UN Considers ONE WORLD CURRENCY!
Ron Ross
Bridges for Peace News
Email: ronrossbfp@hotmail.com
September, 2009
Oh No! Another Bible prophecy begins to surface!
This week (September 7, 2009) the UN Conference on Trade and Development (UNCTAD) has been about fixing the problems with the world monetary system. They are proposing a major overhaul for global currency. Their solution includes the demise of the US dollar and the introduction of a one-world currency.
This is not a new proposal. In the past China and Russia have called for the US dollar to be replaced as the world’s reserve currency. China owns a large portion of the US debt and is being increasingly assertive particularly promoting an overhaul to address the world financial crisis.
As early as March, 2009 China central bank governor Zhou Xiaochuan took the offensive and issued a paper calling for an economic revolution.
Premier Wen Jiabao has expressed his concern that China holds significant amounts of U.S. government bonds, while banks in China have suffered because of the global economic downturn. This situation created a firm drop in demand for Chinese exports, he said.
China and Russia have spearheaded a group determined to break with dependence on the dollar. They are supported by India and Brazil. The G20 meeting gave their submissions serious consideration.
"Replacing the dollar with an artificial currency would solve some of the problems related to the potential of countries running large deficits and would help stability," said Detlef Kotte, one of the report's authors.
These thoughts are not merely coming from sources outside the USA.
Earlier this year Jeffrey D. Sachs, director of the Earth Institute of Columbia University said, ‘The US dollar cannot and should not take all the responsibility for the world monetary system. We need a stable and serious transition to new international monetary regime.” He went on to warn ‘the dollar will gradually depreciate by 20 to 25 per cent to rebalance the world system overtime.”
President Obama and US Treasury Secretary Timothy Geithner were part of the G20 talks. Last March Geithner indicated support for the China plan and his comments caused an immediate crash in the dollar’s value.
Cheng Siwei, head of China’s energy drive is concerned about the US economy. “If they (US) keep printing money to buy bonds it will lead to inflation, and after a year or two the dollar will fall hard.” He said China will begin to diversify into ‘euros, yen and other currencies.’ China holds the world’s largest reserves, $2 trillion.
Some prefer to look away and think of other concerns but I am reminded that it was not so long ago ‘experts’ suggested the introduction of the euro was ‘a pipedream.’
It is worth reading Daniel 7: 16-24 and Revelation 13 to catch up on the headlines.
And by the way, US Defence Secretary Robert Gates has advised the Middle East nations to upgrade their military strength and their arsenal of weapons so they can effectively cope with the mounting Iranian crisis. He suggested such an effort might deter Iranian nuclear ambitions.
I received this report September 9: “Iran has or is near to having “sufficient low-enriched uranium to produce one nuclear weapon if the decision were made to further enrich it to weapons grade,” U.S. envoy to the International Atomic Energy Agency (IAEA) Glyn Davies said Sept. 9, Davies, speaking at an IAEA board meeting, said Iran is moving “closer to a dangerous and destabilizing possible breakout capability.”
To say the least the IAEA exercise has been one mounted by confusion and double-talk. Predictions of a nuclear Iran by so-called experts have been from next year to 2014.
Israel has consistently warned of a nuclear ready Iran early 2010. It was not insignificant Israel Prime Minister Benjamin Netanyahu met in Moscow this week to discuss the Russian weapons connection with Tehran.
His trip was bathed in secrecy but be assured it had a very serious purpose.
We should be preparing for a future of biblical proportions.
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Three years ago he joined Bridges for Peace in Jerusalem to establish international radio news and an audio service webcast at www.bridgesforpeace.com Ron was Sports Editor of WINTV for 20 years before joining the full-time missions. You can contact Ron at : ronrossbfp@hotmail.com |
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