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Obama Denounces Global Currency While Creating The Very Means For Its Introduction
Geithner, Bernanke & Obama scoff at demise of dollar while feverishly concocting perfect storm for its collapse
Paul Joseph Watson
Prison Planet.com
Wednesday, March 25, 2009
Obama, Geithner and Bernanke yesterday publicly defended the dollar and denounced proposals by China and Russia to supplant the greenback with a new global currency, and yet the very policies of the Obama administration, the Treasury and the Federal Reserve are creating the perfect storm for the dollar’s death and its replacement with a new international reserve currency.
As we reported on Monday, China has expressed support for Russia’s proposal to hand the IMF the power to create a new supra-national global currency in response to the call for an alternative to the U.S. dollar as the world reserve currency.
Last week the Kremlin called for the “creation of a supranational reserve currency to be issued by international institutions as part of a reform of the global financial system.”
Yesterday, Barack Obama, Timothy Geithner and Ben Bernanke all separately expressed support for the dollar and denounced the Chinese-Russian proposal for a new global currency.
“… The dollar is extraordinarily strong right now,” said Obama during his prime-time press conference. “The reason the dollar is strong right now is because investors consider the United States the strongest economy in the world, with the most stable political system in the world. So, you don’t have to take my word for it.”
When asked if he supported the introduction of a new global currency, Obama flatly stated, “No, I don’t support a global currency.”
Watch the clip below courtesy of Raw Story.
During Tuesday’s congressional hearing, both Geithner and Bernanke echoed Obama’s statement.
“Would you categorically renounce the United States moving away from the dollar and going to a global currency as suggested by China?” a lawmaker asked Treasury Secretary Geithner.
Geithner immediately responded, “I would.”
“And the chair?” the lawmaker asked, after turning to Fed chairman Bernanke.
“I would also,” Bernanke said.
The creation of a new supra-national global reserve currency to supplant the U.S. dollar would likely lead to a complete collapse of the greenback, of which trillions are held in in foreign exchange reserves by foreign countries such as China and Japan.
(ARTICLE CONTINUES BELOW)
In the case of Obama, Geithner and Bernanke, actions certainly speak louder than words, because while publicly denouncing the demise of the dollar and the call for a new global currency, their every policy is creating the very means and justification for its introduction.
Bernanke himself has vehemently supported efforts to create a global regulatory framework that would act as the vehicle for the introduction of a new global currency to replace the dollar.
He has echoed the sentiments of Blair, Brown, Merkel, Sarkozy and others in calling for a new world economic order and “A strategy that regulates the financial system as a whole, in a holistic way, not just its individual components,” Bernanke told a CFR audience at a speech earlier this month.
“I also will not say much about the international dimensions of the issue but will take as self-evident that, in light of the global nature of financial institutions and markets, the reform of financial regulation and supervision should be coordinated internationally to the greatest extent possible,” said Bernanke, adding that the crisis is “very much an international problem, and it requires international solutions.”
The endgame of a form of supervision “coordinated internationally to the greatest extent possible” can mean little else but the creation of a global currency that can be tightly regulated and controlled by international bodies such as the IMF and World Bank, therefore Bernanke’s public denouncement of a “global currency” is nothing more than a two faced stunt.
In addition, as Ron Paul has warned, Bernanke’s policies are leading to the destruction of the dollar and the creation of a vacuum that would create the perfect pretext for the introduction of a global currency.
Trillions upon trillions of freshly printed federal reserve notes that are being used to throw good money after bad, pay corrupt banker’s bonuses and bailout failed, inept and incompetent banks and corporations at the expense of the taxpayer are going to create a hyperinflationary holocaust that will plunge the dollar into a crisis never before experienced and will undoubtedly put massive pressure on China and Japan to liquidate their holdings of U.S. debt and replace it with a new form of international reserve currency.
The fact that banks are still holding on to the trillions printed since September last year has delayed any significant inflationary impact, but when the lending starts again, confidence in the greenback’s ability to act as an international reserve currency will sink and calls for its replacement will reach a crescendo.
