Topic: Soros: Dollar WIll Be Replaced | |
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Soros: Dollar WIll Be Replaced By World Currency
Reuters Tuesday, April 7, 2009 Soros, whose latest book, “The Crash of 2008 and What it Means,” has made prescient calls during the current credit crisis. Exactly one year ago, he told Reuters that global losses are likely to top $1 trillion from the credit crisis. To date, U.S. and European banks have recorded more than $700 billion in losses and write-downs, as of Feb. 5. 2009, according to Reuters data. Soros also said the U.S. dollar is under selling pressure and may eventually be replaced as a world reserve currency, possibly by the IMF’s Special Drawing Rights, a synthetic currency basket comprised of dollars, euros, yen and sterling. “I think the dollar is now under question and I think the system will need to be reformed, so that the United States will be subject to the same discipline as is imposed on other countries,” said Soros, whose famous bet against the British pound earned his Quantum Fund $1 billion in 1992. “Being the main issuer of international currency, we have been exempt and we have abused that because we have effectively consumed 6.5 percent more than we have produced. That is now coming to an end.” China recently proposed greater use of Special Drawing Rights, possibly as an eventual global reserve currency. “In the long run, having an international accounting unit rather than the dollar may, in fact, be to our advantage so we can’t splurge—you know, it felt very good for 25 years but now we are paying a very heavy price,” Soros said. China will be the first country to emerge from recession, probably this year, and will spearhead global growth in 2010, Soros said. He said world policymakers are "actually beginning to catch up" with the crisis and efforts to fix structural problems in the financial system. The system was "fundamentally flawed, and there is no returning to where we came from," he said. Euro Zone Not in Danger In Europe, he said the crisis provides an incentive for countries that use the euro to remain inside the monetary union, though countries on the periphery still face serious problems. The euro has been "a tremendous advantage" to countries that use it, adding there's "no question of a weaker country dropping out," Soros said. While additional resources for the International Monetary Fund will help it stabilize struggling Eastern Europe, he said the Baltic states still face "serious problems" and Ukraine is not far from default. Widespread use of credit default swaps has worsened the risks for Europe, he said, though he added that Germany, the euro zone's biggest economy, is becoming more open to offering help. "Germany, which has been the most reserved about being the deep pocket of the rest of Europe, has recognized that it too has a responsibility toward the new member states." Germany has been one of the most reluctant major economies to meet U.S. calls for more fiscal stimulus spending to boost the global economy and fight the financial crisis. http://www.cnbc.com/id/30069223 |
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Typical games bankers try to play for control. Frankly pointing the finger at the USA and accusing us of gross negligence is the same as standing in front of blind judges who are illiterate. It was not America itself that is to blame, it is the Banking institution and Corporate America that did everything to make the numbers look good for share holders and drove consumerism on credit.
As the saying goes "give a man an inch and he tries to take the mile." Now for us to replace our currency with "world" currency? Sorry but the world is not ready yet and this gradual force to be one world is also forgetting that they still do not have a bill of rights or a constitution to operate by. Without a properly established central authority there will be nothing more than totalitarianism. It will be like living in one big China. Keep this in mind, the clean, orderly, happy China is what the PC clowns and China want us to believe but in reality China is heavily polluted and ungodly corrupt behind the scenes. The standard of living for the AVERAGE citizen is still almost equivalent of Mexico's situation. The greatest insult is that in a one world government America would still be the one place where people try the hardest to get it right where the rest of the world will still be just as screwed up as it always has been. We also would still be doing all of the hard work and supporting the rest of the lazy and corrupt world. If anything we should conquer the rest of the world and force them to adopt our constitution and serve us rather than the other way around. Again we would be inheriting their problems so better to let them self destruct while we make ourselves better than the rest of them. This whole "one world" thing is a front for big business to do the one thing no one in history ever did, take over the world! Could you imagine if Bankers ran everything? ![]() |
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Without a properly established central authority there will be nothing more than totalitarianism. Hmmm.... Better go read what folks like Kissinger and Brzezinski have to say, especially about population reduction... This whole "one world" thing is a front for big business to do the one thing no one in history ever did, take over the world! Could you imagine if Bankers ran everything?
Don't they already? Haven't you seen how much money they paid to put Obama in office? |
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This isn't gonna happen anytime soon, look at how Italy and others are struggling to maintain their ability to manage the criteria for the Euro.
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Dang it, they're coming out at the G20 saying they are going to do it. They're giving the IMF the authority. It's not a "they might" it's a they are.
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Soros will win, like David against Goliath.
Why? Because he is adopting a wise strategy: take the side of the winning truth, and make your position known. He is part of the solution, and to make him wrong, the US would need to reaffirm their position as being the problem. It is a position that is impossible to defend, to be part of the old and creepy problem. Interestingly, the creepiest of the world never understand that. By making his position known, Soros delivers a blow, that works to bring his victory closer. This is the only thing he needs to do, - propagate the knowledge of the bet, in order to win it. If US could, it would surely ban the very discussion of this subject, as any creepy problematic powers did in the past, take church for example. Again, that is because banning the propagation of the information about the ongoing argument, is the only thing the creepy side can to to delay it's loss. |
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Time to get a gun and start aiming at blue helmets then, isn't it?
Remember Obama's recent remarks to the Bankers "that the pitchforks are real?" Honestly if they were hunted down wholesale where would they run? Money does not buy you respect and they lack that utterly. I bank with a credit union. Ultimately if people made a run on the banks and put their money in credit unions instead the Bankers would feel that. You are aware most of them live in Europe thinking they can hide from us. The one thing America lacks right now is organization. If we had our act together bankers would not be running us into the ground. Why do bankers feel safer in Europe? They do not have a largely armed Citizen body. I wonder when banks are going to start getting vandalized en mass? |
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Wonder if the Amero will be the substitute.
