Is all the world's unrest linked into creating a One World Treasury Bond?

[BillBoard]

Who here thinks that the Elite is squeezing all the world's governments into unrest for the purposes of creating a One World Government Bond? It makes sense to first create a one world government bond as a precursor into creating a One World Currency.

[BillBoard]

Re: Is all the world's unrest linked into creating a One World Treasury Bond?

http://www.ajc.com/opinion/new-world...em-133553.html

New world monetary system inevitable


Tuesday, September 8, 2009
By Joseph E. Stiglitz


We just learned that the 10-year national debt is likely to grow to more than $9 trillion. That’s not great news — no one likes a big deficit — but President Barack Obama inherited an economic mess from the Bush administration, and the cleanup comes with an inevitably high price tag. We’re paying it now.
There are no easy options. When financial crises strike, economic growth declines and living standards drop, resulting in lower tax revenues and greater need for government assistance — all of which leads to higher deficits.
What really matters is not the size of the deficit but how we’re spending our money. If we expand our debt to make high-return, productive investments, the economy can become stronger than if we slash expenditures.
There are other consequences, however, that we’re missing. Our budget deficit, as well as the Federal Reserve’s ballooning lending programs and other financial obligations, will accelerate a process already well underway — a changing role for the U.S. dollar in the global economy.
The domino effect is straightforward: Higher deficits spark market concerns over future inflation; concerns of inflation contribute to a weaker dollar; and both come together to undermine the greenback’s role as a reliable store of value around the world.
Right now, with so much unused capacity in the American economy and so much unemployment — likely to persist for at least another year or two — the more pressing worry is deflation (a general decrease in prices), not inflation. But as the economy eventually recovers, the possibility of inflation will loom, and with forward-looking markets, worries about the future often play out in the present. Anxieties about future inflation can lead to a weaker dollar today.
So, are these anxieties justifiable? And what do they portend for the global financial system?
The worries are justified, even though Fed Chairman Ben Bernanke assures us that he will deftly manage monetary policy to keep the economy on an even kilter.
This is a tough balancing act — move too quickly or too vigorously, and you plunge the economy into another downturn; too slowly or too weakly, and inflation can be unleashed.
Anyone looking at the Fed’s record in recent years will be skeptical of its forecasting skills and its ability to get the balance right.
In addition, international markets understand that the U.S. may face strong incentives to reduce the real value of its debts through inflation, which makes each dollar owed worth less.
If market players are worried about inflation (or even if they are worried that others might be worried) that is bad news for the dollar. Holding dollars today represents risk without reward: The returns to U.S. Treasury bills are near zero, and even those most confident in the Federal Reserve must acknowledge the chance that things will not go smoothly.
For decades, other nations have held dollars in their central bank reserves, seeking to give confidence to their country and currency. But in a globalized economy, why should the financial system depend on the vagaries of what happens in America?
The current system is not only bad for the world, it is bad for us, too. In effect, as other countries hold more dollar reserves, we are exporting T-bills rather than automobiles, and exporting T-bills doesn’t create jobs. We used to offset this drag on the economy by running a fiscal deficit. But going forward, we won’t find it as easy to do this. And the Fed may not be able to do the trick — expansionary monetary policy poses its own risks.
Like it or not, out of the ashes of this debacle a new and more stable global reserve system is likely to emerge, and for the world as a whole, as well as for the United States, this would be a good thing. It would lead to a more stable worldwide financial system and stronger global economic growth.
The current system entails developing countries putting aside hundreds of billions of dollars a year — only weakening global demand and contributing to our economic difficulties.
Also, there is something a little unseemly about poor countries lending the United States trillions of dollars, now at an interest rate of close to zero.
Discussions on the design of the new system are already underway. The United Nations’ Commission of Experts on Reforms of the International Monetary and Financial System — a body I chaired — has argued that a new global reserve currency system may be the most important reform to ensure the long-term health of the world’s economy; it also suggested how to design an orderly transition from the dollar-based system.
In its interim report in June, the commission described a number of alternatives. Some involve building on the International Monetary Fund’s “special drawing rights,” or SDRs — a kind of “IMF money” — but making the issuance of this global reserve money annual and more predictable. (Currently, issuances of SDRs are small and episodic.) Other proposed reforms are more complex and ambitious, such as issuing new global reserves in ways and amounts that could be used to stabilize the world’s economy or to invest in “global public goods,” such as helping developing nations reduce greenhouse gas emissions.
The U.S. has resisted these changes, but they will come regardless, and it’s better for us to participate in the construction of a new system than have it happen without us.
The U.S. has seen great advantages with the dollar as the world’s reserve currency of choice, particularly the ability to borrow at low interest rates seemingly without limit.
But we haven’t seen the costs as clearly: the inevitable trade deficits, the instability, the weaker global economy. The benefits to us are likely to shrink, and rapidly so, as countries shift their holdings away from the dollar.
It’s happening now, and the process is likely to accelerate. The Chinese have expressed concerns about the country’s vast dollar reserves.
Not surprisingly, China and other nations holding lots of U.S. debt support efforts to build a new system.
We should show leadership in helping shape this new structure and managing the transition, rather than burying its head in the sand.
We may have preferred to keep the old system, in which the dollar reigned supreme, but that’s no longer an option.
Joseph Stiglitz, the 2001 Nobel Prize winner in economics, is a professor of economics at Columbia University and former chairman of the Council of Economic Advisers.

