The Cat is out of the Bag

[seanD]

Timothy Geithner -- the same shmoe who is part of the Bernake and Paulson gang, who are raping our economy via the fed, and doing every conceivable thing wrong for recovery -- is now openly agreeing with Russia and China to a global currency, to replace the dollar, in order to "fix" the economic problem. Seems he may have slipped up and let the cat out of the bag too soon.

I wonder how much of the general public actually knows this, as it is silent in mainstream media?

Sources:

guardian.co.uk
telegraph.co.uk
usnews

[Philosophickle]

This is basically inevitable. The dollar is way too unstable, and if you think about an emerging global economy then you can see why they may want a currency that isn't subject to the whims of a single controlling govt.

[joel]

I'd be okay as long as that global currency happens to be gold (i.e., not fiat). I would be vehemently opposed if it's fiat money.

In fact, gold at one time was the global currency. But then all the nations switched to paper money.

[Kelp]

I agree, who wants to have to pay for everything with mid-sized Italian cars?

[seanD]

Once again, talks of a global currency that would shift regulatory power from the US fed and towards a global institution. They say it will take decades. Maybe so, but they're obviously not considering some unforeseen international crisis or catastrophe, like a world war.

http://www.youtube.com/watch?v=5tc4ypjg5C4

[seanD]

Seems I missed this. UN is also now calling for a global currency...

telegraph.co.uk

[joel]

Seems I missed this. UN is also now calling for a global currency...

telegraph.co.uk

"Replacing the dollar with an artificial currency would solve some of the problems..."
As if the dollar were not an artificial currency.

Although some of the concerns about the dollar may be justified, going back to Bretton-Woods will make things worse. The real solution to the problems is to abolish the dollar.

[seanD]

"Replacing the dollar with an artificial currency would solve some of the problems..."
As if the dollar were not an artificial currency.

Although some of the concerns about the dollar may be justified, going back to Bretton-Woods will make things worse. The real solution to the problems is to abolish the dollar.

Oh, the dollar will sink. This is inevitable, at least from about five out of the six economist I hear (don't let the BS declarations of recovery fool you). We're merely sustaining the corpse from flat-lining by pumping trillions of worthless paper into the system. China and Russia already don't want our dollar anymore. There is no hope, simply because the people at the helm -- Bernake, Geithner, Paulson -- are doing everything conceivably wrong for real sustainable recovery in the long term.

What troubles me is that history shows a disturbing trend -- economic failure, world war, new global political and financial system.

[seanD]

This just goes to show you how full of crap Obama and his band of henchman are in regards to the economy. While Bernake is telling you we're on the road to a recovery, Greespan, who works for the same freakin administration, is declaring that we are in for a crisis...

bbcnews

[Nicholas]

This just goes to show you how full of crap Obama and his band of henchman are in regards to the economy. While Bernake is telling you we're on the road to a recovery, Greespan, who works for the same freakin administration, is declaring that we are in for a crisis...

bbcnews

Are you sure? Because a quick google search says he retired in 2006 and is now doing other work.

[seanD]

Are you sure? Because a quick google search says he retired in 2006 and is now doing other work.

You're right. I had gotten the info that Greenspan was Obama's economic adviser from one source (and a questionable source) that I didn't bother to verify (which I normally do)

[Nicholas]

You're right. I had gotten the info that Greenspan was Obama's economic adviser from one source (and a questionable source) that I didn't bother to verify (which I normally do)

It's alright. We all make mistakes from time to time.

[Chuckg]

You are horribly misinformed, Sean. What world wars have been a direct result of economic failure?

[Philosophickle]

You are horribly misinformed, Sean. What world wars have been a direct result of economic failure?

War is often a last-ditch effort for financially-embittered countries. It's a quick way to get your economy producing and a way to decrease unemployment.

[Chuckg]

That's not true at all. If it were, then why is war-torn Africa one of the poorest places in the world? Neither World Wars were products were of depression(though Hitler was helped to power by one).