Understand The Times, International

Comment from Understand The Times:

Gone are the days when the US dollar will be used as the currency of exchange on a world wide basis. The rest of the world looks upon the US economic situation with open eyes. The bankruptcy plan Barack Obama has implemented is the final straw.

A new monetary system is about to be implemented. This system has been in the making for decades. Now the world power brokers plan to manipulate the financial programs of major countries is in the final stages. A one world monetary system that every individual on planet earth will soon be required to join in order to buy and sell is very near.

Understand The Times strongly suggests if you are still wondering why this is happening (and why we are making the statements we have been making lately) please read the Bible. If you want to read a specific area of the Bible that relates to what we are saying, read Revelation 13:11-18.

August 31 - Hints Of Change In The World Monetary System

Article: One World Government

Ever since its inception 66 years ago, the International Monetary Fund has fancied itself at the center of the global economy. But only now does the prospect of a multilateral monetary authority providing stability to the international financial system seem even remotely possible. That's because for the first time in decades there are legitimate uncertainties surrounding the one institution that does play that role: the U.S. dollar.

Then on Tuesday, South Korea, which will host the Group of 20 nations summit in November, said it would no longer keep its proposal for a global system of currency swaps on the agenda of that meeting. Instead, it would seek a new role for the IMF for containing global financial turmoil--in effect, endorsing the IMF's alternative plan for a "global stabilization mechanism," which would be available to groups of countries.

But the balance of power in the global economy is shifting, with Emerging Asia growing at almost double-digit rates while the economies of the U.S. and Europe are mired in post-crisis debt. The fact that these proposals are coming forward is an indication that many nations are wary about depending on the U.S. when its own outlook is so weak.

Were it to take off, the IMF could evolve into a true international lender of last resort. And giving a multilateral body like the IMF more power at the expense of the U.S. would surely be preferable to having another, potentially less benign superpower simply takeover the reins.

The dollar is still king. But times are changing. It's in everybody's interest to design an international framework before the next big crisis erupts.