Did you ever wonder why the United States isn’t even hinted at in the Bible? OPEC is getting their own currency, China is going to head that way. It is only a matter of time now before there is a truly one world currency. To think I saw this on a financial blog hwo is worried aobut hte US currency pretty much going to zero. What he misses is hte ramifications of the moves other countries are making. Hang onto your hats folks…this is no longer an earthly thing..this is a heavenly thing!
Today’s lesson in falsity is the announcement, long rumored, by the Gulf States that they will be forming a common currency, breaking the formal and informal dollar pegs that have controlled the price of oil and kept the petro-dollar recycling mill operating, allowing The United States to force our inflationary policies down the Arabs' throats.
The Gulf monetary union pact has come into effect, said Kuwaits finance minister, Mustafa al-Shamali, speaking at a Gulf Co-operation Council (GCC) summit in Kuwait.
The move will give the hyper-rich club of oil exporters a petro-currency of their own, greatly increasing their influence in the global exchange and capital markets and potentially displacing the US dollar as the pricing currency for oil contracts. Between them they amount to regional superpower with a GDP of $1.2 trillion (£739bn), some 40pc of the worlds proven oil reserves, and financial clout equal to that of China.
Potentially displacing my tailfeathers. That displacement is now assured.
Oh, and it doesn’t stop with just money either:
The GCC also agreed to create a joint military strike force akin to the EUs rapid reaction force to tackle threats such as the incursion of Yemeni Shiite rebels into Saudi territory earlier this year.
They nevertheless repeated on Tuesday that any military action against Iran by Western powers would be unacceptable.
Well there you have it.
China will be next with a Pan-Asian common currency and exchange system. The rumblings have been coming from there too, and they’ll be followed by action – if for no other reason than that with the unpegging of oil from the dollar there is no longer any reason for China to continue to maintain a dollar hegemony of its own, and in fact doing so could be extremely damaging to China's economy.