2 SEP 2010
By Michael Casey | WSJ
NEW YORK--Ever since its inception 66 years ago, the International Monetary Fund has fancied itself at the center of the global economy.
But only now does the prospect of a multilateral monetary authority providing stability to the international financial system seem even remotely possible. That's because for the first time in decades there are legitimate uncertainties surrounding the one institution that does play that role: the U.S. dollar.
In that context, a couple of recent IMF-related announcements are more important than they normally would be.
On Monday, the IMF said it would dramatically increase lending to a wide array of ...
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Our present monetary systems cannot lower government debt without creating high unemployment. This is because the means of exchange (money) is not similar to what it has to exchange (work and produce). Work or produce is lost when it is not used. Money is not. Therefore a new type of money with the possibility of bearing both positive and negative interest cannot be avoided if the problems of high unemployment and high government debt are to be solved. This new money is the Aurum. It's value is to be kept at a twenty years simple moving average (SMA) of the price of 0.1 gram (100 mg) of gold. But linking a new type of money to a broad commodity index or even to the SDR is also a possibility.
Every country can introduce the Aurum without any international agreements, but it would help if all countries would use the same basis. Please check how it works on www.digigeld.webklik.nl