US Backing for World Currency Stuns Markets

[Dantheman62]

I thought in your other thread peaceandlove,about congress woman Bachmann, that both Bernanke and Geithner said no to the Chinese currency thing?

[peaceandlove]

Oops, Dupe!

[peaceandlove]

Yes Dan, that was on March 24, 2009 as answered to Rep. Michelle Bachmann (MN) in the House.

Congresswomen Bachmann 'Do-Si-Dos' with Bernanke and Geithner

At minute 2:25 she poses a question to both Geithner and Bernanke. "We've seen both China, Russian and Kazakhstan make calls for an international monetary conversion to an international monetary standard as soon as the G20 (April 2nd) and I'm wondering would you 'categorically' renounce the United States moving away from the dollar and going to a global currency as suggested this morning by China and also by Russia." Both Geithner and Bernanke answer: "I would, yes" and "I would also" respectively. (Can't see Geithner's face when he answers, but you can SEE Bernanke's!!!! (Looks nervous to me.)) Shortly after that question Geithner responds to an AIG question with this: "Because of the absence of authority, YOUR GOVERNMENT was faced with no good options. (I wonder whose government Geithner works for?)

Video is here: http://www.campaignforliberty.com/bl...cpg=1#comments
Or here: http://www.youtube.com/watch?v=E9DgM...layer_embedded



Here is another interesting Bachmann video from October 17th, 2008.

Michelle Bachmann Accuses Congress of Being Un-American

Video (1:03): http://www.youtube.com/watch?v=E_pN2IPAw6E

[peaceandlove]

A New World Currency Draws Nearer After Geithner's Slip

Submitted by cpowell on Thu, 2009-03-26 14:47. Section: Daily Dispatches
By Ambrose Evans-Pritchard
The Telegraph, London
Wednesday, March 25, 2009

Excerpt:

The pitfalls of a world central bank are obvious. It is hard enough for the European Central Bank to run policy for 16 states in a region with a shared history, and shared EU institutions (Commission, Court of Justice, competition police, etc). The politics of global monetary management would be poisonous.

The heads of the Fed, the ECB, and the Bank of England, must all testify before parliaments and answer to democracy. There is no world parliament, no world government. Who would control a super-IMF?

In theory, this world reserve bank would be above politics. China's plan suggests a resource currency along the lines of the "Bancor" floated by Keynes at Bretton Woods. This was anchored on 30 commodities, giving it a broader base than the Gold Standard. Such a currency would prevent the "credit-based" debauchery of today's fiat system, says Mr Zhou.

Complete article: http://www.gata.org/node/7303

[peaceandlove]

For anyone who has not checked out Benjamin Fulford's blogs which I have been posting under Project Avalon General Discussion http://projectavalon.net/forum/showthread.php?t=12410, this is the most recent.

BLOG By BEN 3/28/2009

The secrets of the US dollar and the new currency

Blog: http://benjaminfulford.typepad.com/benjaminfulford/

A lot of veterans in the financial industry are puzzled by why the US dollar does not collapse. There are some esoteric secrets to the dollar that explain this. First of all dollars are created at several locations around the world. All the dollars have a code number on them and, depending on the code, some are accepted as international currency and some are not. Over 70% of all the dollars ever created are held by non-Americans. Those people do not want their hard earned dollars to be devalued. For that reason, the countries of the world have stopped accepting all US dollars printed by the Federal Reserve Board since September 11th of 2008. That is why there is no hyper-inflation and the dollar has not collapsed despite the Feds printing out over 13 trillion dollars since September 2008.

No matter how much President Obama and the Feds say no to a new international currency controlled by the IMF, they are powerless to do anything about it. The Feds bought themselves a bit more time this week by cancelling their missile defense in the Czech republic and selling two air-craft carriers (to the Chinese?). However, no matter how much they try to buy time, the Fed has de facto lost the right to print a reserve currency.

[peaceandlove]

Originally Posted by Dantheman62

I thought in your other thread peaceandlove,about congress woman Bachmann, that both Bernanke and Geithner said no to the Chinese currency thing?

Dan,

Remember when we had this conversation on this thread?

Re: What do you think of Benjamin Fulford's latest blogs?
http://projectavalon.net/forum/showthread.php?t=12410

Hey peaceandlove in that other thread with congresswoman Bachmann, she asked the question about the China currency thing to Bernanke and Geithner, and they both said no!

Blessings Dan,

Well, a week from now we will see if they make any progress. Some other prominent people have mentioned they did not think they could pull off a 'New World Currency' this quickly.

Stay tuned, it's like a soap opera out there...like Swanny said on another thread: "You couldn't make this stuff up if you tried."

PaL

I was just listening to Judge Andrew Napolitano speaking at The Campaign for Liberty Regional Conference in St. Louis Missouri: See Speeches here:

RON PAUL ~ St. Louis, Missouri C4L Speech 3/27/2009 "Economy, The Fed, Government"
VIDEO OPTION: Post #2
http://projectavalon.net/forum/showt...251#post125251
I highly recommend listening to the videos of the whole evening, including guest speakers.


At minute 37:52 of the first video, Judge Napolitano comments:

"A member of Congress, Michelle Bachman, with whom I don't agree on everything, but she was brilliant the other day. Congressman Bachman asked Geithner "Where in the Constitution does the Congress have the power?"

Then Barney Frank strikes the gavel and chimes in: "You're time is up, the Secretary does not have to answer."

Napolitano then adds: "Now you can't make this stuff up!"

What say YOU! Isn't that funny? Almost the same words.

FOR ANYONE THAT HAS NOT HEARD BACHMAN'S SPEECH:
Congresswomen Bachmann 'Do-Si-Dos' with Bernanke and Geithner
http://projectavalon.net/forum/showthread.php?t=12468

[Barron]

Russia, China cooperate on new currency proposals: Kremlin

by Staff Writers
Moscow (AFP) March 30, 2009

Article here:

http://www.terradaily.com/reports/Ru...emlin_999.html