Currency Crisis: Euro and Dollar Crisis to Lead to World Currency

Its hard to believe that we are watching the evolution into a world currency - and the people of the world meet the news with a collective yawn.

It wasn't long ago - maybe 3-4 years ago, that I would quickly brush over the prophetic scriptures which would indicate that the world will have a single currency, accompanied by a world economic system and a world governance to handle the complex economic situation - a world governance which would evolve into what is described in the book of Revelation (specifically, chapters 6-18).

This prophetic scenario just seemed a little too "out there" and accompanied by the fear that presenting this information would be met with skepticism and doubt. The information was difficult to present and one feared the loss of credibility upon such presentations.

No longer. Now, just a few years later, one can pick up almost any magazine or news article and read about the world economic crisis along with the proposed solutions including a single currency backed by a world-wide governance.

It is amazing just how fast this scenario has come to reality.

Currency Crisis! So What Happens If The Dollar And The Euro Both Collapse?

Some analysts are warning that the U.S. dollar is in danger of collapse because of the exploding U.S. government debt, the horrific U.S. trade deficit and the new round of quantitative easing recently announced by the Federal Reserve.

Other analysts are warning the the euro is in danger of collapse because of the very serious sovereign debt crisis that is affecting nations such as Greece, Portugal, Ireland, Italy, Belgium and Spain.


So what happens if the dollar and the euro both collapse?

Well, it would certainly throw the current world financial order into a state of chaos, but what would emerge from the ashes? Would the nations of the world go back to using dozens of different national currencies or would we see a truly global currency emerge for the very first time?

Up until recently, the idea of a world currency was absolutely unthinkable for most people.

In fact, the notion that all of the major nations around the globe would agree to a single currency still seems far-fetched to most analysts. However, if enough "chaos" is produced by a concurrent collapse of the U.S. dollar and the euro, would that be enough to get the major powers around the world to agree to a new financial world order?

Let's hope not, but it is getting hard to deny that we are heading for a major currency crisis, and if the U.S. dollar and/or the euro collapse, the world will certainly never be the same afterwards.

This part of the commentary sets the stage. Now on to the most recent news which has escalated the push into a world currency:

In case you missed it, China and Russia made a very big announcement the other day.

They told the world that instead of using the U.S. dollar to trade with each other, they will now be using their own national currencies.

Most Americans don't realize it, but that is a very, very big deal.

The fact that the U.S. dollar has been the primary reserve currency of the world for decades has given the United States a tremendous amount of economic power.

But now nations are beginning to lose confidence in the U.S. dollar and they are slowly starting to move away from it.

When the Federal Reserve announced a new round of quantitative easing in early November, it created a huge backlash from other nations. For decades, many other countries have been heavily investing in dollar-denominated assets, and now they are quite upset that those assets are going to be devalued.

So where is all of this going?

If the Federal Reserve keeps flooding the system with new dollars, the rest of the world could eventually totally reject the U.S. dollar and U.S. Treasuries.

If that day ever arrives, the results would be beyond catastrophic as the following short video from the National Inflation Association demonstrates....

This video is found in the link provided for this article, and it is well worth investing 7 minutes to watch this video.

There is more below:

But it is not just the U.S. dollar that is in trouble.

The euro is in danger as well.

After a detailed listing of the various countries in the EU (Ireland, Portugal, Greece, Belgium and Spain), who are on the brink of financial collapse, the commentary continues:

EU President Herman Van Rompuy recently warned that if some of the weaker countries in Europe are forced to abandon the euro it will likely cause a total meltdown of the European Union....

"We’re in a survival crisis. We all have to work together in order to survive with the euro zone, because if we don’t survive with the euro zone we will not survive with the European Union."

German Chancellor Angela Merkel is also warning that a failure of the euro could bring down the entire European Union....

"If the euro fails, then Europe fails."

So now what happens?

So if the U.S. dollar and the euro do collapse, what would happen?

Well, already many world leaders are openly speaking of the need for a true global currency.

