{"id":1353,"date":"2009-04-07T08:38:16","date_gmt":"2009-04-07T16:38:16","guid":{"rendered":"http:\/\/www.cogwriter.com\/news\/?p=1353"},"modified":"2009-04-07T08:40:18","modified_gmt":"2009-04-07T16:40:18","slug":"russia-china-succeeded-in-getting-world-currency","status":"publish","type":"post","link":"https:\/\/www.cogwriter.com\/news\/prophecy\/russia-china-succeeded-in-getting-world-currency\/","title":{"rendered":"Russia & China Succeeded in Getting World Currency"},"content":{"rendered":"

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\nWorld Currencies
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COGwriter<\/a><\/p>\n

While the media made a big deal about the USA and the rest of the G20 not accepting a new world currency as proposed by China and Russia, apparently there was some encouraging of this in a little known section in the agreement:<\/p>\n

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The G20 moves the world a step closer to a global currency<\/span><\/h2>\n

The world is a step closer to a global currency, backed by a global central bank, running monetary policy for all humanity. <\/span><\/h3>\n
Telegraph<\/strong>, London – April 7, 2009<\/span><\/div>\n
By Ambrose Evans-Pritchard [International Business Editor]<\/span><\/div>\n
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\n

A single clause in Point 19 of the communiqu\u00e9 issued by the G20 leaders amounts to revolution in the global financial order. <\/span><\/p>\n

“We have agreed to support a general SDR allocation which will inject $250bn (\u00a3170bn) into the world economy and increase global liquidity,” it said. SDRs are Special Drawing Rights, a synthetic paper currency issued by the International Monetary Fund that has lain dormant for half a century. <\/span><\/p>\n

In effect, the G20 leaders have activated the IMF’s power to create money and begin global “quantitative easing”. In doing so, they are putting a de facto world currency into play. It is outside the control of any sovereign body. Conspiracy theorists will love it. <\/span><\/p>\n

It has been a good summit for the IMF. Its fighting fund for crises is to be tripled overnight to $750bn. This is real money. <\/span><\/p>\n

Dominique Strauss-Kahn, the managing director, said in February that the world was “already in Depression” and risked a slide into social disorder and military conflict unless political leaders resorted to massive stimulus. <\/span><\/p>\n

He has not won everything he wanted. The spending plan was fudged. While Gordon Brown talked of $5 trillion in global stimulus by 2010, this is mostly made up of packages already under way. <\/span><\/p>\n

But Mr Strauss-Kahn at least has resources fit for his own task. He will need them. The IMF is already bailing out Pakistan, Iceland, Latvia, Hungary, Ukraine, Belarus, Serbia, Bosnia and Romania. This week Mexico became the first G20 state to ask for help. It has secured a precautionary credit line of $47bn. <\/span><\/p>\n

Gordon Brown said it took 15 years for the world to grasp the nettle after Great Crash in 1929. “This time I think people will agree that it has been different,” he said. <\/span><\/p>\n

President Barack Obama was less dramatic. “I think we did OK,” he said. Bretton Woods in 1944 was a simpler affair. “Just Roosevelt and Churchill sitting in a room with a brandy, that’s an easy negotiation, but that’s not the world we live in.” <\/span><\/p>\n

There will be $250bn in trade finance to kick-start shipping after lenders cut back on Letters of Credit after September’s heart attack in the banking system. Global trade volumes fell at annual rate of 41pc from November to January, according to Holland’s CPB institute \u2013 the steepest peacetime fall on record. <\/span><\/p>\n

Euphoria swept emerging markets yesterday as the first reports of the IMF boost circulated. Investors now know that countries like Mexico can arrange a credit facility able to cope with major shocks \u2013 and do so on supportive terms, rather than the hair-shirt deflation policies of the old IMF. Fear is receding again. <\/span><\/p>\n

The Russians had hoped their idea to develop SDRs as a full reserve currency to challenge the dollar <\/strong>would make its way on to the agenda, but at least they got a foot in the door<\/strong>. <\/span><\/p>\n

There is now a world currency in waiting. In time, SDRs are likely evolve into a parking place for the foreign holdings of central banks, led by the People’s Bank of China. Beijing’s moves this week to offer $95bn in yuan currency swaps to developing economies show how fast China aims to break dollar dependence<\/strong>. <\/span><\/p>\n

