Geithner Onboard for Global Currency

What a week.

On Tuesday, when Treasury Secretary Tim Geithner was asked by a lawmaker if he would “categorically renounce the United States moving away from the dollar and going to a global currency as suggested by China,” he immediately responded, “I would.”

Then, one day later, Mr. Geithner spoke to the Council on Foreign Relations (CFR) and said he was “open” to the Chinese proposal to replace the dollar with a new international reserve system.

This is precisely what people worried about the onset of one-world government have warned about for decades. The creation of a global currency, they said, would be the first step.

The CFR, incidentally, has been pushing for one. In the May/June 2007 issue of Foreign Affairs, Benn Steil, the director of international economics at the Council on Foreign Relations wrote that “globalization and monetary nationalism are a dangerous combination, a cause of financial crises and geopolitical tension. The world needs to abandon unwanted currencies, replacing them with dollars, euros, and multinational currencies as yet unborn.”

Apparently, we’re ready for that last category.


[Mr. Geithner said,] “We’re actually quite open to [the Chinese proposal to replace the dollar with a new international reserve system] — you should see it as rather evolutionary rather building on the current architecture rather than moving us to global monetary union.”

However, any move away from the dollar and towards an international reserve system, including the use of “special drawing rights” — a synthetic multinational currency maintained by the IMF, cannot be defined as anything other than a move towards a global monetary union.

The continued use of the dollar as a reserve currency, he added, “depends..on how effective we are in the United States…at getting our fiscal system back to the point where people judge it as sustainable over time.”

By that standard then, the dollar is a dead duck.

Treasury Secretary Geithner has played a leading role in the wholesale looting of the greenback, announcing this week that the printing presses will be cranked to the tune of at least another $1 trillion to buy more “toxic assets” from the sagging balance sheets of failing institutions — again, all at the expense of the taxpayer who will pay for it with rampant tax hikes and runaway inflation on fuel and food later down the road.

Geithner’s double-dealings are nothing less than traitorous. While publicly downplaying the demise of the dollar and the birth of a global currency, his every action is greasing the skids for that very scenario to unfold. In the meantime, he’s careful to assure the anti-American fifth column Council on Foreign Relations, who have vehemently lobbied for a global currency, that the agenda for a world monetary union, a key cog in the pursuit of world government, is right on track.

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