Ron Paul Confronts Bernanke On Global Currency Plans

Congressman demands to know if discussions regarding new reserve system to replace dollar have taken place

Paul Joseph Watson
Prison Planet.com
Tuesday, November 18, 2008

Congressman Ron Paul confronted Federal Reserve chairman Ben Bernanke this morning about plans to replace the dollar with a new global currency during the House Financial Services Committee meeting on Capitol Hill.

“Already we see talk….about a new international world reserve currency and to me that’s pretty important because the fiat dollar reserve system is not gonna work anymore,” said the Congressman, adding that currencies have failed throughout history.

Paul asked Bernanke, “In your meetings with other central bankers, does this thought come up about a new international world reserve currency and if so, does the subject of gold ever come up….is there a move on to replace the dollar system?”

“I don’t think the dollar system is dead, I think the dollar remains the premiere international currency….I think the dollar system remains quite strong,” responded Bernanke.

Bernanke failed to address the issue of a new system of currency so Paul repeated the question of whether the subject ever came up, to which the Federal Reserve chairman responded, “no it doesn’t”.

Asked if the subject of whether such a currency, or indeed the dollar itself, would ever be backed by gold and if gold ever came up in conversation, Bernanke responded, “only in terms of the sales that banks are planning”.

Despite Bernanke’s dismissal of talk about a new world currency system, such speculation has been rife and indeed French President Nicolas Sarkozy has repeatedly called for the dollar to be demoted as the premiere currency.

French Economy Minister Christine Lagarde has also called for the dollar to be replaced by the Euro as the world reserve currency, so to believe that such proposals have not emerged in meetings between central banks is stupidly naive.

In September, the Chinese state media, the official voice of the ruling Communist Party, called for the creation of a new currency system following the collapse of Lehman Brothers.

The recent G20 meeting was itself billed as “Bretton Woods II” in reference to the first Bretton woods conference at which the dollar was established as the world reserve currency in the summer of1944.

Nobel prize-winning economist and former World Bank chief Joseph Stiglitz has also called for a new global currency, as have scores of other top economic analysts.

Bernanke’s claim that such talk has not cropped up during central bank meetings is dubious to say the least.

http://www.youtube.com/watch?v=dECy9RCS2L8

well he should confront obama and the dems to abolish the federal reserve

and the people should as well

Obama wouldn't dare abolish the globalists who did alot to fund and promote his campaign.

well hey if he did/does that would put him up there just below the first five presidents in my opinion

maybe even put him on the same plane if he gets the patriot act and the anti-terrorist act abolished as well

but the one adult cartoon on tv summed it up pretty well

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they had obama win

and mccain in on it with him

a plot too steal the """hope""" ""diamond""

was very applicable imo

stilling the hope of the american people

and their future prosperity as well

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but i have been accused of bn over analytical a time or two




<<<<<< they are watching

I have been stolen blind from so much I cant see

I really do wish Obama would have proven me wrong, but just looking at who he is hiring has told me everything I need to know.