noworldsystem.com


Copenhagen Treaty Creates Global Government Tax

Copenhagen Treaty Creates Global Government Tax

Paul Joseph Watson
Prison Planet.com
December 9, 2009

Lord Christopher Monckton warns that the secretive draft version of the Copenhagen climate change treaty represents a global government power grab on an “unimaginable scale,” and mandates the creation of 700 new bureaucracies as well as a colossal raft of new taxes including 2 percent levies on both GDP and every international financial transaction.

Speaking with The Alex Jones Show, Monckton, who is in Copenhagen attending the UN climate summit, said that when he attempted to obtain a copy of the current draft of the negotiating text agreement, he was initially rebuffed before he threatened an international diplomatic incident unless the document was forthcoming.

“I insisted and it took about 10 minutes and they consulted each other with three or four of them arguing over it – none of them would produce the document….I said I know this treaty exists because this is what the conference is all about,” said Monckton.

Only after Monckton threatened repercussions was he handed the the current draft of the treaty, and the details it contained are perhaps a clue as to why the UN officials were so keen to keep it under wraps.

“Once again they are desperately trying to conceal from everybody here the magnitude of what they’re attempting to do – they really are attempting to set up a world government,” said Monckton, adding that the word “government” was no longer used but the process of further centralization of power into global hands was clearly spelled out in the treaty.

Monckton said that the new world government outlined in the treaty would be handed powers to, “Tax the American economy to the extent of 2 percent GDP, to impose a further tax of 2 percent on every financial transaction….and to close down effectively the economies of the west, transfer your jobs to third world countries – all of that is still in the treaty draft.”

As the leaked document out of Copenhagen reported on by the London Guardian revealed yesterday, this massive new system of global taxation will be paid not to the UN, but directly into the coffers of the World Bank.

“The draft hands effective control of climate change finance to the World Bank; would abandon the Kyoto protocol – the only legally binding treaty that the world has on emissions reductions; and would make any money to help poor countries adapt to climate change dependent on them taking a range of actions,” reported the Guardian.

Monckton illustrated the size of the new taxes being proposed by noting they amounted to at least half of the entire US defense budget.

“This is how they are going to fund this vast new government they’re setting up,” said Monckton, adding that he counted around 700 new bureaucracies that would be created as a result of the treaty, which would be bankrolled by taxpayers even outside of the raft of new taxes the treaty would create.

Monckton outlined how the new taxes would be enforced, stating, “They’re going to auction allowances to emit greenhouse gases and if you don’t buy an allowance to emit greenhouse gases, you won’t be allowed to emit them,” adding that the text contained a provision for a “uniform global levy of $2 dollars per ton of CO2 for all fossil fuel emissions,” as well as an additional tax on every commercial plane journey, except ones that go in or out of poorer countries.

There would also be a “global levy on international monetary transactions – that means every transfer of money across borders will be taxed,” said Monckton, adding that this would be on top of the GDP tax.

 

Lord Monckton: Obama may sign a “Copenhagen Agreement” instead of Treaty

LifeSiteNews
December 9, 2009

In a brief video released on the Internet, Lord Christopher Monkton is seen giving a speech today in Copenhagen warning that President Obama will try to use his Executive Authority to sign an agreement, rather than a treaty, to commit the United States to undertake measures against climate change that will seriously damage the freedoms and prosperity of America.

Monkton states, “President Obama is going to come here (Copenhagen) and sign the Copenhagen Agreement.” He says it’s no longer being called a treaty specifically because US Senators “know they can’t get a treaty through the US Senate.” Monkton continues explaining, “so, President Obama is going to sign this agreement by his executive authority and he will then put it through both houses of Congress by a vote of simple majority.”

Monkton states that this executive agreement will stand “with almost the same force as a treaty” under the US Constitution. The one large difference, Monkton however notes, is that an Executive Agreement can be repealed by a following president, but a treaty cannot be repealed. Therefore, The British Lord and science adviser to former British Prime Minister Margaret Thatcher noted, “one power that President Obama does not have is to commit the United States unilaterally to measures of a scale and horror envisaged in this treaty or agreement…”

The recent “climategate” revelations provided the basis for especially condemning closing comments from the internationally famous climate sceptic and campaigner against climate hysteria.

Monkton emphasized, “there is no longer any basis whatsoever for saying that any action is required over the climate. We have seen now in the climategate that a couple of dozen bad and extremely malevolent and unpleasant scientists – this clique, this cabal, this conspiracy, because that is what it is, have tried to bend, fiddle and fudge the data, year after year and they’ve now been caught and exposed by the activities of one gallant whistleblower at this very moment when we now know that the climate fraud is the fraud that we all expected it to be.”

Monckton concluded with a warning that the president, “either unaware or aware and uncaring wishes to sign” American “freedom and prosperity away.”

