The Global Financial Crash

Truthrevolution

Brooksley Born of the Commodity Futures Trading company - a Federal Regulatory agency - has stated that not only did she warn of the potential economic meltdown, she tried to get the key economic powerbrokers to take action which would avert the crisis.But as Born said "They were totally opposed to it".
In the video below Micheal Kirk unearths the hidden history of the secretive, multi-trillion dollar derivatives market which crashed and triggered the global financial crash in 2008.Was this crash ENGINEERED? A lot of evidence seems to suggest it was.

http://news.goldseek.com/Goldseek/1266476520.php

Truthrevolution

My link seems to have been blocked if you cant get the video above try this link instead

http://www.pbs.org/wgbh/pages/frontline/warning/view/

robtri

cant see the video on work laptop...
care to share what the video goes into....
what is the evidence presented???

Truthrevolution

So where were we then, did you get a chance to watch that video yet? Id highly recommend you do as it will really open your eyes as to what is going on

robtri

Truthrevolution wrote: »

So where were we then, did you get a chance to watch that video yet? Id highly recommend you do as it will really open your eyes as to what is going on

i did....
interested to know your thoughts on it... why you think its eye opening?? what was it that really caught as i didnt know that...
do you think there is sufficient evidence to support this...

Truthrevolution

robtri wrote: »

i did....
interested to know your thoughts on it... why you think its eye opening?? what was it that really caught as i didnt know that...
do you think there is sufficient evidence to support this...

Its hard to know where to start, Borns attempts to investigate Federal Reserve fraud which were quashed, Greenspan refusing to allow any regulation of the market, Clintons financial advisor at the time stating he knew the derivatives market was going to crash, Summers and Rubin getting jobs under the Obama adminisration despite the economic crimes they commited.Of course its only the tip of the iceberg what we found out in that video

robtri

Truthrevolution wrote: »

Its hard to know where to start, Borns attempts to investigate Federal Reserve fraud which were quashed, Greenspan refusing to allow any regulation of the market, Clintons financial advisor at the time stating he knew the derivatives market was going to crash, Summers and Rubin getting jobs under the Obama adminisration despite the economic crimes they commited.Of course its only the tip of the iceberg what we found out in that video

persoanlly I think its all BS... reason being too many people where tellign the same thing that this can never last... it cant go on...
its going to crash... a lot of people had similar opions...
she expressed her opinion in 1999 ... too far away to be connected at all

mysterious

We are in a finacial crash who would of thought 2 years ago it would get this bad. Its on par with the 80s if not worse, because in the 80s there was no money to begin with and money had to come from somewhere. This time people are LOSING money fast, all the money they had accumalated during the "celtic tiger delusion" People are up to their eyeballs in debt that will not reach the balance. it's going to get really bad unfortunately. Which is why I have said here and many forums, people who are materilistic and dont have faith in the higher power, are ****ed. There is no way in hell your gonna get through this if you can't see just how serious this is. We are been forced to take total responsibility for our entire existence good or bad. It doesn't matter. The illuminati have no control. As bad as people think they are, you still gave them the power to enslave you. Because most of us rather not deal with responsibility, reality and truth. We don't even want to think, reflect or become aware of the very real things in life that we should be more intune with.

But to my point
The real scary part is how in gods names can the bank actually reposesse homes if nearly half the country are on oversubstantial mortgage payments. House prices are still falling. It's really deceptive that the government said things were getting better before xmas (which I knew it weren't) People are still losing their jobs.

Oh and finacial crashes are staged. Its nothing new and the **** has only just begun to fly.

robtri

mysterious wrote: »

But to my point
The real scary part is how in gods names can the bank actually reposesse homes if nearly half the country are on oversubstantial mortgage payments. House prices are still falling. It's really deceptive that the government said things were getting better before xmas (which I knew it weren't) People are still losing their jobs.

Oh and finacial crashes are staged. Its nothing new and the **** has only just begun to fly.

what are you basing this opinion on that it hasnt gotten better???
or are you just speculating....

mysterious

robtri wrote: »

what are you basing this opinion on that it hasnt gotten better???
or are you just speculating....

Using my brain.

robtri

mysterious wrote: »

Using my brain.

what is your brain basing this on....
or is it just pure fantasy

Yitzhak Rabin

I think that things are not getting better, and I don't see them getting better for quite a while. Here are the ten reasons I think Ireland is fooked! This is a copypasta of a post of mine on another forum.

