The Royal Canadian Mint (RCM) has announced that they will stop printing pennies. The RCM have unveiled a digital RFID-chip based currency that can be loaded up, stored and spent in-store and online.
The RCM calls this currency MintChip; which will be a virtual payment method accessible through microchips, microSD cards and USB sticks.
This RFID-chip currency is collaboration with the US corporations and research and development outfits. Ian Bennett, president and CEO of the Mint explains:
As part of its research and development efforts, the Mint has developed MintChip, which could be characterized as an evolution of physical money, with the added benefits of being electronic.The MintChip is still under development, with patents pending and prototypes being studied. The creation and perfection of the technology must be useable with American markets.
Paul Solman, correspondent for the PBS NewsHour purveys the positive propaganda of one world currency by asserting that:
Ah, the dream: one world, one economy, one currency - and, of course, one global political system . . . a common currency means a common economic policy . . .The United Future World Currency is a foundation nearly 2 decades old that seeks to "bring to life the project for a common currency" once defined as the Euro. They are committed to bringing awareness to the necessity of global currency.
Organizations like this serve to make the idea of a global currency more palatable to the general public. Simultaneously, nations like China are pushing against the US dollar being the global reserve currency as the Federal Reserve continues to inflate the US dollar which debases its worth.
The Institute of International Finance (IIF), a group of technocrats that represent 420 banking cartels and financing houses have joined the cry for a one world currency.
Charles Dallara, managing director of the IIF, said:
A core group of the world's leading economies need to come together and hammer out an understanding. The narrowly focused unilateral and bilateral policy actions seen in recent months - including many proposed and actual measures on trade, currency intervention and monetary policy - have contributed to worsening underlying macroeconomic imbalances. They have also led to growing protectionist pressures as countries scramble for export markets as a source of growth.The UN's call for one world currency is contained in their report entitled, United Nations: Economic and Social Survey 2010. The UN asserted that the US dollar must be replaced by a new one-world currency issued by the International Monetary Fund (IMF).
In response to the Global Market Crash of 2008, Zhou Xiaochuan, the governor of the People's Bank of China, revived the ideal of the Bancor by demanding that the IMF have special drawing rights (SDRs).
Xiaochuan contented that national currencies were counter-productive to the global markets and that domestic monetary policy must not override international necessities.
The UN published a report following the financial crisis in 2008 entitled, The Commission of Experts of the President of the UN General Assembly on Reforms of the International Monetary and Financial System wherein they created a commission to "restore global economic stability".
UN Secretary-General Ban Ki-moon affirmed that a one-world currency would "bridge the old North-South divide" and that the UN's "monetary vision" if properly implemented would be a "path out of our current predicament."
In a report published in 2010, the IMF stated that the Bancor should be established and administered as the one-world currency. To go along with the one-world currency, the IMF advises the establishment of a one-world bank; which would also have issuance rights as the Federal Reserve Bank does within the US.
The IMF report states:
The global central bank could serve as a lender of last resort, providing neededsystemic liquidity in the event of adverse shocks and more automatically than at present. Such liquidity was provided in the most recent crisis mainly by the U.S. Federal Reserve, which however may not always provide such liquidity.The advent of a global currency, if allowed to happen will be controlled by the UN, as the IMF is an arm of the globalist Elite front.
Simply put, this demand is a call for economic control by the international community for the express purpose of ensuring that the future of all sovereign nations eventually fall victim to the coming global governance.
Susanne Posel is the Chief Editor of Occupy Corporatism. Our alternative news site is dedicated to reporting the news as it actually happens; not as it is spun by the corporately funded mainstream media.