by Morley Evans
"By dealing in other currencies than the US dollar, including in gold, world demand for the dollar will rapidly decline and so will the dollar’s significance as a world reserve currency.
"Some 20 years ago, about 90% of all reserves were established in US dollar denominated assets. Today, this figure is less than 60% and shrinking. Once dollar-denominated reserves fall below 50%, abandoning the dollar as reserve currency worldwide may progress rapidly. That’s when a last-ditch effort by Washington to save the dollar hegemony may come in the form of a new gold-standard – at the cost of the countries that hold dollar reserves.
"The western economy today and for the last at least 100 years has been based on a fraudulent, debt-driven privately-owned and manipulated monetary system – on fiat money. When in reality, it should be the economy of a nation or a region that makes and backs the monetary system.
"If I may, I predict that in the foreseeable future, it will not be gold or other minerals that back a monetary system, but the economy itself; the strength of a country’s – or association of countries’ – socioeconomy that determines the monetary system. The strength of an economy will be determined by indicators well beyond the linear GDP; they will include societal values, such as education, health services, and behavioral values, like how a society deals with the environment, natural resources and conflict resolutions.
"This is what I believe the new Eastern Economy, based on China and Russia – the Economy of Peace – will offer to the world as an alternative."
- Peter Koenig
READ MORE:
http://www.informationclearinghouse.info/47769.htm
No comments:
Post a Comment