First, I believe in the model that there were two "Celtic tigers" - no.1 in the late 90s when multinational investment was flooding in, and no.2 when the country went mad borrowing for property. The key takeaway here is that the conditions that prompted no.1 cannot return - Ireland being the only English-speaking country in the Eurozone with the euro weakening rapidly and a huge educated labour force (thanks to demographics and all those expats willing to return). Now the euro is expensive, Ireland is expensive, and Ireland isn't even seen as a keen Euro member any more.

Second, there is only one way interest rates can go from here. When they're kissing zero, this is obvious.

Third, unemployment has vaulted from 100k to 400k and yet the number of repossessions is still measured in dozens. This means - must mean - that every bank in Ireland has tens of thousands of delinquent mortgages on its books.

Fourth, what I said in 3 can only get worse as thousands of the newly redundant move from jobseeker's allowance to benefit after exhausting their time window (or the other way around, I forget which is which)

Fifth, we know all the banks are bust, big time. They are kept alive through promises of NAMA (based on hopelessly optimistic parameters which have already been exceeded) and government capital injections. These illusions are rapidly fading and talk of outright nationalisation is back in the open. There is no conceivable way in which these institutions can inject credit back into the economy at any point in the near future

Sixth, the psuedo-nationalised banks have been prevailed upon to halt foreclosures. I take no joy in the human misery of repossession but the numbers are remorseless: thousands of people are in homes they cannot possibly afford (see 3) and this problem is only going to get worse over time (see 4) and this is damaging the banks we collectively own now or will soon (see 5). Sooner or later the big banks, not just the subprime lenders, will have to start to move to mass repossessions

Seventh, many people have commented on one downside of the govt guarantee of the banks, the huge cost. Few are talking about the other downside of the moratorium on repossessions in a time of falling property prices: every day, the collateral against which those loans were advanced loses value. Noone sheds a tear for banks but this is the drip drip drip which will eat away at those institutions and force us to make capital injection after capital injection

Eighth , when the dam breaks the banks will be forced to put huge numbers of houses on the market. This will obviously hammer property prices again.

Ninth, NAMA will sooner or later be forced to do the same thing

Tenth, the government doesn't have the money to bail out all the banks and the depositors and bondholders and so on. We're already facing the very real threat of sovereign default. In fact without Greece (luck of the Irish) making us look comparatively responsible, Irish bonds would be under even greater pressure. But no matter what happens there is one thing we do know: the government can't possibly afford to sustain current spending levels and (see all above) there is little hope of tax revenues returning to their former levels any time soon. This means large scale layoffs in the public sector are inevitable in the next two years.

So to summarize: huge levels of mortgage default this year as the delayed effect of mass unemployment seeps through; capital injections and mass repossession as the banks try desperately to stay alive; a private sector flat on its back and a public sector forced to shed jobs as the govt (still trying to prop up the banks) runs out of cash

And if none of those reasons float your boat then, you can always blame it on the interdimensional shape shifting lizards. :pac::pac:

mysterious

robtri wrote: »

what is your brain basing this on....
or is it just pure fantasy

Reality.

Truthrevolution

robtri wrote: »

persoanlly I think its all BS... reason being too many people where tellign the same thing that this can never last... it cant go on...
its going to crash... a lot of people had similar opions...
she expressed her opinion in 1999 ... too far away to be connected at all

She actually predicted it back in 1998 but its more the way it happened as opposed to the timeline.The markets crashed almost exactly the way she said they would.Yes your right there have been a lot of economists sounding off the warning that there would be a crash, i dont think it was guesswork.People who know how the financial systems work knew the writing was on the wall.Greenspan was an economic wizzard with over 40 years of experience are we expected to believe that he made these schoolboy errors?? Greenspan and his federal reserve cronies definitely knew it was coming so why didnt they do something about it?? Even current federal reserve chairman Ben Bernanke knew this economic meltdown was coming.The only plausable explanation being they must have played a part in it.

