Your New World Central Bank and World Currency
Friday, April 16, 2010
- Taken Out of Rothschild´s Expensive CO2-free Air
by Anders euro-med.dk
Summary: The Rothschild think tank, the Chatham House, has presented its proposal for a world currency based on the International Monetary Union´s (IMF) Special Drawing Rights (SDRs) – not based on real values, but only set at a notional value arbitrarily conferred on them, probably to be based on allocated CO2 allowances. The IMF would accordingly become the world’s Central Bank and Treasury. Already the IMF can be regarded as a Rothschild subsidiary. The Chatham House suggests that the IMF’s head and the participating countries’ central bank governors, who are Rothschild-controlled, be given the task of controlling the world currency! The UNEP, the UNCTAD and the G20 have made the same proposal.
The IMF is to have the right to 1. issue the first supranational “currency” – i.e. paper money without any other backing than the good-will and guarantees of the IMF member states. 2. to survey currencies and deal with currency misalignments and promote monetary coordination. 3. to increase the use of SDRs and here, until it becomes the world currrency – in international trading. 4. Take national currencies at exchange rates, which the IMF fixes in return for – paper. 5. determining the wealth of nations by altering their exchange rates to the SDRs. 6. regulate the production of SDRs – thus regulating economical activity through inflation and deflation at the IMF´s liking. 7. In particular there needs to be a market-maker willing to buy and sell SDR bonds at bid/offer spreads that are competitive vis-à-vis those in existing bond markets – use as a unit of account and settlement for oil and other commodities (Let us guess: Rothschild, J.P. Morgan will assist). 8. Foster greater efforts in the peer monitoring and assessment of the full range of economic policies that impinge on countries’ balance of payments and exchange rates. 9. Strengthen the role and legitimacy of international institutions. 10. allowing it to issue its own quarterly reports on exchange rate and other relevant policies 11. The IMF would thereby become more vigorously engaged in ‘naming and shaming’.
The following is a report from March 2010 from the famous British elitist think tank The Chatham House. It summarizes what has been forwarded by the UN, G 20 and also by China: A New World Order with a world currency, viz. the Special Drawing Rights SDRs and here of the IMF.
It is also interesting, because it shows the thinking of the world government elite (according to EU Pres. van Rompuy, 2009 was the 1. year of global governance) : The IMF is to be a world central Bank, as the BIS has been till now.
2 fathers of the International Monetary Fund (IMF): Communist, Harry Dexter White, and John Maynard Keynes
Now let us see who is behind the IMF. It has joint world bank statistics with Rothschild´s BIS. The IMF cooperates with the BIS on financial stability ,and the IMF holds common conferences with the BIS on real estate and financial stability
The Royal Institute of International Affairs (RIIA) is nothing but the Milner Group “writ large.” It was founded by the Group, has been consistently controlled by the Group, and to this day is the Milner Group in its widest aspect. It is the legitimate child of the Round Table organization also spawning the Council on Foreign Relations. The Round Table was the legitimate child of the “Closer Union” movement organized in South Africa in 1907
In his third will Cecil Rhodes left his entire estate to Freemason, Lord Nathan Rothschild as trustee. Rhodes stipulated that his gigantic fortune be used by his disciples to carry out the program he envisioned. Rothschild appointed Freemason Alfred Milner to head up the Secret society for which Rhodes’s first will made provision. Upon his appointment by Rothschild to chair Rhodes’s secret society, Milner recruited a group of young men from Oxford and Toynbee Hall to assist him in organizing his administration of the new society. All were respected English Freemasons. Among them were Rudyard Kipling, Arthur Balfour, Lord Rothschild, and some Oxford College graduates known as “Milner’s Kindergarten.” In 1909, Milner’s Kindergarten, with some other English Masons, founded the Round Table. The grandfather of all modern British Masonic “think tanks” was born.
