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UN calls for new reserve currency
AFP (Google news) ^

Posted on 10/06/2009 10:32:16 AM PDT by djf

ISTANBUL — The United Nations called on Tuesday for a new global reserve currency to end dollar supremacy which has allowed the United States the "privilege" of building a huge trade deficit.

"Important progress in managing imbalances can be made by reducing the reserve currency country?s 'privilege' to run external deficits in order to provide international liquidity," UN undersecretary-general for economic and social affairs, Sha Zukang, said.

(Excerpt) Read more at google.com ...


TOPICS: Business/Economy; Front Page News; News/Current Events
KEYWORDS: agenda; bho44; corruption; globalcurrency; globalisation; globalization; liberalfascism; nwo; obamafalsemessiah; obamatruthfiles; un; uncorruption; unitednations
Don't shoot the messenger!!
1 posted on 10/06/2009 10:32:16 AM PDT by djf
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To: djf

http://www.freerepublic.com/focus/f-news/2355900/posts


2 posted on 10/06/2009 10:33:58 AM PDT by djf (Some people are proud. Some people are curious. I'm proud that I'm curious!!)
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To: djf

No shooting. But I call for the UN to move its headquarters to Caracas.


3 posted on 10/06/2009 10:34:21 AM PDT by La Lydia
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To: djf
This article contains a word I had never seen before, so I looked it up. From wikipedia:

Seigniorage as a tax

Seigniorage can be seen as a form of tax levied on the holders of a currency and as such a redistribution of real resources to the issuer.

Hmmmmmmmmmmmmm.

4 posted on 10/06/2009 10:35:08 AM PDT by ClearCase_guy (Play the Race Card -- lose the game.)
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To: La Lydia
"call for the UN to move its headquarters to Caracas."

I'll 2nd that.

5 posted on 10/06/2009 10:36:05 AM PDT by sniper63 (Silent and stealthy - one shot - one kill)
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To: djf

How about they try the Zimbabwe Dollar and see how that works out for them!


6 posted on 10/06/2009 10:36:10 AM PDT by Boogieman
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To: All

This is war on the USA.

This is not about the reserve currency, this is about attacking the USA. This would be done even if the Obama-idiots were not in charge.


7 posted on 10/06/2009 10:37:07 AM PDT by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: longtermmemmory
It's an attack on the US and also a global redistribution of wealth.

I think Obama likes both ideas.

8 posted on 10/06/2009 10:38:27 AM PDT by ClearCase_guy (Play the Race Card -- lose the game.)
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To: djf
How 'bout a lead based currency?

Image Hosted by ImageShack.us

9 posted on 10/06/2009 10:41:03 AM PDT by Delta 21 (If you cant tell if I'm being sarcastic...maybe I'm not.)
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To: djf
AValanche Pictures, Images and Photos
10 posted on 10/06/2009 10:41:28 AM PDT by CommieCutter (http://www.pbs.org/wgbh/nova/programs/ht/qt/3013_08.html)
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To: djf
Don't blame the world for this.

A reserve currency is supposed to be stable and backed by a country that can be relied upon to fulfill its obligations. Would you trust any other country that is running up debt like the U.S. is today? Would you put your faith in a country lead by the likes of BHO?

Sorry (really, and truly sorry), but the U.S. is doing this to itself.

Please see what I wrote on this thread:

http://www.freerepublic.com/focus/f-chat/2355603/posts

11 posted on 10/06/2009 10:42:31 AM PDT by USFRIENDINVICTORIA
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To: All

Dear United Nations:
Go f##k yourselves.
If the dollar isn’t good enough, we will gladly stop forcing them on you.
Signed,
America


12 posted on 10/06/2009 10:45:56 AM PDT by Maverick68 (w)
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To: ClearCase_guy

Out of all the industries, I would say that the financials are the only ones that come close to lawyers, double-speak wise.

I read alot of financial blogs, and practically every day you hear stuff like “The increase in demand was reduced on Tuesday...” and then you sit there scratching your head thinking WTF did they really say??????


13 posted on 10/06/2009 10:46:42 AM PDT by djf (Some people are proud. Some people are curious. I'm proud that I'm curious!!)
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To: djf

>> “Important progress in managing imbalances can be made by reducing the reserve currency country?s ‘privilege’ to run external deficits in order to provide international liquidity,” UN undersecretary-general for economic and social affairs, Sha Zukang, said.

You don’t think the CHINESE undersecretary-general might have a hidden agenda there... do you?

Nah. They’re UN diplomats; their track record of integrity is unassailable. How could I even think that.


