Then there is a final step. The Special drawing Rights of the International Monetary Fund are a `token` that gives the recipient access to the IMF`s basket of currencies. And that involves five different currencies - Dollar, Pound, Euro, Yen and Yuan. They need to become `one currency.`
Now a similar transation occurred in Europe when there was a token for a basket of currencies. However eventually the `token` became the money, and the euro was born. Similarly the token for the IMF`s basket of currencies will eventually become the money, (digital) for the world. The name put forward is the Bancor.
Every nation will desire to be connected to this lender of last resort, as it appears we are all in this together, and thus safe from economic collapse. The price for such `safety,` is giving the nation`s sovereign control to an unelected organisation, which is not accountable to anyone.
Now a similar transation occurred in Europe when there was a token for a basket of currencies. However eventually the `token` became the money, and the euro was born. Similarly the token for the IMF`s basket of currencies will eventually become the money, (digital) for the world. The name put forward is the Bancor.
Every nation will desire to be connected to this lender of last resort, as it appears we are all in this together, and thus safe from economic collapse. The price for such `safety,` is giving the nation`s sovereign control to an unelected organisation, which is not accountable to anyone.
