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The Death of the U.S. Dollar
History records that many national currencies have been
devalued and canceled. Is America's next?
By Ken Raggio
I wrote this original draft in 1998, and have now updated it. It is more relevant today than then.
I was in Washington D.C. on a Saturday evening, walking down Pennsylvania Avenue past the White House. In the next block is the World Bank, and next to it, the International Monetary Fund headquarters. In the context of D.C.’s sacred American history, I suddenly wondered why these two non-American institutions - the World Bank and the IMF - were positioned nearest the White House.
Suddenly, my mind was conjuring the image of a book I read in 1973, entitled The Day the Dollar Dies by Willard Cantelon. I met the author in 1971, a distinguished gentleman, a world traveler, and a student of international money.
He was also an avid student of Bible prophecy. His new book, The Day the Dollar Dies spoke in shocking terms of the creation of an International Monetary Fund and a World Bank which, he said, would hasten the day when national currencies would give way to a global monetary system, and ultimately the “Mark of the Beast” system mentioned in the book of Revelation.
The International Monetary Fund, or IMF, was created at a pre-United Nations conference held in Bretton Woods, New Hampshire in July, 1944. It came into existence on December 27, 1945 (only two months after the UN was born on October 24), and was established to promote international monetary cooperation.
Following the terrifying “Great Depression,” the world was yearning for assurances that another financial collapse would not occur. Among the purposes for the creation of the IMF was to ensure the stability of the international monetary system.
According to the Articles of Agreement, by which the IMF was established, it would “assist in the establishment of a multilateral system of payments”.
I heard Cantelon lecture in those days, only two years after the IMF, in 1969, created an instrument called “Special Drawing Rights” or SDRs. Cantelon was quite alarmed at the essence of SDRs, because for the first time in history, monetary exchanges were being made without currencies.
The two strongest currencies of that day were 1. Gold, and 2. the U.S. Dollar. Various international currencies often fluctuated wildly in value, creating complex currency exchange.
Special Drawing Rights were made available by the International Monetary Fund to facilitate the exchange of foreign currencies with fluctuating values. SDRs became something like a precursor to paperless currencies. SDRs set a precedent. Monetary exchanges were being conducted without money. The long-standing “Gold Standard” from the past gave way to a paperless exchange system that would only evolve further and further until almost no international transactions at all would be conducted in real currencies.
The Bretton Woods system collapsed after the U.S. Federal Government defaulted in 1971. Since that time, fiat currencies have been entirely irredeemable for precious metals.
Ironically, the IMF is now one of the world’s largest holders of real gold – 3,217 metric TONS worth $45 Billion! When the Bretton Woods system collapsed, the IMF required participating countries to contribute their payments in real gold. As a result, the IMF has sucked-up most of the world’s gold, leaving the world without the ability to conduct business on a gold standard.
Coincidentally, while rumors circulated that most of the gold in Fort Knox, Kentucky had been hauled off, the U.S. Mint stopped printing “Legal Tender” notes and “Silver Certificates” (redeemable for metallic silver).
The U.S. Treasury began printing “Federal Reserve Notes,” which is generally referred to as “fiat” money – with its value defined by the government, not by the value of its metal base. The U.S. Mint admits that Fort Knox now holds only 147.3 million ounces of gold, down from a high of 649.6 million ounces of gold in 1941. The gold holdings have not been audited since the 1950s. Many believe there are no longer any major gold reserves in Fort Knox.
In the light of Bible prophecy, we can see where these circumstances lead: a cashless society operating on an international number system. Gary Allen, in a 1971 book entitled, None Dare Call It Conspiracy described the evolution of the international banking system.
From the middle ages, when mercenary “knights” conducted wars for kings and kingdoms, a primitive banking system was conceived where money was carried from country to country by armed soldiers. Meanwhile, paper currency, representing gold and silver “in reserve” circulated by mail carriers. The paper currencies allowed the wealthy to do business while their actual gold, silver and precious holdings were kept “in reserve” by well-known, well-trusted businessmen who charged a fee for handling
their “fiat” payment transactions.