Treasury Secretary Geithner has played a leading role in the wholesale looting of the greenback, announcing this week that the printing presses will be cranked to the tune of at least another $1 trillion to buy more “toxic assets” from the sagging balance sheets of failing institutions – again, all at the expense of the taxpayer who will pay for it with rampant tax hikes and runaway inflation on fuel and food later down the road.
This will mirror the situation in Iceland, where massive devaluation of the krona has destroyed savings and led to calls for the country to abandon their currency altogether and join the Euro. A similar fate awaits the U.S. with “helicopter Ben” and his loyal sidekick Geithner doing everything in their power to destroy the dollar’s value with ceaseless so-called “stimulus” plans.
Some analysts have gone even further, suggesting that the hyperinflationary backlash will not be on a par with Iceland, but with Zimbabwe, where the Zimbabwean dollar has suffered annual inflation of over 200 million per cent over the last few years.
Of course, the pound sterling and the Euro, on the back of identical hyperinflation caused by central banks overprinting money, will also collapse, leaving no alternative but for the introduction of a new global reserve currency to “restore confidence”.
And so we turn to Obama – the man who has used his political capital, slick speeches and confident smile to oversee the greatest destruction of American wealth since the great depression. Obama has acted as the slimy salesman for the introduction of Bernanke and Geithner’s multi-trillion dollar programs that can have no other effect but to weaken the position of the dollar as the global reserve currency, so for him to glibly express his opposition to a new global reserve currency that will replace the dollar is an act of gut-wrenching hypocrisy.
Obama has continually demonized private enterprise in favor of government intervention and has acted as the engine for the gargantuan transfer of wealth from American taxpayers to the Wall Street oligarchs that pull his strings.
While publicly denouncing a move towards a global currency yesterday, Obama has conversely announced that he will pursue a new world economic order, a “new global deal” in alliance with British Prime Minister Gordon Brown.
When we hear the terms “new world economic order,” and a “new global deal,” they are interchangeable with the agenda to create a new global currency. It’s all about taking more power and centralizing it into fewer hands and creating a de facto banking dictatorship that will have complete control over global currencies and exchange rate mechanisms.
Obama, Geithner and Bernanke are the three biggest culprits behind the destruction of the dollar and are culpable for creating the perfect storm for its replacement with a new global reserve currency – so for all three to claim yesterday that they support a strong dollar and oppose a global currency is like Bernie Madoff lecturing you that Ponzi schemes are immoral.
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47 Responses to “Obama Denounces Global Currency While Creating The Very Means For Its Introduction”
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March 25th, 2009 at 6:20 am
I would like to see also what role the previous presidents’ played in the economic collapse to better understand how the collapse has been engineered. In my opinion this was a very informing article, but it seemed to demonize the Obama regime and forgot io mention what the others before have done. I don’t understand very well how the collapse has been designed and need the information to spread the message, so if anyone can help inform me ASAP I would appreciate.
Thanks guys God Bless everybody everywhere.
GWBUSHPIG Reply:
March 25th, 2009 at 9:14 am
It isn’t rocket science.The role the previous government played was to initiate the so called $700 billion bailout which was constantly blowing out.Obama has just been passed the baton.
ConcernedHuman Reply:
March 25th, 2009 at 10:52 am
To better understand the confusion & corruption humanity is going through, it will be beneficial to read the Quran. Read it for yourself and make up your own mind.
Dont be manipulated.
AllahsQuran.com (read & listen to the Quran)
WhatsIslam.com (basics of Islam in audio introduction)
ShareIslam.com (learn about Islam)
ProphetOfIslam.com (who was MUHAMMED? peace be upon him)
BibleIslam.com (who was JESUS? peace be upon him)
IslamsWomen.com (70% of new muslims in the west are women, why?)
God also reveals many scientific facts in the Quran to prove over and over to its authenticity.