See Lord Monkton’s detailed, one hour, fascinating expose of climate change

Also see Lord Monkton interview on Michael Coren television program

UK’s richest man could make more than £1bn from carbon trading scheme

Abbott warns of $400bn tax bill under draft Copenhagen agreement

 



Soros: Decline of the Dollar is Acceptable

Soros: “An Orderly Decline of the U.S. Dollar is Acceptable”
Billionaire globalist says China must be more subservient to the IMF’s New World Order, warns Americans that it would be unwise to resist a new world currency

Paul Joseph Watson
Prison Planet.com
October 28, 2009

Billionaire globalist George Soros told the Financial Times during an interview that China will supplant the United States as the leader of the new world order and that America should not resist the country’s decline as the dollar weakens, living standards drop, and a new global currency is introduced.

Asked what Obama should discuss when he visits China next month, Soros stated, “This would be the time because I think you really need to bring China into the creation of a new world order, financial world order,” adding that China was a reluctant member of the IMF who didn’t make enough of a contribution.

“I think you need a new world order that China has to be part of the process of creating it and they have to buy in, they have to own it in the same way as the United States owns…the current order,” said Soros, adding that the G20 was a move in this direction.

Soros said that there was a flight from currencies across the board, and that this is why the price of commodities, notably gold and oil, were generally rising. He also stated that an orderly decline of the dollar was “desirable” and that the entire system needed to be reconstituted towards a global currency.

“You need a new currency system and actually the Special Drawing Rights do give you the makings of a system and I think it’s ill-considered on the part of the United States to resist the wider use of Special Drawing Rights, they could be very useful now when you have a global shortfall of demand, you could actually internationally create currency through Special Drawing Rights,” said Soros, explaining that this was already in process after the IMF injected an allocation of Special Drawing Rights (SDRs) equivalent to $250 billion into the global economy.

Soros also stated that richer countries were already transferring wealth to poorer countries via SDR’s, with the IMF paying for the half per cent transaction cost.

Soros said the world would have to go through a “painful adjustment” following the decline of the dollar and the introduction of a global currency. Reading between the lines, he essentially threatened to kill the dollar completely if the United States did not get on board with the global currency.

Soros predicted that China would become the new engine of the global economy, replacing the U.S., and that this would slow economic growth and reduce living standards. Soros characterized the United States as a drag on the global economy because of the declining dollar.

Watch the video interview below.

http://www.youtube.com/watch?v=TOjckJWqb0A

 



G20 Elite Plan African Union Controlled by the IMF

G20 Elite Plan African Union Controlled by the IMF

The Corbett Report
November 11, 2009


Daniel Estulin

In an exclusive interview with The Corbett Report earlier today, Daniel Estulin revealed the behind-the-scenes details of last week’s G20 Finance Minister’s meeting in St. Andrews, Scotland. Many of these details come from actual G20 documents that his sources were able to sneak out of the meetings in spite of security measures which, Estulin notes, were unprecedented “even by Bilderberg standards.” These documents, which contain valuable information about the conference, are available at BilderbergBook.com and have been mirrored on The Corbett Report homepage. They were smuggled out at great personal risk and need to be disseminated widely.

The key issue discussed at the meeting, according to Estulin, was “the next step in globalization, which is the creation of the African Union.” This is part of an unfolding agenda of the ceding of national sovereignty to unnacountable regional governments which can more easily administer and implement the aims of the financial oligarchs. One of these aims is the elite’s exhaustively documented penchant for population reduction, including tying development aid to population control problems. “The creation of the borderless African continent will be spearheaded by the IMF.”

One of the smuggled documents shows that an attendee had the IMF articles of agreement at the meeting and highlighted the fact that funds were made available “under adequate safeguards” to member nations. This is code speak for imposing draconian measures designed to plunge countries into virtual servitude, with the result that in Africa, countries spend five times more revenue on servicing their IMF debts than they do on health care for their own citizens.

Watch an excerpt of the interview in the video below:

http://www.youtube.com/watch?v=YPvtj5AZ4Ns

The meeting’s attendees, also identified in the smuggled documents, reads like a who’s who of the financial oligarchical elite, including leading Bilderbergers such as U.S. Treasury Secretary Timothy Geithner, Federal Reserve Chairman Ben Bernanke, World Bank President Bob Zoellick, Turkish Finance Minister Ali Babacan and British Finance Minister Alistair Darling and many others. The Trilateral Commission was also represented at the conference by Japanese members Yoshihiko Noda and Masaaki Shirakawa.

