Let's Take Our Country Back

This is a very important article that was sent to me. Is our dollar on it's way out? According to the Bible it is. A number system is coming in line with Revelation 13: 16,17. THE COMING ONE-WORLD CURRENCY IRAN SAYS CAPITALISM ON VERGE OF COLLAPSE YnetNews.com reports: "Iranian President Mahmoud Ahmadinejad told regional leaders meeting in Tehran to discuss the global economic crisis that the capitalist system was close to collapse. Opening a one-day summit of the 10-nation Economic Cooperation Organization (ECO) including Turkey, Pakistan and other neighbors, he also suggested a ‘single currency’ should be used in trade between the group's members. ‘After the collapse of the closed socialist economy, the capitalist economy is also on the verge of collapse,’ Ahmadinejad said in his televised speech. ‘The liberal economy and the free market have failed,’ said Ahmadinejad, who often rails against the West. Iran, Turkey and Pakistan are the founding members of the organization, which was set up in 1985 and now includes seven other regional nations, Afghanistan among them... Ahmadinejad made a series of recommendations, including the creation of an ECO development and trade bank and currency cooperation. ‘The process of obtaining one single currency in the trade and exchanges among members, and in the next stages with other countries and neighbors, should be designed,’ he said..." (The New World Order is on the way as prophesied in Revelation 13:1, 7. It’s medium of financial exchange will soon take place --- the micro chipping of all of the world’s inhabitants - Revelation 13: 16 - 18. Recently, the Bilderbergs, the most secretive organization today outlined plans in a conference in Virginia for such a move in the immediate days ahead. See the next four articles for further confirmation of upcoming discontent and future plan for a new system.) CHINA 'WORRIED' ABOUT SAFETY OF U.S. TREASURIES The International Herald Tribune reports: "China, the world's biggest holder of United States government debt, expressed concern about the safety of those assets as American deficits have ballooned with costly stimulus and bailout packages aimed at rescuing the economy. The Chinese Prime Minister, Wen Jiabao, said the country was ‘worried’ about its holdings of U.S. Treasuries and called on the United States to provide assurances that the investments were safe, and that China was watching United States economic developments very closely. ‘President Obama and his new government have adopted a series of measures to deal with the financial crisis. We have expectations as to the effects of these measures,’ Wen said at a news conference in Beijing after the final session of the National People's Congress, the Chinese legislature. ‘We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried.’ China has the world's largest reserves of foreign exchange thanks to years of double-digit growth in the years that preceded the financial crisis that began in the United States in 2007. Beijing has been deploying much of its reserves in increased purchases of U.S. Treasuries and the financing of major investment projects designed to prop up flagging growth at home. Analysts estimate that nearly half of China's $2 trillion in currency reserves are invested in U.S. Treasuries and notes issued by other government-affiliated agencies. Those Chinese investments have helped assure the stability of the U.S. Treasury market despite the economic convulsions of the last year, and some economists have warned of alarming consequences should the Chinese investments stop propping up the market for American public-sector debt..." CHINA CALLS FOR NEW RESERVE CURRENCY The Financial Times reports: "China’s central bank proposed replacing the US dollar as the international reserve currency with a new global system controlled by the International Monetary Fund. In an essay posted on the People’s Bank of China’s website, Zhou Xiaochuan, the central bank’s governor, said the goal would be to create a reserve currency ‘that is disconnected from individual nations and is able to remain stable in the long run, thus removing the inherent deficiencies caused by using credit-based national currencies’. Analysts said the proposal was an indication of Beijing’s fears that actions being taken to save the domestic US economy would have a negative impact on China. ‘This is a clear sign that China, as the largest holder of US dollar financial assets, is concerned about the potential inflationary risk of the US Federal Reserve printing money,’ said Qu Hongbin, chief China economist for HSBC. Although Mr. Zhou did not mention the US dollar, the essay gave a pointed critique of the current dollar-dominated monetary system. ‘The outbreak of the [current] crisis and its spillover to the entire world reflected the inherent vulnerabilities and systemic risks in the existing international monetary system,’ Mr. Zhou wrote. China has little choice but to hold the bulk of its $2,000bn of foreign exchange reserves in US dollars, and this is unlikely to change in the near future. To replace the current system, Mr. Zhou suggested expanding the role of special drawing rights, which were introduced by the IMF in 1969 to support the Bretton Woods fixed exchange rate regime but became less relevant once that collapsed in the 1970s. Today, the value of SDRs is based on a basket of four currencies - the US dollar, yen, euro and sterling - and they are used largely as a unit of account by the IMF and some other international organizations. China’s proposal would expand the basket of currencies forming the basis of SDR valuation to all major economies and set up a settlement system between SDRs and other currencies so they