Some of the revelations are:
-Big-Bang
-Creation & Evolution of Life from Water
-Expanding Universe
-Atomic Structure
-Geological Formations
-Black Holes
-Astronomical Systems
-Black Matter
QuranMiracles.com (learn about the scientific revelations in Quran)
ScienceIslam.com (learn about the scientific revelations in Quran)
Remember; the oldest original written Quran, dated about 1400 years old, is at Istanbul Museum, Turkey, with many copies of it in the world including one in the British Museum. There are also upto 30 million people in the world who have memorized it whole, cover to cover, word by word by, letter by letter by heart. So it is easy to cross-check anything about Islam.
ChatIslam.com (join free online classes and ask about Islam)
Peace, mercy & blessings of God be upon you all.
KC In MS Reply:
March 25th, 2009 at 11:15 am
This repeated spam makes me wonder how the Quran would have read if Muhammad hadn’t used pages of the autoscript to wipe the sex sauce from his hog’s schlong after sessions of bestial homoerotic gratification.
ConcernedHuman Reply:
March 25th, 2009 at 12:03 pm
Thank you for your comment KC In MS.
I’m merely conveying a truth. Whether you;
Think it is not worth it, you are free to ignore it,
Think that it is not the truth, you are free not to think alike,
Afterall, life is a journer of choices.
Truth though can only arise if one steers away from ignorance and hate and sincerely desires and strives to gain knowledge.
Your life is your choice.
Whatever you choose, I wish you the very best in this and next life.
BB Reply:
March 25th, 2009 at 7:45 pm
I wipe my bum everyday with the Koran. Quit posting that crap.
ConcernedHuman Reply:
March 25th, 2009 at 8:28 pm
@ BB, ignorance & hate is no human virtue, but the invite to human calamity.
First time Reply:
March 25th, 2009 at 9:49 am
Although I believe there is some manipulation of markets systems and currency happening, I have a hard time believing that this is a coordinated move. I can believe that individual pockets of power mongers are manipulating the systems they are involved with but I don’t believe they’re a cohesive group with a world domination agenda. However, I will keep an open mind as I continue to educate myself. Take care to all.
rick Reply:
March 25th, 2009 at 10:09 am
watch obama deception, endgame, and you will see how the elite control the markets
al Reply:
March 25th, 2009 at 10:16 am
just when you think that you’re life has turned sunny,
you’re counting your money,
you’re tasting the honey,
just when you think you’re ahead of the game,
SOMEBODY CHANGES THE RULES.
Social Viability Reply:
March 25th, 2009 at 11:41 am
In a nutshell:
Woodrow Wilson played the most crucial part. He signed the Federal Reserve Act and gave the central bankers control over the money supply.
Richard Nixon played a devastating role by removing the gold standard.
And every president that signed off on budget legislation that was bloated with irresponsible, selfish, shortsighted spending (every one of them for the past several generations).
The reason Obama is rightly such a target is that he has encouraged and signed off on spending that increases the money supply to a degree that dwarfs all past treasonous devaluations of the dollar.
The more money is created to fuel this spending, the less the value of the US dollar. When people and nations realize the dollar has been printed into worthlessness, they will sell them off. That will collapse the dollar. And when the dollar collapses, the entire economy will go with it.
The presidents in any case merely march to the orders of those that benefit the most from the inflation of the US Dollar: the Federal Reserve.
Keep in mind: whenever money is created it starts out as an asset of the Federal Reserve. Imagine if you could print and lend money at will. You’d be very supportive of big-spending politicians, too.
The collapse is easy to create by the central bankers – just inflate until it pops – and when it pops they can swoop in and scoop all assets and real estate at rock-bottom prices. They have every means and every motive.
Don’t fight the system:
Replace it
http://socialviability.com/
Americancitizen Reply:
March 29th, 2009 at 9:25 am
Here’s your answer, Charles. Here is the role the previous presidents’ played in the economic collapse
“Obama’s liberal defenders, such as The Nation magazine, have spilled plenty of ink attempting to compare Obama to Roosevelt. They promote the illusion that the New Deal ended the Great Depression. In fact, it was World War Two and its destruction of much of the world’s economy—and at least 60 million lives—that ended the economic crisis. The real changes in social structure, moreover, came not from the political establishment, but through the mass actions of working class.”