Truthrevolution

Just came across this article this morning which talks about the role Goldman Sachs played in the economic crash, how they subsequently raped the taxpayer, what they have been doing over the last 18 months and how they are going to condition another financial crash...

http://www.rollingstone.com/politics/story/32255149/wall_streets_bailout_hustle

Truthrevolution

Former AIB chairman (and Bilderberg regular) Dermot Gleeson obviously had previous knowledge of the impending financial crisis, he seems to have used it to his advantage.Just weeks before the economic crash he spent 900k on shares, how convenient.....

http://www.independant.ie/national-news/gleeson-paid-8364900k-for-shares-weeks-before-crisis-2062800.html

robtri

Truthrevolution wrote: »

Former AIB chairman (and Bilderberg regular) Dermot Gleeson obviously had previous knowledge of the impending financial crisis, he seems to have used it to his advantage.Just weeks before the economic crash he spent 900k on shares, how convenient.....

http://www.independant.ie/national-news/gleeson-paid-8364900k-for-shares-weeks-before-crisis-2062800.html

can i ask how buying shares before a crash, where the value of his investment hit the floor was a good move... surely it was bad....he would have lost a lot of money?????
he bought the shares for approx €6 each.. worth €2.19 today.... and i dont think from the time he bought them the increased in value beyond wht he paid for them..

robtri

Truthrevolution wrote: »

She actually predicted it back in 1998 but its more the way it happened as opposed to the timeline.The markets crashed almost exactly the way she said they would.Yes your right there have been a lot of economists sounding off the warning that there would be a crash, i dont think it was guesswork.People who know how the financial systems work knew the writing was on the wall.Greenspan was an economic wizzard with over 40 years of experience are we expected to believe that he made these schoolboy errors?? Greenspan and his federal reserve cronies definitely knew it was coming so why didnt they do something about it?? Even current federal reserve chairman Ben Bernanke knew this economic meltdown was coming.The only plausable explanation being they must have played a part in it.

interesting... would possibly agree with that line of thought... i got caught up in the timeline and not the specifics of how it happened...

Truthrevolution

robtri wrote: »

can i ask how buying shares before a crash, where the value of his investment hit the floor was a good move... surely it was bad....he would have lost a lot of money?????
he bought the shares for approx €6 each.. worth €2.19 today.... and i dont think from the time he bought them the increased in value beyond wht he paid for them..

Dont you think it was strange how he made this move just 10 days before meeting minister for finance Brian Lenihan, in which the government subsequently guaranteed all liabilities for the bank?? And who's money was he using??

robtri

Truthrevolution wrote: »

Dont you think it was strange how he made this move just 10 days before meeting minister for finance Brian Lenihan, in which the government subsequently guaranteed all liabilities for the bank?? And who's money was he using??

dont get me wrong i think it very strange.. and improper......
but considering he more than likely lost money on the deal .... it wasnt the right thing to do if he had prior knowledge to the events that where going to unfold..
he would have been better short sellin (i think i have that right)

Truthrevolution

robtri wrote: »

dont get me wrong i think it very strange.. and improper......
but considering he more than likely lost money on the deal .... it wasnt the right thing to do if he had prior knowledge to the events that where going to unfold..
he would have been better short sellin (i think i have that right)

He didnt lose a red cent, Irish taxpayers have stumped up the guarantee of AIB customer and interbank deposits as well as the vast majority of bonds

robtri

Truthrevolution wrote: »

He didnt lose a red cent, Irish taxpayers have stumped up the guarantee of AIB customer and interbank deposits as well as the vast majority of bonds

sorry, not 100% up on banking stuff...
he bought shares... which i dont think where covered by any gaurantee...
so he lost money...

johnnyskeleton

One giant pump and dump by who? China?

Is it a conspiracy theory if they are perfectly entitled to do it as a free market participant?

thecommander

I predict the next crash.

Torakx

Consider the situation back when a former president was trying to bring in the greenback which would have been backed by gold and actually by todays standards be legal(unlike our current monetary system backed by iou's which i think is fraud if you study maritime and common law).

Had he gotten his way there wouldnt be a built in mechanic in the monetary system to funnel money to the top of the pyramid.
Does anyone else ever look at the paper money we have and laugh?
I literally laugh sometimes and shake my head.
We live in a world where we have been fooled to believe swapping pieces of paper backed by nothing for materials and services is ok, even though that very system is built to spiral out of control at the push of a button so to speak.

All the crashes happened on purpose that should be obvious to all at this stage.
Back in 1930 odd or when ever the great depression hit there was chaos all over the world.
Does anyone think the relief when it came some time afterwards was a fix for the broken economy?Or was it a band aid used to support an ever failing system.
Taken from wiki
Monetarist explanations


Crowd at New York's American Union Bank during a bank run early in the Great Depression.


Monetarists, including Milton Friedman and current Federal Reserve System chairman Ben Bernanke, argue that the Great Depression was mainly caused by monetary contraction, the consequence of poor policymaking by the American Federal Reserve System and continued crisis in the banking system.

