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U.S. Backing for World Currency Stuns Markets
The Micro Effect ^ | 03/11/2011 | Staff Writers

Posted on 03/12/2011 12:12:53 PM PST by ex-Texan

US Treasury Secretary Tim Geithner shocked global markets by revealing that Washington is “quite open” to Chinese proposals for the gradual development of a global reserve currency run by the International Monetary Fund.

The dollar plunged instantly against the euro, yen, and sterling as the comments flashed across trading screens. David Bloom, currency chief at HSBC, said the apparent policy shift amounts to an earthquake in geo-finance.

“The mere fact that the US Treasury Secretary is even entertaining thoughts that the dollar may cease being the anchor of the global monetary system has caused consternation,” he said.

Mr Geithner later qualified his remarks, insisting that the dollar would remain the “world’s dominant reserve currency … for a long period of time” but the seeds of doubt have been sown.

The markets appear baffled by the confused statements emanating from Washington. President Barack Obama told a new conference hours earlier that there was no threat to the reserve status of the dollar.

“I don’t believe that there is a need for a global currency. 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,” he said.


TOPICS: Business/Economy; Crime/Corruption; Front Page News; Government
KEYWORDS: 2committreason; 2killamerica; bastards; bho44; bo; bo44; dollar; economy; fed; geithner; howmanymoretimes; march2011; newworldorder; noaccountability; notaxes4dnc; notaxes4geithner; notaxes4rangel; nwo; obama; traitor; treason; us; worldcurrency
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To: Quix

If it is someone’s plan to do something to the New Madrid fault line, it won’t be done now. They don’t have their i-35 superhighway in place. Trans-Texas Corridor ain’t there, that’s a necessary part of the plan if they are going to do something with New Madrid.


101 posted on 03/12/2011 2:35:26 PM PST by Secret Agent Man (I'd like to tell you, but then I'd have to kill you.)
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To: DakotaGator

I think that is a no brainer opinion.


102 posted on 03/12/2011 2:35:56 PM PST by Dubya-M-DeesWent2SyriaStupid! (Obama:If They Bring a Knife to the Fight, We Bring a Gun (the REAL Arizona instigator))
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To: rfp1234
Click at Your Own Peril . . . LOL !
103 posted on 03/12/2011 2:39:24 PM PST by ex-Texan (Ecclesiastes 5:10 - 20)
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To: Quix

“The Japan Quake is hardly the warm-up. It may be the muffled warm-up to the warm-up.

There are claims, of course, that it was a deliberate exotic weapon triggered quake by the same folks bringing us the world currency . . . and that the New Madrid area will be their next target. We shall see.

Regardless . . . the pace of changes and the dramatic nature of the destructive traumas are all increasing.

Folks willfully blind to what’s going on will increasingly be caught with more than their pants down.”

Um....ok?

So what was the Earthquake and tidal wave in 2004 then? Or how about that thing called WW2? Or the mass genocide of peoples in the western hemisphere due to plague and conquest in the 16th century?

The Black Death?

Malaria?

The destruction of Lisbon due to a tidal wave/earthquake in the 1700s?

Or is it that 24 hour news brings every disaster so quickly to you that you just buy that it all just unique to now?


104 posted on 03/12/2011 2:41:18 PM PST by VanDeKoik (1 million in stimulus dollars paid for this tagline!)
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To: Toddsterpatriot; Captain Peter Blood; ex-Texan; the invisib1e hand; UCANSEE2; TopQuark
While we're sharing information about the Federal Reserve.

Look at page 12 of 'Purposes and Functions": "Member banks must subscribe to stock in their regional Federal Reserve Bank in an amount equal to 6 percent of their capital and surplus, half of which must be paid in while the other half is subject to call by the Board of Governors. [i.e. remains on the various banks balance sheets]
...
Member banks receive a 6 percent dividend annually on their stock, as specified by law, ... Stock in Federal Reserve Banks is not available for purchase by individuals or entities other than member banks." [I particularly like that guarantee by law of 6% interest part]

The money paid to the treasury is after the above mentioned 6% and 'operating expenses'.