Forbes magazine describes Meyer Amschel Rothschild, (1744-1812) as one of the top twenty most influential businessmen of all times. Rothschild is known as the “Father of Modern Banking.” Rothschild institutionalized the “reserve” system of money, and became the first truly international banker. His five sons established major international banks in London, Vienna, Paris, Naples and Frankfurt, and the Rothschild name is forever linked with the world money system.
Today, the World Bank and the International Monetary Fund operate on an international banking infrastructure that has evolved from the early days of the Rothschilds. The IMF is comprised of 183 member nations, scarcely short of the full 191 UN memberships.
More significantly, both the World Bank and the International Monetary Fund are arms of the United Nations, under the auspices of the United Nations Economic and Social Council. The symbiotic relationship between the United Nations and the UN Economic and Social Council, and by extension, the World Bank and the International Monetary Fund, demonstrates the power of world government over our future money system.
As global governance rapidly takes precedence over nationalistic economic
policies, it is easy to see how the United Nations will have the final say over international currencies.
In much the same way that the “Special Drawing Rights” (SDRs) in 1969
was used to homogenize international currencies, the IMF of the near future is likely to define the terms for international currencies to dissolve into a single global monetary unit.
That newly defined global monetary unit will easily transpose into a cashless, paperless, computerized, individualized, neo-SDR!
In the New World Monetary Order, the international “currency” will be the
equivalent of a Special Drawing Right that is likely to be based on a biometric RFID (Radio Frequency ID) chip implanted in the human body and identifiable by a number system.
World Government will own the World Money System at that time.
Through the UN Economic and Social Council, which presides over the World Bank and the International Monetary Fund and a whole organization of other financial entities, the New World Order will be able to authoritatively implement and enforce the terms of a new international monetary system, regardless of the objections or participation (or non-participation) of the world’s countries.
Dr. Ralph Barton Perry of Harvard once said, “One world government is in
the making. Whether we like it or not, we are moving toward a one-world government.”
In order for an international currency to succeed, nation-states will necessarily yield their monetary policies to the United Nations. All nation-states will be forced to participate in an international monetary system established on a global identification protocol.
That fact appears even more significant in the light of the recent U.S. legislation that mandates the consolidation of all states’ identification systems into a federally defined system. By force of the REAL ID ACT, passed by the US Congress in May, 2005 and scheduled for implementation in May of 2008, the U.S. will effectively require every American citizen to carry a national identification number (a state-issued license with a federal database).
Observers have already concluded that the implications of REAL ID are
onerous and burdensome. Without a REAL ID, one cannot drive legally, enter a federal building, collect Social Security, access a government service, or do business with a bank or an airline. Arguably, it could be nearly impossible to LIVE without a REAL ID.
This comes breath-takingly close to the same terms of the biblical “mark
of the beast.” No man can buy or sell without that mark. With the national
(REAL) ID scheduled for introduction May, 2008, people may not be able to buy or sell without it.
(Addendum 10-30-2009 - The PASS ID bill is now replacing the REAL ID. Same basic plan, just delayed because so many states objected to REAL ID.)
Once the international institutions redefine international currencies by a single standard, and set in order a New World Money System based on a computerized biometric number system, the good-old American dollar will be dead, along with every other national currency around the world.
Is our national ID going to evolve into the mark of the beast? It will all become very plain the day the dollar dies.
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SEE ALSO: WILL NATIONAL ID BECOME GLOBAL ID?
SEE ALSO: DON'T TAKE THE MARK!
SEE ALSO: LIVING WITHIN E-BORDERS
SEE ALSO: WILL THE EU DISPLACE THE DOLLAR?
SEE ALSO: HOW SOON WILL WE BE CASHLESS?
SEE ALSO: CAN AMERICA AVOID THE MARK OF THE BEAST?
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