Secretive Plans for the Issuing of a Global Currency: The Basal Accords

04/18/09 4:42 PM

Introduction

I have been tracking the Basel Accords and the mischief they have allowed to happen in the worlds financial systems for a few years now. Basicaly it is the epitomy of governent by elites allied to special interests and a harbinger of the undemocratic regime(s) gradualy being forced onto democratic systems. This system is constructed and moderated by our nation states central banks who periodicaly send representatives to Basel to create or modify 'accords'.

Government control is nominaly excercised by central banks (or their equivalent) for each country represented at Basel reporting to the financial branch of Government. eg the US Treasury.

So you might ask who represented the US at the formulation of the Basel accords? The representatives of the Federal Reserve.

Who specificaly represented the Federal Reserve? Representatives of the private banking institutions who own the Federal Reserve

Who got us into the financial crises? The private banking institutions who own the Federal Reserve.

How did these private banking institutions who own the Federal Reserve create the mess? They wrote into the Basel accords gaps in the accords you could drive a carrier battlegroup through and subsequently did. They created a class of financial instruments which they and they alone monitored and exploited for spurious profit beyond the governments reach and oversight.

This is the model elites from Sarkozy to Brown to Merkel to Obama follow, this is the danger we all face, an untouchable strata of 'government' run by special interests without the inconvenience of Democracy.

Read carefully, this is our future, we get the government we deserve.

Do we really want the Bank for International Settlements (BIS) issuing our global currency

By Ellen Brown

In an April 7 article in The London Telegraph titled "The G20 Moves the World a Step Closer to a Global Currency," Ambrose Evans-Pritchard wrote:

"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.

Continued:

http://www.campaignforliberty.com/blog.php?view=16310

China: key currency countries need watching
(Agencies)
Updated: 2009-04-19 13:49

BOAO, China -- Premier Wen Jiabao said on Saturday that the economic polices of countries which issue global reserve currencies require closer supervision as part of building a diversified international monetary system.

Wen and central bank governor Zhou Xiaochuan also cautioned against jumping to the conclusion that China is already on the path to economic recovery, after data issued on Thursday showed signs of an upturn in momentum.

Wen's currency comments, an apparent reference to US economic management that Beijing has blamed in part for the global financial crisis, were twinned with a pledge to promote more international use of the Chinese yuan .

He was not suggesting that drastic changes to the financial system needed to be taken in the short term, Zhou said.

"It's just like treating a patient. First we need to make a diagnosis. Then comes treatment," Zhou told the forum.

"But right now, not all the doctors have the same diagnosis.... Unfortunately, it seems that there is still no consensus among various countries about the source of the financial crisis," he said.

Premier Wen said China would look at expanding its currency swap agreements that are seen as a step toward eventually making the yuan more of a global reserve asset.

"We should give full play to bilateral currency swap agreements and will study expanding currency swaps in scale and to more countries," he said.

China's central bank has signed six swap deals since mid-December, totalling 650 billion yuan ($95 billion), with countries from Argentina to Indonesia.

More:

http://www.chinadaily.com.cn/china/2009-04/19/content_769230...