Far from implementing a new reform agenda, Obama made clear on Tuesday that a massive attack on social programs was being readied to be implemented as soon as the bank bailouts are complete. He referred repeatedly to the high cost of healthcare and the need for “Entitlement reform”—i.e., the debts building up from the Wall Street handouts will be paid for through cuts in Medicare, Social Security, and other programs.
http://www.wsws.org/articles/2.....-m27.shtml
The return of Hoovervilles
March 25th, 2009 at 6:21 am
I would like to see also what role the previous presidents’ regime played in the economic collapse to better understand how the collapse has been engineered. In my opinion this was a very informing article, but it seemed to demonize the Obama regime and forgot io mention what the others before have done. I don’t understand very well how the collapse has been designed and need the information to spread the message, so if anyone can help inform me ASAP I would appreciate.
Thanks guys God Bless everybody everywhere.
March 25th, 2009 at 6:26 am
Say one thing and do something else.
Same as it ever was…same as it ever was…same as it ever was…
March 25th, 2009 at 6:45 am
Charles…..get the movie money masters. It is very informative and can explain what you are looking for. I believe that the movie has been referred to on this site as well.
March 25th, 2009 at 7:44 am
President Barack Obama affirmed support for the dollar at a press conference at the White House in Washington.
“I don’t believe there is the need for a global currency,” Obama said.
Treasury Secretary Timothy Geithner and Federal Reserve Chairman Ben S. Bernanke told lawmakers at a House Financial Services Committee hearing that they rejected such a move.
YOU SEE PEOPLE THIS WEB SITE IS NOTHING BUT LIES RUN BY A FEARMONGER FAT FUCK HAHAHAHAHAHAHAHA
ONLYME.... Reply:
March 25th, 2009 at 8:49 am
AND, LETS LOOK AT ALL OF OBAMA’S LIES BEFORE, HE WILL BE OPENED TO THIS LIE ALSO!!!! THE MAN LIES, HOW MANY PROMISES HAS HE KEPT SO FAR? WHAT MAKES YOU THINK THIS ONE IS THE TRUTH??? AND ALEX HAS NO FEAR OF THESE ELITE, HOW MANY PEOPLE WOULD STAND UP TO THESE ELITE AS HE DOES, I TRULY FEEL FOR YOU, WE HAVE NO FEAR, ONLY GRIT,AND BACKBONE, ALEX CARES FOR THE PEOPLE, HE IS ONLY TELLING IT AS IT IS, WHICH IS THE TRUTH, WHILE THE ELITE AND THEIR PUPPETS, ARE LIEING TO US, AS THEY ALWAYS HAVE, GOT IT!!!! WAKE UP
JAson Reply:
March 25th, 2009 at 9:14 am
i love the weird sh*t you cointelpro crazies come up with some days!! Keep up the lame work guys..
Rockclimber Reply:
March 25th, 2009 at 9:26 am
You can’t be serious. You actually believe them? Congratulations, you get my dumbfuck of the day award. Nice going. What’s your IQ, 70?
Mike in Michigan Reply:
March 25th, 2009 at 9:40 am
You must be new to the game. Slight of hand pal. It’s Obama’s job to stand before the cameras and say he’s doing this and that, all the while the worst is happening. I can’t wait to hear what he has to say when the dollar collapses to zero because of what he did to fix it.
March 25th, 2009 at 8:10 am
Did Hitler come into power by saying that he was going to start WWII and kill millions of people. They tell you what you want to hear, because most will not look any further.
Mike in Michigan Reply:
March 25th, 2009 at 9:36 am
That’s right. Hitler himself said if you tell outright lies people won’t believe it but if you tell half truths they’ll swallow it hook, line and sinker.
March 25th, 2009 at 8:43 am
“The watchword for the Obama administration is deception” Webster Tarpley.
March 25th, 2009 at 9:07 am
Oh who cares,there’s not a thing you can do about it!.
