The Dollar's Days are Numbered
"The replacement of the dollar by an artificial currency would solve some of the problems associated with thepotential of countries to wipe out large deficits and would help stability," said Detlef Kotte, one of the authors of the report. The proposals included in the UNCTAD annual report contain the most radical suggestions ever made for the network to redesign the global monetary system.
"The U.S. empire is ruined," wrote the columnist Chris Hedges on June 15, 2009 in www.TruthDig.com and www.CommomDreams.Org. Commenting on the meeting in Yekaterinburg (formerly Sverdlovsk, Russia), the Chinese President Hu Jintao, Russian President Medvedev and other top officials of the six-nation Shanghai Cooperation Organization, Hedges said, "Barack Obama and the Wall Street criminal class, aided by corporate media, continues peddling inane gossip and garbage masquerading as news, while we endure the biggest economic crisis in our history. They may have cheated us, but the rest of the world knows that we are ruined.
These nations are cursed if they continue to support keeping afloat an inflated U.S. dollar and sustaining massive federal budget deficits, swollen to over 2 trillion dollars, which finances U.S. imperial expansion in Eurasia and our system of casino capitalism . We are grabbed by the throat. It is at the point of being too tight."
The "substitution of the dollar for a conventional currency would solve some of the problems associated with the potential to wipe countries' large deficits and help stability," Kotte said. Although many economists have pointed out that the economic crisis was due to malfunction of the monetary system established in the agreements at Bretton Woods, so far no major institution, including the G20, has raised an alternative.
Note: This censored news arose frpm the investigation of the students Nicole Fletcher, Sonoma State University; Krystal Alexander, the Indian River State College, and Bridgette Grillo, the Diablo Valley College. It was validated by academics Ronald Lopez, Sonoma State University, Elliot D. Cohen, Indian River State College, and Mickey Huff, blo Day Valley College.
Sources of the Censored Project:
- "The American Empire Is Bankrupt" Chris Hedges, TruthDig.com, June 15, 2009 http://www.truthdig.com/report/item/20090614_the_american_empire_is_bankrupt/ or http://www.commondreams.org/view/2009/ 06/15-0
- "De-Dollarization: Dismantling America's Military Empire Financial," The Turning Point Yekaterinburg "Prof. Michael Hudson, Global Research, June 13, 2009 http://www.globalresearch.ca/index.php?context=va&aid=13969
- "Iran and Russia nip at U.S. global dominance" Fred Weir, The Christian Science Monitor, June 16, 2009 http://www.csmonitor.com/2009/0616/p06s12-woeu.html
-Telegraph Media Group
http://www.nytimes.com/2009/07/08/world/europe/08pope.html
http://www.bloomberg.com/apps/news?pid=20601087&sid=aeFVNYQpByU4
Tackle-Latin American Leftists with New Currency Dollar Source: Agence France-Presse, October 17, 2009 URL: http://www.commondreams.org/headline/2009/10/17-3
Ernesto Carmona, Chilean journalist and writer, board member of the Journalists Association and the International Jury of Project Censored.
Source: www.argenpress.info/2010/08/noticias-censuradas-los-dias-del-dolar.html
RCR
Translated from the Spanish version by:
Lisa KARPOVA
PRAVDA.Ru