The Federal Reserve is the embodiment of Marx's plank #5, in that it has a monopoly over credit.
105 posted on 03/12/2011 2:42:19 PM PST by algernonpj (He who pays the piper . . .)
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To: Dubya-M-DeesWent2SyriaStupid!
Post links to prove there is no foreign influence in our currency, reserve or government.

Contrary to what your teachers told you in school, links do not constitute the main source of education, nor are they arbiters of truth.

Moreover, your request is totally illogical. Suppose I asked you, "Post links to prove there is no Martian influence in our... government." Could you find such links (or books, for that matter)? I am pretty confident such links don't exist.

Your main mistake is in being hung up on "influence." The CEO of a company has a tremendous influence on the company (s)he leads. Even more: (s)he benefits personally whenever the company is doing well. So what?

What you --- and I and every American --- should be concerned with is whether there is influence that is contrary to the stated objectives. The CEO becomes a krook not when he exerts influence on the company but when he does so to the detriment of the shareholders. There is nothing wrong with any shareholder of the Citi, even the Arab sheik, to influence the bank towards greater profits. It becomes a problem only if he were to try to do so to the detriment of the rest of the shareholders or our national laws.

And that is where your "theory" falls apart. To do something against our country, the sheik would have to enter into a massive conspiracy with Americans that own and manage the Citi. In this country, it is difficult to create a successful conspiracy of half a dozen people: someone always blows a whistle --- to promote his own interests, if nothing else. What you believe in --- conspiracy by the banks and the Fed --- requires not just half a dozen people but thousands of people (in fact, different generations of people), and you assume that such a conspiracy remains undetected for decades. No offense, but this is utterly silly.

Public finance is a complicated issue. The banking system and its relationships with the government and business is a complicated issues. Studying it requires diligence and time. If you are interested pursue that path.

But it is a mistake to assume that one can understand economics by browsing the Web. You would probably laugh at me if I suggested that someone can learn higher mathematics, theoretical physics or engineering by browsing the Web. The thought that someone can learn economics from links is equally laughable.

106 posted on 03/12/2011 2:44:21 PM PST by TopQuark
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To: ex-Texan

Do we need anymore proof?


107 posted on 03/12/2011 2:46:45 PM PST by surfer (To err is human, to really foul things up takes a Democrat, don't expect the GOP to have the answer!)
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To: algernonpj
I guess, your quotes put to rest the issue of ownership. The jump to
The Federal Reserve is the embodiment of Marx's plank #5
appears to be a leap of faith. Please explicate the connection.
108 posted on 03/12/2011 2:47:43 PM PST by TopQuark
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To: ex-Texan; Ernest_at_the_Beach

Truly a bad news story. They sure are showing their real deck of cards.


109 posted on 03/12/2011 2:47:49 PM PST by Marine_Uncle (Honor must be earned....Duncan Hunter Sr. for POTUS.)
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To: DannyTN

ping


110 posted on 03/12/2011 2:48:37 PM PST by surfer (To err is human, to really foul things up takes a Democrat, don't expect the GOP to have the answer!)
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To: reasonisfaith

ping


111 posted on 03/12/2011 2:51:11 PM PST by surfer (To err is human, to really foul things up takes a Democrat, don't expect the GOP to have the answer!)
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To: ex-Texan

)#*&^(@&%_+@#**_)(_#@^%)(&$#_)(&_!(^@)*_(&_)(&%, you, Obama Crew!!!!


112 posted on 03/12/2011 2:55:23 PM PST by bannie (( ))
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To: LucyT

It’s not 0bama’s plan. It’s Soros & cabal’s.


113 posted on 03/12/2011 2:56:33 PM PST by combat_boots (The Lion of Judah cometh. Hallelujah. Gloria Patri, Filio et Spiritui Sancto.)
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To: ex-Texan

At this official page of the unity in diversity world currency
there used to be an article that Obama received the coin.

http://www.futureworldcurrency.com/Default.asp

As well as some Maitreya (weirdo anti christ creep) that calls himself the savior coins the same phrase (Share International is of the U.N.)

http://www.share-international.org/master/2006/ma_may06.htm

Also: didn’t Obama use the phrase unity in diversity?


114 posted on 03/12/2011 3:01:52 PM PST by Dubya-M-DeesWent2SyriaStupid! (Obama:If They Bring a Knife to the Fight, We Bring a Gun (the REAL Arizona instigator))
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To: UCANSEE2

Well, let’s cut it loose.