Three powerful think tank offshoots of the Round Table are (1) the Royal Institute of International Affairs (RIIA), organized in 1919 in London; (2) the Council on Foreign Relations (CFR), organized in 1921 in New York City; and (3) the Institute of Pacific Relations (IPR – dissolved 1960), organized in 1925 or the twelve countries holding territory in what today we call the Pacific Rim.
The Chatham House – or as it was called until 2004: The Royal Institute for International Affairs, has a long and sinister history
Executive Summary and Recommendations “Beyond the Dollar”
Rethinking the International Monetary System A Chatham House Report Edited by Paola Subacchi and John Driffill, Chatham House,
Chatham House and the ESRC World Economy and Finance Programme have looked at the current system, assessed the goals and principles that underpin it and made some recommendations for the way forward.
Dominique Strauss– Kahn is very much pleased with the New World Order plans to make his IMF the World´s Central Bank
This decade will certainly be one of transition. We do not expect a big bang, but a long, gradual process of incremental change and adjustment. However, whether this transition and the rebalancing of the world economy will be smooth remains to be seen.
As a result, the interests and requirements of the emerging economic powers should be taken into account. Policy cooperation should aim to avoid any protectionist reaction to exchange rate movements.
There is an argument for moving towards a multicurrency reserve system in line with the multipolar world, as well as expanding the use of a supranational currency such as the Special Drawing Right (SDR) (see Box 1). The policy recommendations below not only propose the measures that we regard as necessary but also take into account the political and economic costs involved in the transition from the current inadequately functioning system to a more sustainable and functional one.
A multicurrency reserve system for a multipolar world economy
1.1 Develop a multicurrency reserve system that is appropriate for a world of regional trading blocs – Europe, Asia, the Americas – alongside a still preeminent dollar. The disadvantage of losing network externalities would be compensated by gaining stability. Historical experience has shown that two or more reserve currencies can operate simultaneously.
1.2 Encourage a more extensive use of Special Drawing Rights as a supranational currency alongside international reserve currencies that are issued by sovereign states or by sovereign states pooled together in a currency union, as is the case
for the euro.
1.3 Promote cross-border dialogue and policy cooperation in order to manage the transition from a system based on the dollar to a multicurrency one. Institutional arrangements should be strengthened, with a clear mandate to avoid major imbalances.
2. Increase the use of the Special Drawing Rights
2.1 Expand the supply of SDRs in a frequent, predictable and politically independent way, so as to increase the existing stock at least in line with world GDP, gradually reducing the accumulation of dollars.
2.2 Establish a new committee (the ‘International Monetary Policy Committee’) to produce regular recommendations to the IMF board for new SDR allocations. The constitution of such a committee should be designed to ensure that its decisions are independent and fair. It might be chaired by the IMF managing director and composed of the heads of the central banks (All Rothschild´s minions) whose currencies make up the SDR, along with independent experts to allow independent decision-making on changes to the composition of the basket of currencies in the SDRs.
2.3 Establish a substitution account under the IMF into which member countries can deposit dollars, euros, yen or sterling, and receive the equivalent amount in SDRs in their account based on the exchange rate then prevailing. The size of this account should be limited initially and increased gradually, as experience is gained of its use by member countries and of the pattern of deposits and redemptions. Initially the substitution account might allow only one-way transfers, but it should work towards allowing both purchases and redemptions.
2.4 Take steps to increase the use of and demand for SDRs, beyond official circles, in international trade and finance:
2.4.1 The IMF should permit SDR accounts to be opened by private-sector actors.
2.4.2 The IMF or another suitable provider should create a settlement system, so that transactions denominated in SDRs can take place directly between buyers and sellers on a secure and transparentplatform.
2.4.3 The development of SDR-denominated financial instruments and markets in which to trade them should be encouraged. In particular there needs to be a market-maker willing to buy and sell SDR bonds at bid/offer spreads that are competitive vis-à-vis those in existing bond markets. These measures would greatly strengthen confidence in the liquidity of SDRs (i.e. their marketability, acceptability by all countries, convertibility to the dollar and other currencies, and use as a unit of account and settlement for oil and other commodities).
