-Caveat Lector- http://www.thenewamerican.com/tna/1999/10-11-99/vo15no21_dollarization.htm October 4, 1999 CURRENT ISSUE One Hemisphere Under the Fed by William F. Jasper "The idea of dollarization � replacing an existing national currency with the U.S. dollar � is spreading through the Western Hemisphere." So wrote Senator Connie Mack (R-FL) in a May 12th op-ed for Investor�s Business Daily entitled, "A Fist Full of Dollarization." He went on to note: "The fan club now includes the president of Argentina, the most prominent business association and a possible presidential candidate in Mexico, and key leaders in Ecuador." One of the most avid fans in this new club, of course, is Senator Mack himself, who informs us that "dollarization has exciting potential benefits for the U.S. right now." And since he is chairman of the Joint Economic Committee, Senator Mack�s enthusiasm for this latest scheme of the Wall Street banksters and new world order globalists is no small matter. But then everyone seems positively aglow over all the glorious benefits that will accrue to one and all (and especially to U.S. citizens) should the countries of Latin America adopt the dollar as their official currency. In fact, since last January, when the business pages of newspapers began buzzing over the startling proposal by Argentine President Carlos Menem to abandon his country�s peso for the dollar, it has been difficult to find any naysayers to this grand proposal. Small wonder; according to its champions, there�s virtually no down side. "Dollarization would accelerate export growth by eliminating devaluation risk," asserts Mack, and bring "price stability" to Latin America. "The really big payoff," though, he claims, "would come just a few years down the road," when Latin America�s new dollarized prosperity will create "huge new markets for American producers and many new jobs in America." "Park Avenue State Dept." While the vast majority of Americans still have not even heard of "dollarization," the plans for implementing this incredibly radical program are already well underway among the ruling-class elite. Leading the charge, as usual, is that claque of one-world subversives at the Council on Foreign Relations (CFR), which New York magazine once referred to as "the Park Avenue State Department." According to Admiral Chester Ward, who was himself a CFR member for many years, the Council�s unmistakable goal is the "submergence of U.S. sovereignty and national independence into an all-powerful one-world government." "This lust to surrender the sovereignty and independence of the United States," said the admiral, "is pervasive throughout most of the membership...." A perusal of the CFR�s literature and the words and activities of its prominent members � both in and out of government � will quickly substantiate this serious charge. And surrendering the sovereignty and independence of the United States is exactly what dollarization is all about. In April 1974, the CFR journal Foreign Affairs ("the most influential periodical in print," according to Time magazine) published a remarkably frank attack on U.S. sovereignty. Authored by Columbia University professor and veteran State Department official Richard N. Gardner, the article was entitled "The Hard Road to World Order." It began with CFR member Gardner�s lamentation that like-minded internationalists had failed to achieve what he termed "instant world government." He proposed a new and more effective route to the creation of an all-powerful, global superstate, asserting: In short, the "house of world order" will have to be built from the bottom up rather than from the top down. It will look like a great "booming, buzzing confusion," to use William James� famous description of reality, but an end run around national sovereignty, eroding it piece by piece, will accomplish much more than the old-fashioned frontal assault. Gardner�s piecemeal scheme for world government proposed, among other things, luring all nations into a variety of economic and political entanglements. Professor Gardner now serves in the administration of President Clinton (CFR) as ambassador to Spain. Single Monetary Authority In 1984, ten years after Gardner�s "Hard Road" manifesto, Foreign Affairs brought forth another important pitch highly relevant to our dollarization "debate." In an audacious piece entitled "A Monetary System for the Future," Richard N. Cooper (CFR), a professor of international economics at Harvard, baldly stated: "I suggest a radical alternative scheme for the next century: the creation of a common currency for all of the industrial democracies, with a common monetary policy and a joint Bank of Issue to determine that monetary policy." The main problem with this scheme, Cooper realized, is that "a single currency is possible only if there is in effect a single monetary policy, and a single authority issuing the currency and directing the monetary policy." "How can independent states accomplish that?" he asked rhetorically. Naturally, he had the answer: "They need to turn over the determination of monetary policy to a supranational body." More recently, in its July/August 1999 issue, Foreign Affairs explicitly took up the campaign for such a supranational power and dollarization, with an essay by Zanny Minton Beddoes of Britain�s The Economist. In the opening paragraph of his globalist propaganda tract, "From EMU to AMU?: The Case for Regional Currencies," Beddoes declares with oracular certainty: "By 2030 the world will have two major currency zones � one European, the other American. The euro will be used from Brest to Bucharest, and the dollar from Alaska to Argentina � perhaps even Asia." Mr. Beddoes pays specific tribute to Richard Cooper�s 1984 Foreign Affairs article, and he throws bouquets to other "farsighted academics" who share his one-world view. "Skeptics argue that a national currency is a basic symbol of sovereignty that countries choose to forfeit only under extraordinary circumstances," says Beddoes, retailing the theme that such quaint concerns are totally without merit in this age of globalization. Mr. Beddoes and his devious allies would surely like all of us to believe that a national currency is only a "symbol of sovereignty," but it is much more than that, of course. It is an essential ingredient of sovereignty, and a nation is at the fearful mercy of any entity to whom it may be foolish enough to forfeit so important a power. The Federal Reserve System and the International Monetary Fund have already vindicated that claim a thousand times over, and yet here we are about to be enticed into an even deeper abyss. How is this possible? It is possible because over the past couple years the global economic fiascoes engineered by the CFR banksters and their government technocrats at Treasury and the Fed have been transformed � mirabile dictu! � into raging successes. The banksters have stuffed their vaults with billions of taxpayer dollars from the bailouts of bankrupt regimes from Mexico to Thailand, from Indonesia to Russia and Brazil (to name a few) � and we not only thank them for doing so, but virtually kiss the ground upon which they walk. A non-stop deluge of euphoric propaganda in the CFR-dominated media combined with a soaring stock market have convinced many that Greenspan & Company can do no wrong. See Part 2 for Conclusion. Bard DECLARATION & DISCLAIMER ========== CTRL is a discussion and informational exchange list. Proselyzting propagandic screeds are not allowed. Substance�not soapboxing! These are sordid matters and 'conspiracy theory', with its many half-truths, misdirections and outright frauds is used politically by different groups with major and minor effects spread throughout the spectrum of time and thought. That being said, CTRL gives no endorsement to the validity of posts, and always suggests to readers; be wary of what you read. CTRL gives no credeence to Holocaust denial and nazi's need not apply. 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