Just get gold,guns,groceries and lots of ammo.
ONLYME Reply:
March 25th, 2009 at 12:40 pm
THIS MAYBE SO, YET WE MUST SPEAK OUT, AND TELL OTHER THAT DO’NT KNOW ABOUT THIS, OR MAYBE THEY DO’NT UNDERSTAND, WE SPEAKING OUT, COULD HELP THEM, THAT DO’NT KNOW, OR DO’NT UNDERSTAND, THEN MAYBE HELP THEM TO UNDERSTAND TO GET GOLD, GUNS, GROCERIES AMD AMMO, TOGEATHER WE COULD HELP EACH OTHER. SO I SAY WE SHOULD CARE, TO HELP OTHERS TO WAKE UP ALSO.
March 25th, 2009 at 9:19 am
The 2009 bilderberg meeting will be in Athens (15/16th) of May!!!!
Spread the word!!!
March 25th, 2009 at 9:23 am
I just cannot stop laughing at the fools who voted for “the ONE”. ROFLMAO!! You suckas are the BIGGEST SUCKAS EVA! Thanks for the great laugh!
Yeah he’s “the ONE” alright, the ONE the bankers and gansters were looking for.
Good job OScuma voters!
Dave Reply:
March 26th, 2009 at 12:49 am
Come on, that’s no way to help someone who didn’t know enough to vote for Ron Paul. We’re in it together, so if someone voted for Obama (and the majority did), we’re all reaping what was sown. And besides, your audience is not here, they’re watching news on TV. And if they’re here, it’s because they know better now, and telling them to get bent when they come looking for advice is just no way of doing it.
March 25th, 2009 at 9:27 am
Kevin Rudd isn’t an economist and has just put Australia from being in credit into debit (by giving out a stimulus package which has no impact other than getting Australia into debt) just as his master wants.As Obama said Rudd and Brown agree.Of Course they agree, they are all part of the city of London, Washington DC and Rome which control most of the world.Go to youtube and watch “The secret rulers of the world”
http://www.youtube.com/watch?v=dWFfo0fMptc
March 25th, 2009 at 10:19 am
A NEW SITE TO HELP WAKE PEOPLE UP THAT ARE RESISITANT AND DON’T BELIEVE. ALL THE KEY CLIPS ARE THERE FOR THE TYRANNY! 911, FLOURIDE, ILLUMINATI, GOVERNMENT COVERUPS AND THE SPIRITUAL WAR. SEE HOW 2012 TIES INTO EVERYTHINg
WE ARE HEADING INTO THE MUCH PREDICTED 2012 END OF TIMES. IT IS A SPIRITUAL WAR. NOT TO WORRY, WE DO HAVE HELP FROM ABOVE FROM A BENEVOLENT FEDERATION OF PLANETS WHO ARE TRYING TO TURN THINGS AROUND. OUR GOVERNMENT IS LYING TO US THERE TOO! LEARN THE TRUTH ABOUT THE SPIRITUAL WAR!!! http://www.thegrandawakening.com
March 25th, 2009 at 11:07 am
shuck and jive.
March 25th, 2009 at 11:19 am
Lying. Lying. And lying. Let China and Russia bring “it” up. That’s the idea of the bad guys, not us. Insert the concept into the 68% mass. Global Currency, gee Ward, what is that? Later, uh, oh well maybe we have to do this. We just have no choice. But, it’s okay, ya’ll are used to the idea now. No shock. No resistance.
March 25th, 2009 at 11:25 am
stevequayle.com, center for global research and whatdoesitmean.com for newsy news. wow. hugs, just watchin
March 25th, 2009 at 12:16 pm
He also said that he was not going to ban guns, and had no intentions of doing any form of gun control, he even had Biden pop up and go, no one’s taking my guns.
Then the assault weapon ban…
I trust Obama as far as a 40 pound midget could throw him with one hand.
Everything the man says, he turns around and does the opposite of it… has anyone else noticed this pattern?
Dave Reply:
March 26th, 2009 at 12:53 am
Yes, this pattern is called Satanism. Don’t look into it.