[lektrode]

Re: Is all the world's unrest linked into creating a One World Treasury Bond?

Who here thinks that the Elite is squeezing all the world's governments into unrest for the purposes of creating a One World Government Bond? It makes sense to first create a one world government bond as a precursor into creating a One World Currency.

eye caught this story yest and immed the bond (james) music started playing...

http://news.sky.com/home/technology/article/16048040
8:34am UK, Friday August 12, 2011
A test flight of the 'world's fastest plane' has ended in disaster after the vehicle crashed into the Pacific Ocean.


An artist's impression of the hypersonic aircraft. Pic: DARPA


The US military's Falcon HTV-2 - which travels 22 times faster than a commercial airliner - was launched amid promises of flights from London to Sydney in less than an hour.
Attached to the back of a rocket, the plane blasted off from Vandenberg Air Force Base in California, before detaching at the edge of space.
But after around nine minutes, the craft stopped sending signals and is believed to have plunged into the ocean.
Engineers had hoped to guide the plane on a hypersonic flight, and that it would reach speeds of around 13,000mph upon its return to Earth.
Travelling at about 20 times the speed of sound and withstanding temperatures of 2,000C, the plane was designed as part of a research project.
A previous launch attempt was abandoned and plane designs changed in April due to a fault on board the aircraft.
Nine minutes into that previous mission, at which point the plane had flown for 139 seconds reaching 16,700mph, an onboard computer detected an anomaly and ordered the plane to ditch in the ocean for safety reasons.
A second attempt on Wednesday was delayed to Thursday because of poor weather conditions.

from AP:

