One-world currency emerges ... again

Tuesday, March 17, 2009

'Acmetal' considered as solution to global economic recession

Canadian economist and Nobel-prize winning professor Robert Mundell, who is credited with formulating the intellectual basis for creating the euro, is pushing for a one-world currency, Jerome Corsi's Red Alert reports.

"This prominent endorsement is yet another indication that globalists are advancing global governance and structures, including the idea of a global currency, as solutions to the worldwide economic recession," Corsi writes.

Mundell has endorsed Kazakhstan President Nursultan Nazarbayev's idea to create the "acmetal" as a world currency.

"I must say that I agree with President Nazarbayev on his statement and many of the things he said in his plan, the project he made for the world currency, and I believe I'm right on track with what he is saying," Mundell told the Australian News.

Nazarbayev and Mundell called on the G-20 to form a working group to study the proposal at its April 2 meeting in London.

Nazarbayev explained that his coining of the name "acmetal" comes from the Greek word "acme," meaning "peak" or "best," and "capital."

A one-world currency presupposes the creation of a one-world central bank that would manage the currency, thereby superseding the authority of nation-state central banks, such as the Federal Reserve in the United States and the European Union Central Bank, Corsi writes.

As WND reported, Benn Steil, a senior fellow and director of international economics at the Council of Foreign Relations, wrote in the May/June 2007 issue of the Council of Foreign Relations' Foreign Affairs magazine an article entitled, "The end of national currency," in which his major conclusion was that "countries should abandon monetary nationalism." Steil tempered his embrace of one-world currency, writing, "Governments should replace national currencies with the dollar or the euro or, in the case of Asia, collaborate to produce a new multinational currency over a comparably large and economically diversified area."

Red Alert has reported that the finance chiefs of five of the six-member, oil-rich Gulf Cooperation Council approved a proposal to create a monetary union as a move toward adopting a single currency.

The six Islamic states constituting the Gulf Cooperation Council are Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates.

In 2002, the finance ministers of the Gulf Cooperation Council states sought out the assistance of the European Central Bank as the model for their single currency.

WND has also documented a move by the 53-nation African Union to create an African continental currency called "the gold Mandela."

Former Mexican President Vicente Fox also confirmed on CNN's Larry King television show in October 2007 a plan he conceived with President Bush to create a new regional currency in the Americas.

Full story HERE