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I don't know. I think it will be in every respect the Amero, but likely under different name tag. Experience shows, that there is not even a need to change the principles on which the scam operates. Mere change of name proves to be sufficient enough.
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Wonder if the Amero will be the substitute. OH, YEAH! I was seriously hoping I wouldn't have to be the one to mention the Amero. |
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I think most common people would just want to know one thing...
'How will this affect me?' ![]() |
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We have nothing to fear but fear itself!
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There's a good one.
While they are busy killing our currency, you should check into the Weimar republic. By giving up the last vestiges of the illusion that our Government is in control of the currency and openly handing it over to a Global system we lose the core element to control and regulate our own economy. This means that a Global board of banking interests can decide to crap all over anything that resembles free trade, by declaring unfair practices to the Global interest. It also means that they are going to be able to indirectly tax us, by inflating or deflating this currency whenever they see fit. Think you're gonna pay 5 Ameros for that gallon of gas? Not anymore, thats not fair on the international market, you now have to pay 65. |
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What's the exchange rate?
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We have nothing to fear but fear itself! Everytime I hear that or read that, I immediately have the sense that someone is trying to sell me something, a kind of "used car salesman" radar blip. |
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It is a talking point that democrats distribute all over the place. That son of a beaitch FDR used it too, even back in those days.
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IMO Soros is a crook. He has used hedge-fund loop-holes to compile a fortune and when the opportunity presented itself he sold for greed and caused premeditated repercussions to the Bank of England.
He is part of the problem and regulation is being written here in the US to stop his brand of greed! Hedge Funds may never return, and if they do they will never be as large or be able to affect the markets like they have in the past. Even if the IMF converts to a different reserve currency, it does not mean the dollar will disappear as our currency. I think the story, "The little boy who cried wolf" was written in Europe. |
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Edited by
willing2
on
Tue 04/07/09 10:35 AM
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http://www.infowars.com/world-bank-president-admits-agenda-for-global-government/
World Bank President and Bilderberg elitist Robert Zoellick openly admitted the plan to eliminate national sovereignty and impose a global government during a speech on the eve of the G20 summit. A central focus of the G20 summit will be the proposal to supplant the dollar with a new global currency. Both the IMF and the United Nations threw their weight behind the implementation of a new global reserve currency system to replace the dollar, in the same week that Treasury Secretary Timothy Geithner told CFR globalists that he was “open” to the idea. China and Russia brought the issue to the forefront of this week’s G20 when they jointly called for a new global reserve currency a week ago. I think Zoellick has a little more insight an info than _____ |
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There are several interest groups.
1) Those who seek to remove dollar, as a precondition to establish the one world currency. These are the people who want to run the same scam that US is running, only in the favor of an international group, rather than in favor of a group of select Americans. There is no difference who will run the show, but one thing that is differentiating them from dollar supporters is that at least they want the more fair determination of who is welcome into the group that runs the scam. 2) Those who seek to remove the dollar to replace it with their own currency. These are no different from us, except in their names and nationalities. 3) Those who want to remove dollar in order to replace it with a global gold or silver standard. Very good intention, but unlikely to happen until there is no one left to scam. 4) Those who want to remove the world reserve currency, whatever it happens to be, in favor of national currencies, backed or not backed by honest metal. Same as above, not to bad, and more likely. 5) Finally, those who want to keep the dollar as the world reserve currency. You have to realize one thing, you find yourself in this group. You can keep your dollar, no matter what, even if the rest of the world goes to hell. If this is what worries you, then you have nothing to fear from the world. However, to those who do realize where the money on which we have such a good life comes from, and they do want to keep it that way, I say good luck. You're not the only and not the best one in the whole god damned world, as far as the art of scamming goes. |
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Edited by
Fanta46
on
Tue 04/07/09 10:55 AM
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http://www.infowars.com/world-bank-president-admits-agenda-for-global-government/ World Bank President and Bilderberg elitist Robert Zoellick openly admitted the plan to eliminate national sovereignty and impose a global government during a speech on the eve of the G20 summit. A central focus of the G20 summit will be the proposal to supplant the dollar with a new global currency. Both the IMF and the United Nations threw their weight behind the implementation of a new global reserve currency system to replace the dollar, in the same week that Treasury Secretary Timothy Geithner told CFR globalists that he was “open” to the idea. China and Russia brought the issue to the forefront of this week’s G20 when they jointly called for a new global reserve currency a week ago. I think Zoellick has a little more insight an info than _____ ![]() ![]() Please,,,, You were real careful not to post all the "IFS" in his statement and failed to identify who Robert Zoellick is! Nice post from a site that identifies itself with slogans like, "The Endgame, Blueprint for Global Enslavement" and "INFOWARS.com,Because there is a war on for your mind." Speaking about the agenda to increase not just funding but power for international organizations on the back of the financial crisis, Zoellick stated, “If leaders are serious about creating new global responsibilities or governance, let them start by modernising multilateralism to empower the WTO, the IMF, and the World Bank Group to monitor national policies.” If! If leaders are serious! LMAO That's a mighty big If! Also, Zoellick, former Executive Vice President of Fannie Mae and advisor to Goldman Sachs, is a top elitist who was intimately involved in the Enron scandal and the 2000 presidential election debacle. He was also a signatory to the Project For A New American century document that called for invading Iraq as part of implementing a brutal world empire in 1998. He was later a foreign policy advisor to George W. Bush. What a brilliant man! A true leader and hero of the American People! ![]() ![]() ![]() ![]() ![]() |
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