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Showing posts with label Reserve currency. Show all posts
Showing posts with label Reserve currency. Show all posts

Wednesday, May 11, 2011

New IMF Report: The U.S. Dollar Needs To Be Replaced As The World Reserve Currency In other words Going digital.

The front of a Spanish national identity cardImage via WikipediaA "global Federal Reserve" that dominates the currency and the economy of the entire planet?
At least with the U.S. Federal Reserve there is hope that someday the American people can convince Congress to shut it down.
A "global Federal Reserve" would not answer to anyone.  Individual nations could attempt to pull out, but then they would potentially be isolated from the rest of the globe and potentially cut off from world trade.
That may sound very far-fetched now, but that is the direction we are headed.

 Revelation 13
14And deceiveth them that dwell on the earth by the means of those miracles which he had power to do in the sight of the beast; saying to them that dwell on the earth, that they should make an image to the beast, which had the wound by a sword, and did live.
 15And he had power to give life unto the image of the beast, that the image of the beast should both speak, and cause that as many as would not worship the image of the beast should be killed.
 16And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:
 17And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.
 18Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six hundred threescore and six.

http://theeconomiccollapseblog.com/archives/shocking-new-imf-report-the-u-s-dollar-needs-to-be-replaced-as-the-world-reserve-currency-and-that-sdrs-could-constitute-an-embryo-of-global-currency

The IMF is trying to move the world away from the U.S. dollar and towards a global currency once again.  In a new report entitled "Enhancing International Monetary Stability—A Role for the SDR", the IMF details the "problems" with having the U.S. dollar as the reserve currency of the globe and the IMF discusses the potential for a larger role for SDRs (Special Drawing Rights).  But the IMF certainly does not view SDRs as the "final solution" to global currency problems.  Rather, the IMF considers SDRs to be a transitional phase between what we have now and a new world currency.  In this newly published report, the IMF makes this point very clearly: "In the even longer run, if there were political willingness to do so, these securities could constitute an embryo of global currency."  Yes, you read that correctly.  The SDR is supposed to be "an embryo" from which a global currency will one day develop.  So what about the U.S. dollar and other national currencies?  Well, they would just end up fading away.
CNN clearly understands what the IMF is trying to accomplish with this new report.  The following is how CNN's recent story about the new IMF report begins....
"The International Monetary Fund issued a report Thursday on a possible replacement for the dollar as the world's reserve currency."
That is exactly what the IMF intends to do.
They intend to have SDRs replace the U.S. dollar as the world reserve currency.
So exactly what are SDRs?
Well, "SDR" is short for Special Drawing Rights.  It is a synthetic currency unit that is made up of a basket of currencies.  SDRs have actually been around for many years, but now they are being heavily promoted as an alternative to the dollar.
The following is how Wikipedia defines SDRs....
Special Drawing Rights (SDRs) are international foreign exchange reserve assets. Allocated to nations by the International Monetary Fund (IMF), a SDR represents a claim to foreign currencies for which it may be exchanged in times of need.
The SDR is a hybrid.  SDRs are part U.S. dollar, part euro, part yen and part British pound.  In particular, the following is how each SDR currently breaks down....
U.S. Dollar: 41.9%
Euro: 37.4%
Yen: 9.4%
British Pound: 11.3%
Now there are calls for other national currencies to be included in the basket.
Russian President Dmitry Medvedev has publicly called for the national currencies of Brazil, Russia, India and China to be included in the SDR.
In January, the Obama administration said that it fully supports the eventual inclusion of the yuan in the SDR.


