Dollar
loses reserve status to yen & euro
Ben Bernanke's dollar crisis went into a wider mode yesterday as the
greenback was shockingly upstaged by the euro and yen, both of which
can lay claim to the world title as the currency favored by central
banks as their reserve currency. Over the last three months, banks
put 63 percent of their new cash into euros and yen -- not the
greenbacks -- a nearly complete reversal of the dollar's onetime
dominance for reserves, according to Barclays Capital.
Posted 10/15/09
Forbes:
Group Of Seven Fights Irrelevance In New World Order
After decades in charge, the club of rich, industrialised nations is
fast losing sway as a share of global economic power shifts towards
big developing countries. That was a lesson of the Group of Seven's
meeting in Istanbul at the weekend, when the absence of China showed
the G7 could no longer tackle the world's economic problems on its
own. Finance ministers and central bank chiefs from the G7 implored
China in a diplomatically worded statement to let the Chinese
currency rise, as they have done for several years.
But China showed no sign of complying, and the G7 spent much of its
time to discussing whether it should meet less often, with less pomp
and perhaps with fewer public statements. G7 statements have all too
often "interested nobody because there's no follow-up most of
the time", said Dominique Strauss-Kahn, the head of the
International Monetary Fund. Marco Annunziata, chief economist at
UniCredit bank in London, said: "Istanbul is being seen by many
as the G7's swan song, before it relinquishes power.
Posted 10/7/09
IMF
Takes On Bigger New World Order Role, Chief Hails New Era Of
Collaborative "Global Governance"
The International Monetary Fund took on a bigger global role Sunday
as its 186 member nations accepted the mantle of guiding a lasting
economic recovery from the 20 largest economies. The IMF's steering
committee endorsed the Group of 20 summit plan for sustainable
growth after the worst economic crisis in decades, including an
increase in voting rights of at least five percent for
under-represented countries. At their Pittsburgh summit a little
more than a week ago, the G20 largest rich and emerging-market
economies, asked the IMF to help them shape a robust global economy
and reform the fragile financial system. The International Monetary
and Financial Committee (IMFC), representing all members, backed the
plan at a meeting in Istanbul ahead of the annual meetings of the
IMF and World Bank that open Tuesday.
Posted 10/7/09
Right
Out Of Masonic Doctrine: World Bank Welcomes "New Economic
Order From The Ashes Of Crisis"
The wrenching financial crisis of the past two years will provide
the catalyst for a profound change in the global economy – which,
according to the man running the World Bank, will see China and
India become established centres of power, the dollar eclipsed as
the sole reserve currency, and Latin America, south-east Asia and
Africa emerge as new sources of growth. But as he surveys the
wreckage caused by what the bank and its sister organisation, the
International Monetary Fund, agree is the most severe crisis since
the devastation caused by the second world war, Robert Zoellick is
surprisingly upbeat about the future. Asked by the Observer how he
envisages the global economy in 20 years' time, Zoellick says:
"There will certainly be a larger role for the emerging powers,
there will be multipolar sources of growth, there will be more
south-south trade between developing countries. "The crisis
gives us the opportunity to hasten this process. If we are concerned
about the past reliance for growth on the US consumer, we have to
make sure consumers in developing countries have enough finance to
buy."
Posted
10/7/09
Obama
Seeks G-20 Support For New Financial World Order
President Barack Obama says he is determined to go after the
"reckless risk-taking" that pushed the global economy into
the worst financial crisis since the 1930s, and he is also pushing
for countries to promote more balanced growth going forward. He is
getting support for his efforts from other leaders, although
significant differences remain as Obama prepares to serve as host
for a Group of 20 meeting of the world's leading economies on
Thursday and Friday in Pittsburgh. In addition to pushing the U.S.
agenda, Obama is certain to face tough questions from other G-20
countries over whether his administration can develop a credible
plan to curb a soaring U.S. budget deficit that the White House
projects will hit an eye-popping $1.548 trillion this year and total
$9 trillion over the next decade.
