March 19, 2009

UN - Ditch the Dollar / Save the Planet 2

Part 2 of 2

(See Part 1)

After trying to give voice to a massive energy tax, the United Nations wasn't finished. A bloated and ineffectual bureaucracy's work is never done. As if to say "I bet you think we couldn't top the stupidity of the energy tax!" the United Nations pressed on with the idea of ditching the dollar in favor of a shared basket of multiple currencies. Russia apparently is preparing a similar proposal.

Why do it, and why do it now?

Currency specialist Avinash Persaud on the UN panel stated "There is a moment that can be grasped for change." Where have we heard that tune before? Obama. And also the Green New Deal the UN proposed. Is there one massive script out there the world is using to try to tear down the United States in a co-ordinated attack on it's infrastructure?

Persaud clearly has no faith in the long term future of the dollar:
Persaud has long argued that the dollar would give way to the Chinese yuan as a global reserve currency within decades.

A shared reserve currency might negate this move, he said, but he believed that China would still like to take on the role.
So is he or this panel the right one/group to be making this call? And if it's the right call, why is this the right time? The answer from Persuad is less than forthcoming on that point. In fact, given the worldwide economic upheaval, given that the Russians want it, given that the Chinese want it only adds to the suspicion of the rationale behind it. In fact given the UN's like of the idea, I'm suspicious in spades.

And while moving away from the dollar may be a reasonable thing to do, why a towards a basket currencies? Why not move back to the gold standard? If the timing for change is right, right now, why not a move to worldwide asset backed currencies? It smacks of slap-in-the-face anti-Americanism.

If ever there was a time to re-think the rationale of the United Nations, indeed now is the time for THAT change. Their blatant an consistent anti-Americanism, and anti-Israeli stances have been a thorn in the side of America for too long. The structure of the organization is bloated and ineffectual. One can only hope that is the case with these two idiotic proposals.

If indeed the President is serious about cutting spending (ha!), funding for the UN is a great place to cut costs. Unfortunately the cabal of leftists running things in Washington will probably buy into this UN-think and do, once again, the exact opposite of what is needed. All the while, the frustration of right-thinking America grows.

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