NWO currency collapse first EU then USD 2011 RFID by kiLLuminati27

Government Moving Forward with Laws Requiring RFID in Drivers' Licenses

http://www.lambslain.com/2011/05/states-moving-forward-with-laws.html
The government is using heightened security concerns arising from the manufactured 'war on terror' and illegal immigration to increase interest and research into biometric technology, with the end goal being mandatory electronic biometric national IDs. The 'war on terror' has destroyed America more in the last ten years than any attack on home soil. "The events of September 11, 2001, were the trigger for a flurry of developments in the biometrics field. The USA Patriot Act, passed in October 2001, introduced measures requiring all foreign visitors to provide machine-readable, biometric travel documents, and put into place an entry-exit system to monitor movements to and from the country. This legislation prompted a number of other countries to adapt their travel documents accordingly and to set up biometric identity checks to ensure border security" [Rebekah Thomas, Biometrics, Migrants, and Human Rights, Global Commission on International Migration, Migration Policy Institute, March 2005].

Florida Considers RFID Chips for Driver's Licenses




April 1, 2011

NBC Channel 2 News, Lee County, Florida - An amendment to a Senate bill is working its way through Florida Senate committees that would require an "electronic authentication" to be added to Florida drivers' licenses.
Right now, drivers' licenses have all the information on the back strip. But to access it, it has to be swiped. The amendment would place Radio Frequency Identification (RFID) chips in the license, which could compromise the security of your identity.
Security expert Walk Augustinowicz breaks down the bill.
"There are other states with RFID in their drivers' licenses, Vermont, New York, Michigan, Washington state," he says.
He goes on to say these states started using the RFID chips as a way to ensure licenses couldn't be duplicated.
However, he explains how easy it is to steal the card's card information in less than a second if you're in the range of an RFID reader.
"It's not something to be taken lightly," he says. "anything once you put a radio chip in it, you need to have physcial protection. There's always a hacker that's going to figure a way around it."
While this is the same technology that could be put in your driver's license, Walt says some states provide people with a security sleeve that protects licenses from being scanned.
Currently, the bill has not been passed. It must still clear several hurdles before being presented to the governor.

VeriChip Highlights Role Implanted Chip May Play in a Government Immigration and Guest Worker Program

http://www.hispanicprwire.com/news.php?l=in&id=6406
Using VeriChip’s secure implantable RFID technology, the Department of Homeland Security can ensure that a secure, tamper-proof system is in place to identify, register and confirm guest worker credentials at the border or at an employer’s premises. VeriChip already employs the same technology to provide secure access to medical records and to secure areas of buildings such as hospitals or office buildings. Medical records access may prove relevant in immigration applications as well. In addition to border security, this device can provide medical records of guest workers that may be unable to communicate (currently a strain on our medical system).

In addition, the VeriChip can also be bonded into a piece of paper, implanted into an ID card or into a wearable wrist bracelet. Use of this RFID chip in tandem with, or in lieu of the immigration “blue card”, provides an additional layer of security to confirm the identity of a guest worker.

“It’s really no different than a tamperproof passport you can carry all the time,” says Silverman. “As concerns mount about falsified documents, VeriChip technology ensures security and privacy for the individual as well as increased security at our borders.”

About VeriChip Corporation

See the Positive ID's website here.
http://positiveidcorp.com/index.html

VeriChip Corporation, headquartered in Delray Beach, Florida, develops, markets and sells radio frequency identification, or RFID, systems used to identify, locate and protect people and assets. VeriChip's goal is to become the leading provider of RFID systems for people in the healthcare industry. VeriChip sells passive RFID systems for identification purposes and active RFID systems for local-area location and identification purposes. VeriChip recently began to market its VeriMed(TM) Patient Identification System which is used to rapidly and accurately identify people who arrive in an emergency room and are unable to communicate. This system uses the first human-implantable passive RFID microchip, the implantable VeriChip(TM), cleared for medical use in October 2004 by the United States Food and Drug Administration.



