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Bancor and American Sovereignty

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"Give me control of a nations money supply, and I care not who makes its laws". Mater Amschel Rothschild, founder of the Rothschild banking dynasty.

Some stories are hard to believe and will have life altering outcomes, so unless they can be completely and totally documented it is best not to tell them. 

There have been many rumors about a coming global currency, but at times it has been difficult to find evidence that proves such a currency is in the works. A paper entitled "Reserve Accumulation and International Monetary Stability" by the Strategy, Policy and Review Department of the IMF recommends that the world adopt a global currency called the "Bancor" and that a global central bank be established to administer that currency.

The report is dated April 13, 2010, I will put the address at the bottom of the page.  This is not hype and it is not a rumor.  This is a very serious proposal in an official document from one of the mega-powerful institutions that is actually running the world economy.  Anyone who follows the IMF knows that what the IMF wants, the IMF usually gets.

"Bancor" is the name of a hypothetical world currency unit once suggested by John Maynard Keynes.  Keynes was a world famous British economist who headed the World Banking Commission that created the IMF during the Breton Woods negotiations.

The IMF report  proposed naming the coming world currency unit the "Bancor" in honor of Keynes.

Special Drawing Rights (SDRs),  Over the past couple of years have become the global currency. The report does envision making SDRs "the principal reserve asset" as we move towards a global currency unit.

"As a complement to a multi-polar system, or evenmore ambitiously its logical end point, a greater role could be considered for the SDR."

The report  acknowledges that SDRs  have some serious limitations.  Since the value of SDRs are closely tied to national currencies, anything affecting those currencies will affect SDRs as well

.Right now, SDRs are made up of  different currencies.

*U.S. Dollar (44 percent)

*Euro (34 percent)

*Yen (11 percent)

*Pound (11 percent)

The IMF report recognizes that moving to SDRs is only a partial move away from the U.S. dollar as the world reserve currency and urges and wants a currency that is international.  SDRs are clumsy and cumbersome, because SDRs must still be reconverted back into a national currency before they can be used, and that really limits their usefulness according to the report.

The  IMF report believes that the adoption of a true global currency administered by a global central bank is the answer.The IMF believe that it would be ideal if the "Bancor" would immediately be used as currency by many nations throughout the world, but they also want it to flow along other national currencies as well.

The issuance of money would be provided by a global central bank.  It would be something like the Federal Reserve, only completely outside the control of any particular national government....

"A global currency, bancor, issued by a global central bank (see Supplement 1, section V) would be designed as a stable store of value that is not tied exclusively to the conditions of any particular economy. As trade and finance continue to grow rapidly and global integration increases, the importance of this broader perspective is expected to continue growing."

In fact, at one point the IMF report specifically compares the proposed global central bank to the Federal Reserve....

"The global central bank could serve as a lender of last resort, providing needed systemic liquidity in the event of adverse shocks and more automatically than at present. Such liquidity was provided in the most recent crisis mainly by the U.S. Federal Reserve, which however may not always provide such liquidity."

Do we want a  world currency administered by an international central bank modeled after the Federal Reserve?The Federal Reserve has devalued the U.S. dollar by over 95 percent since it was created and the U.S. government has accumulated the largest debt in the history of the world under this system.

A global currency (whether it be called the "Bancor" or given a different name entirely) would destroy national sovereignty and would represent a major move towards global government. Think about how disastrous the Federal Reserve system and other central banking systems around the world have been, why would we go to a global central banking system modeled after the Federal Reserve?

There are some very powerful interests that are absolutely determined to create a global currency and a global central bank for the global economy that we now live in.

It would be a major mistake to think that it can't happen thereby letting it happen.

http://www.imf.org/external/np/pp/eng/2010/041310.pdf

Letemdangle Uploaded 09/12/2010
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