But they recognized the fault didnt they?
Surely the system was fixed so this inflation wouldnt happen again?
I believe it was not fixed.
The central banks only need to call thier debts from those below them and its starts a snowball effect.
Big banks and govs suddenly need money to pay there debts(when they dont they get bailouts ahahaa!..more debt? bigger snowball?).
So they look for whoever owe them and call it in.
Like a pyramid scheme everyone has to pass up there resources or money to pay the debt they owe and signed for.
The people on the bottom end up oweing more money or resources than they actually have available.

This ALL might not have been possible if when exchanging money backed by gold or something! The persons loaning would of had the gold in the first place instead of creating more money on the planet than there is people and resources to cover it!

Also according to maritime law afaik,any contract between parties must have due consideration.
This means you cant swap nothing for something, you have to bring something into the deal.
This is the law according to world trading standards.And the monetary system is fraud according to the maritime law.
It is therefore illegal to use money backed by nothing to purchase items of value.

The moneytary system is a pyramid scheme that is right in front of our noses.And its illegal.we are all criminals by law.

Truthrevolution

johnnyskeleton wrote: »

Is it a conspiracy theory if they are perfectly entitled to do it as a free market participant?

Its a conspiracy to commit economic crime if it contributes to the downfall of a bank or several banks.A financial expert being so careless with money like that there should have been serious questions asked, particularly when its taxpayers money that has paid for that mistake.

namloc1980

Truthrevolution wrote: »

He didnt lose a red cent, Irish taxpayers have stumped up the guarantee of AIB customer and interbank deposits as well as the vast majority of bonds

The purchase of shares on the stock market is not covered by any sort of Guarantee. Not sure what you are getting at??

robtri

Truthrevolution wrote: »

Its a conspiracy to commit economic crime if it contributes to the downfall of a bank or several banks.A financial expert being so careless with money like that there should have been serious questions asked, particularly when its taxpayers money that has paid for that mistake.

no money that i am aware of was paid to him to cover his losses on these shares.... and no taxpayers money was used as far as i know, but like to be shown to be wrong on this....

Truthrevolution

OK to put it simply, all these losses incurred by AIB were guaranteed through the government bailout.That bailout money has come out of the taxpayers pocket

robtri

Truthrevolution wrote: »

OK to put it simply, all these losses incurred by AIB were guaranteed through the government bailout.That bailout money has come out of the taxpayers pocket

no they wherent these where privately bought shares.. from his over paid job.... the government did not bail him out

namloc1980

Truthrevolution wrote: »

OK to put it simply, all these losses incurred by AIB were guaranteed through the government bailout.That bailout money has come out of the taxpayers pocket

Not sure what you are on about now but that's not what you suggested. You said Dermot Gleeson's purchase of shares was guaranteed by the government or something. That's simply untrue.

Truthrevolution

Guys if you read the article it clearly says that the government have guaranteed ALL LIABILITIES of the bank.That means they covered ALL LOSSES

namloc1980

Truthrevolution wrote: »

Guys if you read the article it clearly says that the government have guaranteed ALL LIABILITIES of the bank.That means they covered ALL LOSSES

You might also point out where they guaranteed the personal investments of Bank directors into the stock market please?

Actually I'll save you the time, they didn't.

robtri

Truthrevolution wrote: »

Guys if you read the article it clearly says that the government have guaranteed ALL LIABILITIES of the bank.That means they covered ALL LOSSES

personal losses of shareholders are not gauranteed under any of the financial acts or gaurantees....
not gauranteed at all...
bank liabilites are covered.
but these shares where purchased by an individual and not on behalf of the bank....

and even if they did cover them..... it would only cover his losses...so he would not make a profit.. which doesnt make sense either

Truthrevolution

robtri wrote: »

personal losses of shareholders are not gauranteed under any of the financial acts or gaurantees....
not gauranteed at all...
bank liabilites are covered.
but these shares where purchased by an individual and not on behalf of the bank....

and even if they did cover them..... it would only cover his losses...so he would not make a profit.. which doesnt make sense either

They covered ALL LOSSES of customers, shareholders, deposits, bonds, EVERYTHING

namloc1980

Truthrevolution wrote: »

They covered ALL LOSSES of customers, shareholders, deposits, bonds, EVERYTHING

No they didn't that's untrue and for someone with 'truth' in their name, all these untruths are quite funny! Do you honestly believe that as a customer of one of the covered Bank's or as a shareholder that you are covered from all losses?????? Seriously you need to look into this before you post about this topic. So all shareholders losses are protected???? seriously....thanks for letting me know. Now where do I send my bill for the losses I have made on my Bank shares??? Can you tell me the address I send it to?

namloc1980

Another thing if they have covered all shareholders, why isn't the entire world investing in the shares of Irish Banks??? I mean if your loss is guaranteed then you can't lose?? The reality is that the have guaranteed deposits held by customers in the Bank and the Bank's own debts on the interbank market. They have not guaranteed shareholders a single cent.

