posted 01-05-2004 10:24 PM            

The new global currency would be used for large foreign exchanges

Robert Mundell, a nobel-prize winning economist, often credited with paving the way to the European single currency, has called for a global currency.

In an interview with French paper Libération, Mr Mundell said, "with the emergence of the euro and its instability against the dollar, Europe, the US and the Asian powers should come together and create a new international monetary system".

However, this would not mean the end of the euro and the dollar. Mr Mundell continues, "Of course, one would keep the dollar and the euro. This international currency would be used in the large international exchanges, for movements of capital and commercial transactions".

Mr Mundell's views - although controversial - should not be discounted. He laid the intellectual groundwork for the euro and was a leading member of the 1972 study group on economic and monetary union , which paved the way for the single currency.

This is not the first time the idea has been proposed, however. In the 1944 conference at Bretton Woods, which resulted in the establishment of international institutions such as the International Monetary Fund (IMF), several countries proposed a global currency.

Mr Mundell said, "I think we should again consider this scenario".

posted 01-05-2004 10:40 PM            

The Dollar is at ITS RECORD LOWEST...gold is going through the roof..and the US is $43 TRILLION DOLLARS in debt.

The globalists love to brag.

Problem-Reaction-Solution..

Hegalian Dialectic.

Create a problem.....

Watch the reaction....

posted 01-08-2004 04:56 PM            

quote:

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Originally posted by Mech:
The Dollar is at ITS RECORD LOWEST...gold is going through the roof..and the US is $43 TRILLION DOLLARS in debt.

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Point of fact: The U.S. is not $43 trillion dollars in debt. As of yesterday (January 7th, 2004), the debt was $6,990,408,199,507.34--about $7 trillion.

Those that state that we are $43 trillion in debt are counting future obligations... which is fine, but then you also must count future income which is essentially U.S. tax revenue over the time period of those same obligations.

Saying the U.S. is $43 trillion in debt is like saying I have a personal debt of $6000 on a car, but I really have a debt of $300,000 because I currently pay rent of $500/month and if we assume I'll be doing that for the next 50 years, I essentially "owe" $300k. But that's not a fair depiction of reality.