China calls for global currency
p2pnet news view | Off Topic:- China reckons it has the answer to the world economic crisis.
Create a single world currency.
When there were concerns about Fannie’s and Freddie’s finances, “especially on the part of foreign investors such as China,” the US, “bailed them out and wound up placing them into conservatorship,” says Barron’s, continuing:
“More recently, Chinese officials have voiced concern about their massive holdings of U.S. Treasuries and dollar assets in general.
“A couple of weeks ago, Premier Wen Jiabao expressed concern about the safety of U.S. Treasury securities. Last month, a Chinese official put it bluntly: “We hate you guys. Once you start issuing $1 trillion-$2 trillion, we know the dollar is going to depreciate.” But given the lack of viable alternatives, they’re stuck buying Treasuries, he said.
“Now comes a suggestion from the head of China’s central bank for an alternative to the dollar, echoing a similar proposal made previously by Russia. Those nations proposed expanding the use of the International Monetary Fund’s Special Drawing Rights as a substitute for dollars. SDRs, based on a basket of currencies, have never gained much usage except for IMF transactions.”
But US president Barack Obama isn’t at all keen on the idea.
Rejecting calls for a new global currency, he says the US dollar is “extraordinarily strong” because investors are confident the US can lead a worldwide recovery, says Bloomberg News, quoting him as stating:
“There is a great deal of confidence that ultimately, although we are going through a rough patch, that the prospects for the world economy are very, very strong.”
However, Chinese central bank Governor Zhou Xiaochuan (right) wants the International Monetary Fund to create a ’super- sovereign reserve currency’.
This, “may signal China’s ambitions for a leadership role at next week’s Group of 20 summit, economists said,” the story states, continuing:
“They followed Premier Wen Jiabao’s call on March 13 for the U.S. ‘to guarantee the safety of China’s assets’.”
Adds Barron’:
“Next week, the Group of 20 nations will discuss the unprecedented stresses facing the world’s economy. President Obama may not be able to dismiss calls for a new monetary order as easily as he did at Tuesday’s press conference, even if the dollar is unlikely to be supplanted for some years to come.”
Barron’s – Is the Floating Dollar Sunk?, March 25, 2009
Bloomberg News – Obama Says Dollar Strong, Cites Confidence in U.S., March 24, 2009
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March 25th, 2009 at 12:21 pm
The idea of a single global currency is certainly not new, and did not come from “China” or “Russia”.
It has been an important part of the dream shared by the world’s elite, such as the Rockefellers, the Rothchilds, Kissinger, et al. It’s the central goal of the NWO scam – join all the countries under one appointed (not elected by the people) “administrative” government and replace all the money with one currency printed by the World Bank – achieving world domination.
The plan has been underway for a number of years, in the guise of “trade talks” and “think tanks” (eg. NAFTA, Bilderburg), which have been going on behind the backs of citizens of all countries involved. You now have the European Union, complete with one currency (the Euro), which seemed to just “spring up” without much knowledge or involvement of the European people.
In North America, the horse has been out of the barn for awhile, with our beloved Chretien, Martin, and now Harper, meeting secretly with Clinton and Bush, along with the Mexican leaders, signing documents in the name of the “Security and Prosperity Partnership” (SPP), with the goal of forming a North American Union. The proposed currency, the “Amero” has already been designed and some have actually been pressed.
http://www.canadafreepress.com/2006/cover121406.htm
(might not be the best link, but there are thousands more)
The plan also includes an Asian Union and an African Union.
The final step would be the eventual marriage of all 4 unions.
China is fast becoming an economic superpower that can eventually be a “threat” to the economics of the Western World.
This is not an accident, it is by design. As the lid was somewhat blown off the SPP talks, the NWO will need an “excuse” to continue with the NAU plan. That excuse will be the necessity to pool the resources of 3 countries in order compete with China and stay alive.