"The G-20's Secret Debt Solution": A New Monetary System?

Paschen, a Single Global Currency is probably the best way to resolve the World's financial crisis. Thank you for reading, commenting, and the recommendation.

You are very welcome, Paschen. I discovered it while researching on this issue.

Global currency = loss of sovereignty as we know it. The founding fathers were vastly APPOSED to even a central bank within the US alone, much less a global one. Due to the fact it wittingly, and predictably facilitates UNCONTROLLABLE, politically unbound, and corrupt hegemonies. History repeats it self over and over until people wake up and say "no lets not go down that road again"

interesting, thanks for posting. With a money system backed by debt and the promises of the corrupt US Republocrat govt, and the global derivatives market at $50-60 trillion (about 3-4 times the total money supply), i'm sure the self-serving, short-sighted banking parasites who thought up these unsustainable, cancerous and humanity-enslaving financial instruments are cooking up a way to bail themselves out so they're on top of the huge stinking mess they'll be dumping on the taxpayers, consumers and workers of the world.

However, i didn't see that Edelson claimed a single source, and he admitted it's just his own speculation about what the G-20 is up to. Also, it reads like a gold-investment promotion (I'm not saying investing in gold is bad, considering the dollar, housing and financial markets are total frauds and there's been no substantive disclosure from the Treasury, Fed or Wall Street about what's going on, gold may well go much higher)

I would definitely like to institute a monetary system that serves the people and the public interest, but anything the G-20 come up with is not going to be that, although it should be given its place in the public debate- like everyone else's ideas. Let the best ideas be implemented.

Another proposal for a monetary system i recently came across and am still researching, but sounds promising; ban the charging of interest (usury) and charge a tax on money being hoarded (not a tax on capital, wealth or property). This was tried in Worgi, Austria in 1933 during the Great Depression when they had 1/3 unemployment (and 6 neighboring towns after Worgi had success) and it resulted in money being circulated 14 times faster (velocity of money), full employment, economic growth, long term investments in infrastructure and community and an increase in the value of money (so it was worth more when loans were repaid; but since people were taxed for holding money, they would immediately reinvest it, spend, loan it out, etc.). The mayor had addressed 170 towns and cities who were interested in trying it, but the central bank found out their monopoly economic power was being threatened and shut it down.

A far more efficient economic system is possible

It's a bit over my head, but good post - it will be interesting to see what happens this weekend. I can't imagine them actually going through with it though. Of course, what do I know?

Money just doesn't seem to have any value anymore. If you don't have money you just "borrow", and keep borrowing to pay the minimum. Meanwhile, go out and keep buying whatever you want. Buying stimulates the economy.

When you can't borrow anymore, declare bankrupcy.

I'm confused.

It seems like One World Currency is a good way for One World Corporations to control people.

Speculations, nothing will happen, Bush still in power, Obama not yet joining the meeting. Tomorrow is the European meeting with Russia, how to continue Europe. Friday Washington. G. Brown with his Agent Sarko tried to rob the ECB, the european central bank, no success. G. Brown tried to convince the Chinese and Arabs to pay into IMF, no success. Result the bancruptcy countries like US/UK will work out over years their speculative deficit. Self caused poverty by Stock market sub-prime scam has no friends. They betrayed us all. The money flow of the big companies has to be separated from conventional money, like Europeans will control the streams. Real money goes from now on into production, not in papers.

That's a very interesting idea. I don't think that it will get the support it needs to be put in motion, but at least people are thinking outside the box.

A global currency run by a bunch of politicians would be a disaster for the developed world.  The global economy needs variable currencies to act as an automatic ajustment when international trade gets out of balance.  For instance the US economy NEEDS a lower value dollar to be able to compete with countries like China.  By letting the value of the dollar drop it makes US-made products more competitive (cheaper) and foriegn-made products more expensive.  The result is increased demand for US goods and lower demand by US buyers for foriegn goods.  Without the ability to ajust relative pricing of each countries assets, reccessions would turn to long term drepressions that could take generations to correct.

If any "new" monetary system is being contemplated I would suggest looking at bringing back an asset-backed monetary system like that which existed prior to the Nixon Administration.  Rather than gold, however, a mix of assets would provide better stability and defense against inflation/deflation.  It also gets politics out of the money system by eliminating central banks ability to solve political problems by printing money.

The Euro was horrific for small towns in Europe, it caused the immediate take over of small town markets by large corporations. "How?" you as? Simple, what most people don't realise was done in Europe and in West Africa is the denominations DID NOT adjust to the higher value currency; Meaning if something if something was 10 francs then when when Euro was currency in france, that same 10 franc item which should have been 4-5 francs was sold @ 10 Euro, however salaries converted at market value. This was horrible, it didnt happen with lodging or public transit. However it absolutely did happen with GROCERIES and toiletries. I was in Nice and southern France when this happened. It was horribly burdoning on so many people its not even funny.

When the central bank makes the loans to local banks it will do what it has done before... it will be a 1 to 1 transaction. What a joke, putting anymore control of government and public policy into the hands of bankers will always be manage with 1 thing in mind. "What is in my 'interest'".

Everyone fails to see that it is not about the way we create a system for money to flow, it is about energy. You can place the value of the dollar on moon dust, and it won't change the dynamics to economic chain link fence. We need to establish a break or Independence from Energy Resource countries.

The reason binLadin wants nuclear weapons is because Saudi Arabia the richest oil country in the world has not its own national defense to protect itself, from super powers who have no vast amounts of energy supply. This being the USA...who has gone in and sells its military as the authority in the world to who gets what; is  now invading other countries....in the name of Democracy.

Should we base currency on Oil? Not a good idea, because of its bad consequences..pipeline terror, Oil spills, Pirates, Global Warming, OPEC...using oil as a weapon to get the political clout they want in other countries. Bad Idea.

I considered a world currency, but I do not think that is good, because it gives us no independence from each other. One way to look at it is to have all countries keep their own currency, but have the same or similar value....Give all countires a plus or minus to the value of their currency according to the size of their populations. The bigger the population the more value to the currency. The smaller the population the less value.

We have to dissolve the chain link between countries, so if one country suffers economic blues, it does not drag the rest of the world down with it. The healthy countries put hands out toward support and bring the recessionary country out off its troubles.

This can only be accomplished if we give all countries energy Independence. This means drilling in Geothermal Wells around the Globe..and giving all countries their own power supply, instead of buying coal from one place, forcing Europe to buy Russian Oil, creating mega militaries who encroach on Rich Energy Resource Countries...

When we achieve our own independence energy resource, we have real freedom...We have real security.

Geothermal is the answer and the new Brentwoods Accord needs to encompass this fact of this Geothermal ideology.. Whether it is called the GeoBrentwoods Accord, or the New Energy Independence Money Policy....it means we are on the right path toward creating security for each and every nation, but also stopping the Global Warming Threat.

Many things come into play on the issue of finance, but our main driver is Energy first....Money 2nd.

Please see further views on some of the other great benefits to what I have said here. In fact the new Brentwoods G-20 Summit meeting can eliminate the entire TAX SCHEME forever.

http://my.nowpublic.com/world/paulson-cause-world-recession....

Rev. Jermano

God Bless