Truthrevolution

namloc1980 wrote: »

Another thing if they have covered all shareholders, why isn't the entire world investing in the shares of Irish Banks??? I mean if your loss is guaranteed then you can't lose?? The reality is that the have guaranteed deposits held by customers in the Bank and the Bank's own debts on the interbank market. They have not guaranteed shareholders a single cent.

Had a re-read of the article looks like you are right namloc they didnt actually cover shareholders

Torakx

I still dont think that one example of a bilderberg member appearing to lose alot of money is going to dissuade me from the conspiracy theory of the global financial crash recently to let alone all the ones before that.

At what stage do they learn to prevent recessions?
When will the economy stop acting like a living entity and start being a controlled system in the publics eye?
There is way to much going on for me to even for a minute think that somebody didnt have a hand in any of these recessions.
Especially with the one in the 1930's.
I would be grateful if somebody showed me solid evidence that it was not an intentional crash.
If it was intentional, i would appreciate someone show me why the others are with out doubt or even very likely not to have been the same idea with a different technique..it would set my mind at ease a bit for ireland for sure.

As it stands i can see us turning into a police state much like America and britain.And from the looks of what NAMA are up to maybe even a global currency in another 10 years or so.

namloc1980

Torakx wrote: »

And from the looks of what NAMA are up to maybe even a global currency in another 10 years or so.

Highly unlikely for a multitude of reasons including the nightmare of organising a global currency and the fact that the value of the currency would be vastly different in various part of the world making it virtually unworkable. The main reason there won't be a global currency though is because the foreign exchange market is the largest and most lucrative financial market in the world. Approx. $2 trillion dollars is transacted on the forex market EVERY DAY! That's over 5 times the amount that is transacted on all other markets in the world combined! There is no way a global currency will come in and market of over $2tn a day simply disappears.

As for economic booms and busts. They just happen. Ups and downs always happen and they always will.

amacachi

Torakx wrote: »

I still dont think that one example of a bilderberg member appearing to lose alot of money is going to dissuade me from the conspiracy theory of the global financial crash recently to let alone all the ones before that.

At what stage do they learn to prevent recessions?
When will the economy stop acting like a living entity and start being a controlled system in the publics eye?
There is way to much going on for me to even for a minute think that somebody didnt have a hand in any of these recessions.
Especially with the one in the 1930's.
I would be grateful if somebody showed me solid evidence that it was not an intentional crash.
If it was intentional, i would appreciate someone show me why the others are with out doubt or even very likely not to have been the same idea with a different technique..it would set my mind at ease a bit for ireland for sure.

As it stands i can see us turning into a police state much like America and britain.And from the looks of what NAMA are up to maybe even a global currency in another 10 years or so.

How to stop recessions? Have no growth, allow no speculation, no wealth creation, no private owning of property. Fantastic!
People vote for the candidates/party who promise more of the good stuff, which can't continue indefinitely.

Torakx

namloc1980 wrote: »

Highly unlikely for a multitude of reasons including the nightmare of organising a global currency and the fact that the value of the currency would be vastly different in various part of the world making it virtually unworkable. The main reason there won't be a global currency though is because the foreign exchange market is the largest and most lucrative financial market in the world. Approx. $2 trillion dollars is transacted on the forex market EVERY DAY! That's over 5 times the amount that is transacted on all other markets in the world combined! There is no way a global currency will come in and market of over $2tn a day simply disappears.

As for economic booms and busts. They just happen. Ups and downs always happen and they always will.

So you mean to say to start with the first major one during the great depression was from just the normal ups and downs of the economy based on the financial situation at that time?

Torakx

amacachi wrote: »

How to stop recessions? Have no growth, allow no speculation, no wealth creation, no private owning of property. Fantastic!
People vote for the candidates/party who promise more of the good stuff, which can't continue indefinitely.