14 posted on 10/06/2009 10:47:01 AM PDT by Nervous Tick (Stop dissing drunken sailors! At least they spend their OWN money.)
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To: La Lydia

I second that motion. De-fund their sorry tails. Time to create a league of democracies or just work with individual allies and be done with the dictators’ debating society and money pit. Why pay for a bunch of tin horns and parasites to conspire to bleed off the fruit of our toil and enterprise?

Also, we need to DRILL BABY DRILL and move to become at least energy neutral (create as much as we use - buying and selling OK).


15 posted on 10/06/2009 10:52:19 AM PDT by vrwconspiracist (The Tax Man Cometh)
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To: djf

“...new global reserve currency...”

Such as ... gold?


16 posted on 10/06/2009 10:52:35 AM PDT by swain_forkbeard (Rationality may not be sufficient, but it is necessary.)
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To: djf

A world currency war......and a inept president, god help us.


17 posted on 10/06/2009 10:54:07 AM PDT by Kakaze (Exterminate Islamofacism and apologize for nothing.....except not doing it sooner!)
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To: Nervous Tick

Well, lets be honest here.

IF the US had a balanced budget, or better yet, a surplus
AND interest rates were higher
AND the US hadn’t pretty much gutted it’s manufacturing sector
AND the total M3 was heading down

THEN it might be a good investment for foreigners to buy Tbills and bonds.

BUT.....

We have a huge deficit.
Interest rates are near zero.
The job numbers keep getting worse.
Government just keeps spending way more than it takes in, it’s basically manufacturing money.

I’m just calling it like I see it...


18 posted on 10/06/2009 10:54:43 AM PDT by djf (Some people are proud. Some people are curious. I'm proud that I'm curious!!)
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To: Nervous Tick

Any and all members of the UN can freely start using the Chicoms Yuan. I do believe if they choose to use it they may be a bit nervous regardling the absolute opacity that is the Chicom banking system. Just sayin. I really don’t want foriegners using dollars if they prefer to use euros, yuans, marks, francs, etc. Pick you poision folks, just don’t complain when you’ve been biten.


19 posted on 10/06/2009 10:54:54 AM PDT by equalitybeforethelaw
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To: swain_forkbeard

Soybeans... gold... cotton... who knows?
Something tangible.

Like it or not, it’s gonna happen.


20 posted on 10/06/2009 10:56:55 AM PDT by djf (Some people are proud. Some people are curious. I'm proud that I'm curious!!)
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To: djf

>> IF &etc THEN it might be a good investment for foreigners to buy Tbills and bonds. BUT...

I hear you, FRiend... yet Treasuries, particulary short term treasuries, are oversubscribed.

Why is that?


21 posted on 10/06/2009 10:57:47 AM PDT by Nervous Tick (Stop dissing drunken sailors! At least they spend their OWN money.)
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To: Kakaze
If the U.S. loses reserve currency status — that needs to be pinned to BHO. IMHO, this should become a major theme — so that Americans become aware of what they (may be) are about to lose & why it matters so much. There should be no room left for Obama to wiggle out from under this impending disaster.
22 posted on 10/06/2009 10:57:47 AM PDT by USFRIENDINVICTORIA
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To: djf
You've got it exactly right! That's the message that needs to get out. Pin this where it belongs — on Obama.
23 posted on 10/06/2009 10:59:10 AM PDT by USFRIENDINVICTORIA
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To: djf

F&^% the UN.


24 posted on 10/06/2009 10:59:57 AM PDT by crazyotto
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To: Nervous Tick

Not sure.

But is not the Federal reserve able to bid it up to wherever they want? They’ve been doing alot of the buying...


25 posted on 10/06/2009 11:00:09 AM PDT by djf (Some people are proud. Some people are curious. I'm proud that I'm curious!!)
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To: djf

>> [The Fed has] been doing alot of the buying...

Not at the short end. *That* money is coming from somewhere else. Where? And why?


26 posted on 10/06/2009 11:02:42 AM PDT by Nervous Tick (Stop dissing drunken sailors! At least they spend their OWN money.)
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To: Nervous Tick

I don’t know much about the intricacies and shenanigans they are up to.
Remember, these guys can make David Copperfield look like a piker!!

I just try to watch the fundamentals.


27 posted on 10/06/2009 11:09:10 AM PDT by djf (Some people are proud. Some people are curious. I'm proud that I'm curious!!)
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To: djf

>> I just try to watch the fundamentals.

Not meaning to belabor the point, but what happens with Treasuries IS one of the “fundamentals”, IMO.

