We can start to see how the one-world currency comes into play with BIG BANG. The more these governments try to manipulate the outcome of the free markets, the worse everything becomes. I met with members of the board in charge of the Swiss/Euro Peg just before the Berlin Conference. I explained that no peg has ever lasted and Bretton Woods stands as witness to that in recent memory no less the Pound/DMark Peg that made George Soros famous. Pegs only suppress the free market, they cannot prevent the eventual outcome.
The G20 wants the Fed to surrender its domestic policy objective to serve external policy objectives. The Fed cannot and will not take that action. For when the stock market rises on an influx of foreign capital, they will see no other choice but raise rates. Everyone domestically will blame the Fed for low rates creating the bubble. They will set off a major debt crisis outside the USA by raising rates, but if they don’t they will be blamed for the Phase Transition into stocks from outside the country precisely as the bubble was created in Japan with the rising yen going into 1989.95.
This is all part of the crisis we have in the total lack of understanding the global economy. This is what I am warning about that politicians cannot stand up and even promise change when the influences are external. ONLY those of us who have actually dealt internationally can see what is unfolding. The rest are confined by their traditional interventionist views that a local government can manipulate its economy irrespective of the world as Marx and the Keynes argued. Sorry – we are all connected.
We will be moving toward a one-world currency as everyone starts to comprehend that allowing one nation’s currency to serve as the world reserve currency, imposes obligations upon that nation that will be in conflict with its domestic policy objectives.
Full article: Setting the Stage for the One World Currency (Armstrong Economics)