a Ee Armstrong Economics The Comnm 4 Ove Wortd c waite dirediy : Martin A-Armstrowg 1251 -050/ FCT Fart Dx CAND/ wan Pees Renton. ox 200 et Dr, Ns ovo dete steamersthe Commq One Wortd Currency ———— Hew do we de it 2? by: Martin A. armstrong former Chaiiman of Princeton Eooncmics International, Ltd. ‘and Foundation for the Study of Cycles ‘Tere is no doubt ve Will see a new One World Currency. This is the next step in the evolution process of Okinonikos (Bsoncmics) as Xenophon (4321-35280 ca) first ccoined the word as the title to his book that today probably would have been siven fhe illustrious title ~ How to manage your estate including your wife and slaves ~ for Dumiss! (meaning = how to regulate the househola)« Until 1971, the world for the most part, relied uson gold as money. It was the ‘outral store of wealth that was recognized a‘ound the verla. There were tines then he gold standard was suspended, such as during the Anerican Civil War, And there ‘were Eines when sone countries adopted a silver standard because they had too Little gold to create a viable money supply domestically such as in China and Maxico during the last quarter-century in the 1800s. There vas 2 suspension of the gold standard Guring periods of war, but we must exclude these interregnum periods for now. ‘The Monetary Crisis Cycle of 37,33 years has cove cn target ~ 2008 as calculated from 1971 turning point when the cold standard died. Go back another 37 years and we cone to 1934 when Franklin D. Roosevelt confiscated gold and created a TwoTler Gold Standard whereas gold was illegal denestically, but served as the ultinavs store of wealth to settle the balance of payments anons’nations, Go back yet another 37 years and we cone to the crisis of 1896 where J.P. Morgan had to gather a consortiim of Danks to lend the US Treasury a $100 million in gold because it was bankrupt, ZF ve 0 back yet another 37 years, we cone to 1860 with the break of the Union and the. abandonment of the gold stansard thereafter for the Civil war. We can keep going back An Cie and find anazing correlations to the various currency crisis periods that sean 0 appear like clockwork. Perhaps it just takes 37 years before man routinely screws up everything one way or another. The answer to the regularity ie a bit deeper than hat and is interlinked with a host of other regular events including weather. That is for another day. There is a rising discontent politically behind closed doors where sone of the noise is filtering out through the cracks. Both China and Russia are raising the guestion elout the dollar and its globel reserve currency statue. china has even Suggested that it wants a "guarantee" that its §1 trillion reserve will not be just Gevelued by spendthrift domastic stimulus packages. Those sho sean to have great Gifficulty in believing there are even cycles, fail to understand that thers are 2 Limited number of options, and the one thing that remains unchanging, is hunan ature. Just 2s China has asked for a "guarantee" row, so did Britain in 1971 that fueled ‘the closing of the gold window by Nixon. History does repeat! 1The One Weeid Currency Cometh —— There will be no avoiding # One World Currency - after all is said and doe, that is what the gold standard wes, There Will be the biblical soothsayers: who Will be carrying their signs that the end is here and repent. aut for the nest part, be alsays had a Ghe World Currency moaning gold. The real issue that seens to get the juices flowing is the idea that the Anti-Christ will control all commerce and thus ili prevent the buying or selling of anything with 2 One World Currency are accepting the nutber of his nane 666 starped cn your forehead or right hand. Perhaps the Anti-Christ was really Karl varx, and his posterity are organized goversments who follow Adan siith's Invisible and insofar as their self-interest dictates more and more power is nested to control the population. Look well at the shenanigens of government, for there lies the true threat to the liberty of the people For now, the real problen we have is that the floating exchange rate systen is causing economic distress that my break the back of the average person. On the one: hand the United States wants to be the world leader. cn the other, it wants freedom to expand Marxism to create a social state, Either ve abanton the world leader shit ani worry about our cwn, or we abandon our cum ahd tell the people you must suffer Decause the eoliticians want to play king of the mountain. We cannot have our cake and eat it too under such a current system, At the some tine, there is about $5 trillion outstanding in world dollar reserves Gutside the United States. Those people holding the dollars believe that they have « Eight to be heard in economic policies that will effect the valas of those reserves. Wie cannot say; "ere sucport the dollar, but shut up about our denestic policies." Hf we double cur money supply squandering that on infrastructure payments that ao Fothing to stimulate either the domestic or international sccnoay, then there is going to be concer about the lack of a voice in those policies. fononber what the slogan was that symbolized the Arerican Revolution? "No taxation without, represent ation." ‘The amplaint of the: founders of the United States vas that England was raising taures, ‘but americans had no seats in Parlianent. There was now ce to even chect fo the spenithrift policies of King George TIT. le are doing the same thing right ‘how £0 these who hold $5 trillion sorthof dollar reserves, Tf you want to see a real econonic crisis, whet if they said here, take then back now! Tt will be time to tum out the Lights. Hew de we Reta Sovereignty > ‘the real question then is this, How do we retain sovereignty for domestic policy yet at the sane tine respect the views of those outside the United States? The idea Of creating new enhanced SOR (Special Drawing Right) at the IMP (International, None fary Fund, vill not work. The IMP lacks integrity and is long know Behind closed hors for being a econonic prostitute that can be bought. ‘those put’ in charge would be subject to favorite appointments, and this would yield sovereignty to an agency that is just not trust-worthy. So how do we create a new world monetary system that is still viable, retains iodividualism anong naticns, and reduces the threat of global war be it either physical (oF economic? the answer is to create 2 new Global Central Bank kind-of like the HU ‘where the head rotates among nations, rather than appointnents from privase Invest~ ent Banks groomed for the job. Wo néed not a single currency uscd in each nation locally, but = Two-Tier Currency systan where international payments only are filtered, 2