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Keynes's "Bankor" Global Currency

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arlibertylover posted on Fri, Apr 17 2009 11:31 AM

I just read an article saying that it appears that China, and perhaps the other BRIC countries, is exploring (and actively moving toward) the idea of implementing Keynes Bankor global currency idea.  Does anyone know anything about this proposal and its consequences?  There is no mention of it on Wikipedia in English or French at this time.  How does it differ from the IMF SDR system?  Obviously the complete denationalization of money, banking, and currency is the best course of action, but it does not seem the most likely one due to the rampant statism of today's world.

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The Rev replied on Fri, Apr 17 2009 12:04 PM

I thought gold was the one world currency.

The only reason to go with a worldwide fiat money, rather than gold (or some other commodity), would be that someone would be intending to benefit from it by inflating it.  I think the only way to implement a worldwide single currency would be to first implement a worldwide single government.

The Rev

Lifes a piece of shit, when you look at it

Life's a laugh and death's a joke, it's true

Just remember it's all a show, keep em laughing as you go

Just remember that the last laugh is on you

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Keynes' Bankor would be a global currency, not controlled by any particular nation.  It would be centralized banking on the global level.  The idea that a global currency couldn't be influenced by any particular country is nonsense.  The power which the United States holds over the IMF, for example, serves as an example of government influence on "global institutions".

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"Obviously the complete denationalization of money, banking, and currency is the best course of action"
To be controlled by an international body?
and forced upon us?
that is the best course of action?

no thank you. the best course of action is freedom. Competing currencies.
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