Wednesday, September 15, 2010
One World Currency - Step By Step
By Ray Gano
Last week I wrote an article titled " USPS Now Converting US Dollars To Global SDRs." Needless to say I have been generating a lot of questions out there. The primary one is "Will there be a one world currency?"
My answer, not only is there going to be a one world currency, it is already here and in the works.
As I showed in my previous article the US Post Office is already trading in what is called SDRs, or Special Drawing Rights. SDRs are becoming the defacto Global Currency Reserve.
But this is not the final solution.
We as Students of bible prophecy know and understand that the Antichrist will create a one world currency that will envelope legal, political, religious and social aspects.
I am one that believes that things do not take place over night. Man needs time to adjust and adapt to change. Otherwise chaos ensues and "the herd" is dispersed.
Background on The Enemy
You and I know the enemy. His name is Lucifer AKA Heylel Ben-Shachar
In the Bible, the Hebraic text in Isaiah 14:2 refers to Helel Ben Shachar or Heylel Ben-Shachar (היללבן שחר). Helel Ben-Schachar is translated into English as “O shining star, son of the dawn!" The name Lucifer is a translation of Helel Ben-Shachar into Latin by St. Jerome in the fourth century. Lucifer derives from two Latin words, lux (light) and fero (to bear–to bring), meaning light-bearer, light-bringer. The Bible identifies Lucifer as Devil, Satan, serpent, dragon, dweller of hell and other names. (1)
Knowing that the enemy is driven by pride and ego, he always shows his hand in a secret way announcing his intentions.
The enemies move to shift the world from multiple currencies to that of a single global one world currency was recently announced. And like many of the announcements of the enemy, it went unnoticed by many.
Back in April of this year (2010) a paper was released by the Strategy, Policy and Review Department of the IMF (International Monetary Fund) titled “Reserve Accumulation and International Monetary Stability”
In this document the IMF recommends that the world adopts a global currency called the "Bancor." But that is not all, what is also proposed is a single global central bank be created to administer the currency.
Folks, this is not conspiracy talk, black helicopters, or little green men. The IMF, through this document is telling the world of its intentions of running the world's economy. Let me say very clearly, what the IMF wants, the IMF will eventually get.
The Bancor is coming… step by step.
About The Bancor
The following is what Wikipedia states about the Bancor.
The Bancor was a World Currency Unit of clearing that was proposed by John Maynard Keynes, as leader of the British delegation and chairman of the World Bank commission, in the negotiations that established the Bretton Woods system, but has not been implemented.There are some suggestions from the IMF of the possibility of its use in future.
It was to be initially fixed in terms of 30 commodities, of which one would be gold. It would stabilize the average prices of commodities, and with them the international medium of exchange and a store of value.
In practice, until the collapse of the Bretton Woods system in 1971, gold itself filled this role, with the U.S. dollar fixed to gold and many other currencies fixed to either the U.S. dollar or directly to gold.
There have been variations on the model of the Bancor recently, such as having a currency unit for regional trade organizations such as the North American Free Trade Agreement (NAFTA), ASEAN (Association of Southeast Asian Nations), etc. In this model the commodities that would be placed into the pool would be limited to a fixed number of the currencies of the partner nations, and this would be done on an annual basis with agreement on prerequisites for withdrawal.
Step By Step - The SDR
As I have said, I do not believe in things happening overnight. To numb the senses of the masses, steps towards the final goal need to be taken. You can move a herd of cattle to the slaughter house very easily as long as it is done slowly and methodically otherwise the cattle go every time.
The same goes for people.
We have been moving towards a single global currency for some time now and a major step in that direction was when the SDR or Special Drawing Rights was established. But it was just a step in the direction that the IMF wants the world to go.
In the IMF document “Reserve Accumulation and International Monetary Stability” the report does say that SDRs will become the "principal reserve asset" as the world moves towards a single currency.
The report states:
“As a complement to a multi-polar system, or even—more ambitiously—its logical end point, a greater role could be considered for the SDR.”
But the report also states that SDRs have some serious limitations. What is that limitation? Well currently the SDR is tied to national currencies So with SDRs being tied to national currencies, when said currencies go up, the SDR goes up. When said currencies go down, like what is taking place today, the SDR goes down.
Here is the breakdown of the "basket" of currencies that the SDR is tied too:
*U.S. Dollar (44 percent)
*Euro (34 percent)
*Yen (11 percent)
*Pound (11 percent)
As we all know the dollar is not doing too well and in fact the trust of the people is starting to wain against the dollar. This effects the value of the SDR and the IMF does not like that.
So the IMF needs to move away from the U.S. dollar as the world reserve currency and urges the adoption of a currency unit that would be truly international.
But that is not the only reason. The fact is that SDRs are a pain in the rear to use. To obtain SDRs, people need to purchase them in their own currency, then use them, then the person who received the SDRs need to convert them into their own currency.
It is this trading, converting, back and forth that really limits their usefulness according to the IMF report….
“A limitation of the SDR as discussed previously is that it is not a currency. Both the SDR and SDR-denominated instruments need to be converted eventually to a national currency for most payments or interventions in foreign exchange markets, which adds to cumbersome use in transactions. And though an SDR-based system would move away from a dominant national currency, the SDR’s value remains heavily linked to the conditions and performance of the major component countries.”
