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ccchhhrrriiisss
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Joined: 2003/11/23
Posts: 4529


 UN: New Global Currency Needed to Replace Dollar

[i]Yet another new story about this move toward an international currency.[/i] - Chris

[b]UN wants new global currency to replace dollar[/b]
By Edmund Conway, Economics Editor
Telegraph (UK)
6:45PM BST 07 Sep 2009

The dollar should be replaced with a global currency, the United Nations has said, proposing the biggest overhaul of the world's monetary system since the Second World War.

In a radical report, the UN Conference on Trade and Development (UNCTAD) has said the system of currencies and capital rules which binds the world economy is not working properly, and was largely responsible for the financial and economic crises.

It added that the present system, under which the dollar acts as the world's reserve currency , should be subject to a wholesale reconsideration.

Although a number of countries, including China and Russia, have suggested replacing the dollar as the world's reserve currency, the UNCTAD report is the first time a major multinational institution has posited such a suggestion.

In essence, the report calls for a new Bretton Woods-style system of managed international exchange rates, meaning central banks would be forced to intervene and either support or push down their currencies depending on how the rest of the world economy is behaving.

The proposals would also imply that surplus nations such as China and Germany should stimulate their economies further in order to cut their own imbalances, rather than, as in the present system, deficit nations such as the UK and US having to take the main burden of readjustment.

"Replacing the dollar with an artificial currency would solve some of the problems related to the potential of countries running large deficits and would help stability," said Detlef Kotte, one of the report's authors. "But you will also need a system of managed exchange rates. Countries should keep real exchange rates [adjusted for inflation] stable. Central banks would have to intervene and if not they would have to be told to do so by a multilateral institution such as the International Monetary Fund."

The proposals, included in UNCTAD's annual Trade and Development Report , amount to the most radical suggestions for redesigning the global monetary system.

Although many economists have pointed out that the economic crisis owed more to the malfunctioning of the post-Bretton Woods system, until now no major institution, including the G20 , has come up with an alternative.

Click [url=http://www.telegraph.co.uk/finance/currency/6152204/UN-wants-new-global-currency-to-replace-dollar.html]HERE[/url] to read the full article.


_________________
Christopher

 2009/9/8 12:04Profile









 Re: UN: New Global Currency Needed to Replace Dollar

what have I been saying over and over again, buy silver coins, US, pre-65 dimes, quarters, half dollars in rolls, and sock them away, as well as American Silver Eagles. Buy productive farmland and woodlot acrerage.

Buy the means to produce food.

 2009/9/9 20:49
twayneb
Member



Joined: 2009/4/5
Posts: 2006
Joplin, Missouri

 Re: UN: New Global Currency Needed to Replace Dollar

What was it that a fine Hebrew gentleman once said? "Surely we live in interesting times."

Not sure that I am going to invest in lots of gold or silver. I have never seen the righteous forsaken nor His seed begging bread. God will be my provision and supply my needs.

I do believe that the book of Revelation is more and more reading like YESTERDAY'S newspaper. Time is short. Jesus is coming. Keep your hand to the plow and in the mean time look up, for your redemption draweth nigh.

Praise God!!! :-D


_________________
Travis

 2009/9/12 19:15Profile









 Re: Silver coins

Natan4Jesus

what type of silver coins do you recommend?

Thanks
Rev Enue

 2009/9/12 21:08
sermonindex
Moderator



Joined: 2002/12/11
Posts: 37629
"Pilgrim and Sojourner." - 1 Peter 2:11

Online!
 Re:

Quote:
what type of silver coins do you recommend?


The silver coins that are eternal in the heavens. Ie give to missions, give to the poor, give to biblical training centers for pastors and missionaries.

give, give, give..

"store up for yourself treasures in heaven."


_________________
SI Moderator - Greg Gordon

 2009/9/13 6:01Profile
Leo_Grace
Member



Joined: 2009/6/14
Posts: 703


 Re:

Dear Brothers,

Pay heed to what Greg has posted.

Mt 6:19-21 [color=CC3300]“Do not store up for yourselves treasures on earth, where moth and rust destroy, and where thieves break in and steal. But store up for yourselves treasures in heaven, where moth and rust do not destroy, and where thieves do not break in and steal. For where your treasure is, there your heart will be also."[/color]

 2009/9/13 10:20Profile









 Re:

You have to have something to give in order to
give. And you have to be able to multiply your talents in order to give to good causes. Nothing wrong with trying to earn more $$$ in order to further God's work and to meet ones own needs.
And if investing in silver coins will do it then do it. Properly motivated earning and giving go together.

 2009/9/13 19:56
Leo_Grace
Member



Joined: 2009/6/14
Posts: 703


 Re:

Quote:

Rev__Enue wrote:
You have to have something to give in order to
give. And you have to be able to multiply your talents in order to give to good causes. Nothing wrong with trying to earn more $$$ in order to further God's work and to meet ones own needs.
And if investing in silver coins will do it then do it. Properly motivated earning and giving go together.


As long as you know where your heart is, brother. :-)

 2009/9/13 20:55Profile
rainydaygirl
Member



Joined: 2008/10/27
Posts: 742


 Re:

Hey
I am not sure I understand this. What would happen if they do create a new currency? How would it effect the US dollar, would that change our money to? I know this is probably a really dumb question on my part but I do not understand why this?

thanks
rdg

 2009/9/14 14:26Profile









 Greg----a question for you.

you responded to Rev Enue's question to me:

Quote:
what type of silver coins do you recommend?



your response:

Quote:
The silver coins that are eternal in the heavens. Ie give to missions, give to the poor, give to biblical training centers for pastors and missionaries.



So should I refrain from giving the dear man practical advice? I have no problem with that, this is yiour ministry, its just nice to know parameters for discussion.

In my walk with Jesus, my heart has always canted towards benevolence ministries, many done on my own hook, so to speak, which I will not detail, that would be a violation of the "left hand not knowing what the right" does admonition of Messiah, but suffice to say I have been spared the yoke of worshipping money.

I do believe one should be wise about the times, a statement of truth I could add so much more onto, but I feel neither inclination or calling.

I still feel the Love of God the Father, Jesus the Messiah, and the Comforter, the Holy Ghost, Praise the Name!

 2009/9/14 20:18





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