Council on Foreign Relations Curses Monetary Sovereignty; Wants Global Currency

[FrankRep]

Council on Foreign Relations Curses Monetary Sovereignty

The New American
May 17, 2004


"Only by eliminating the deadly germ of monetary sovereignty will currency crises become yesterday's disease, and will globalization live up to its economic and political promise." So wrote Benn Steil, a Senior Fellow in international economics at the Council on Foreign Relations, in a Wall Street Journal op-ed for April 22. Mr. Steil's article, entitled "The Curse of Currency Autarky," claims that "financial crises will continue to emerge so long as governments continue to inject autarkic national currencies into internationally integrated national economies."

Autarky, a condition or policy of national economic independence and self-sufficiency, used to be considered a good thing. Along about the 1960s, however, CFR policy wonks began a campaign to deprecate the word and the concept, associating it with anarchy. Autarky--national independence--would not be tolerated in the CFR-planned interdependent new world order. Mr. Steil's immediate target is national currencies. The CFR brain trust is fully aware that a nation's control of its own national currency and monetary policy is essential to economic sovereignty, and economic sovereignty is essential to political sovereignty.

Steil advocates what other one-worlders have previously proposed: supplanting national currencies with three world currencies--the dollar, the euro, and an Asian currency. El Salvador has already dollarized, he notes, so why not the other countries of the Western Hemisphere? Says Steil: "Salvation lies in the Salvadoran solution, dollarization; the continued march of euro-ization; and perhaps the spread of a single Asian currency built on the back of political reconciliation between Japan and China." His hope is that the International Monetary Fund "can muster the political courage" to push this scheme.


SOURCE:
http://www.thefreelibrary.com/_/prin...x?id=117035661






The Shadows of Power: The Council on Foreign Relations and the American Decline

Does America have a hidden oligarchy? Is U.S. foreign policy run by a closed shop? What is the CFR (Council on Foreign Relations)? It began in 1921 as a front organization for J.P. Morgan and Company. By World War II it had acquired unrivaled influence on American foreign policy. Hundreds of U.S. government administrators and diplomats have been drawn from its ranks - regardless of which party has occupied the White House. But what does the Council on Foreign Relations stand for? Why do the major media avoid discussing it? What has been its impact on America's past - and what is it planning for the future? (2008, 272pp, pb)

[FrankRep]

Flash Forward:





The Emerging Global Federal Reserve

As powerful as the Federal Reserve is, just imagine how much more powerful a global Fed would be in terms of its ability to control the global economy and an emerging world currency. By Alex Newman

Waking up to a World Currency

If global financial elites have their way, America will move quickly toward accepting a planetary fiat currency (a currency not backed by a precious commodity like gold) issued by a world central bank. by Alex Newman

IMF Report Promotes Global Fiat Currency, World Central Bank

An April report from the International Monetary Fund promoting a world central bank and a global fiat currency went totally undetected by the global press for months, but after a blog post earlier this month, it is now in the media spotlight. By Alex Newman

[heavenlyboy34]

Interesting that JBS supports autarchy (self-rule), as autarchy, by its nature, shuns external governance (constitutional or otherwise) in favor of self-government.

[FrankRep]

Interesting that JBS supports autarchy (self-rule), as autarchy, by its nature, shuns external governance (constitutional or otherwise) in favor of self-government.

The John Birch Society's view on the Constitution and the role of Government is aligned with Ron Paul's view.

[ILUVRP]

Anyone ever wonder what gold would do if there was a world currency ?

We know what it will do against the euro and $$$$.

[CableNewsJunkie]

Anyone ever wonder what gold would do if there was a world currency ?

We know what it will do against the euro and $$$$.

Benn Steil has written about using gold as a world currency.

[FrankRep]

Benn Steil has written about using gold as a world currency.

A Global Central Bank will not use Gold.
Does the Federal Reserve use gold?

[Zippyjuan]

Interesting comment from Mr Steil in Foreign Affairs http://www.foreignaffairs.com/articl...ional-currency

In fact, capital flows became destabilizing only after countries began asserting "sovereignty" over money -- detaching it from gold or anything else considered real wealth. Moreover, even if the march of globalization is not inevitable, the world economy and the international financial system have evolved in such a way that there is no longer a viable model for economic development outside of them.