen is God's doing,
Were probably going to feel like ezekeil felt or Jeremiah.


 2009/5/3 21:32Profile


Amen Poet.

 2009/5/3 22:22


[b]IMF Says New Reserve Currency to Replace Dollar Is Possible [/b]

By Alexander Nicholson

June 6 (Bloomberg) -- The International Monetary Fund said it’s possible to take the “revolutionary” step of creating a new global reserve currency to replace the dollar over time.

The IMF’s so-called special drawing rights could be used as the basis for a new currency, First Deputy Managing Director John Lipsky told a panel discussing reserve currencies at the St. Petersburg International Economic Forum today.

 2009/6/8 2:49

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