Posted 9/22/09
Prince
Charles Call For "Gigantic Partnership" Of Governments
Administered By The World Bank
In one of his most out-spoken interventions in the climate change
debate, he said a £15 billion annual programme was required to halt
deforestation or the world would have to live with the dire
consequences. "We will end up seeing more drought and
starvation on a grand scale. Weather patterns will become even more
terrifying and there will be less and less rainfall," he said.
"We are asking for something pretty dreadful unless we really
understand the issues now and [the] urgency of them." The
Prince said the rainforests, which provide the "air
conditioning system for the entire planet", releasing water
vapour and absorbing carbon, were being lost to poor farmers
desperate to make a living. He said that every year, 20 million
hectares of forest – equivalent to the area of England, Wales and
Scotland – were destroyed and called for a "gigantic
partnership" of governments, businesses and consumers to slow
it down.
Posted
9/22/09
UK's
Brown Calls For New Economic Order
British Prime Minister Gordon Brown said leaders of 20 rich and
developing countries must start to sketch out the outlines of a new
global economic order when they meet in Pittsburgh later this week,
as well as making sure that the fledgling recovery sustains itself.
In a briefing Monday ahead of Thursday's Group of 20 meeting, Brown
said it was important that longer-term issues, such as preventing
huge financial imbalances in trade, savings and consumption, are
tackled as the global economy recovers from its worst recession
since World War II. Countries running surpluses, such as Germany,
have suffered as badly as those with deficits during the recession
as demand for their exports collapsed. "We are looking at how
we can put in place for the future the mechanism or path that can
lead us to either making decisions about better ways of creating
growth that is sustainable in the future, a better early warning
system for the world economy about potential crises, a better way of
resolving difficulties or imbalances around the world," Brown
said.
Posted 9/22/09
U.N.
‘Climate Change’ Plan Would Likely Shift Trillions to Form New World
Order Economy
A United Nations document on “climate change” that will be
distributed to a major environmental conclave next week envisions a huge
reordering of the world economy, likely involving trillions of dollars
in wealth transfer, millions of job losses and gains, new taxes,
industrial relocations, new tariffs and subsidies, and complicated
payments for greenhouse gas abatement schemes and carbon taxes — all
under the supervision of the world body. Those and other results are
blandly discussed in a discretely worded United Nations “information
note” on potential consequences of the measures that industrialized
countries will likely have to take to implement the Copenhagen Accord,
the successor to the Kyoto Treaty, after it is negotiated and signed by
December 2009. The Obama administration has said it supports the treaty
process if, in the words of a U.S. State Department spokesman, it can
come up with an “effective framework” for dealing with global
warming. The 16-page note, obtained by FOX News, will be distributed to
participants at a mammoth negotiating session that starts on March 29 in
Bonn, Germany, the first of three sessions intended to hammer out the
actual commitments involved in the new deal.
Posted 9/16/09
McClatchy
Announces Mission Accomplished In New World Order Scheme
One year after the near collapse of the global financial system,
this much is clear: The financial world as we knew it is over, and
something new is rising from its ashes. Historians will look to
September 2008 as a watershed for the U.S. economy. On Sept. 7 ,
the government seized mortgage titans Fannie Mae and Freddie Mac .
Eight days later, investment bank Lehman Brothers filed for
bankruptcy, sparking a global financial panic that threatened to
topple blue-chip financial institutions around the world. In the
several months that followed, governments from Washington to
Beijing responded with unprecedented intervention into financial
markets and across their economies, seeking to stop the wreckage
and stem the damage. One year later, the easy-money system that
financed the boom era from the 1980s until a year ago is smashed.
Once-ravenous U.S. consumers are saving money and paying down
debt. Banks are building reserves and hoarding cash. And
governments are fashioning a new global financial order.
Posted 9/11/09
Medvedev
Shows Off Sample Coin of New ‘World Currency’ at G-8
<-FEATURE!!!
Posted 7/13/09
European
Central Banksters seek World Currency, Total Control
<- FEATURE!!!
‘(…)
We have been searching for a new monetary order since the fall of
the Bretton Woods agreement, in the summer of 1971, and even that
order was not so orderly, after all.’
