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Global Restructuring? Or Depression?
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by Rain Coast Ghost | April 24, 2009 at 05:32 pm
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The world's leaders must accomplish nothing short of a new financial world order, including a new truly international currency to replace the now almost defunct US dollar, if we as a species expect to move forward and thrive. If countries act bilaterally instead of multilaterally, the system will fail and we'll end up in a global depression. The worlds 'old' financial system is now dead, hopelessly credit locked and mired in debt and toxic derivatives. For all intents and purposes the US dollar as a medium of international trade is coming to an end, due to it's debasement and devaluation by the Americans themselves. The only reason that it has any use internationally, now rests entirely on the fact there is no other instrument available at the moment to replace it.
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Most RecentMost Recommended Comments (2)
at 20:23 on April 24th, 2009
You make some good points Rain Coast Ghost. We certainly need to get away from one country controlling the world economy. We don.t need to replace one with the other. If we are to move ahead in a truly global economy a neutral instrument is a must.
at 03:47 on April 25th, 2009
Its unfortunate that the UN has sidelined itself from all efforts to create a new financial order when it could have taken the initiative to introduce a UN Dollar as the globally accepted international currency. A UN Dollar if approved and accepted by member countries would usher a new era in global economy where trust and transparency will be its foremost virtue. These are challeging times indeed and the UN still has time to consider this option.
at 02:39 on April 26th, 2009
Actually, the world financial system is not controlled by any "country" but is controlled by the elitist oligarchy that resides within the power of the world's international banking cartel. This (not so new) World Order controls economies, governments and world events through the manipulation of national and the world money supply.
Currencies have different rates of exchange. A one world currency would only create deeper economic and social problems because not all national economies are equal in regards to their share of trade.