Current And Former IMF Heads Call For New Global Currency

Global financial body wants complete overhaul as soon as possible

Steve Watson
Infowars.net
Tuesday, Nov 17, 2009

The head of the International Monetary Fund has once again called for a new global currency to replace the Dollar, adding that the momentum to instigate such a system is fading.

Dominique Strauss-Kahn told a forum on Tuesday that he wishes to see an emboldened IMF pave the way for the emergence of a global currency based on the monetary body’s special drawing right (SDR).

“That probably has to be a basket,” Strauss-Kahn said of the eventual replacement for the dollar. “In a globalized world there is no domestic solution,” he added.

The IMF head said that the world can no longer rely on a currency issued by a single country to ensure global financial stability.

Strauss-Kahn also said that China should re-value its currency in order to straighten out global economic distortions and imbalances.

Strauss-Kahn said that since the G20 summit in March, where agreements were made to reform the global monetary system, political willingness to carry out such an overhaul has waned.

Former IMF chief, Michel Camdessus, added that “time is of the essence” for global monetary reform. Camdessus said that he backs a shift of power to big emerging economies to act as a corollary of a strengthened role for the SDR.

“This favourable window of opportunity is there. It will not stay open forever,” Camdessus told the forum.

The IMF first touted the possibility of a new global currency in March. The issue was then debated at the G20 Summit in London just days later.

A clause in Point 19 of the communiqué issued by the G20 leaders led to analysts describing the dawn of a “revolution in the global financial order.”

“We have agreed to support a general SDR allocation which will inject $250bn (£170bn) into the world economy and increase global liquidity,” The clause stated.

SDRs are Special Drawing Rights, a synthetic paper currency issued by the International Monetary Fund that had lain dormant for half a century.

“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.” Ambrose Evans-Pritchard of the London Telegraph wrote at the time.

“The world is a step closer to a global currency, backed by a global central bank, running monetary policy for all humanity.” he added.

The same conclusion was drawn by the Washington Post’s Anthony Faiola, who described how the IMF is on course to be transformed into “a veritable United Nations for the global economy.”

The move has also been endorsed separately by the World Bank and the UN.

Alex Jones’ Prison Planet.com � Current And Former IMF Heads Call For New Global Currency

If you found this article interesting please subscribe for updates with any reader or your email. Also be sure to check out my soon to launch membership website TheStockman.ORG,

Bookmark & Share on ANY social site:

What the Inventor of the Flue Shot Thinks About the Vaccine

I was astonished last night when a friend asked if I was going to get the flu shot! Doesn't anyone look at the lack of data on efficacy of flu shots? Or the fact that our previous administration made vaccine manufacturers immune from prosecution no matter how many people they maim or kill with flu shots! The reason for this is that the damages might be greater than the profits so the vaccine manufacturers might be reluctant to do business. The last swine flu vaccine killed 300 times more people than the swine flu itself.

Doesn't anyone know there are no clinical trials done on these vaccines and they would never pass the FDA test for efficacy and could never be marketed as a new drug? Don't they know that the squalene in the flu shot m ay be responsible for the Gulf War Syndrome and that the mercury is hazardous and known to destroy nervous system tissue.

Does anyone read the news about Baxter, a leading manufacturer of these vaccines, when recently they "accidentally" released a huge amount of animal vaccine contaminated with a deadly form of avian flu virus that killed every test animal innoculated. Don't they know that this virus must be contained under the highest levels of security and violators usually go to jail (unless they are vaccine manufacturers)?

Doesn't that worry you? Well if that doesn't, listen to the experts on flu vaccinations.

“Dr. Anthony Morris, a distinguished virologist and former Chief Vaccine Office at the U.S. Federal Drug Administration (FDA), states that “There is no evidence that any influenza vaccine t hus far developed is effective in preventing or mitigating any attack of influenza” and that “The producers of these vaccines know they are worthless, but they go on selling them anyway.”

And in November 2007, the UK newspaper The Scotsman, made public warnings by the inventor of the “flu jab,” Dr. Graeme Laver.