could be used in international trade and financial transactions. Countries would entrust a portion of their SDR reserves to the IMF to manage collectively on their behalf and SDRs would gradually replace existing reserve currencies..." AT G20, KREMLIN TO PITCH NEW CURRENCY The Moscow Times reports: "The Kremlin published its priorities for a meeting of the G20, calling for the creation of a supranational reserve currency to be issued by international institutions as part of a reform of the global financial system. The International Monetary Fund should investigate the possible creation of a new reserve currency, widening the list of reserve currencies or using its already existing Special Drawing Rights, or SDRs, as a ‘super reserve currency accepted by the whole of the international community,’ the Kremlin said in a statement issued on its web site. The SDR is an international reserve asset, created by the IMF in 1969 to supplement the existing official reserves of member countries. The Kremlin has persistently criticized the dollar's status as the dominant global reserve currency and has lowered its own dollar holdings in the last few years. Both President Dmitry Medvedev and Prime Minister Vladimir Putin have repeatedly called for the ruble to be used as a regional reserve currency, although the idea has received little support outside of Russia. Analysts said the new Kremlin proposal would elicit little excitement among the G20 members. ‘This is all in the realm of fantasy,’ said Sergei Perminov, chief strategist at Rye, Man and Gore. ‘There was a situation that resembled what they are talking about. It was called the gold standard, and it ended very badly. ‘Alternatives to the dollar are still hard to find,’ he said. The Kremlin's call for a common currency is not the first. Speaking at an economic conference in Astana, Kazakhstan, Kazakh President Nursultan Nazarbayev proposed a global currency called the ‘acmetal’ -- a conflation of the words ‘acme’ and ‘capital.’ He also suggested that the Eurasian Economic Community, a loose group of five former Soviet republics including Kazakhstan and Russia, adopt a single noncash currency -- the yevraz -- to insulate itself from the global economic crisis. The suggestions received a lukewarm response from Foreign Minister Sergei Lavrov. Nazarbayev's proposal did, however, garner support from at least one prominent source -- Columbia University professor Robert Mundell, who was awarded the Nobel Prize in 1999 for his role in creating the euro..." U.N. PANEL SAYS WORLD SHOULD DITCH DOLLAR Reuters reports: "A U.N. panel will recommend that the world ditch the dollar as its reserve currency in favor of a shared basket of currencies...adding to pressure on the dollar. Currency specialist Avinash Persaud, a member of the panel of experts, told a Reuters Funds Summit in Luxembourg that the proposal was to create something like the old Ecu, or European currency unit, that was a hard-traded, weighted basket. Persaud, chairman of consultants Intelligence Capital and a former currency chief at JPMorgan, said the recommendation would be one of a number delivered to the United Nations on March 25 by the U.N. Commission of Experts on International Financial Reform. ‘It is a good moment to move to a shared reserve currency,’ he said. Central banks hold their reserves in a variety of currencies and gold, but the dollar has dominated as the most convincing store of value -- though its rate has wavered in recent years as the United States ran up huge twin budget and external deficits. Some analysts said news of the U.N. panel's recommendation extended dollar losses because it fed into concerns about the future of the greenback as the main global reserve currency, raising the chances of central bank sales of dollar holdings. ‘Speculation that major central banks would begin rebalancing their FX reserves has risen since the intensification of the dollar's slide between 2002 and mid-2008,’ CMC Markets said in a note..." EU PRESIDENT BLASTS U.S. ECONOMIC STIMULUS The International Herald Tribune reports: "Trans-Atlantic tension over the handling of the global economic crisis intensified when the prime minister of the Czech Republic, which holds the European Union presidency, described the U.S. stimulus measures as the ‘way to hell.’ Addressing the European Parliament in Strasbourg, France, Prime Minister Mirek Topolanek argued that the Obama administration's fiscal package and financial bailout ‘will undermine the stability of the global financial market.’ Mr. Topolanek's comments, only a day after he offered his government's resignation following a no confidence vote, took European officials by surprise. The rotating E.U. presidency lasts for six months and the country that holds it is supposed to speak on behalf of the entire 27-nation bloc. The statement came just a week before a meeting of the Group of 20 leaders of the world's biggest economies in London which aims to forge an international consensus on the economic crisis. His comments also underlined potential ideological strains between Washington and Europe as President Barack Obama prepares to travel to Prague in less than two weeks for a summit intended to bolster transatlantic relations and show that the United States and Europe are united over economic policy..." (President Obama has made the trip at this point of time and has defended his plan. In 1983, in my book 11:59 & Counting, I predicted an upcoming economic crisis. 26 years later I have lived to see my prediction fulfilled - based upon James 5:1-3; Revelation 18:10, 17, 19; Ezekiel 7:19. Revelation 13:15-18 is coming sooner than most of us think. This sign occurs after Christ calls His bride and church home at the Rapture.)