New York Times…
Last month, Canada announced that it would eliminate its penny. Now the Royal Canadian Mint is using one of the oldest forms of currency, gold, to attract software developers to its project, the MintChip Challenge, to transform the country’s remaining coins into digital currency. Full Report →
“For years, American manufacturers have faced one of the highest tax rates in the world. We want to reduce that by over 20%. We want to drop the rate, particularly, for high-tech manufacturers like you, Mr. President, even further than the 20%,” Vice President Joe Biden said at a manufacturing plant in Davenport, Iowa this week.
“We want to create a global minimum tax, because American taxpayers shouldn’t be providing a larger subsidy for investing abroad than investing at home,” Biden said at a campaign event.
Economic Collapse Blog…
The U.S. dollar has probably been the closest thing to a true global currency that the world has ever seen. For decades, the use of the U.S. dollar has been absolutely dominant in international trade. This has had tremendous benefits for the U.S. financial system and for U.S. consumers, and it has given the U.S. government tremendous power and influence around the globe. Today, more than 60 percent of all foreign currency reserves in the world are in U.S. dollars. But there are big changes on the horizon. The mainstream media in the United States has been strangely silent about this, but some of the biggest economies on earth have been making agreements with each other to move away from using the U.S. dollar in international trade. There are also some oil producing nations which have begun selling oil in currencies other than the U.S. dollar, which is a major threat to the petrodollar system which has been in place for nearly four decades. And big international institutions such as the UN and the IMF have even been issuing official reports about the need to move away form the U.S. dollar and toward a new global reserve currency. So the reign of the U.S. dollar as the world reserve currency is definitely being threatened, and the coming shift in international trade is going to have massive implications for the U.S. economy.
Over the past couple of weeks, George Soros, the IMF and the World Bank have all issued incredibly chilling warnings about the possibility of an impending economic collapse. Considering the power and the influence that Soros, the IMF and the World Bank all have over the global financial system, this is very alarming. So are they purposely trying to scare the living daylights out of us? Soros is even warning of riots in the streets of America. Unfortunately, way too often top global leaders say something in public because they want to “push” events in a certain direction. Do George Soros and officials at the IMF and World Bank hope to prevent a worldwide financial collapse by making these statements, or are other agendas at work? We may never know. But one thing is for sure – many of the top financial officials in the world are using language that is downright “apocalyptic”, and that is not a good sign for the rest of 2012.
Over the past few months, I have written several articles dealing with the coming cashless society and the developing technological control grid. I also have written about the surge of government attempts to gain access to and force the use of biometric data for the purposes of identification, tracking, tracing, and surveillance.
Unfortunately, the reactions I receive from the general public are almost always the same. While some recognize the danger, most simply deny that governments have the capability or even the desire to create a system in which the population is constantly monitored by virtue of their most private and even biological information. Others, either gripped by apathy or ignorance, cannot believe that the gadgets given to them from the massive tech corporations are designed for anything other than their entertainment and enjoyment.
International Monetary Fund's Managing Director Christine Lagarde addresses a roundtable discussion in Lagos, December 20, 2011. REUTERS/Stephen Jaffe-IMF/Handout
PARIS (Reuters) – The head of the International Monetary Fund said the world economy was in danger and urged Europeans to speak with one voice on a debt crisis that has rattled the global financial system.
In Nigeria last week, IMF Christine Lagarde said the IMF’s 4 percent growth forecast for the world economy in 2012 could be revised downward, but gave no new figure.
“The world economy is in a dangerous situation,” she told France’s Journal du Dimanche in an interview published on Sunday.
From The Telegraph…
European Union chiefs are drawing up plans for a single “Treasury” to oversee tax and spending across the 17 eurozone nations.
Jun 29, 2010
(Reuters) – A new United Nations report released on Tuesday calls for abandoning the U.S. dollar as the main global reserve currency, saying it has been unable to safeguard value.
* S&P cuts Italy by one notch, may cut again
* Cites weak economy, political deadlock
George Soros is Chairman of Soros Fund Management and of the Open Society Institute.
Even if a catastrophe can be avoided, one thing is certain: the pressure to reduce deficits will push the eurozone into prolonged recession. This will have incalculable political consequences. The euro crisis could endanger the political cohesion of the European Union.