World Leaders in Discussion for New Reserve Currency


by The Silver Bug

China and Russia have made it quite clear in recent years that they are disgruntled with the way the United States has been abusing their “world reserve currency” privilege.

This privilege has enabled the US to expand its military presence like no other country previously seen in history. It has enabled the US to print seemingly unlimited amounts of fiat in its futile attempt to keep bubble after bubble inflated, while big banks profit and the man on the street suffers.

Unfortunately for the United States, this has created a great deal of animosity, so much so that in many parts of the world, it is no longer safe for a US citizen to travel.

Despite this abuse of power, fellow Western leaders have seemed quite content with allowing the US to retain the crown of fiat king. But behind the scenes, world leaders may not be so happy.

Ben DaviesCo-Founder and CEO of Hinde capital discussed in an interview with King World News, about a conversation he recently had with the former Prime Minister of Greece, George Papandreou.

In this interview, Ben asks Mr. Papandreou a number of very candid and straight forward questions that involve gold, SDR’s and their place in a new reserve currency of the world. Ben Davies explains:

“What I actually asked him was, “Were you aware of the comments by the former Bundesbank Vice President and former ECB (European Central Bank) board member, Jürgen Stark, where he suggested that the entire financial system is ‘pure fiction’ and that it was vulnerable to a collapse because of all this infinite money that’s been created?”  I went on to ask, “Had policymakers at the highest level discussed a change of the monetary order when you were in charge of the Greek political system?” 

He (Papandreou) was very thoughtful about this.  He said to me, “Yes, beyond austerity, beyond reforms, there had been deep conversations about how to change the monetary order.”  I asked, “Did this include a gold standard?”  What he told me was, “It was about exploring a basket of currencies that could involve an asset like that (gold).” 

I asked, “Are you referring to an SDR (Special Drawing Right)?”  And he said, “Yes.  It would be along those lines.”  He wasn’t trying to hide anything.  He was very candid about it.  But it was a very interesting exchange.  It’s not often that you have these conversations.”

Ben Davies is an incredibly credible source, therefore you can take his word that world leaders are at least entertaining the idea of a new reserve currency of the world, one that will see the replacement of the US dollar.

Could this new currency being discussed, be the infamous “One World Currency” that so many “conspiracy theorists” have discussed in the past? Perhaps, like the now proven true “gold manipulation conspiracy”, this too will have its day in the spotlight and the truth will be told.

TLB recommends you visit Sprott Money Blog for more great articles and pertinent information.

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