French President Nicolas Sarkozy said the summit had achieved more than he ever thought possible, and praised Gordon Brown for pursuing the collective interest as host rather than defending “Anglo-Saxon” interests. This has a double-edged ring, for it suggests that Mr Brown may have traded pockets of the British financial industry to satisfy Franco-German demands. The creation of a Financial Stability Board looks like the first step towards a global financial regulator. The devil is in the details. <\/span><\/p>\n

Hedge funds deemed “systemically important” will come under draconian restraints. How this is enforced will determine whether Mayfair’s hedge-fund industry \u2013 80pc of all European funds are there \u2013 will continue to flourish. <\/span><\/p>\n

It seems that hedge funds have been designated for ritual sacrifice, even though they played no more than a cameo role in the genesis of this crisis. It was not they who took on extreme debt leverage: it was the banks \u2013 up to 30 times in the US and nearer 60 times for some in Europe that used off-books “conduits” to increase their bets. The market process itself is sorting this out in any case \u2013 brutally \u2013 forcing banks to wind down their leverage. The problem right now is that this is happening too fast. <\/span><\/p>\n

But to the extent that this G20 accord makes it impossible for the “shadow banking” to resurrect itself in the next inevitable cycle of risk appetite, it may prevent another disaster of this kind. <\/span><\/p>\n

The key phrase is “new rules aimed at avoiding excessive leverage and forcing banks to put more money aside during good times.” This is more or less what the authorities agreed after the Depression. Complacency chipped away at the rules as the decades passed. It is the human condition, and we can’t change that. <\/span>http:\/\/www.telegraph.co.uk\/finance\/comment\/ambroseevans_pritchard\/5096524\/The-G20-moves-the-world-a-step-closer-to-a-global-currency.html<\/a><\/span><\/div>\n<\/div>\n<\/blockquote>\n

Thus, the world is now clearly moving more away of the USA dollar as the reserve currency despite claims to the contrary.\u00a0 This is a likely necessary step for the coming Beast power economic dominance of the world.<\/p>\n

Some articles of possibly related interest may include:<\/em><\/p>\n

Europa, the Beast, and Revelation<\/a> Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about “the Beast”? What is ahead for Europe?
\nAnglo – America in Prophecy & the Lost Tribes of Israel<\/a> Are the Americans, Canadians, British, Scottish, Welsh, Australians, Anglo-Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo nations? Why might God allow them to be punished first?
\nWho is the King of the North?<\/a> Is there one? Do biblical and Roman Catholic prophecies point to the same leader? Should he be followed? Who will be the King of the North discussed in Daniel 11? Is a nuclear attack prophesied to happen to the English-speaking peoples of the United States, Great Britain, Canada, Australia, and New Zealand<\/span>? When do the 1335 days, 1290 days, and 1260 days (the time, times, and half a time) of Daniel 12 begin? When does the Bible show that economic collapse will affect the United States?
\nAsia in Prophecy<\/a> What is Ahead for China? Is it a “King of the East”? What will happen to nearly all the Chinese, Russians, and others of Asia? China in prophecy, where? Who has the 200,000,000 man army related to Armageddon?
\nRussia: Its Origins and Prophesied Future<\/a> Where do the Russians come from? What is prophesied for Russia? What will it do to the Europeans that supported the Beast in the end?
\nProphecy Obama: Prophecies of Barack Obama?<\/a> Eight reasons why Barack Obama is apocalyptic and eight reasons why Barack Obama is not the Antichrist. This article includes many biblical and non-biblical prophecies, from around the world, that seem to discuss Barack Obama. Did Nostradamus predict Barack Obama dealing with the Antichrist?\u00a0 Might Barack Obama set the stage for the kings of the North and South as at least one Shiite prophecy suggests?\u00a0 This is the longest and most complete article on this page on Barack Obama prophecies. Read it and decide for yourself if President Obama seems to be fulfilling various prophecies.<\/p>\n","protected":false},"excerpt":{"rendered":"

World Currencies COGwriter While the media made a big deal about the USA and the rest of the G20 not accepting a new world currency as proposed by China and Russia, apparently there was some encouraging of this in a little known section in the agreement: The G20 moves the world a step closer to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1353","post","type-post","status-publish","format-standard","hentry","category-prophecy"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t