China calls for new reserve currency

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3,707
Location
Windsor, Ontario, Canada
"China’s central bank on Monday proposed replacing the US dollar as the international reserve currency with a new global system controlled by the International Monetary Fund." Isn't this sorta like replacing Montgomery Burns with Lex Luthor? Is the IMF really any more a stabilizing, rather than counter-productive, influence? Naively, I would have guessed that international reserves would have been based on something other than a national currency.
 
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18,449
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East of IGO
One world currency? I have heard that idea before . Heck we don't need any cash just a cancer causing implanted chip to buy and sell.
 
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3,707
Location
Windsor, Ontario, Canada
 Originally Posted By: aaxb970
Anyone know if a world currency would work better?
"Better"? That all depends on how we define it: One currency, one language, one set of laws would work "better", according to some.
 
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6,990
Location
Everett, Washington
 Originally Posted By: Steve S
One world currency? I have heard that idea before . Heck we don't need any cash just a cancer causing implanted chip to buy and sell.
Yes just let the devil take my soul already........
 
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43,652
Location
'Stralia
Hey, wars have been fought over "reserve" currencies. Why should anyone tie themselves (or be forced to) one currency.
 
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7,077
Location
Ontario, Canada
It's done so that the manipulators of that currency can devalue it and steal your wealth while making you believe the stock market and your wages are going up. Think of it as a carrot hanging from a string, tied to a stick which is strapped to a horse, and the carrot is dangling in front of the horse. The guy in the cart behind the horse gets a free ride.
 
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10,611
Location
Las Vegas NV
 Quote:
"[The] Bank of the United States... is one of the most deadly hostility existing, against the principles and form of our Constitution... An institution like this, penetrating by its branches every part of the Union, acting by command and in phalanx, may, in a critical moment, upset the government. I deem no government safe which is under the vassalage of any self-constituted authorities, or any other authority than that of the nation, or its regular functionaries. What an obstruction could not this bank of the United States, with all its branch banks, be in time of war! It might dictate to us the peace we should accept, or withdraw its aids. Ought we then to give further growth to an institution so powerful, so hostile?"
--Thomas Jefferson to Albert Gallatin, 1803. ME 10:437 http://etext.lib.virginia.edu/jefferson/quotations/jeff1325.htm
 
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39,805
Location
Pottstown, PA
Phase II of establishing the regional financiers as our ruling class. "The Emperor has dissolved the council. The regional governors will keep the local systems in line". How's that for centralized governess, Tempest? All under the freedom of the market in unvarnished commerce. Free market will be our prison and enslave us for the rest of time to the global central bank.
 
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39,805
Location
Pottstown, PA
What? A world without economic borders? No treaties? No tariffs? No embargoes? Just one seamless commercial zone ruled by the unthrottled ambition of self interest and Capitalism unleashed. What more could you ask for besides a promotion in the local cult militia to command grade ...and a few more boxes of ammo?
 
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