3. Promote dialogue and policy coordination to provide stability, confidence and balanced adjustment
3.1 Foster greater efforts in the peer monitoring and assessment of the full range of economic policies that impinge on countries’ balance of payments and exchange rates.
3.2 Encourage international dialogue between countries issuing a reference currency and individual or groups of countries using the reference currency. Consultation would pre-specify credible actions that would be taken in the case of growing imbalances and required change in reference currencies.
4. Strengthen the role and legitimacy of international institutions
4.1 Rebalance subscriptions to and voting rights within the IMF more rapidly and more radically than is currently taking place. These changes are needed to improve governance of, and increase international confidence in, the IMF. They are important in paving the way to wider use of SDRs. Without them the IMF risks becoming marginalized as an agent of a group of countries with a dwindling global presence. Following the reweighting of the voting rights, the composition of the Executive Board should also be rebalanced.
4.2 Strengthen the IMF’s ‘score-keeping’ capacity by allowing it to issue its own quarterly reports on exchange rate and other relevant policies. These would help in the evaluation of the full range of economic policies that affect exchange rates and the balance of payments, and establish a set of benchmarks against which countries’ actual policies and policy commitments could be assessed. The IMF would thereby become more vigorously engaged in ‘naming and shaming’. Both the management and the board must adjust the incentives for the staff to raise sensitive issues. IMF management, rather than the board, should have the authority to approve such surveillance reports, to further insulate the staff from political pressures.
4.3 Mandate the IMF to deal with currency misalignments and promote monetary coordination, or establish an institution for this purpose. Such an institution could start as a caucus of the countries issuing the reserve currencies – the United States, the Eurozone, the United Kingdom, Switzerland and Japan – and also include countries with the largest accumulation of reserves. This institution should eventually fulfil the function in terms of international monetary affairs that the World Trade Organization does for international trade.
The SDR is not a currency but a basket of currencies currently comprising the dollar, the Japanese yen, the euro and the pound sterling. The relative weights of these currencies are adjusted every five years. The next adjustment will take place in 2010. There have been only four allocations of SDRs made thus far. The last two allocations of 161.2 billion and 21.5 billion were made in August 2009 and September 2009 respectively. The total amount of SDRs is currently 204.1 billion.
These SDRs are distributed to the IMF member states in accordance with quotas that are largely decided by the size of their economy and its openness. The quota determines each member’s voting power in the IMF and its access to IMF funding as well as its financial obligations to the IMF. Wikipedia: “SDRs obtain their reserve asset power from the commitments of the IMF member states to hold and honor them for payment of balances”
Now, as stated above this is a summary of well-known suggestions from the UNEP and the technocrats. Their world currency consists of equal quotas of thin air (CO2) allocated to every person on earth. When you have used your allocation you go broke. You cannot make savings. Barroso 4. febr. 2010: The Copenhagen Accord might not be all that we hoped for. But it is a significant step on the road to a low carbon future. In the end, we will get there. No matter science, no matter the exposures of global warming science as fraud, The New World Order is building our future on thin air and lies. The devil is really at large in the NWO, for the NWO is his order.
Rothschild minion George Soros advocates SDRs as world currency, too. In April 2009 , Downing Street 10 affirmed on behalf of the G20 that the IMF was to be endowed with 250 bn dollars of new SDR allocations. This automatically means more inflation, i.e. theft of the value of our money. The remarkable thing is that the Master of the New World Order, The Rothschild Club, the Chatham House, comes into the open, stamping this one-world inititiative as its policy. That China, Russia and the Gulf states are dissatisfied with the dollar as the world´s only reserve currency and have started efforts to replace became clear last fall. The UNCTAD also wants a new world reserve currency, preferably the SDRs. So instead of gold standard, we are going to have a currency based on – nothing, except the New World order elite´s gracious grants to us subhumans. Did you believe, you could buy a little gold to secure yourself? Oh no. Your gold either consists of Tungsten covered with a thin layer of gold – or your gold certificate is just 1% worth its face value. Well, they are robbing you of your money, anyway, viz. as CO2 taxes.