So what is the answer?
Well, as stated by the IMF report, they believe that the adoption of a true single global currency administered by a central global bank is the answer.
Enter the Bancor
In reading the IMF report the IMF thinks that it would be a great idea that the Bancor be introduced as a stable global currency throughout the entire world.
Like the adoption of the Euro, the Bancor would be accepted everywhere along with that countries own currency. People would naturally gravitate to a stronger more stable currency over that of their own currency.
I have to say that if I was offered a means to protect my assets with a stable method of exchange, AKA currency, I know that I would purchase it. I do not have faith in our dollar. The current as well as past administrations have incurred debt that is impossible to pay off. That is a fact.
Knowing this, eventually the US will default on loans. In the day of digital money that we live in the dollar will go down the tubes in a matter of hours. There will not be enough time to pull money from the bank, inflation will instantly kick in and in a matter of days there will be a national financial emergency. The president will declare a bank holiday and close all the banking institutions. Chaos will erupt and millions of middle class people will see their life savings wiped out.
That is unless people have thought ahead and maintained their wealth in a solid method of exchange (currency) or better yet a method of wealth (gold, silver, tangible assets)
But I am digressing here.
The IMF thinks it would be a solution to the world's problem if one single currency would be put in place. The IMF report clearly calls out the need for the Bancor to ride along side of nation's currencies.
“One option is for Bancor to be adopted by fiat as a common currency (like the euro was), an approach that would result immediately in widespread use and eliminate exchange rate volatility among adopters (comparable, for instance, to Cooper 1984, 2006 and the Economist, 1988). A somewhat less ambitious (and more realistic) option would be for Bancor to circulate alongside national currencies, though it would need to be adopted by fiat by at least some (not necessarily systemic) countries in order for an exchange market to develop.”
AND what will naturally be needed is a global central bank to administer this new one world currency. This central bank is something like the current Federal Reserve today. But what is very troublesome is that it will be completely outside the control of any particular national government….
“A global currency, Bancor, issued by a global central bank (see Supplement 1, section V) would be designed as a stable store of value that is not tied exclusively to the conditions of any particular economy. As trade and finance continue to grow rapidly and global integration increases, the importance of this broader perspective is expected to continue growing.”
In fact, the IMF report makes no bones about it and compares this coming global central bank to the Federal Reserve….
“The global central bank could serve as a lender of last resort, providing needed systemic liquidity in the event of adverse shocks and more automatically than at present. Such liquidity was provided in the most recent crisis mainly by the U.S. Federal Reserve, which however may not always provide such liquidity.”
Folks, just in case you do not know this; the Federal Reserve has nothing to do with the federal government. It is a privately held company whose stock you can purchase from the stock exchange. It is run by a cartel of elite bankers, financiers, businessmen and they are the real power behind the curtain.
In creating a central global bank like the one being proposed, it enables the power of the world to be easily wielded by one single person, the head of that central bank. The likes of an Allen Greenspan or Ben Bernenke would head this bank up.
As I have said, what the IMF wants, the IMF gets. Knowing this, we will eventually have the Bancor and a central global bank running the show. Power will be given to a group of people headed by a single man.
Now do you see how easy it would be to control the masses by one single man?
Revelation 13:16-18 KJV And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:
17 And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.
18 Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six hundred threescore and six.
Slowly the stage is being set. The enemy in all his pride and egotism is laughing at man and his ignorance as he makes his plans right before our eyes and no one seems to even be paying attention.
That ol' worm Heylel Ben-Shachar is playing his game and man is falling for it. Eventually he will demand that man take a mark to identify himself as one of his. Those who do not will lose their head as a martyr of our Lord Jesus Christ.
But for that to take place, there are still some steps that need to be established. We who are here now will face some if not all of this setting of the stage. While we are here we need to be ready always to preach the word, share the gospel and occupy till HE returns.
The time is now to prepare and be ready, not run off to some corner and hide. We have a responsibility to our Lord, it is our reasonable service.
One Final Note
There is today a system already in place. In fact this system envelopes all legal, political, religious and social aspects. It is the system that is spreading like a cancer and it is the Antichrist will use to rise to power. As I stated, the game that our pride filled egotistical enemy likes to play is hiding things right before our eyes. It really is the best place to hide something. This legal, political, religious, and social system many do not want to acknowledge and in fact many are already welcoming and defending its right to be spread; is Islam and it is right before our eyes. In its system is everything that scripture describes that the Antichrist will use to come to power.
It is here now and within 20 years it will have established a global government dedicated to its god Allah.
Who by the way is also known as Heylel Ben-Shachar - which literally translated from God's word means Crescent Moon - Morning Star.
Download and read “Reserve Accumulation and International Monetary Stability” at http://www.imf.org/external/np/pp/eng/2010/041310.pdf
3 -http://ftalphaville.ft.com/blog/2010/08/04/306346/imf-blueprint-for-a-global-currency-yes-really/5- http://www.economist.com/finance/displaystory.cfm?story_id=13382167&CFID=48661507&CFTOKEN=95325844