Has the FED begun circulating trans-national banknotes?

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North American Union Currency | Photo 29

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Check out the new amero banknotes.  Have these actually been circulated and intended to replace the dollar?  It will be interesting to see what happens next in US and the world economies.  When questioned by Major Garrett regarding a world-currency during the news conference last night, Mr Garrett asked President Obama........

"Taking this economic debate a bit globally, senior Chinese officials have publicly expressed an interest in international currency. This is described by Chinese specialists as a sign that they are less confident than they used to be in the value and the reliability of the U.S. dollar. European countries have resisted your calls to spend more on economic stimulus.

I wonder, sir, as a candidate who ran concerned about the image of the United States globally, how comfortable you are with the Chinese government, run by Communists, less confident than they used to be in the U.S. dollar and European governments, some of them center-left, some of them Socialist, who say you're asking them to spend too much?

OBAMA: Well, first of all, I haven't asked them to do anything. What I've suggested is, is that all of us are going to have to take steps in order to lift the economy.

We don't want a situation in which some countries are making extraordinary efforts and other countries aren't with the hope that somehow the countries that are making those important steps lift everybody up. And so somebody's got to take leadership.

It's not just me, by the way. I was with Kevin Rudd, the prime minister of Australia, today, who was very forceful in suggesting that countries around the world, those with the capacity to do so, take the steps that are needed to fill this enormous hole in global demand.

Gordon Brown, when he came to visit me, said the exact same thing.

So the goal at the G-20 summit, I think, is to do a couple of things, number one, say to all countries: Let's do what's necessary in order to create jobs and to get the economy moving again. Let's avoid steps that could result in protectionism, that would further contract global trade. Let's focus on, how are we going to move our regulatory process forward, in order, so that we do not see the kinds of systemic breakdowns that we've already seen?

And that requires, that means not just dealing with banks, but also some of the other financial flows that are out here that are currently unregulated. We've got to update regulations that date back to the 1930s, and we're going to have to do some coordination with other countries in order to accomplish that.

As far as confidence in the U.S. economy or the dollar, I would just point out that the dollar is extraordinarily strong right now. And the reason the dollar is strong right now is because investors consider the United States the strongest economy in the world with the most stable political system in the world.

So you don't have to take my word for it. I think that 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.

And, and last point I would make, in terms of changing America's image in the world, Garrett, I, you know, I haven't looked at the latest polling around the world, but I think, I think it's fair to say that the response that people have had to our administration and the steps that we've taken are ones that are restoring a sense of confidence and the ability of the United States to assert global leadership.

Q: (OFF-MIKE)

OBAMA: That will just strengthen — excuse me?

Q: (OFF-MIKE) global currency?

OBAMA: I don't believe that there's a need for a global currency. 

President Obama then abruptly ended his answer and quickly turned his direction towards answering questions posed by Mike Allen of Politico.

I would like to have heard more from the President regarding this issue, especially with more and more talk about a unified national currency similar to those shown here including the "Amero", there are also some that suggest that we just might by-pass a national currency and head straight into a world-currency.  At the rate things have been going recently... I suspect we will find out soon enough.

You can find more information on a North American currency and the North American Union at http://www.the-north-american-union.blogspot.com