The G20 moves the world a step closer to a global currency

[katty]

more:
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/5096524/The-G20-moves-the-world-a-step-closer-to-a-global-currency.html

The G20 moves the world a step closer to a global currency
The world is a step closer to a global currency, backed by a global central bank, running monetary policy for all humanity.

By Ambrose Evans-Pritchard
Last Updated: 3:45PM BST 07 Apr 2009

A single clause in Point 19 of the communiqué issued by the G20 leaders amounts to 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," it said. SDRs are Special Drawing Rights, a synthetic paper currency issued by the International Monetary Fund that has lain dormant for half a century.

G20 summit: leaders on brink of $1 trillion rescue dealIn 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.

It has been a good summit for the IMF. Its fighting fund for crises is to be tripled overnight to $750bn. This is real money.

[babylonsister]

1. Please stop reading that crap! Their sole purpose is to get a rise

out of people and it works too well.

The only person entity I've heard that from over here is the rethugs, lead by Michelle Bachmann. I somehow think it's not worth worrying about.