According to Deutsche Bank analysts Daniel Brebner and Xiao Fu, gold is ânot really a commodity at all.â Berbner and FuÂ explain:Â âWhile it is included in the commodities basket it is in fact a medium of exchange and one that is officially recognized (if not publically used as such). We see gold as an officially recognized form of money for one primary reason: it is widely held by most of the worldâs larger central banks as a component of reserves.â
Gold is deemed âgood moneyâ and fiat currency is represented as âbad moneyâ because the central banking cartels confuse the worth of paper over precious metals to keep the populace in the dark as to currency value to claim a monopoly over worth and circulation as well as hoard precious metals for consumption purposes.
Berbner and Fu further elaborate that: âFiat currencies physically have no use other than that which is prescribed to them by government and accepted by the public. That fiat currencies cost little to produce is of a secondary concern and we believe, quite irrelevant to the primary purpose.â
This month, the Vatican has announced their support of a new global bank. They have endorsed the UNâs endeavor toward global governance over all fiat currency â as long as they are anointed to participate in the sovereign powers of such an institution.
The VaticanÂ believesÂ that the Bible imbues them with âsuper authorityâ over any emerging global financial system. This may explain how they have been used as a shell bank for JPMorgan Chase and other private banking corporations as a money laundering house. These actions by the lackeys for the central banking cartels have evaded persecution and criminal retribution amid mysterious deaths such as Cardinal Paul Marcinkus in 2009 in Arizona after being involved with money laundering for international criminal syndicates.
Having the current incarnation of a global over-reaching religion that pacifies millions of people worldwide on the board of directors of a world bank that controls all fiat currency would be advantageous for the global Elite, as well as the papal bankers.
Propaganda supporting a one world currency pervades the mainstream.Â Paul Solman,Â correspondent for the PBS NewsHour purveys the positive propaganda of one world currency by asserting that: âAh, the dream: one world, one economy, one currency â and, of course, one global political system . . . a common currency means a common economic policy . . .â
Likewise, TheÂ Institute of International FinanceÂ (IIF), a group of technocrats that represent 420 banking cartels and financing houses have joined the cry for a one world currency.
Charles Dallara, managing director of the IIF, said: âA core group of the worldâs leading economies need to come together and hammer out an understanding. The narrowly focused unilateral and bilateral policy actions seen in recent months â including many proposed and actual measures on trade, currency intervention and monetary policy â have contributed to worsening underlying macroeconomic imbalances. They have also led to growing protectionist pressures as countries scramble for export markets as a source of growth.â
In May, The UN Conference on Trade and Development (UNCTAD) has issued aÂ reportÂ that proposes that the current system of world currencies and capital rules that govern the worldâs economy need to be altered in order to stabilize our economic crisis.
UNCTAD wants to see the BRICs countries, known as the non-aligned nations, considered surplus nations, cut their imbalances, thereby taking the financial burden off of the UK and US as upholding the global reserve currency. A global monetary system that replaces the US dollar as the global reserve currency will accomplish this goal.
The UN proposes a complete overhaul. In theÂ reportÂ âAdapting the International Monetary System to Face 21st Century Challengesâ, they call for âmore intense debate on and reforms to the international monetary system imply that the current system is unable to respond appropriately and adequately to challenges that have appeared, or become more acute, in recent years. This paper focuses on four such challenges: ensuring an orderly exit from global imbalances, facilitating more complementary adjustments between surplus and deficit countries without recessionary impacts, better supporting international trade by reducing currency volatility and better providing development and climate finance. After describing them, it proposes reforms to enable the international monetary system to better respond to these challenges.â
They recommend movement toward a global currency that will replace all current currencies. Revaluation will be accessed and the worth of money would redistribute with oversight of the IMF, WTO and ultimately the UN.
In April, at the BRICs summit in New Delhi, the leaders in attendanceÂ discussedÂ how to move away from the US dollar as the global reserve currency. Vladimir Putin, president of Russia, explained: âOne of the priorities of BRICs for the years to come should be the strengthening and key role of the UNâs Security Council in maintaining international peace and security. And also ensuring that the UN is not used as a cover for regime change and unilateral actions to resolve conflict situations.â
BRICsÂ surmisedÂ that a âbasket currencyâ could allow non-aligned countries to trade with each other without the fears that the central banks and their fiat currency entail. This would serve as an alternative to the US dollar and the Euro. It would empower other nations to rise up economically.
In a stance against the US dollar, BRICs countries have already begun to trade amongst themselves using approved currencies that are backed by precious metals. The IMF and World Bank are alarmed by this move and highly disapprove of it.
At the same time, China wasÂ stock piling goldÂ to back-up their fiat currency. The purpose is to secure their countryâs future by converting fiat to exchangeable currency, as well as use it as a leveraging tool to assist failing nations as insurance for a favor at a later date.
Subversively, the Obama administration made investing in America easier for China. China was able to buy 35% of any auction of US Treasury bonds. This was achieved through proxy. By the intent of Ben Bernanke, Chairman of the Federal Reserve Bank (Fed), China may have been broken financially through inflation brought on by the Fed.
Because Bernanke values the US dollar, he knows ahead of time what he will have to pay and can set up the perfect situation to make sure he pays what he wants.
Inflation is a direct result of the actions by the Fed. They print fiat US dollars in excess of the available monies and flood the monetary system. This drives prices higher because it takes more US dollars to equal the amount of a US dollar. Currently, the US dollar is sitting at a worth ofÂ $03.8 cents.
At a Senate Budget Committee meeting in April, Bernanke used fear to coerce lawmakers on Capitol Hill. He stated: âSustained high rates of government borrowing would both drain funds away from private investment and increase our debt to foreigners, with adverse long-run effects on US output, incomes, and standards of living. Moreover, diminishing investor confidence that deficits will be brought under control would ultimately lead to sharply rising interest rates on government debt and, potentially, to broader financial turmoil. In a vicious circle, high and rising interest rates would cause debt-service payments on the federal debt to grow even faster, resulting in further increases in the debt-to-GDP ratio and making fiscal adjustment all the more difficult.â
Just this past week, BernankeÂ announcedÂ QE3, an indefinite purchasing of mortgage-backed securities at $40 billion per month which will devastate the US dollarâs value through infinite printing of fiat and a âregressive redistribution programâ.
The central bankers are intentionally destroying the US dollar because out of the ashes, they have planned a global fiat that will eventually replace all fiat across the world.