In the interview, Estulin discusses the G20’s debate on dumping the U.S. dollar which he first revealed would be on the meeting’s agenda in a press release last week. He indicates that the matter, although discussed, was rejected . “The American and the British delegations tried to persuade the Russian and the Chinese delegates to devalue the dollar and create a basket of currencies or another world currency to take the place of the dollar,” he said. “Luckily, both the Russians and the Chinese told the Americans and the British to go pound sand. They were not willing to do this.”

The idea that the Western financial oligarchs are aiming to dump the U.S. dollar is in line with recent reports that Goldman Sachs (whose members are suspiciously well connected to the upper echelons of the U.S. Treasury) actually took up positions to short the housing market right before the crash. Although a pre-meditated attempt to bring about a financial collapse would appear not to be in the financial oligarch’s self-interest, it makes perfect sense when one considers this as a problem-reaction-solution operation of creating a problem in order to get the public to support a pre-determined solution. In this case, the endgame has always been to use a financial collapse to usher in a New World Order. Now, exactly as precicted, everyone from Kissinger to Soros is using the economic collapse to call for a new financial order of greater international (read: unelected, undemocratic and unaccountable) control over world financial markets. Indeed, just as the G20 was wrapping up, talking heads like Damon Vickers were starting to insert talking points about a new global currency and a “New World Order” onto CNBC. Although it is good news that the dumping of the dollar failed to gain traction at this meeting, it by no means insures that this disastrous move will not continue to be pursued by the influential globalist financiers.

On a positive note, Canadian Finance Minister Jim Flaherty made a show of standing up for the people of the planet by noting that “the recent public policy of privatizing profits and socializing losses is unacceptable to taxpayers,” to which someone responded “Do you think they have noticed?” The response provoked laughter from the assembled oligarchs. Mr. Estulin has a message for the G20 oligarchs: “Gentlemen of the G20, in case you’re wondering: Yes, we the great unwashed have definitely noticed.”

Listen to the full interview by clicking here

Bilderberg Elite Plan Economic Depression

U.S. Gives Up Economic Independence to the IMF

World Bank and IMF Join Global Attack on U.S. Dollar

U.S. Dollar Will No Longer Be World Reserve Currency

Bilderbergers Want Global Currency Now

Obama at G20: Time Has Come For A New World Order

 



Climate Treaty Will Create World Government Dictatorship

Climate Treaty Will Create World Government Dictatorship
and Distribute Wealth From Developed Countries to 3rd World Nations

NoWorldSystem.com
October 20, 2009

The Conference of the Parties (COP) to the United Nations will hold their 15th conference on climate change through December 7-18th. At the conference, globalists like Obama will sign the ‘Copenhagen Climate Change Treaty’ that will replace the Kyoto treaty that is set to expire in 2012.

Lord Christopher Monckton, the man who warned many this week of the treaty appeared on Glenn Beck’s radio program, he makes it clear that the treaty will create a World Government Dictatorship that will have complete authority over all nations by intervening in the economy and environment of any individual country in the world without consent. The treaty will also allow the distribution of wealth from developed countries like the U.S. to Third World Countries like Africa, in other words; taxpayer-funded socialist welfare!

The reason why many believe Obama will sign this new global treaty is because Obama has supported global tax legislation in the past which would have given $845 billion of foreign aid to Third World Countries to satisfy the United Nations’ goal of reducing poverty by 2015.

Here’s what the Copenhagen treaty draft says about the distribution of wealth:

17. [[Developed [and developing] countries] [Developed and developing country Parties] [All Parties] [shall] [should]:]
(a) Compensate for damage to the Lesser Developed Countries’ economy and also compensate for lost opportunities, resources, lives, land and dignity, as many will become environmental refugees;
(b) Africa, in the context of environmental justice, should be equitably compensated for environmental, social and economic losses arising from the implementation of response measures.

Meanwhile globalists like Brown are using fear of impending doom saying if the Copenhagen treaty is not passed that man-made Global Warming will do permanent damage to the globe.: “We must make history.” “If we do not reach a deal at this time, let us be in no doubt: once the damage from unchecked emissions growth is done, no retrospective global agreement in some future period can undo that choice. By then it will be irretrievably too late. So we should never allow ourselves to lose sight of the catastrophe we face if present warming trends continue.”

Al Gore has said, ”This treaty must be negotiated this year. Not next year. This year.”

The creation of a New World Order has been in the works for decades, technically America is already under the thumb of World Government in more ways than one. To understand what is about to take place in America we have to understand that Agenda 21 is the blueprint for a New World Order of the 21st century.

Agenda 21 is a comprehensive plan of action to be taken globally, nationally and locally by organizations of the United Nations System, Governments, and Major Groups in every area in which humans exist.

You can read the entire UN document here.