Like you, I’m just trying to make sense of it all. Without much success, I’m sorry to report.


28 posted on 10/06/2009 11:11:51 AM PDT by Nervous Tick (Stop dissing drunken sailors! At least they spend their OWN money.)
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To: longtermmemmory
Bingo! It is a war on America.

I'd go one further, it is a war on the sovereignty of America. An attempt to pull us into a one world governance.

The cabal(s) that are behind all this known damn well that our nations constitution MUST be destroyed through any means possible if a one world currency and governance is to take place.

In short, American nationalism and world dominance must be destroyed.

29 posted on 10/06/2009 11:13:14 AM PDT by servantboy777
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To: Nervous Tick

Well, any time they sell a Treasury, doesn’t that basically mean they spent more than they had and have to fund the shortfall?

That’s about as fundamental as I can see it, and it’s not good not matter what the rate is...

But maybe I’m wrong, wouldn’t be the first time!


30 posted on 10/06/2009 11:16:34 AM PDT by djf (Some people are proud. Some people are curious. I'm proud that I'm curious!!)
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To: djf

>> That’s about as fundamental as I can see it, and it’s not good not matter what the rate is...

There are two somewhat separate issues here.

One, “Do investors view treasuries as a safe investment? If so, why?”. My posts have been speaking to only this issue.

Two, “Does the US borrow too damn much money?” I would have to agree with you and say, “Hell YES it borrows too much”.


31 posted on 10/06/2009 11:21:31 AM PDT by Nervous Tick (Stop dissing drunken sailors! At least they spend their OWN money.)
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To: djf

If we defund the UN, and stop all aid to other countries immediately (military or otherwise) we ought to be able to fix our financial problems pretty quickly.


32 posted on 10/06/2009 11:24:42 AM PDT by kaehurowing
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To: kaehurowing

Well, except for that health care thingie...

Congress is hell bent on giving away money it doesn’t even have.
That’s what gets them re-elected...


33 posted on 10/06/2009 11:30:09 AM PDT by djf (Some people are proud. Some people are curious. I'm proud that I'm curious!!)
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To: sniper63

I’ll third it.


34 posted on 10/06/2009 1:03:55 PM PDT by seanmerc
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To: USFRIENDINVICTORIA

That’s true...but...if we suddenly stopped giving dollars to the UN, they’d probably change their tune.


35 posted on 10/07/2009 6:26:04 AM PDT by RockinRight (9/12/09 - the day the sh*t hit the fan)
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To: La Lydia
No shooting. But I call for the UN to move its headquarters to Caracas.

Why? We are on the same level with them now. OStalin is planning to remake the USA in the image of old Soviet Union, Cuba, present North Korea and Venezuela.

36 posted on 10/07/2009 6:29:19 AM PDT by RetiredArmy (Got Questions? Need Answers? LOOK TO THE CROSS! You will find them there.)
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To: djf

I think congress needs to get a little more deadlocked about payments to the UN.


37 posted on 10/07/2009 6:40:09 AM PDT by chuck_the_tv_out ( <<< click my name: now featuring Freeper classifieds)
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To: servantboy777
I'd go one further, it is a war on the sovereignty of America. An attempt to pull us into a one world governance.

And they are doing this because they know we have a loser and a wimp for a prez.

38 posted on 10/07/2009 7:21:42 AM PDT by unixfox (The 13th Amendment Abolished Slavery, The 16th Amendment Reinstated It !)
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To: RockinRight
The WORLD will HATE us worse than they do now if we stopped funding the UN.<-------DNC TALKING POINT

Get the liberals out of power NOW!!!

39 posted on 10/07/2009 8:34:32 AM PDT by Dubya-M-DeesWent2SyriaStupid!
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To: RockinRight
Funding of the UN is another matter. If the U.S. and Israel paid to end the UN; that would be justified.
40 posted on 10/07/2009 8:44:18 AM PDT by USFRIENDINVICTORIA
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To: djf

Screw the new world order.


41 posted on 10/07/2009 8:56:59 AM PDT by RAO1125 (Revolution's are for Marxists. We need a Constitutional Restoration)
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To: swain_forkbeard

SDR’s. been in existence since bretton woods. it’s a done deal.


42 posted on 10/07/2009 8:33:43 PM PDT by the invisib1e hand (Isn't the Golden Mean the secret to something," I parried? "Yes," Blue replied. "Mediocrity.")
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To: unixfox

The enemy is not just those outside this country.

We have plenty of Americans that hate America.


43 posted on 10/08/2009 10:34:52 AM PDT by servantboy777
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