Posted 7/8/09
India
Joins Russia, China in Questioning U.S. Dollar Dominance
Posted 7/8/09
China
Reiterates Call for New World Reserve Currency (Update4)
Posted 6/29/09
Cash
to become extinct as chips take off
CASH is
accelerating down the path to extinction as new technologies
threaten to mark the end of loose change within a decade. Bank and
credit union bosses say cash won't be alone, with wallets and
credit cards also likely to disappear too. They told The
Advertiser's round table forum that cash and cards will be
replaced by computer chips embedded in mobile phones, watches or
other portable devices.
Posted 6/22/09
Russia,
China, others urge diverse monetary system
Posted 6/17/09
Bilderberg
Group orders destruction of US Dollar?
Posted 5/25/09
Brazil
and China eye plan to axe dollar; Nations move to use own
currencies for trade...
Posted 5/20/09
Bilderbergers
Plan Secret Meeting In Greece To Plot New World Economy
<-
FEATURE!!!
Posted 5/7/09
China
calls for reform of global monetary system
Posted 4/28/09
The
G-20 financial summit took great strides toward the creation of
a global currency!
(by
David Bay)
"The world is a step closer to a global currency, backed by
a global central bank, running monetary policy for all
humanity."
Posted 4/13/09
G-20
to give $1 trillion to IMF, World Bank
Prime
Minister Gordon Brown says leaders at the G-20 summit have
agreed to give $1 trillion to the International Monetary Fund
and the World Bank to help struggling nations around the world.
Posted 4/7/09
Chavez
to seek Arab backing for `petro-currency'
Posted 4/1/09
Russia
backs return to Gold Standard to solve financial crisis
Posted 4/1/09
Russia,
China cooperate on new currency proposals
Posted 4/1/09
China
challenges US global financial leadership
Posted 3/30/09
The
march to a global currency
President
Obama and his advisers know exactly what they are doing.
Posted 3/30/09
A
New Global Currency (by
Paul Proctor)
It was
reported recently that two of the world’s superpowers, Russia
and China, have called for a new global currency. I believe
they’re doing this because they know that the U.S. is printing
huge amounts of dollars right now to pay on its own massive
debts – debts that other countries, like China, have been
financing for years by purchasing U.S. Treasury Bonds. They
understand something that most Americans do not – that the
more paper money you print, the less it’s worth – and right
now, we’re printing it as fast as we can.
Posted 3/27/09
China
calls for new global currency
<-
FEATURE!!!
China is calling for a new global currency to replace the
dominant dollar, showing a growing assertiveness on revamping
the world economy ahead of next week's London summit on the
financial crisis.
Posted
3/25/09
Obama
calls for global action to end downturn
Writing in a column sent to major world newspapers, Obama urged
leaders of the Group of 20 major economies to follow the U.S.
lead by taking action to stimulate their economies until global
demand is restored. "We are living through a time of global
economic challenges that cannot be met by half measures or the
isolated efforts of any nation," Obama wrote ahead of the
G20 summit he will attend in London in early April.
Posted 3/25/09
International
Economic Forum Of The Americas To Meet Under Banner
"Adapting To The New World Order"
<-
FEATURE!!!
Posted 3/24/09
World
Leaders Considering Single Currency Amidst Severe Global
Economic Crisis
Posted 3/23/09
Nobel-prize
winner backs world currency
President Nursultan Nazarbayev has won
backing for his plan for a single world currency from...
Posted 3/17/09
The
drive to a Global Economy
(by David Bay)
Can
you see what this global regulator is saying? If the crisis
deepens and broadens, the solution to prevent an economic
meltdown may not lie within any individual country, but may
require a coordinated global response!
Posted
9/22/08
American
Economy on Life Support! (by
David Mayer)
The economy of the United States of America
was once the strongest in the world. What happened?
Posted 3/2/07
Asian
stocks tumble as yen surges
Posted
3/7/07
Birth
of the Euro
Cashless
economic system
(by David Bay)
Europe is predicted to be totally on a cashless economic system in just
five years!