Excerpt: “Effective execution of Agenda 21 will require a profound reorientation of all human society, unlike anything the world has ever experienced a major shift in the priorities of both governments and individuals and an unprecedented redeployment of human and financial resources. This shift will demand that a concern for the environmental consequences of every human action be integrated into individual and collective decision-making at every level.”

According to Agenda 21 the future the globalists would like to have is a world full of conservation of wildlife, but complete bureaucratic rule over all aspects of human life where essentially humans are treated like dirt and everything we do will be subjected to inventory. When you think about the phrase ‘New World Order’ just think about mass de-population of mankind, the total enslavement of man, forcing humans into compact cities surrounded by protected wildlife where he is prohibited from entering, a socialist distribution of wealth, the complete control of all governments wealth and power in the hands of a few oligarchical dictators in the United Nations. It all sounds like a movie straight out of Hollywood, but the reality is globalists are moving forward at an exponential rate this year and pushing this treaty on America would mean complete servitude to the United Nations.
Last updated by infolution on October 20, 2009 at 9:01pm PST

Agenda 21: The Death Knell of Liberty

Global Warming Scandals; Plus Extortion for ‘Dignity’

TAKE ACTION: Sign Petition Opposing Cap-and-Trade

The Copenhagen Climate Change Treaty Draft

The Second Battle of Copenhagen

Thatcher adviser: Copenhagen goal is 1-world government

Obama Will Surrender America To World Government

 



Russia, Iran And Latin America Admit Talks of Dumping Dollar

Russia and Iran Now OFFICIALLY Talking of Dumping Dollar for International Trade

Washington’s Blog
October 18, 2009

After the Independent reported that Middle Eastern oil producers, plus China, Japan and France have all agreed to start trading oil using a basket of currencies – instead of the dollar – starting in 9 years, spokesmen for those governments denied it.

The Independent’s reporter explained why the governments were denying the rumor.

But now the governments themselves are starting to admit that they are switching out of the dollar.

For example, Russian Prime Minister Vladimir Putin said Wednesday that Russia is ready to consider using the Russian and Chinese national currencies instead of the dollar in bilateral oil and gas dealings. As Russia’s newspaper RIA Novosti writes:

Russia is ready to consider using the Russian and Chinese national currencies instead of the dollar in bilateral oil and gas dealings, Prime Minister Vladimir Putin said on Wednesday.

The premier, currently on a visit to Beijing, said a final decision on the issue can only be made after a thorough expert analysis.

“Yesterday, energy companies, in particular Gazprom, raised the question of using the national currency. We are ready to examine the possibility of selling energy resources for rubles, but our Chinese partners need rubles for that. We are also ready to sell for yuans,” Putin said.

And Iran’s Press TV reports that Iran wants to completely drop the dollar from its foreign exchange:

Since October 2007, Iran has received 85 percent of its oil revenues in currencies other than the US dollar and Tehran is determined to find a substitute for the US dollar for the rest of its 15 percent of oil revenues, the report added.

This story is confirmed by the Tehran Times, which notes:

As I have repeatedly noted, many countries have been moving out of the dollar for years. The process is simply accelerating.

In line with this plan, Iran has informed Japan that it should use the yen instead of dollars to pay for the oil it buys from the Islamic Republic.

In addition, Iran has decided to open a bourse for oil and gas transactions in currencies other than the U.S. dollar, especially the euro.

 

Latin America plans US dollar replacement

Press TV
October 17, 2009

Leftist Latin American leaders have agreed on using a new intra- regional trading currency, dubbed as Sucre, instead of the US dollar.

Bolivian President Evo Morales, who hosted leaders of the Bolivarian Alternative for Latin America and the Caribbean (ALBA), said that the “document is approved.”

During the seventh ALBA summit, the leaders agreed on the currency reform as well as approving plans to impose economic sanctions against the coup leaders in Honduras, AFP reported.

The currency, Sucre, is named after Jose Antonio de Sucre who fought for Spain’s independence alongside Venezuelan hero Simon Bolivar in the early 19th century.

Sucre is scheduled to be rolled out in 2010 in a non-paper form.

The nine members of ALBA, conceived by Venezuelan President Hugo Chavez, are Cuba, Dominica, Venezuela, Ecuador, Nicaragua, Honduras, Saint Vincent and Antigua, Bolivia and Barbuda.

The bloc also agreed to replace the International Center for Settlement of Investment Disputes, which is in charge of arbitrating international disputes and has probed a large number of contract disputes between Western energy firms and members of ALBA.

ALBA, which has already lost many of its members, including Ecuador, is echoing the moves of the European Union and its introduction of euro.

World Bank and IMF Join Global Attack on U.S. Dollar

U.S. Dollar Will No Longer Be World Reserve Currency

 



Obama Will Surrender America To World Government

Obama Will Surrender America To World Government

NoWorldSystem.com
October 17, 2009

“Out of these troubled times, our fifth objective – a New World Order – can emerge. . . Now, we can see a New World Order coming into view. A world in which there is a very real prospect for a New World Order. . .A world where the United Nations, freed from a Cold War stalemate, is poised to fulfill the historic vision of its founders.” -George H.W. Bush

The Minnesota Free Market Institute hosted an event at Bethel University in St. Paul on Wednesday evening. Keynote speaker Lord Christopher Monckton, former science adviser to British Prime Minister Margaret Thatcher, warned the American people to stop Obama from signing a ‘global climate treaty’ at the climate change conference in Copenhagen in December 7-18 that will ultimately surrender U.S. sovereignty to a World Government under the guise of helping the environment.

http://www.youtube.com/watch?v=Jl8lo-6rkts

With every passing day it becomes more evident that Obama is nothing more than a globalist, it is obvious from health care reform that he doesn’t care about the middle class, he is in the pocket of the internationalist elite like Kissinger and the rest of the global elite that wish to establish a World Government Dictatorship under the auspices of the United Nations.

http://www.youtube.com/watch?v=SISUIhprOa8

If this international climate change treaty passes, Americans will have no choice but to pay a global climate tax that will be paid directly to the United Nations, at first the tax will be introduced to the public gradually such as a barely noticeable tax at the gas pump, which will later be increased once it has been officially established.

The Bilderberg Group has discussed this new global tax this year among many other things like creating a fast-but-painful depression to better establish a New World Order. The IMF, a United Nations entity has already declared itself the global central bank that will set regulations and issue a global currency to the nations. People like George Soros, IMF and the World Bank are betting against the dollar and with the help of the Federal Reserve will topple the dominance of the U.S. dollar in the world market to destroy the U.S. economy and force the global dictatorship on the western hemisphere.

http://www.youtube.com/watch?v=xbTCmSdHvrk

We are beginning to see the emergence of a New World Order this year, with talks of a new global currency, a global climate tax, a global police force with access to a worldwide database of DNA, biometric and fingerprint records, an international gun-control treaty, an international criminal court treaty, the internet moving towards world government it’s crystal clear what is about to happen in this country.

Jerome Corsi: America Will Be Sold To World Government

Obama Poised to Cede US Sovereignty, Claims British Lord

What is the New World Order?

Russian Scholar Says US Will Collapse By 2010 – Re-Colonization of America Before 2011

 



Jerome Corsi: America Will Be Sold To World Government

Jerome Corsi: America Will Be Sold To World Government

http://www.youtube.com/watch?v=dMkSref0soc

http://www.youtube.com/watch?v=yAUvTiHlQJw

 



Replacing Dollar with Global Currency will damage U.S., claims memo

Confidential Memos Indicate Oil SDR Pricing Shift Would Be “Most Damaging” To United States

Zero Hedge
October 12, 2009

A recently declassified, formerly Confidential, 30 year old memo prepared by Henry Owen for President Jimmy Carter’s eyes only, highlights the perils facing the United States if oil were to be priced in SDRs instead of dollars, a topic which is all the rage today as rumors are swirling that this is an imminent transition to be “put” upon the United States.

In response to your request, we have considered, and discussed with other agencies, whether the US should favor use of SDRs instead of dollars, to pay for crude oil… I have concluded that dollar pricing should be maintained — a view that is shared by State, Treasury and CEA.

The reasons:

1. An announcement that dollars were no longer being used as the unit of account in paying for oil would trigger selling of dollars on the foreign exchange markets. So we would suffer.

2. I don’t see any offsetting gain, since OPEC would probably raise prices in SDR terms, as necessary to recover revenue losses if the SDR appreciated relative to the dollar.

And the conclusion:

We might be able to persuade the OPEC countries to make the shift if the dollar weakened but that’s precisely when the move would be most damaging to us.

Poor Mr. Owen- little did he realize that a mere 3 decades after this memo was penned, the administration would be consumed by a bunch of Wall Street pandering, middle class extortionists, who seek nothing else than to inflate the trillions of toxic “asset” loans that make up the broken backbone of the American financial system. It would come as no surprise if the move is now in fact spearheaded by the same administration which has no other purpose in life than to destroy what little savings Americans have and to throw all their cash to prop up artificially inflated equity prices so that insiders can sell their stock at agreeable levels, and so the toxic companies can use the run up to issue follow on offerings, moderating their untenable debt holdings.

Even more troubling, in another declassified memo, former Undersecretary of the Treasury and President of the New York Fed, Anthony Solomon, reaches this damning conclusion:

The choice of the unit of account for oil pricing is basically under the producing countries’ control. There is no particular economic reason why a shift from the dollar would be contrary to U.S. interest — unless the dollar were to depreciate significant in relation to the currencies in the pricing basket. But there could be major psychological effects. Given the unsettled conditions in the foreign exchange market [TD: so true today, 30 years later], such a step at this time could be interpreted as a lack of confidence in the dollar and as presaging a shift in OPEC investment policy away from the dollar. It could precipitate a serious market reaction.

Alas, even President Carter, seen by many as one of the worst American president in American history was smart enough to not bury his own middle class at the expense of landed Wall Street interests. It is a pity that his current
incarnation, advised by the Bernanke-Summers-Geithner think tank, has such diametrically opposing motivations.

U.S. Dollar Will No Longer Be World Reserve Currency

SDR Value Now On U.S. Custom Forms!

Iceland Parliament May Demand Government Drop IMF

 



Robert Kiyosaki: Silver Best Hedge Against Inflation

Robert Kiyosaki: Silver Best Hedge Against Inflation

http://www.youtube.com/watch?v=s7fb8jWImGM

Robert Kiyosaki is a motivational speaker, businessman, investor and author of the Rich Dad, Poor Dad series. In the following interview with Newsmax.tv Kiyosaki explains the reasons why Americans should be investing in silver.

Kiyosaki says silver is the best hedge against inflation and that in many ways the precious metal is a better investment than gold. He is a very strong buyer of silver and has been investing heavily in for over 10 years.

Why Silver Cannot Lose

Robert Kiyosaki
August 20, 2007

I believe the biggest opportunity today is in silver. I think this precious metal is about to become the most spectacular investment in recent history — bigger than oil, even bigger than Google.

Let me give you some reasons why:

Silver is a consumable industrial commodity.

It’s used in computers, cells phones, and electrical relays. This means that as countries like China, India, and Vietnam, and regions like Eastern Europe, become more modernized, the demand for silver will increase.

Silver is also applied in medicine. One little-known use is as a bactericide, a role silver has filled throughout history. Today, medical devices such as catheters and stethoscopes use silver, and every hospital in the western world uses silver sulfadiazine to prevent infections.

Silver is scarcer than gold.

Gold is hoarded. It’s estimated that 95 percent of all gold ever mined is still around. The exact opposite is true of silver: An estimated 95 percent of all silver ever mined has been consumed.

Forty-five percent of all silver mined is burned up in industrial uses. Jewelry accounts for 28 percent, and 20 percent has been consumed in photography. Only 5 percent is in coins.

Silver supplies are down.

In 1900, it was estimated that the world had 12 billion ounces of silver. By 1990 it had dropped to 2.2 billion ounces. By 2007, the supply was down to 300 million ounces.

Some of the more pessimistic forecasts estimate that the world will be out of silver in about 10 years. This could be catastrophic to the world economy. In 10 years, silver might have as much of an impact on the world economy as $200-a-barrel oil.

Jim Rogers: I would buy silver over gold right now

 



U.S. Dollar Will No Longer Be World Reserve Currency

U.S. Dollar Will No Longer Be World Reserve Currency

NoWorldSystem.com
October 10, 2009

The collapse of the U.S. dollar as the world’s leading reserve currency has been confirmed by Robert Fisk who wrote a revealing article about how China and other G20 nations wish to collapse the dominance of the U.S. by replacing the dollar with a basket of alternative currencies (including gold) in the form of SDR bonds created by the IMF.

“It’s interesting that China has not come out with any huge denials, Russia of course has up to a point and the Gulf arabs. But it’s in the interest of the arabs and all of the nations involved to deny this is happening at the moment. But we’re talking about a project that would not actually have its fulfillment; de-dollarization, for another 9 years.”

http://www.youtube.com/watch?v=BrD9sBBFFrc

Both Fisk and Max Keiser agree that when the U.S. dollar is replaced it will be a devastating hit to the country’s political influence around the world, Keiser agrees saying; “The mid-east doesn’t want to finance America’s wars anymore, because the U.S. dollar’s world reserve status gives America an incredible leverage in financing wars that they really don’t have to pay for. China, Russia, and Iran are paying for America’s wars in Afghanistan, Iraq and in possibly in Iran.”

http://www.youtube.com/watch?v=D7dH4e8HYFA

Keiser believes world de-dollarization will occur a lot sooner than what Fisk predicts will happen in 2018. Since the dollar is still being de-valued by the Federal Reserve’s continual plans to increase interest rates that will only expedite the collapse of the dollar making G20 nations switch to SDR bonds much faster than expected.

