The world is a step closer to a global currency, backed by a global central bank, running monetary policy for all humanity.The G20 moves the world a step closer to a global currency
A single clause in Point 19 of the communiqué issued by the G20 leaders amounts to revolution in the global financial order.
"We have agreed to support a general SDR allocation which will inject $250bn (£170bn) into the world economy and increase global liquidity," it said. SDRs are Special Drawing Rights, a synthetic paper currency issued by the International Monetary Fund that has lain dormant for half a century.
In effect, the G20 leaders have activated the IMF's power to create money and begin global "quantitative easing". In doing so, they are putting a de facto world currency into play. It is outside the control of any sovereign body. Conspiracy theorists will love it.
Tuesday, April 07, 2009
The world is a step closer to a global currency, backed by a global central bank, running monetary policy for all humanity
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment