Global currency - How would it work?

Part of Africas economic problem is currency, neglect is probably the better term. A lot of people think about Islam and Christian enlightenment whenever they think about Africa, they think that is all there is in Africa. However, many African states still speak and write native languages, and many newspapers are circulated in these languages. It still has a lot of unique cultures everywhere to offer.

 

Log in or Sign up to hide all adverts.

This almost the case already the case. The amount of "real" money presently in circulation is vanishingly small, as compared to credit, no more than the odd one or two percent.

Governments, almost invariably, are borrowers, not lenders.

The control of national government slipped like sand through their fingers in 1930 with the establishment of the BIS: http://www.bis.org/

That is another myth.

It is about credit, permission to perform.

Money does not fall just out of the sky, nor does it grow on trees. Money is created, and thereby the World is controlled, by those who create it.

 

Log in or Sign up to hide all adverts.

This almost the case already. The amount of "real" money presently in circulation is vanishingly small, as compared to credit, no more than the odd one or two percent.

Governments, almost invariably, are borrowers, not lenders.

The control of national government slipped like sand through their fingers in 1930 with the establishment of the BIS: http://www.bis.org/

That is another myth.

It is about credit, permission to perform.

Money does not fall just out of the sky, nor does it grow on trees. Money is created, and thereby the World is controlled, by those who create it.

 

Log in or Sign up to hide all adverts.

Perhaps my memoryis failin me, but I thought he would have no choice but to pay you in dollars as I believe Equidor is one of only a few nations that has adopted the US dollar as its only legal money. I.e. Equidor has no currency of its own, as I recall. They just had a presidential election there and I think the left won. One of the things they will change is to revive their own currency, get off the dollar. Is my memory wrong, or do you not really have an Equidorian employeer?

 

On thread's question: Much as it presently is. This others have noted in comments about most transactions being electronic and the relative value of the different local currencies they are nominally in, is know at any time to about 5 or 6 decimal places in the international exchange markets.

The main difference with one universal currency, I think, is that it would be impossioble to specualted against one currency using another, if there were only one. For example, George Sores, who broke the British pound a few years ago, using the dollar to do it, could not have done that if only "world credit units" existed.

Also I want to note, that although currency certainly faciltates trade, that is only its minor function, compared to being a "store of value." For example, on a daily average, I use less than 0.000,001% of my money (paper curency and electronic credits, including stocks and other very liquid assets as money) to buy things. The other 0.999,999% I use to "store value." Even the poorest reader here, I am sure uses money more as a "store of value" than for purchases. This "store of value" feature is somethng very important that a barter system can not achieve to any comparable extent.

 

According to William Guy Carr, in Pawns In The Game,42 the initial meeting of these ex officio planners took place in Mayer Amschel Bauer's Goldsmith Shop in Frankfurt in 1773. Bauer, who adopted the name of "Rothschild" or Red Shield, from the red shield which he hung over his door to advertise his business (the red shield today is the official coat of arms of the City of Frankfurt), (See Cover) "was only thirty years of age when he invited twelve other wealthy and influential men to meet him in Frankfurt. His purpose was to convince them that if they agreed to pool their resources they could then finance and control the World Revolutionary Movement and use it as their Manual of Action to win ultimate control of the wealth, natural resources, and manpower of the entire world. This agreement reached, Mayer unfolded his revolutionary plan. The project would be backed by all the power that could be purchased with their pooled resources. By clever manipulation of their combined wealth it would be possible to create such adverse economic conditions that the masses would be reduced to a state bordering on starvation by unemployment... Their paid propagandists would arouse feelings of hatred and revenge against the ruling classes by exposing all real and alleged cases of extravagance, licentious conduct, injustice, oppression, and persecution. They would also invent infamies to bring into disrepute others who might, if left alone, interfere with their overall plans... Rothschild turned to a manuscript and proceeded to read a carefully prepared plan of action.


1. He argued that LAW was FORCE only in disguise. He reasoned it was logical to conclude 'By the laws of nature right lies in force.'


2. Political freedom is an idea, not a fact. In order to usurp political power all that was necessary was to preach 'Liberalism' so that the electorate, for the sake of an idea, would yield some of their power and prerogatives which the plotters could then gather into their own hands.


3. The speaker asserted that the Power of Gold had usurped the power of Liberal rulers.... He pointed out that it was immaterial to the success of his plan whether the established governments were destroyed by external or internal foes because the victor had to of necessity ask the aid of 'Capital' which 'Is entirely in our hands'.


4. He argued that the use of any and all means to reach their final goal was justified on the grounds that the ruler who governed by the moral code was not a skilled politician because he left himself vulnerable and in an unstable position.


5. He asserted that 'Our right lies in force. The word RIGHT is an abstract thought and proves nothing. I find a new RIGHT... to attack by the Right of the Strong, to reconstruct all existing institutions, and to become the sovereign Lord of all those who left to us the Rights to their powers by laying them down to us in their liberalism.


6. The power of our resources must remain invisible until the very moment when it has gained such strength that no cunning or force can undermine it. He went on to outline twenty-five points.


Number 8 dealt with the use of alcoholic liquors, drugs, moral corruption, and all vice to systematically corrupt youth of all nations.


9. They had the right to seize property by any means, and without hesitation, if by doing so they secured submission and sovereignty.


10. We were the first to put the slogans Liberty, Equality, and Fraternity into the mouths of the masses, which set up a new aristocracy. The qualification for this aristocracy is WEALTH which is dependent on us.


11. Wars should be directed so that the nations engaged on both sides should be further in our debt.


12. Candidates for public office should be servile and obedient to our commands, so that they may readily be used.


13. Propaganda--their combined wealth would control all outlets of public information.


14. Panics and financial depressions would ultimately result in World Government, a new order of one world government."



Also the video named 'The Money Masters' is interesting.

 

May make for an interesting story, but that is all it is as the foundation is false. Wealth is not some finite mass of gold, or any static thing. Wealth is PRODUCED by meeting the needs (real or created) of people. You do know who is world’s wealthiest man do you not? - B. Gates, and probably all but one or two of the 100 wealthiest people on the planet CREATED wealth.

Again the story's premise is badly flawed - Wealth can not be hoarded and controlled. - It must be created.

I am investing mainly in small developmental drug companies as that is where great wealth is being created today.

 

Why, are people getting sicker?

 

People are living longer, usually working longer or at least increasing their wealth over more years and able to afford larger medical bills, more expensive drugs etc. but mainly amazing things are now being understood about interaction between cells and their environments, which permit truly magic bullets to be developed to kill just a specific cancer cell type - I.e. zero toxicity to normal cells, etc.

One company I recently took a stock position in (will not say which as I am still trying to pick up some more on any dips) has a drug in large Phase III "double blind" placebo controlled test for heart disease. The test is "event driven" and was expected to be "unblinded" about now, but they are far short of the number of deaths required to open the coded data to learn who has been getting the placebos. Fantastic advances have been made in the last few years with a class of drugs called "satins" but when you do a factor analysis on their effectiveness, it is only taking care of about 20% of the problem. As I read the data avilable the drug this company is testing may have essentially a cured for heart disease. (It goes after the coronary inflammation not the LDL cholesterol, which is now generally believed to be the real problem.) If that POV is confirmed, they are the owners of a 100 billion dollar drug.

Almost all of "big pharma" is in deep pipeline / patent trouble. (I do not own any of them.) I have been trying to spot the small developmental companies they need to acquire. On 15 Dec 06 Merck paid me $39,000 for my 3000 sh RNAi and on 4 Jan 07 Abbott labs paid (by chance) the same amount for my 500sh of KOSP. Both took approximately 100% one-day steps up when the news broke, but I had a nice profit in them a year earlier. (Nice to have it fall into two different tax years. I am reasonable sure that within a year or two some of 6 others of the 17 or so I now hold will also be discovered by "big pharma" as suitable "gap fillers" in their pipelines or as replacement for expiring patents. (6 others I hold may not have had any rise in share price a year from now and a few will belated discover their drug has serious problems and go “bellyup.”)

I love to learn. In this internet age I can watch the company presentations at important meeting from my living room in Brazil. The most important annual one just concluded in San Francisco a week or so ago. - While it was in progress, I took positions in nine new small drug companies*, the one with what may be a potential cure for heart disease, while the talk was still in progress. - I.e. when they announced events were running significantly behind expectations. I made almost $4000 in a few hours. - I understood and could act faster on this news than people sitting in the lecture hall in San Francisco with their cell phones off! - It is an amazing world we live in now!
--------------------
*Several of them I already was considering and the presentation was only the final confirmation. I do not pay much attention to the price as I tend to buy and hold and believe even for these small companies the market is "efficient" and no one really knows what is going to happen. - I just like the small companies working innovatively in the critical disease drug sector as I am learning some fascinating facts, even if I do not make money at it. As I also fear the dollar collapse, I hold about equal value in ADRs, which have been very good to me as I saw the dollar collapse coming years ago and got out of dollars to the extent I could (tax considerations keep much of my retirement pension in the US still, but more than half of it is now in TIPs, not very exciting but at least will not wipe out in printing press money.) The irony is that for the last five years I have not been trying to "make a bundle" - just to protect the purchasing power of what I had, but as others are now doing this, they have driven some of my older ADRS are up 4 to 500% and one, the water company of Sao Paulo's ADR (SBS), which I bought below 5 is now trading in the 30 to 35 dollar range. It is possible the TIPs will do the same - no one likes them now, but when the US must run the presses to pay off notes, which foreign banks will no longer roll, everyone will want inflation protection.

Because it would be imprudent for me to further increase my position, I will mention one you might want to investigate as it is both and ADR, and has via a company it 100% owns a patent lock on an entire new field (“dindrimers”, with application far beyond medicine and already marketed products) and NIH and the Australian government so excited that they are essentially fully funding their anti-viral dindrimer STD drug tests, (broad spectrum from herpes thru Aids) keeping them debt free, which is very unusual for early stage drug company that has not “partnered away” it future. CEO is a woman and product is discretely used before sex by woman without partner’s needing to know - very important in third world where women often can not say "no." Recent studies done at Johns Hopkins show it is also a contraceptive, at least in rabbits. They only trade as “pink slips” (SPHRY) in US and the market is very thin - some days none trade, so do not put your lunch money into them. More on them at www.starpharma.com where you can see the neat simple vaginal insertion tube used to apply the dindrimer drug carrying jell. Because technically drug is an “external cream“, not inside the body, the path thru FDA is easier, but as this is the first drug of this class, the rules must be written still. I expect to make a bundle on them. - your buying some will help speed that day. It has not yet gone up - just bounces around on low volume - if there is some law or rule against this type of information please understand I am not recommending them (You decide) and I do have a vested interest in them.
My post are always too long -so this one, in celibration of my 4000th post, has a reward at the end for my loyal readers.

Please Register or Log in to view the hidden image!

 

Mary has the correct answer

 

http://www.sciforums.com/showthread.php?t=62668

GLOBAL CURRENCY DID YOU SAY??

-MT

 

To MT:

Thanks for inserting that link here. I was missing your entertaining posts; feared your reception at UN had collapsed your faith, etc.

I see (point 3 of your link) that “Faith Notes” are no longer to be based on the “wealth of the cosmos,” but now on the “wealth of Antarctica.” Unfortunately, as was the prior case, the cost of extracting mineral wealth etc. from there is still much more than from more hospitable spots on Earth, where for example one need not use expensive lubricants that are not frozen solid in the mining equipment, to mention just one minor technical problem (which I hope you can understand) that adds to the extra cost.

Getting mining equipment down to the rock surface thru 1000 or more feet of ice is a huge cost problem you may also be able to understand. In Sao Paulo, a couple of weeks ago, seven men died working inside a hole about 30 meters in diameter and only 30 meters deep, even thought it had a circular concrete retaining wall. (A section of the wall collapsed and buried them.) This hole was one of several along metro line under construction. It was used to lower horizontal drilling equipment down to the metro level and to extract the dirt etc. (It would take decades longer and cost much more money to tunnel from only one end of the new metro line.)

Ice is very “plastic” under pressure (why glaciers flow). How thick and costly do you think the steel retaining walls will need to be in your access holes below 1000 feet of ice? (Cheaper concrete will not set up against the ice at - 30C. - I am not sure, but doubt you can even reliably weld steel plates together at this temperature.)

This “access hole wall” cost alone (and you have not even started to mine!) will make any mineral extracted from the rocks of Antarctica at least four times more expensive than extracting the same ore from some place like South Africa. - No one in their right mind, with even the slightest intelligence will have faith in in your “Faith Notes” - try again, perhaps relocating again, as you did from “cosmic wealth” backing of your "Faith Notes.” The cost of ore from Antarctica is still more than 15 times too high to be competitive.

Did you really think the non-loving, greedy, capitalist, simply failed to think of extracting ore from Antarctica as you “cleverly” have? I think you are sincere, not just very miss guided and ignorant. It is good you have droppend the notion of your being "King of the Universe", to see all goes as you planned, but you have missed your calling. - You would make a great snake-oil salesman!

 

The only way global currency can work is if every place produces the same things and on the same level. We already have one currency but of different values.

 

Not the same things and levels. - Each what they can do best and then some trade. Often what one is really trading in the modern world is acquired skills and currency is just a convenient automatic "book keeping" scheme. E.g. the more highly skilled dentist trades an hour of tooth filling for six hours of orange picking, street cleaning, car washing, etc. skills. Likewise, because of natural advantages, Brazil trades a boat load of coffee to Norway for the same boat loaded with dried cod on the return trip.

Your other point that in effect, we already have a universal currency (via international exchange markets) is 100% correct.

 

BILLY.... who said anything about... giving up the solar system?

again... i think you didnt actually read any of it.

and its the oceans, which will offer the best returns in the short term.

antartica.... is to be mined.. simply because it is there.

it is not the focus.

-MT

 

Obviously I skimmed a little. - I made specific reference to your section 3, but I admit that 80+% was not even skimmed. (I have this policy about roughen eggs - not necessary to eat all.

Please Register or Log in to view the hidden image!

)

PS You did not answer my question on Antarctic mining. Namely:

How thick and costly will the steel tube be down thur 1000+ feet of ice? - The Access tube, perhaps 100 feet in diameter thru which the mining equipment can be lowered and the ore removed without immediate plastic flow collapse of the ice. I estimated that that alone will make your ore at least four times too expensive to be sold. (Recall it must be steel as concrete will not harden at -30C etc.)

 

YOU HAVE LITTLE VISION....

i would not propose to dig holes in ice...

i would propose to do core sampling... to find good bet locations.

and having done so... i would build a mostly robotic army of nuclear powered ore processing equiptment... which like a giant worm..

would grind its way down... and do all the digging and processing itself..

and would surface once it is full of gold or other prescious metals.

until that happens.. it just keep digging and eating....


if we can build nuclear submarines.... we can build nuclear digging and tunneling equiptment.... and just add the ore processing.



the idea... is to create a massive market by taking on the goal.

the goal... of mining.... mining the earth..

antartica.... is just one spot.. a difficult spot i admit.

-MT

 

national pride... is a good thing..

my proposal... doesnt dimminish a nations sovereignty....

it mearly provides benefits to those nations, by establishing a new world federation, which is designed... in everyway.. to serve.

to serve the nations... not the other way around.

-MT

 

to MT:
Thanks again. Your posts, especially 55, are quite entertaining.

PS - Is the concept of "capital cost" entire new to you when speaking of this nuclear power plant powered worm eating thru the rocks until it finds a little gold? When it breaks a tooth, you will still have bond interest to pay - probably about a million dollars / day.

 

IF WE ESTABLISHED A WORLD FED.... billy... we could change that...

with a new currency....

read the whole text... then you can really challenge it.
its only 8 pages.

i thought you were an intelectual?

i guess i was wrong.

-MT