Gerald Celente weighs-in; “You can’t print phantom money out of thin-air, backed by nothing and producing practically nothing without destroying the dollar. They’ve been doing it for decades, it accelerated in 2008 under George Bush and is building trade deficits” “the tarp program that cost an access of $700 billion dollars to bailout the failing banks and financial institutions and then it was re-instituted to an even greater number by President Barack Obama printing another several hundred billion dollars worth of valueless money, and the whole world knows it!”

http://www.youtube.com/watch?v=JaZrW-aPyfc

Jim Rogers calls Fisk’s story a rumor, however agrees with the other analysts who say that Washington D.C. is purposefully de-basing the dollar. Rogers says countries like China are waking up to the dangers of currencies that are backed by nothing and inching towards real commodities like Gold, Silver, Nickle, Zinc, Copper, Sugar, Coal and Oil just to name a few.

http://www.youtube.com/watch?v=HM3k9uGAUsA

 



World Bank and IMF Join Global Attack on U.S. Dollar

World Bank and IMF Join Global Attack on U.S. Dollar

Larry Edelson
Money and Markets
October 4, 2009

In my emails to you over the past couple of weeks, I’ve shown you why Washington has no choice but to devalue the dollar — and how global leaders and even the United Nations have joined the attack on the greenback by demanding it be replaced as the world’s reserve currency.

Now, just this week, the International Monetary Fund and the World Bank have begun adding their voices to the international choir calling for a new global reserve currency:

* Last week, World Bank President Robert Zoellick warned that the dollar’s status will be challenged and shouldn’t be taken for granted.

* According to Turkish Deputy Prime Minister Ali Babacan, it’s likely that the role of special drawing rights (SDRs) based on a basket of currencies will be discussed as an alternative to the dollar during meetings of the World Bank and IMF in Istanbul next week.

* Meanwhile, global governments, central banks, companies and investors continue to slash their dollar holdings. According to the IMF, in April through June of this year, the greenback’s share of global currency reserves fell to the lowest level in a decade. Holdings of euros, in contrast, rose to a new all-time record high.

All this adds weight and momentum to the devaluation of the dollar. It is DEFINITELY ON THE TABLE. Indeed, for the first time I can remember, the G-7 finance officials, meeting this weekend, are rumored to be breaking with tradition and choosing not to release a statement on the global economy and currencies.

I feel this is an extremely significant development: At last week’s G-20 meeting, the group officially anointed itself as being in charge of global economic affairs.

Plus, we now have the G-7 refusing to discuss the dollar, which is highly unusual. Many will say that, if the G-7 does indeed refuse to comment on the dollar at this weekend’s meeting, it’s merely a sign they’re beginning to turn the reigns over to the G-20 for currency matters.

Baloney! The G-7 WILL discuss the huge “global economic imbalances” in the world. And to me, that’s code talk for a currency devaluation on the agenda. Members of the G-7 ARE discussing it. They’re just NOT doing it in public.

It reminds me of the 1985 Plaza Accord, where James Baker committed the U.S. to a depreciating dollar, bulldozing over our creditors, and ultimately precipitating the ‘87 crash.

The difference: Back then the U.S. was in a position to lead the devaluation. Today, it’s not. Today, our creditors are going to bulldoze over us.

 

IMF Catapults From Shunned Agency to Global Central Bank Issuing Debt to the World While U.S. Dollar Plummets

Huffington Post
October 2, 2009

http://www.youtube.com/watch?v=0-ZZFmKFk1s

“A year ago,” said law professor Ross Buckley on Australia’s ABC News last week, “nobody wanted to know the International Monetary Fund. Now it’s the organiser for the international stimulus package which has been sold as a stimulus package for poor countries.”

The IMF may have catapulted to a more exalted status than that. According to Jim Rickards, director of market intelligence for scientific consulting firm Omnis, the unannounced purpose of last week’s G20 Summit in Pittsburgh was that “the IMF is being anointed as the global central bank.” Rickards said in a CNBC interview on September 25 that the plan is for the IMF to issue a global reserve currency that can replace the dollar.

“They’ve issued debt for the first time in history,” said Rickards. “They’re issuing SDRs. The last SDRs came out around 1980 or ’81, $30 billion. Now they’re issuing $300 billion. When I say issuing, it’s printing money; there’s nothing behind these SDRs.

SDRs, or Special Drawing Rights, are a synthetic currency originally created by the IMF to replace gold and silver in large international transactions. But they have been little used until now. Why does the world suddenly need a new global fiat currency and global central bank? Rickards says it because of “Triffin’s Dilemma,” a problem first noted by economist Robert Triffin in the 1960s. When the world went off the gold standard, a reserve currency had to be provided by some large-currency country to service global trade. But leaving its currency out there for international purposes meant that the country would have to continually buy more than it sold, running large deficits; and that meant it would eventually go broke. The U.S. has fueled the world economy for the last 50 years, but now it is going broke. The U.S. can settle its debts and get its own house in order, but that would cause world trade to contract. A substitute global reserve currency is needed to fuel the global economy while the U.S. solves its debt problems, and that new currency is to be the IMF’s SDRs.

