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Wednesday, May 9, 2007

Goodbye U.S. dollar, hello global currency

"Benn Steil, writing in the current issue of CFR's influential Foreign Affairs magazine, says 'the world needs to abandon unwanted currencies, replacing them with dollars, euros, and multinational currencies as yet unborn.'

In the article, 'The End of National Currency,' Steil clearly asserts the dollar and the euro are temporary currencies, perhaps necessary today. He argues 'economic development outside the process of globalization is no longer possible.'

"His inevitable conclusion is 'countries should abandon monetary nationalism.'"

Go to http://wnd.com/news/article.asp?ARTICLE_ID=55595

2 comments:

David Wozney said...

A “Federal Reserve Note” is not a U.S.A. dollar. In 1973, Public Law 93-110 defined the U.S.A. dollar as consisting of 1/42.2222 fine troy ounces of gold.

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