imf-bombshell-age-america-end-marketwatch: Personal Finance News from Yahoo! Finance

http://finance.yahoo.com/banking-budgeting/article/112616/imf-bombshell-age-america-end-marketwatch
The International Monetary Fund has just dropped a bombshell, and nobody noticed.
For the first time, the international organization has set a date for the moment when the "Age of America" will end and the U.S. economy will be overtaken by that of China.
And it's a lot closer than you may think.
According to the latest IMF official forecasts, China's economy will surpass that of America in real terms in 2016 — just five years from now.
Put that in your calendar.
It provides a painful context for the budget wrangling taking place in Washington right now. It raises enormous questions about what the international security system is going to look like in just a handful of years. And it
casts a deepening cloud over both the U.S. dollar and the giant Treasury market, which have been propped up for decades by their privileged status as the liabilities of the world's hegemonic power.
According to the IMF forecast, which was quietly posted on the Fund's website just two weeks ago, whoever is elected U.S. president next year — Obama? Mitt Romney? Donald Trump? — will be the last to preside over the world's largest economy.
Most people aren't prepared for this. They aren't even aware it's that close. Listen to experts of various stripes, and they will tell you this moment is decades away. The most bearish will put the figure in the mid-2020s.
But they're miscounting. They're only comparing the gross domestic products of the two countries using current exchange rates.
That's a largely meaningless comparison in real terms. Exchange rates change quickly. And China's exchange rates are phony. China artificially undervalues its currency, the renminbi, through massive intervention in the markets.

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Russian President Shows "New World Currency" At G-8 Summit

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  read more on www.worthynews.com
  MOSCOW/AQUILA (Worthy News) — Russian President Dmitry Medvedev has called for a new global currency to replace the dollar as the World's Reserve Currency.
  At the summit of leaders of the eight most influential nations, the G-8,  Medvedev showed a new coin to illustrate what he said was a "united future world currency", Worthy News learned on Monday, June 21st.
  The coin, which bears the words "unity in diversity", was minted in Belgium and presented to all the G-8 leaders attending the gathering in the Italian city of Aquila.
  "We are discussing both the use of other national currencies, including the ruble, as a reserve currency, as well as supranational currencies," Medvdev told reporters.
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  read more on www.bloomberg.com
  July 10 (Bloomberg) -- Russian President Dmitry Medvedev illustrated his call for a supranational currency to replace the dollar by pulling from his pocket a sample coin of a "united future world currency."
  "Here it is," Medvedev told reporters today in L'Aquila, Italy, after a summit of the Group of Eight nations. "You can see it and touch it."
  The coin, which bears the words "unity in diversity," was minted in Belgium and presented to the heads of G-8 delegations, Medvedev said.
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  read more on timesofindia.indiatimes.com
  Medvedev, who has repeatedly called for a supranational currency to match the dollar, said discussions with China are continuing on broadening the global options. The world may need as many as six reserve currencies, Medvedev said.
  "It's something that's obviously needed," he said at the St Petersburg International Economic Forum. "Developing a financial center in Moscow will considerably help to strengthen the rouble's position as one of the reserve currencies." Medvedev's comments underline Russia's ambition to reassert its global power following the financial crisis. Gross domestic product shrank 7.9 % last year, the worst contraction since the fall of communism in 1991, after the credit crunch sent commodity prices plunging.
  "If the world depended completely on the dollar, the situation would have been more difficult," Medvedev said.

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World currency unit intended to rival U.S. dollar for supremacy

clipped from www.financialpost.com Jameson Berkow, Financial Post · Friday, May 28, 2010 A new currency is intended to challenge the U.S. dollar as the world's foremost reserve currency. The WOCU, short for world currency unit, was actually launched by London-based WDX Organization in September 2009, but only seems to be gaining recognition now. Its value is determined as a derivative of the exchange rates of the world's top 20 currencies, as measured by GDP, in order to reduce the risk associated with exchange rate fluctuations. The new currency is similar to the International Monetary Fund's special drawing rights (SDR), which the IMF uses as a reserve asset to supplement the currency reserves of its member states. Both Russia and China have been pushing for the world to switch to a new currency.