That’s the solution to Triffin’s dilemma, says Rickards, but it leaves the U.S. in a vulnerable position. If we face a war or other global catastrophe, we no longer have the privilege of printing money. We will have to borrow the global reserve currency like everyone else, putting us at the mercy of the global lenders.

To avoid that, the Federal Reserve has hinted that it is prepared to raise interest rates, even though that would mean further squeezing the real estate market and the real economy. Rickards pointed to an oped piece by Fed governor Kevin Warsh, published in The Wall Street Journal on the same day the G20 met. Warsh said that the Fed would need to raise interest rates if asset prices rose – which Rickards interpreted to mean gold, the traditional go-to investment of investors fleeing the dollar. “Central banks hate gold because it limits their ability to print money,” said Rickards. If gold were to suddenly go to $1,500 an ounce, it would mean the dollar was collapsing. Warsh was giving the market a heads up that the Fed wasn’t going to let that happen. The Fed would raise interest rates to attract dollars back into the country. As Rickards put it, “Warsh is saying, ‘We sort of have to trash the dollar, but we’re going to do it gradually.’ . . . Warsh is trying to preempt an unstable decline in the dollar. What they want, of course, is a stable, steady decline.”

What about the Fed’s traditional role of maintaining price stability? It’s nonsense, said Rickards. “What they do is inflate the dollar to prop up the banks.” The dollar has to be inflated because there is more debt outstanding than money to pay it with. The government currently has contingent liabilities of $60 trillion. “There’s no feasible combination of growth and taxes that can fund that liability,” Rickards said. The government could fund about half that in the next 14 years, which means the dollar needs to be devalued by half in that time.

The Dollar Needs to be Devalued by Half?

Reducing the value of the dollar by half means that our hard-earned dollars are going to go only half as far, something that does not sound like a good thing for Main Street. Indeed, when we look more closely, we see that the move is not designed to serve us but to serve the banks. Why does the dollar need to be devalued? It is to compensate for a dilemma in the current monetary scheme that is even more intractable than Triffin’s, one that might be called a fraud. There is never enough money to cover the outstanding debt, because all money today except coins is created by banks in the form of loans, and more money is always owed back to the banks than they advance when they create their loans. Banks create the principal but not the interest necessary to pay their loans back.

The Fed, which is owned by a consortium of banks and was set up to serve their interests, is tasked with seeing that the banks are paid back; and the only way to do that is to inflate the money supply to create the dollars to cover the missing interest. But that means diluting the value of the dollar, which imposes a stealth tax on the citizenry; and the money supply is inflated by making more loans, which adds to the debt and interest burden that the inflated money supply was supposed to relieve. The banking system is basically a pyramid scheme, which can be kept going only by continually creating more debt.

The IMF’s $500 Billion Stimulus Package:
Designed to Help Developing Countries or the Banks?

And that brings us back to the IMF’s stimulus package discussed last week by Professor Buckley. The package was billed as helping emerging nations hard hit by the global credit crisis, but Buckley doubts that that is what is really going on. Rather, he says, the $500 billion pledged by the G20 nations is “a stimulus package for the rich countries’ banks.”

Why does he think that? Because stimulus packages are usually grants. The money coming from the IMF will be extended in the form of loans.

These are loans that are made by the G20 countries through the IMF to poor countries. They have to be repaid and what they’re going to be used for is to repay the international banks now. . . . [T]he money won’t really touch down in the poor countries. It will go straight through them to repay their creditors. . . . But the poor countries will spend the next 30 years repaying the IMF.

Basically, said Professor Buckley, the loans extended by the IMF represent an increase in seniority of the debt. That means developing nations will be even more firmly locked in debt than they are now.

At the moment the debt is owed by poor countries to banks, and if the poor countries had to, they could default on that. The bank debt is going to be replaced by debt that’s owed to the IMF, which for very good strategic reasons the poor countries will always service. . . . The rich countries have made this $500 billion available to stimulate their own banks, and the IMF is a wonderful party to put in between the countries and the debtors and the banks.

Not long ago, the IMF was being called obsolete. Now it is back in business with a vengeance; but it’s the old unseemly business of serving as the collection agency for the international banking industry. As long as third world debtors can service their loans by paying the interest on them, the banks can count the loans as “assets” on their books, allowing them to keep their pyramid scheme going by inflating the global money supply with yet more loans. It is all for the greater good of the banks and their affiliated multinational corporations; but the $500 billion in funding is coming from the taxpayers of the G20 nations, and the foreseeable outcome will be that the United States will join the ranks of debtor nations subservient to a global empire of central bankers.

 

Man Throws Shoe at IMF Chief

http://www.youtube.com/watch?v=5a_56l6Wx8g