Dr. Laver was a major Australian scientist involved in the invention of a flu vaccine, in addition to playing a leading scientific role in the discovery of anti-flu drugs. He went on record as saying the vaccine he helped to create was ineffective and [that] natural infection with the flu was safer. “I have never been impressed with its efficacy,” said Dr. Laver.” Read more ...

NYSE Arca Morning Update - 08:30:00 ET

NYSE Arca Morning Update for Tuesday, Nov 17, 2009 :

STOCKS TRADING ON NYSE Arca AT A PRICE 15% OR MORE AWAY FROM
THE PREVIOUS TRADE DAY'S CONSOLIDATED CLOSE PRICE (AS OF 08:30:00 ET)

Stock Monday's Close Current Price Pct Change Current NYSE ARCA Vol
TMI+ $4.00 $6.00 50.1% 32,600
ZOOM $7.98 $10.46 31.1% 4,087
SMTL $8.40 $10.95 30.3% 1,905,751
TMI $11.26 $13.70 21.7% 700
PSUN $5.02 $3.98 (20.7%) 101,176
ATHR $29.15 $23.98 (17.7%) 1,292

10 MOST ACTIVE STOCKS ON NYSE ARCA AS OF 08:30:00 ET

BASED ON DOLLARS TRADED: | BASED ON SHARES TRADED:
Stock $ Volume Price PctChg | Stock Share Vol Price PctChg
SPY $44,156,716 $110.86 ( 0.3%) | SMTL 1,905,751 $10.95 30.3%
SMTL $20,860,491 $10.95 30.3% | QQQQ 458,900 $44.29 ( 0.4%)
QQQQ $20,322,307 $44.29 ( 0.4%) | SPY 398,390 $110.86 ( 0.3%)
GLD $16,694,288 $111.00 ( 0.5%) | C 343,029 $4.16 ( 0.7%)
EEM $6,684,329 $41.65 ( 1.0%) | SPWRA 202,295 $23.91 (12.2%)
SPWRA $4,877,657 $23.91 (12.2%) | TZA 177,861 $11.51 1.3%
SDS $3,572,646 $36.05 0.7% | BAC 168,192 $15.82 ( 0.2%)
XOM $3,520,316 $74.82 0.6% | EEM 160,422 $41.65 ( 1.0%)
QLD $3,338,297 $55.67 ( 0.8%) | GLD 150,585 $111.00 ( 0.5%)
TGT $2,899,795 $50.63 0.7% | FAZ 139,729 $19.33 1.1%

Price changes may be affected by symbol splits and dividends.

Consolidated close price is the last print (excluding prints with trade
conditions) prior to 4PM ET.

This information is also updated on our web page every morning at 8:35ET:
http://www.tradearca.com/data/volume/daily_update.asp

This material is for informational purposes only.
NYSE Euronext and its affiliates ("NYSE Arca") are not soliciting any action based upon it.
This material is not to be construed as an offer to buy or sell any security in any jurisdiction where such an offer or solicitation would be illegal.
Any opinions expressed in this material are NYSE Arca opinions only.
NYSE Arca undertakes no obligation to update any of the information contained in this material in light of new information or future events.
THIS MATERIAL IS PROVIDED BY NYSE ARCA "AS IS" AND WITHOUT WARRANTIES EXPRESS OR IMPLIED.
NYSE ARCA DISCLAIMS ALL WARRANTIES INCLUDING THE IMPLIED WARRANTIES OF MERCHANTIBILITY, TITLE, AND FITNESS FOR A PARTICULAR PURPOSE AS TO THIS MATERIAL.
IN NO EVENT SHALL NYSE ARCA BE LIABLE FOR DIRECT, INDIRECT, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES OF ANY KIND WHATSOEVER (INCLUDING BUT NOT LIMITED TO, LOST PROFITS, TRADING LOSSES AND DAMAGES THAT MAY RESULT FROM THE USE
OF THIS MATERIAL, ANY DELAY OR INTERRUPTION OF SERVICE OR OMISSIONS OR INACCURACIES IN THE MATERIAL) WITH RESPECT TO THIS MATERIAL.

Copyright [2009] by NYSE Euronext. All rights reserved. Reproduction and redistribution prohibited without prior express consent.