Posted
3/19/07
Cashless
society
Breakthrough mobile phone money transfer service wows Kenyans
Posted 4/4/07
Cashless
society by 2012, says Visa chief
Paying for goods with notes and coins could be consigned to history
within five years, according to the chief executive of Visa Europe.
Peter Ayliffe said that, by 2012, using credit and debit cards
should be cheaper and more convenient than cash.
Posted 3/16/07
Continental
currency all the rage
On Monday,
Bank of Canada Gov. David Dodge told the Chicago Council on Global
Affairs that North America could one day move toward a euro-style
currency.
Posted
5/25/07
Dollar
falls against yen, euro in Asia
The dollar
dipped against the euro in Asia Monday to its lowest level in almost two
months, and it also fell against the yen as market sentiments turned
sour toward the dollar.
Posted
2/28/07
The
dollar melts as Iraq burns
The demise of the dollar has clear links to the Iraq war and the world's
loss of confidence in America's elites.
Posted 12/5/06
Dubai
to invest in trade zones worldwide
Economic Zones World (EZW), a new commercial entity
created under government-owned holding company Dubai World, already has
several projects under discussion in Pakistan, India, Oman, South Korea and
Morocco.
Posted
1/24/07
EU
and US on verge of agreement ahead of world trade talks: report
European and American trade negotiators are on the
verge of an agreement that could restart global trade talks, the Financial
Times has reported.
Posted
1/23/07
EU
Blesses Wolfowitz as Next World Bank Chief
Posted
3/31/05
EU
calls on World Bank to quickly replace Wolfowitz
The European
Commission on Friday called on the World Bank to name a successor to its
president Paul Wolfowitz as soon as possible, saying "stable and
strong political leadership at its top is important."
Posted
5/25/07
Euro
displaces US dollar
Posted
1/17/07
Euro
soars against US dollar
Posted
11/27/06
Euro
strikes two-year high at 1.3435 dollars
The European
single currency surged past 1.34 dollars on Thursday to strike the highest
level since March 14, 2005.
Posted 4/6/07
Euro
Up Against Dollar; Central Banks Hint at Switch
Posted 4/6/06
Euro's
rise raises 'catastrophic' fears
Posted 12/27/04
Euronext,
NYSE still seek German, Italian deal
Euronext and the NYSE Group (NYX.N: Quote, Profile,
Research) said on Sunday they were still willing to open discussions with
German operator Deutsche Boerse (DB1Gn.DE: Quote, Profile, Research) and
Italy's Borsa Italiana over a possible four-way merger.
Posted
10/17/06
Europe
tops US in stock market value
Europe
has eclipsed the US in stock market value for the first time since
the first world war in another sign of the slipping of the global
dominance of American capital markets.
Posted 4/3/07
Global
Agenda: Kuwait can't wait
Last
Friday, Kuwait announced that it was abandoning the "peg"
linking the value of its currency, the dinar, to the US dollar,
replacing it with a peg to a basket of currencies. Kuwait was the
first country in the Middle East to make such a move, but it is
unlikely to be the last.
Posted 5/28/07
Globalisation
shakes the world
Posted
1/23/07
Gold
gains on weak dollar, Iran worry
Posted 5/3/06
Goodbye
U.S. dollar, hello global currency
The director of international economics at the Council on Foreign Relations
has launched a scathing attack on sovereignty and national currencies.
Posted 5/10/07
Huge
U.S. economic losses forecast in flu pandemic
Posted
3/26/07
IMF
Identifies Risk of `Disorderly' U.S. Dollar Drop (Update1)
A "disorderly" drop in the dollar is
the biggest risk to world financial markets, the International
Monetary Fund said, urging policy makers to prepare and act quickly
when asset prices slump.
Posted 9/15/06
Iran
seeks euro-denominated oil market
Posted 5/9/06
Iran
War 'Could Triple Oil Price'
World oil prices could triple if the West's
stand-off over Iran's nuclear programme escalates into conflict, the
Saudi Arabian government has warned.
