Featured Stories World News Commentary Money Watch Multimedia Prison Planet U.S. News Science And Technology

The ‘Global Central Bank’ Pipe Dream

  • Print The Alex Jones Channel Alex Jones Show podcast Prison Planet TV Infowars.com Twitter Alex Jones' Facebook Infowars store

Daniel McDowell
World Politics Review

Last week, the United Nations Conference on Trade and Development (UNCTAD) issued a report calling for sweeping changes in the international financial and monetary order.

Arguing for a reduced role for the dollar, the report advocated for a global reserve bank with the power to issue its own currency, to monitor its members’ national exchange rates, and to prop up or push down their currencies. In other words, UNCTAD is making the case for a global central bank.

The U.N. is not alone in calling for such a move. Since the eruption of the global financial crisis last fall and the accompanying loss of confidence in the U.S. economy, Russia and China have each called for the creation of a global currency in order to facilitate a transition away from the dollar as the world’s primary reserve currency.

Setting aside the economics of the debate, what is the political feasibility of these proposals? History may help to answer this question.

The idea of creating a global central bank that can print its own currency is not new. In fact, the idea has come in and out of vogue several times since World War II.

The Global Central Bank Pipe Dream  290509banner

This article was posted: Monday, September 14, 2009 at 9:52 am





Infowars.com Videos:

Comment on this article

Comments are closed.

Watch the News

FEATURED VIDEOS
NSA Uses Secret Search Engine to Look Up Your Info See the rest on the Alex Jones YouTube channel.

MSM Buries CDC Scientist’s Confession About Vaccines & Autism Link See the rest on the Alex Jones YouTube channel.

© 2013 PrisonPlanet.com is a Free Speech Systems, LLC company. All rights reserved. Digital Millennium Copyright Act Notice.