From the heart of the would-be global Hoi Phylakes – the Council for Foreign Relations – comes a piece written by their Director of International Economics, Benn Steil, which bemoans the costs imposed by monetary nationalism and floating exchange rates and even suggests that ‘digital gold’ accounts might one day become the money of the future.
Truly remarkable!
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Sean- I suspect this is a diversion at best. They’re marching along with preparing the ‘Amero’ (which I hear is rumored already to be printed up and ready to go in the 2008 – 2010 time frame). Call me crazy, but I don’t think the CFR has sound economic policy and individual freedom floating around its list of goals.
I read this article earlier in the week and found it, well, right on the money, failing, however, to make note of the author’s affiliation.
Frankly, I’m astounded, as I fully concur with Bill Losapio about the CFR’s stance on the Amero (together with the North American Union). But I don’t get the diversionary tactic and will very much appreciate others’ views on the matter.
By 2010, it is possible the US dollar will be worth so little that people will gladly dump it in favor of another currency. If the Amero (or some such) is not there to substitue, the result could be bankrupting bank runs.
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