Posted
6/22/06
London
stock trader urges move to 'amero'
Says many unaware of plan to replace
dollar with N. American currency
Posted
11/28/06
Many Europeans Still Troubled by
Euro
Posted
1/17/05
Market
meltdown threatens stability of UK debt mountain
Mervyn King, governor of the Bank of England,
warned that the road ahead for the stock market might be bumpy. His
warning will have worried many consumers, particularly those sitting on
big mortgage and credit card debts.
Posted
6/20/06
Markets
rocked by sharp slide in dollar
A sharpening slide in the US dollar unnerved global
markets on Friday as investors sought to protect themselves from the
possibility of sustained dollar weakness.
Posted
11/27/06
The
New Global Currency - CFR chief: Monetary nationalism, sovereignty should be
abandoned
Benn Steil, writing in the current issue of CFR's influential Foreign
Affairs magazine, says "the world needs to abandon unwanted currencies,
replacing them with dollars, euros, and multinational currencies as yet
unborn."
Posted 5/11/07
NYSE
offers $10 billion for European exchange
The New York Stock Exchange offered 8 billion euros ($10.2 billion)
in cash and shares for Euronext today...
Posted 5/24/06
Oil
will soar to well over $100, stay high: Rogers rainfall.
"We're
going to have high oil prices for a very long time. The surprise is
going to be how high it goes," Rogers said.
Posted
7/7/06
The
Plan to Replace the Dollar With the 'Amero'
The idea to form the North American Union as
a super-NAFTA knitting together Canada, the United States and Mexico
into a super-regional political and economic entity...
Posted
5/25/06
Regional
currency to replace dollar in Argentina-Brazil trade
Argentina and
Brazil, South America's two largest economies, will drop the U.S. dollar
in favor of a regional currency in their bilateral trade starting in
October 2007, Argentine Economics Minister Felisa Miceli said.
Posted
5/25/07
Risk
To World Economy Rises From Climate And Disease
Posted
1/15/07
Schumer
Warns On No-Swipe Credit Cards
No-swipe credit cards that use radio waves to relay their data
put consumers at increased risk of identity theft, Sen. Charles
Schumer (news, bio, voting record) said Sunday.
Posted
12/6/06
Stalling
U.S. economy means euro is on the up
Posted
12/7/06
Threat
to New York as centre of finance
New York is facing a threat to its position as the
world's leading financial centre, according to a report commissioned by
Michael Bloomberg, the city's mayor, and New York Senator Chuck Schumer.
Posted
1/23/07
Trade
gaps haunt the global economy
Last week, the International Monetary Fund released its semiannual
Global Financial Stability Review, ahead of meetings this weekend in
Singapore. The report was full of warnings that the risk
of a global financial crash is increasing.
This comes hot on the heels of a message from HSBC, one of the
world's largest investment banks, that it has put
the United States on recession alert.
Posted 10/3/06
THE
UK moved a step closer to becoming a cashless society
Posted
9/5/07
US Dollar Crisis
Evokes Panic Among World Financial Elite
Posted 3/10/05
U.S.
dollar facing imminent collapse?
Posted
12/12/06
US
dollar 'will keep falling'
Posted
11/28/06
US
to forge future of European financial markets
After years of
jostling and failed talks between the British, French and German
markets, the deal-making ability of US operators NYSE and Nasdaq
looks set to create a trans-Atlantic, rather than pan-European,
trading area. The New York Stock Exchange Group said Thursday it
planned to acquire the European stock market Euronext for about 10
billion dollars (7.7 billion euros) in cash and stock, creating the
first trans-Atlantic securities market.
Posted 6/7/06
West
must prepare for Chinese, Indian dominance
Western nations must prepare for a future dominated by China and
India, whose rapid economic rise will soon fundamentally alter
the balance of power, former World Bank chief James Wolfensohn
has warned.
Posted 11/28/06
Wolfowitz
to head World Bank
Posted 3/18/05
World
economy 'facing slowdown'
Posted
9/10/07
World
Stocks bloodied as yen marches higher
Posted
3/5/07