A Pentagon agency reported losing contact with an unmanned hypersonic aircraft over the Pacific Ocean less than an hour after launch today.
The experimental Falcon Hypersonic Technology Vehicle 2, or HTV-2, lifted off today in a Minotaur IV rocket made by Orbital Sciences Corp. at 7:45 a.m. local time from Vandenberg Air Force Base in California, according the Pentagon's Defense Advanced Research Projects Agency, which is funding the program and overseeing the tests. The agency made the announcement on Twitter.
The Lockheed Martin Corp.-made, arrowhead-shaped aircraft soared to the edge of space, separated from the booster and was "on track" to enter its glide phase, during which it would reach speeds of Mach 20, or about 13,000 mph, before diving into the Pacific off the coast of Kwajalein Atoll, according to the agency.
Less than an hour later, the agency reported engineers "lost telemetry" with the aircraft. No additional details were provided. Attempts to reach public affairs officers at Vandenberg and the defense agency, commonly known as Darpa, were unsuccessful.
Today's flight was the aircraft's second and final planned test flight. The first attempt on April 22, 2010, ended nine minutes into flight when the on-board computer detected a glitch and forced a splashdown. Data from the maiden voyage indicated the craft reached speeds of between Mach 17 and Mach 22.
A flight from New York to Los Angeles at such speeds would take less than 12 minutes, according to the Pentagon agency.
The project began in 2003 and cost $320 million, Eric Butterbaugh, a spokesman for the agency, said in an e-mail. The goal is to develop technology that could deliver a non-nuclear warhead anywhere in the world within an hour.
Tom Collina, research director at the Arms Control Association in Washington, said the technology is unconstrained by the New Start, a nuclear arms reduction agreement signed last year by U.S. and Russia, and is unlikely to be confused as a nuclear weapon because its trajectory is unlike the Bell-shaped curve of a ballistic missile.
"Most people perceive this to be a niche capability," he said in a telephone interview. "You're not going to build more than a dozen or two of these things."

and from WIRED:

http://www.wired.com/dangerroom/2011...le-lost-again/

Pentagon’s Mach 20 Missile Lost Over Pacific — Again

• By Noah Shachtman
• 
• August 11, 2011 |
• 4:54 pm |
• Categories: DarpaWatch

For the second time in a row, the Pentagon has lost contact with an experimental hypersonic vehicle over the Pacific, just minutes after it was launched from space.
The flight of the Falcon Hypersonic Technology Vehicle 2 was hotly anticipated in military and aerospace circles. The HTV-2 was supposed to ride on the back of a rocket to the edge of space, where it would separate and scream through the atmosphere at 13,000 mph before splashing into the Pacific Ocean, about 4,100 miles and 30 minutes later.
If the flight worked, it’d show how missiles of this shape and flight pattern could strike targets halfway around the world almost instantly. And that would be a major step forward in the Pentagon’s “Prompt Global Strike” plan to attack foes anywhere on the globe in less than an hour. For now, however, those hopes have been dashed.
“There’s no way you can call it a success. Let’s be blunt about it,” a source familiar with the program tells Danger Room.
In a statement, Darpa tried to put a positive shine on the day’s events. The Minotaur IV rocket “successfully inserted the aircraft into the desired trajectory,” the agency noted. The HTV-2 “transitioned to Mach 20 aerodynamic flight,” and that “more than nine minutes of data was collected before an anomaly caused loss of signal.”
“We’ll learn. We’ll try again. That’s what it takes,” Darpa director Regina Dugan added.
But that may be easier said than done. Before the test, Darpa announced that this would be the last HTV-2 flight that the agency would run. The idea was to transfer control of the program to another branch of the military, most likely the Air Force. Those other branches may not be willing to take on such an expensive program that hasn’t shown much forward momentum, as of yet.

[cjppjc]

Re: Is all the world's unrest linked into creating a One World Treasury Bond?

Don't the elite have everything going for them now? Why would they bother? And who are they anyway?

[BillBoard]

Re: Is all the world's unrest linked into creating a One World Treasury Bond?

Don't the elite have everything going for them now? Why would they bother? And who are they anyway?

No yet.

But how far fetched? See Italy is calling for an Euro Bond: http://www.marketwatch.com/story/ita...MW_latest_news

Italy calls for creation of euro bonds: report



By Sam Mamudi, MarketWatch
NEW YORK (MarketWatch) — Italy’s economy minister has said that a solution to the euro zone’s current debt crisis would be the creation of euro bonds, according to a report published Saturday.
Reuters reported that Giulio Tremonti said that such bonds would have prevented the continent from reaching the point it has, with Greece, Ireland and Italy among countries pushing through austerity measures in the hope of avoiding sovereign defaults.
Tremonti said joint-issued bonds would make nations’ debt a shared burden, and was quoted by Reuters as saying that they would be “master solution” to the crisis.