About Applied Digital - "The Power of Identification Technology"


05-01-2011 • spectrum.ieee.org/
From each volunteer participant, the government collects 10 fingerprints, 2 iris images, and a photo, and if the new data don’t match any identity already enrolled, it assigns the person a unique 12-digit number. After that, a single fingerprint or iris scan should be all that’s needed to verify the identity of any person. As of the end of March, the Unique Identification Authority of India (UIDAI) has registered more than 4 million people this way.
The UIDAI hopes to eventually collect biometrics from a majority of the Indian population. India has many federal and state programs to help people living in poverty, but today it’s nearly impossible to be sure that funds and benefits are actually being delivered to those who need them. The ID project is an attempt to cut down on fraud and graft by increasing accountability and transparency. It’s also meant to provide access to banking and the formal economy that many people lack.
Government biometrics programs have been tried before and failed, in India and elsewhere. The United Kingdom’s universal ID program, for instance, got bogged down by both costs and privacy concerns and didn’t offer tangible benefits to the average citizen. But the UIDAI’s universal ID program, or Aadhaar, as it’s called, seems to be off to a fast start. As soon as he was appointed in July 2009, chairman Nandan M. Nilekani set the ambitious goal of issuing the first million IDs within 12 to 18 months, and the UIDAI hit that mark by January 2011. Efficiency is not a strength of most government bureaucracies, so Nilekani looked to Silicon Valley for help. A core group of Indian expats with Silicon Valley start-up experience began working on the problem, as unpaid volunteers.
Read Full Story
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Friday, July 2, 2010

UN wants US dollar Replaced.

2007 $1 Washington coin reverse.Image via Wikipedia

  • A United Nations report today called for the removal of the U.S. dollar as the global reserve currency, to be replaced by special drawing rights (SDRs) from the International Monetary Fund.
    It called for "abandoning the U.S. dollar as the main global reserve currency, saying it has been unable to safeguard value.
    "A new global reserve system could be created, one that no longer relies on the United States dollar as the single major reserve currency," the report added.

  • read more on www.prisonplanet.com

  • read more on www.prisonplanet.com

  • read more on www.prisonplanet.com
    The dollar plunged today following a United Nations report which called for the greenback to be replaced as the global reserve currency by the International Monetary Fund's special drawing rights (SDRs).
    The dollar's trend of moving inversely to the stock market has seemingly been snapped, with the Dow Jones falling over 100 points at one stage today. However, as soon as markets began to claw back losses, the greenback failed to follow suit, indicating that whichever way markets move, the dollar is in big trouble.
    The UN report called for "abandoning the U.S. dollar as the main global reserve currency, saying it has been unable to safeguard value," according to Reuters.

  • New UN Report Recommends Ditching The Dollar As Global Reserve Currency


  • The United Nations has slammed the U.S. dollar in a new report called Retooling Global Development. They're recommending an end to the dollar's role as dominant reserve currency, and pushing for a new global reserve regime based on a supranational currency made up of a basket of developed nation currencies.
    While we've heard this kind of recommendation before, the UN is re-energizing its push. For example, they blame the financial crisis squarely on the dollar system:
    UN:
    The 2008-2009 global economic crisis demonstrates that the accumulation of deficits by the reserve-currency country, sustained by other countries because of their national policy objectives, is not self-correcting and leads to a crisis of global proportions whose costs are incurred by many innocent parties.

  • read more on www.youtube.com

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Tuesday, June 22, 2010

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




  • 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.

  • 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.

  • 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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Thursday, June 3, 2010

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

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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Tuesday, March 9, 2010

Head of IMF Proposes New Reserve Currency

International Monetary Fund logo.Image via Wikipedia

clipped from abcnews.go.com


Dominique Strauss-Kahn, the head of the International Monetary Fund, suggested Friday the organization might one day be called on to provide countries with a global reserve currency that would serve as an alternative to the U.S. dollar.


"That day has not yet come, but I think it is intellectually healthy to explore these kinds of ideas now," he said in a speech on the future mandate of the 186-nation Washington-based lending organization.


He said having other alternatives to the dollar "would limit the extent to which the international monetary system as a whole depends on the policies and conditions of a single, albeit dominant, country."


Several countries, including China and Russia, have called for an alternative to the dollar as a reserve currency and have suggested using the IMF's internal accounting unit.

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