PrintMarch 29, 2009
The Drive to Abolish National Currencies
Over the past century, a vast movement to liberalize global capital markets has been underway, with the object of increasing capital mobility to the point where sudden shifts in capital flows could have untold consequences, causing exchange rate volatility, disrupting world trade, and creating an artificial need for a common currency. This was seen with the recent implosion of the US housing market and its profound impact on foreign stock exchanges. Germany, Belgium, and the Netherlands all initiated bailouts comparable to our own. In effect, the present crisis was created for the intended solution -- a global currency that would dissolve national sovereignty. This is no longer merely an academic question. World leaders are gathering on our soil next week to urge global investors to abandon the US dollar as the preferred reserve currency in favor of an internationally traded currency unit similar to the Euro. Americans must be ready, or what has already...(Read Full Article)