115 posted on 03/12/2011 3:02:27 PM PST by little jeremiah (Courage is not simply one of the virtues, but the form of every virtue at the testing point. CSLewis)
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To: TopQuark

Can you refer me to an investment where I can invest 6% of my assets and get a guaranteed 6% return on my investment while I am still holding onto and 1/2 of that investment?


116 posted on 03/12/2011 3:07:29 PM PST by algernonpj (He who pays the piper . . .)
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To: TopQuark
This meeting cannot possibly influence the federal reserve, currency or banks < / sarcasm >

Federal Reserve Chairman Ben Bernanke leaving the 2008 Bilderberg Conference

http://en.wikipedia.org/wiki/Bilderberg_Group#Participants

117 posted on 03/12/2011 3:09:43 PM PST by Dubya-M-DeesWent2SyriaStupid! (Obama:If They Bring a Knife to the Fight, We Bring a Gun (the REAL Arizona instigator))
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To: Dubya-M-DeesWent2SyriaStupid!
If there is no foreign influence in our reserve/currency/government than why do they even bother to have the top secret buildaburger world meetings?

You, I and the rest of FReepers come frequently to this forum to dicsuss current events. We share great many beliefs, one of which is that the current administration is ruining this country. Is there a conspiracy against the country? Of course not. If someone suggested that FReepers conspire you'd laugh that person in the face.

Almost every little town has a chamber of commerce. Business people frequently get together to discuss current events and common problems they face. Do they conspire or do something illegal? Of course not. If someone suggested that hundreds of thousands of small-business owners conspire against the American people, you'd laugh. And you would be right: that suggestion is stupid.

In great many universities, faculty members have a "retreat" once a year or so. The informal format and the setting of such retreats makes it sometimes more productive to discuss thorny issues (people are not as confrontational and listen better). Is there conspiracy against the student? Of course not. You'd laugh if I suggested that.

What's the point here. The point is that people may have common interests and even beliefs, but just because they sit in the same room from time to time does not mean that they conspire against anyone.

Since I am not a member, I cannot tell you what specifically people say at the meetings to which you refer. But I am not surprised that national leaders get together to discuss and exchange their common concerns. The mere fact that they have those meetings do not constitute a conspiracy.

[ And, once again, ask yourself: if there were such a conspiracy, lasting for decades now, wouldn't at least one Frenchmen squeal on the German, at least one American squeal on the French, etc. ? No, such massive conspiracies do not go undetected for decades. ]

A short answer to your question: people, including business and government leaders, get together because they have common interests.

What I wrote here does not mean that you and I should not be concerned. There is indeed a push towards the "world without borders. But it is not perpetrated by any government or secret society. It occurs in the open. It has been ongoing since 1890s. Wilson dreamed of "one-world government" and created the League of Nations, the precursor to the present United Nations. When Nazis were arming Germany in the 1930s, French teachers were taking their student to see the movies denouncing any criticism of Germany and promoting "world without borders." These where school teachers, not Bittberg group, not governments. Teachers just like that are brainwashing our children today.

You and I should be very concerned. But we should also know who our enemies are. Wall Street, CEOs and the Fed are not the enemies: commie propaganda is.

118 posted on 03/12/2011 3:10:02 PM PST by TopQuark
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To: 1_Of_We
i.e. are you claiming that ‘member’ = ‘owner’?

Yes. To be a member bank, you must buy stock equal to a certain percentage of your capital.

119 posted on 03/12/2011 3:13:51 PM PST by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: Dubya-M-DeesWent2SyriaStupid!
This meeting cannot possibly influence the federal reserve, currency or banks

Once again. The information you provide and out discussion does influence me. Books I read influence me. Movies I see influence me. My professors influence me.

The question, as I explained in the previous post, is not whether someone influence me but whether one tries to manipulate me.

Bernanke, as any human being, is influenced by every conversation he has, by books he reads, by his wife. That is not what YOU are taking about: you assume that the influence is manipulation, that it is detrimental to the interests of the Ameican people. These are two different things. Think about that.

120 posted on 03/12/2011 3:14:10 PM PST by TopQuark
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