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One Global Government

Revelation 17:7 And the angel said to me, Why did you marvel? I will tell you the mystery of the woman, and of the beast that carries her, which has the seven heads and ten horns.

8 The beast that you saw was, and is not; and shall ascend out of the bottomless pit, and go into perdition: and they that dwell on the earth shall wonder, whose names were not written in the book of life from the foundation of the world, when they behold the beast that was, and is not, and yet is. 9 And here is the mind which has wisdom. The seven heads are seven mountains, on which the woman sits. 10 And there are seven kings: five are fallen, and one is, and the other is not yet come; and when he comes, he must continue a short space. 11 And the beast that was, and is not, even he is the eighth, and is of the seven, and goes into perdition. 12 And the ten horns which you saw are ten kings, which have received no kingdom as yet; but receive power as kings one hour with the beast. 13 These have one mind, and shall give their power and strength to the beast.

14 These shall make war with the Lamb, and the Lamb shall overcome them: for he is Lord of lords, and King of kings: and they that are with him are called, and chosen, and faithful. 15 And he said to me, The waters which you saw, where the whore sits, are peoples, and multitudes, and nations, and tongues. 16 And the ten horns which you saw on the beast, these shall hate the whore, and shall make her desolate and naked, and shall eat her flesh, and burn her with fire. 17 For God has put in their hearts to fulfill his will, and to agree, and give their kingdom to the beast, until the words of God shall be fulfilled. 18 And the woman which you saw is that great city, which reigns over the kings of the earth.

clipped from www.cogwriter.com clipped from www.huffingtonpost.com But the one pervading thought was, wherever I went, how badly government was broken The USA will have no serious competition for many generations, China is getting old before it will get rich and Russia is just plain declining, especially in population. Viet Nam will have more people in not many many more years. Joel Kotkin, in his "The Next Hundred Million," provides some reinforcement of this superiority. Thus, the presence of only one superpower can provide some stability as the world attempts to save itself. The European Union (EU) formed in 1993 with the Maastricht Treaty, seeing how well our united concept succeeded. Mind you, they are today a mess, but, still only a teenager, and is a work in progress. We have almost exactly the same Gross Domestic product and they have 500 million people to our 308 million. Let's for the sake of discussion say that someday the world has one government. Won't this be like the United Nations, but worse?

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The WHO Wants To Impose A Global Tax On The Entire World

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• The WHO Wants To Impose A Global Tax On The Entire World

  "he people who brought you "The Great Swine Flu Scare Of 2009" now want to bring you "The Great Global Health Tax Of 2010". The World Health Organization is actually considering a plan to ask governments all over the globe to impose a global consumer tax on such things as Internet activity and everyday financial transactions like paying bills online. Seriously. Apparently the goal of such a plan would be to raise "tens of billions of dollars" which would then be used to "transfer" pharmaceutical research, development and manufacturing capabilities to the developing world. Transfer them from where? Places like the United States? So let's get this straight. According to the WHO global tax plan, they want to do the following three things.... #1) Take away research, development and manufacturing jobs from us and give them to the developing world at a time when we can least afford it. #2) Give much more money and power to the idiots who brought us the global swine flu scare of 2009. #3) Make us pay for all of it. The World Health Organization's "Expert Working Group" is also thinking of asking wealthy nations such as the United States to set aside fixed portions of their gross domestic product to finance the shift in worldwide research and development. What in the world? No, we do not want a global tax. No, we do not want to redistribute our wealth. We've got a big enough debt problem right now without the WHO trying to dip their greedy little fingers into our pockets. Thanks to Obama and the U.S. Congress we are already flat broke as a nation."

  tags: prophecy, Government, Law, UN, Global, US, Money, dept, Tax, more, taxes, WHO, Health

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