A United Nations panel is about to recommend that the world abandon the dollar as the world’s reserve currency, according to a Reuters report. Next week, the UN will propose that the dollar be replaced with a “shared basket of currencies” similar to the old Ecu (European Currency Unit) of the former European Community (the predecessor to the European Union), which was replaced at parity by the euro in 1999. According to Avinash Persaud, a member of the UN panel, now “is a good moment to move to a shared reserve currency."

Cautioning that such a move might stave off future Chinese efforts to make the yuan the global reserve currency, Persaud opined that the proposed currency basket would take pressure off the dollar and contribute to greater international currency stability.

Given the Ecu/euro historical precedent, it is not too hard to see where all of this is heading: a true international fiat currency, issued independently by the UN, in the not-too-distant future. Indeed, Russia is preparing to propose at the April meeting of the G-20 the creation of a bona fide global currency, to be issued by unspecified “international financial institutions” — presumably the IMF or the Bank of International Settlements.

The formula that led to the successful creation of the European Union — and the consequent dissolution of the independence of EU member states — was that economic union creates momentum for political union. If the unhappy European experience is any guide, the subordination of the dollar and other currencies to a single global currency will have world government as a close sequel.

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Richard Robinson said:

	Abandonment So Obama can't sink the US fast enough. Needs the rest of the world's help on this. This looks like it was planned. Just like the credit card crises preceding the mortgage crisis. When will Americans learn that the government is NOT their friend? That's why our Founding Fathers created a limited governmental structure.
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March 20, 2009
Votes: +6

Flu-Bird said:

	Evict the UN Time for america to stop playing the part of atlas and just evict the whole rotten UN and lets have that ugly UN eyesore of a building torn down and replaced with a monument and memorial to the victims of UN tyrany
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March 20, 2009
Votes: +4

LD said:

Screw The Global Community! The UN, the EU, and their lackeys has been planning this for awhile, and now that there is a awful financial crisis and people are getting desperate, the Global Community fetishists will NOW take advantage of this. Sicking, but I am not surprise. Ladies and Gentlemen, our Founding Fathers KNEW this day will come. Time for Americans to join together and prepare for a possible new era of tyranny.

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March 20, 2009
Votes: +5

notime4u said:

	... This has nothing to do with our current president. This started during the Bush reign. He and his good buddy Cheney got rich off the backs of those who voted for him. And when did all of our banking problems begin? Again- during the Bush reign.
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March 21, 2009
Votes: -5

dddavid said:

	Time to unify. It's time to put aside political arguments. This is real, and if we don't demand this spending binge to stop it won't matter who's in Washington because the power will be in Beijing.
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March 23, 2009
Votes: +2

JOHN WALSH said:

KLUTZ FROM KENYA IN THE WHITE HOUSE IT DOES SEEM LIKE OBAMA HAS HAD SEVERAL SOCIALISTIC AGENDAS SINCE GOING INTO POLITICS.....WE ARE A REPUBLIC AND DO NOT RENDER SHARING EACH OTHERS WEALTH...DICTATING TO HOSPITALS THAT THEY MUST PERFORM ABORTIONS...GIVING STIMULUS FUNDS TO BANKS THAT HAVE MADE FORTUNES MISTREATING AMERICANS AND SENDING THEIR STIMULUS MONEY TO BANKS OVERSEAS...THIS GUY IS SINKING THE ECONOMY IN ONLY 2 MONTHS WITH HAVING MADE 17 EXECUTIVE LAWS IN THAT SHORT TIME...IT LOOKS LIKE WE ARE ALL GOING TO HELL IN A HANDBASKET!!!!

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March 23, 2009 | url
Votes: +2

Scott Harmon said:

We Already Have a Single Currency For the most part, we already have a singular currency--the dollar. Yes, there are many daily foreign exchanges made, but they're based on the dollar. The exceptions to be pointed out are trivial. I see only disunifying forces, not unifying ones, that are coming. The dollar is losing its exceptionalism--that is the key. The real issue to be concerned about is that Americans are forced to accept the dollar so stringently. Give me a basket of currencies any day. The disunifying (decentralizing or disaggregating) forces of new media, decentralized currency, and global racism/nationalism are much stronger than any political group in Brussels or China. And the concern here is what will be done by the US govt. to counteract these disunifying forces that could put the Elites out of a job. The Elites will fight like peasants in a soup line to preserve their lofty Empire. The commoners may be living in teepees, but the Elites will have their Empire!

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March 24, 2009
Votes: -1

Pathenry said:

Begin using alternative currency While the guvmint may require acceptance of Fed notes if the payee demands it, and demands Fed notes for taxes, there is nothing preventing free association and voluntary contracts in other currency if two of you agree on it - such a silver and gold (or other barter). Just say Alternative, and build virtual business communities awhile. The dollar will crash regardless (now), so you might as well get up and running ahead of time, and save yourself the losses of hyperinflation wherever you can. It is not hard to calculate current FRN prices into silver and gold coin equivalents, even at changing current rates. Just see the FREE CALCULATOR, simple to use, right here: http://www.silverandgoldaremoney.com/

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March 24, 2009
Votes: +1

Thomas Paine said:

Don't give up the dollar! Expose the truth No way will we give up the dollar to the Amero or some other NWO currency. We will fight the fascist, Atheist, Freemason monsters wanting this one world government. The Neo-con's Achilles Heel is 911 (Architects and Engineers for truth, and Aaron Russo interview). They know that if the lid is blown off of this, the public will rise up and defend our constitution, Christianity, and throw the bums out! Time is running out on truth.

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March 24, 2009
Votes: +1

Morrison Bonpasse said:

The world needs to plan now for a Single Global Currency, to be managed by a Global Central Bank, within a Global Monetary Union The world should be grateful to China and the U.N. Financial Task Force for leading the way to a Single Global Currency, which necessariy will be managed by a Global Central Bank within a Global Monetary Union. As China requests, this next global currency will not be the responsibility of just one country. What is needed now is international recognition of those goals, and research and planning to achieve them. The success of the euro shows that monetary union is the best way to ensure monetary stability. The primary problem with the euro and currencies of other monetary unions is that they still must co-exist within the international multi-currency system itself where the value of those common currencies must still fluctuate in value against each other. If 16 countries can use the same currency, why not 192? In addition to eliminating currency risk, the use of a Single Global Currency would eliminate the current foreign exchange trading expense of $400 billion annually, eliminate current account imbalances, eliminate the need for foreign exchange reserves (now totalling more than $3 trillion); and bring other benefits worth trillions. The Single Global Currency Assn. (www.singleglobalcurrency.org) promotes the implementation of a Single Global Currency by 2024, the 80th anniversary of the 1944 conference. That’s only 15 years away. The world is moving toward a Single Global Currency through the creation, expansion and merger of regional monetary unions. Another route is through international monetary conferences proposals and agreements, such as were seen at Bretton Woods. The challenge now is to reach that goal planfully, as soon as possible with as little cost and as few crises as possible. See the book, "The Single Global Currency - Common Cents for the World." Morrison Bonpasse Single Global Currency Assn. Newcastle, Maine, United States

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March 25, 2009 | url
Votes: -1