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China calls for NEW GLOBAL CURRENCY

Discussion in 'Money Talk$' started by LadyEagle, Mar 23, 2009.

  1. LadyEagle

    LadyEagle <b>Moderator</b> <img src =/israel.gif>

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    http://www.ft.com/cms/s/0/7851925a-17a2-11de-8c9d-0000779fd2ac.html
     
  2. billwald

    billwald New Member

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    Jesus would (have) approved

    It was the money changers who were robbing the people 2000 years ago and still are. One currency, no money changers.
     
  3. Martin Luther

    Martin Luther New Member

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    The US government will spend every last ounce of value out of the dollar. The world will be "saved" with a global currency backed by commodities. Most of those in the US who have dollars will be destroyed through hyper-inflation. Most of those living in the US will wake up the realization that they own nothing of REAL value. It will be a fight for tangible assets. The environment with the new global currency will very deflationary with almost zero credit available. We will be one short step away from the New World Order and the mark of the beast.
     
  4. Martin Luther

    Martin Luther New Member

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    If China, Russia, Germany, and others create a new world currency, America will have almost NO ability to purchase imports. Imagine a world with no Walmart…..
     
  5. billwald

    billwald New Member

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    >The world will be "saved" with a global currency backed by commodities.

    Agreed, sort of. It is the commodities market working thru the money changers that determines the relative strength of the various currencies. It works this way:

    The unit cost of shipping commodities is so low that is almost less than rounding errors. The owner of a super tanker of crude will send it wherever he will get the best price. This causes the price to be the same in every port which is why a world wide price is posted. The result is that one can buy the same quantity of crude in any port with dollars or euros. The strength of the currencies is automatically adjusted by the money changers to make this happen i.e. one can buy crude in NYC with dollars or can change the dollars into euros and the euros will buy the same quantity of crude that the dollars would have, not exact but close enough that it doesn't matter in the long run.
     
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