Bankruptcy

More on New World Currency

By mcbride

The G20 Summit has quietly issued new currency. 

?A single clause in Point 19 of the communiqué issued by the G20 leaders amounts to revolution in the global financial order. ?

In effect, the G20 leaders have activated the IMF’s power to create money and begin global “quantitative easing”. In doing so, they are putting a de facto world currency into play. It is outside the control of any sovereign body. Conspiracy theorists will love it.

It has been a good summit for the IMF. Its fighting fund for crises is to be tripled overnight to $750bn. This is real money.

Dominique Strauss-Kahn, the managing director, said in February that the world was ?already in Depression? and risked a slide into social disorder and military conflict unless political leaders resorted to massive stimulus.?

Here is a link to this article: http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/5096524/The-G20-moves-the-world-a-step-closer-to-a-global-currency.html

 Michael

Full post as published by Texas Lawyer Blog on April 09, 2009 (boomark / email).