March 25th, 2009 at 2:10 pm
sure he’ll blame the teleprompter, must’ve been a glitch,a glitch,a glitch
March 25th, 2009 at 2:57 pm
like the plague:”it matters not where from, but that it is here now.”
it might be gratifying to trace the roots of the death of this noble experiment. What concerns me is preventing said death. The past is only good for that present and future strugle. Conspiracy? no more than business is a conspiracy to get my money. Of course it wants money, but that does not mean its a UNITED conspiracy, all in the same playbook….get my drift? dont look for the lead mosquito. Spray the DDT!!!
March 25th, 2009 at 5:17 pm
The elite would be in favor of a world currency under one condition, they had total control over it and it’s printing. No way would they allow Russia and China to take the lead on a new global currency. There is so much power in the fact that “the world” uses your paper dollars as the backbone of money. And the Fed can just print off as much fiat paper as they deem necessary, hey such a deal! Trust me wars are started because country’s like Iraq wanted to buy oil in money other than the greenback. If Russia and China do adopt a new currency for themselves and say 10 other countries that go along with them , there will be another cold war, another iron curtain. But with all this being said, a couple more major screw ups by our banksters and the fed and nobody will want the dollar. Then America will be in deep kimchee.
March 25th, 2009 at 7:05 pm
Mr. Paul Joseph Watson
I have heard you are the moderator for the posts on PrisonPlanet website. Just to help me so I do not waste time typing a post. What is your criteria for removing a post? I am certain at least 2 of every 3 posts I type are removed. They post and I go back to read new posts and mine are gone.
I do not want to trouble you but I wonder if you could inform people on this site what you deem removable.
My last post was the possiblility the annoying ConcernedHuman being an Artificial Intelligent program. People were responding to the messages in negative ways and I thought wasteful.
Anyway any answer you could provide would help, then I would know what I should avoid and save time typing. Thank You! Hope this one might remain and get answered.
March 25th, 2009 at 7:34 pm
SEE ALL OF ALEX’S VIDEOS PLUS A WHOLE LOT MORE.
THERE IS ALSO A WAR ON FOR YOUR SOUL.
http://WWW.THEGRANDAWAKENING.COM
March 25th, 2009 at 7:47 pm
Impeach Obama and all the bastard wall street bankers he hired.
March 25th, 2009 at 7:57 pm
Excellent example of how Obama is such a fucking robot.
March 25th, 2009 at 10:23 pm
INTERNATIONAL BANKER TELL ALL!
HTTP://WWW.PLABU.COM
March 26th, 2009 at 3:12 am
The amerikan sheeple both ignorant & arrogant will now proceed over the cliff and into oblivion…they will notice”too late” the change…
March 26th, 2009 at 5:56 am
A NEW SITE TO HELP WAKE PEOPLE UP THAT ARE RESISITANT AND DON’T BELIEVE. ALL THE KEY CLIPS ARE THERE FOR THE TYRANNY! 911, FLOURIDE, ILLUMINATI, GOVERNMENT COVERUPS AND THE SPIRITUAL WAR. SEE HOW 2012 TIES INTO EVERYTHING!
http://www.thegrandawakening.com
WE ARE HEADING INTO THE MUCH PREDICTED 2012 END OF TIMES. IT IS A SPIRITUAL WAR. NOT TO WORRY, WE DO HAVE HELP FROM ABOVE FROM A BENEVOLENT FEDERATION OF PLANETS WHO ARE TRYING TO TURN THINGS AROUND. OUR GOVERNMENT IS LYING TO US THERE TOO! LEARN THE TRUTH ABOUT THE SPIRITUAL WAR!!! http://www.thegrandawakening.com
March 27th, 2009 at 1:59 am
Obama is playing his role very well… Of course they have to get away from the dollar, its actually worth nothing – because the banks and the govenrment are broke! Which they cannot say publicly so they create the means for the introduction.
March 29th, 2009 at 5:39 am
the koran was published by the devil,you need to read the bible only