Sunday, February 10, 2008

Benjamin Fulford, 11 Feb 2008

G7 Draws to a Close, and It's All Complete Nonsense

The Tokyo G7 conference a few days ago regarding the global economy was, I think, complete nonsense.

In the first place, without China or Russia participating, it just doesn't have the clout it used to. The functionality of the G7 structure itself is impaired.

If the G7 is the 'place to discuss real intentions', their talk should be more pragmatic. For instance, "The reason the country called 'America' is collapsing is because the should have saved and exported more", or "A substitute for oil should be quickly liberalized."

Also, "The American dollar's function as the reserve currency is dying", is something I'd also like them to accept. A unified world currency is necessary. However, how that currency is made is important, as is ensuring that it's distribution is open and transparent. The currency system we have now, through which powerful people manage the world in secrecy, is a cancer upon the Earth.

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Darrell's End Times said...

The dollar is accepted as legal tender by most nations in the world; for central bankers to discontinue accepting the dollar as legal tender would, at best, be foolhardy.

There is one of three things one can do with legal tender: save it, invest it, or spend it. America’s commercial establishment excels at allowing the dollar to be channeled into one of these three categories. America’s markets are open so one can invest their dollars, one can save their dollars in American institutions or they can spend their dollars in Las Vegas. Or San Francisco, or anywhere else in America.

In order for Europe to sell their airplanes they have to accept dollars as payment. Otherwise the buyer will simply go and buy am American airplane. Tourist will go to San Francisco to spend their dollars if no other country will accept it. And they will have a better time in SF, anyway.

The point is as long as the US does not place restrictions on how one can use their dollar holdings then the dollar will continued to be accepted as legal tender worldwide.

Keitousama said...

Well, Darrell's End Times, that's all quite sensible. Unfortunately the dollar's been plummeting in value, every nation in the world that has significant dollar holdings is champing at the bit for the opportunity to get rid of them, and I hear they're accepting Euros and Canadian dollars in New York city (and, occasionally, demanding them.)

It's all well and good to put your faith in Jesus as your lord and savior, as you apparently do, but you might want to think twice before having such blind trust in the Federal Reserve.