Call for global currency wins int’l backing

The inanity never stops nor, indeed, does it cease to amaze.

Excerpts:

” In an 18-page report released on Thursday, the UN panel said the new system “could contribute to global stability, economic strength and global equity”. It also said such an SDR system would be “feasible, non-inflationary and could be easily implemented”.

I don’t even know where to start on that. The UN says???? The UN????? If we’re putting stock in what the UN says, we must, by definition, have reached the end of the road. We might as well pack it in and bugger off in the wilderness because if we are entrusting our future and our well being to what the UN says, than we’re in for it. Please consider the UN’s track record in Cyprus, the Balkans, Africa… need I really say any more?

Anyway. If the introduction of a new currency is not inflationary, than why introduce a new currency at all? If you wish to maintain the status quo, what is the rason to introduce a new currency? The only difference between an SDR and all other currencies is that the SDR has a percentage of gold backing. Disregarding the fact that the gold may or many not be there (we don’t know essentailly) the value of an SDR is based on a basket of currencies…. which is exactly what sovereign curreincies are based on today (fiat currencies post Bretton Woods). So, unless you got some inflation out of the whole boondoggle, then why introduce a global currency at all?

This is a CROCK OF SHIT!!

http://www.chinadaily.com.cn/bizchina/2009-03/28/content_7626272.htm

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3 Responses to “Call for global currency wins int’l backing”

  1. Uncollected99 Says:

    Hi guidoamm đŸ™‚ Let me try explain a bit…

    The call for a global currency comes from the current situation. Today there are trillions of reserves which are held by countries around the globe in US DOLLARS, right?

    Most of the people holding these reserves today, think what you said: “this is a CROCK OF SHIT!” Why? Well that is the big picture and if you are going to discuss the global currency you must discuss and expose the big picture.

  2. guidoamm Says:

    Hello Uncollected99… thanks for stopping in… not sure I follow… what lacks parts and which is the bigger problem you refer to?

  3. Uncollected99 Says:

    This is surely partly right, but unfortunately lacks a lot of parts to the bigger problem.

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