After all, they argue, there won't be any "currency wars" if we are all using the same currency

In fact, the Institute of International Finance, an organization that represents 420 of the biggest banks and financial institutions on the globe, recently declared that the time has come to adopt a one world currency.

A paper entitled "Reserve Accumulation and International Monetary Stability" by the Strategy, Policy and Review Department of the IMF recommends that the world adopt a global currency called the "Bancor" and that a global central bank be established to administer that currency.

The report is dated April 13, 2010 and a full copy can be read here. Unfortunately this is not hype and it is not a rumor. This is a very serious proposal in an official document from one of the mega-powerful institutions that is actually running the world economy. Anyone who follows the IMF knows that what the IMF wants, the IMF usually gets. So could a global currency known as the "Bancor" be on the horizon? That is now a legitimate question.

However, we do live at a time when the world financial system seems to be perpetually on the edge of chaos. If at some point the U.S. dollar and the euro totally fall apart perhaps we will see a "new order" arise out of all of that chaos.

Also see:

420 banks demand 1-world currency

The Institute of International Finance, a group that represents 420 of the world's largest banks and finance houses, has issued yet another call for a one-world global currency

"A core group of the world's leading economies need to come together and hammer out an understanding," Charles Dallara, the Institute of International Finance's managing director, told the Financial Times.

An IIF policy letter authored by Dallara and dated Oct. 4 made clear that global currency coordination was needed, in the group's view, to prevent a looming currency war.

Likewise, a July United Nations report called for the replacement of the dollar as the standard for holding foreign-exchange reserves in international trade with a new one-world currency issued by the International Monetary Fund.

And this:

Bancor: The Name Of The Global Currency That A Shocking IMF Report Is Proposing

Over the past few years, there have been many rumors about a coming global currency, but at times it has been difficult to pin down evidence that plans for such a currency are actually in the works.

Not anymore.

A paper entitled "Reserve Accumulation and International Monetary Stability" by the Strategy, Policy and Review Department of the IMF recommends that the world adopt a global currency called the "Bancor" and that a global central bank be established to administer that currency.

The report is dated April 13, 2010 and a full copy can be read here. Unfortunately this is not hype and it is not a rumor. This is a very serious proposal in an official document from one of the mega-powerful institutions that is actually running the world economy.

Anyone who follows the IMF knows that what the IMF wants, the IMF usually gets. So could a global currency known as the "Bancor" be on the horizon? That is now a legitimate question.

So where in the world did the name "Bancor" come from? Well, it turns out that "Bancor" is the name of a hypothetical world currency unit once suggested by John Maynard Keynes. Keynes was a world famous British economist who headed the World Banking Commission that created the IMF during the Breton Woods negotiations.

So who would print and administer the "Bancor"?

Well, a global central bank of course. It would be something like the Federal Reserve, only completely outside the control of any particular national government....

The truth is that a global currency (whether it be called the "Bancor" or given a different name entirely) would be a major blow to national sovereignty and would represent a major move towards global government.

However, the truth is that there are some very powerful interests that are absolutely determined to create a global currency and a global central bank for the global economy that we now live in.

It would be a major mistake to think that it can't happen.

Referenced Link:

Reserve Accumulation and International Monetary Stability

This seems very real and very imminent. One also has to wonder if the collapse of the dollar and the euro were planned in advance for the specific purpose of precipitating this crisis which would then be followed by a single currency.

Either way, its coming our way.

What was recently met with skepticism and disbelief is now gradually being discussed and written about as fact. What was once unthinkable is now being accepted as an inevitable conclusion to the world's financial situation - and it has all happened in a few brief years.

After all, this is just another aspect of biblical prophecy coming to conclusion - and once again, we can sit back and look at biblical prophecy in complete amazement.

As the apostle Peter informed us:

"And we have the word of the prophets made more certain, and you will do well to pay attention to it, as a light shining in a dark place..." (2 Peter 1:19).

Amen. Maranatha. Come quickly Lord.