I think the question is not how to stop really,as i was being slightly sarcastic.
It might be better for me to ask who is doing it.Somebody profited from this recession or can you tell me where all the money is coming from for these bailouts all over the world and if the debt is rising exponentially then how is that debt going to eventually be settled as appose to its current situation where there is more debt in the world than there is money or resources to pay it back?

infact can you see why debt is growing instead of leveling off worldwide?
Do you see how banks make loans and how that system works? if so does this not show you how debt is being created to the central banks of the world and federal reserve etc?

namloc1980

Torakx wrote: »

So you mean to say to start with the first major one during the great depression was from just the normal ups and downs of the economy based on the financial situation at that time?

Recessions and booms follow each other in an economic cycle. Some booms are bigger than others and some busts are worse all depending on the economic, geo-political and social scenarios at the time. Of course busts are created by people just as booms are.

amacachi

Torakx wrote: »

I think the question is not how to stop really,as i was being slightly sarcastic.
It might be better for me to ask who is doing it.Somebody profited from this recession or can you tell me where all the money is coming from for these bailouts all over the world and if the debt is rising exponentially then how is that debt going to eventually be settled as appose to its current situation where there is more debt in the world than there is money or resources to pay it back?

infact can you see why debt is growing instead of leveling off worldwide?
Do you see how banks make loans and how that system works? if so does this not show you how debt is being created to the central banks of the world and federal reserve etc?

I know how economics works and it's driven by everyone's greed, not just some fantastical "elite".

Torakx

namloc1980 wrote: »

Recessions and booms follow each other in an economic cycle. Some booms are bigger than others and some busts are worse all depending on the economic, geo-political and social scenarios at the time. Of course busts are created by people just as booms are.

I agree that those scenarios create these recessions and booms.But i am of the mind that these scenarios are engineered.
Have you seen zeitgeist as there is a good part based on that financial crash iirc.I wont say all zeitgeist is true.But do you mean to tell me its all lies even the financial crash of 1929?

namloc1980

Torakx wrote: »

I agree that those scenarios create these recessions and booms.But i am of the mind that these scenarios are engineered.
Have you seen zeitgeist as there is a good part based on that financial crash iirc.I wont say all zeitgeist is true.But do you mean to tell me its all lies even the financial crash of 1929?

Not sure what your question is? Can you elaborate?

Torakx

namloc1980 wrote: »

Not sure what your question is? Can you elaborate?

sorry i ment do you mean to say that the situation presented in zeitgeist is a lie?
But now thinking about it you probably havent watched it so howq would you know! lol
My bad.I am busy on msn also but if you dont fancy researching the ct on it i could attempt to research for your sake what the ct is exactly as to how the first crash happened.Which might give an idea on the rest or at least cast suspicion on the rest of the busts and booms on large scale situations.

found a youtube video that wasnt deleted.
Its actually taken from Zeitgeist.
If i can figure how to embed it now....

Torakx

https://www.youtube.com/watch?v=by430chzT98

Bingo!!
Take a look anyone who is wondering what im waffling about.It may be lies,so im open to a big debate on that,although im not well researched on this so i might need help

Truthrevolution

namloc1980 wrote: »

Highly unlikely for a multitude of reasons including the nightmare of organising a global currency and the fact that the value of the currency would be vastly different in various part of the world making it virtually unworkable. The main reason there won't be a global currency though is because the foreign exchange market is the largest and most lucrative financial market in the world. Approx. $2 trillion dollars is transacted on the forex market EVERY DAY! That's over 5 times the amount that is transacted on all other markets in the world combined! There is no way a global currency will come in and market of over $2tn a day simply disappears.

I think a global currency could very well be in the pipeline, heres a video of Russian president Medvedev unveiling a possible new world currency coin........

http://www.youtube.com/watch?v=rDiKsstR5M0&feature=related

Kind of throws a spanner into the theory that Russia is anti globalist.....

namloc1980

Truthrevolution wrote: »

I think a global currency could very well be in the pipeline, heres a video of Russian president Medvedev unveiling a possible new world currency coin.

The Russians and Chinese have been calling for a new world reserve currency for years and have become especially vocal during the current crisis. Their main issue though is down to the fact that the Russians and Chinese have no say in the two largest currencies in the world, the dollar and euro, so it is pretty obvious that Russia would push for a new reserve currency.

Anyway there is a world currency of sorts in existence already. The International Monetary Fund have been using SDR's (Special Drawing Rights) since the 1970's.