British Socialists: Bring Cairo to London; Socialist Head of IMF: Now is the Time for a Global Currency

“We’re About Bringing This Government Down…” British Trotskysites Bring Cairo to London

Trevor Loudon
New Zeal

Over the weekend,  the British Socialist Workers Party – which has been heavily involved in the build up to the Egyptian revolution, organized a Peoples Convention in London.

While primarily about organizing mass resistance to proposed Conservative/Lib-Dem government budget cuts, the lessons of Egypt were not lost on the participants.

Chris Bambery, an S.W.P. Central Committee member and National Secretary of the Right to Work Campaign, which fronted the conference said :

Every anti cuts campaigner has taken inspiration from the events in Egypt and the mass student protests in Britain . If Egyptian workers can overthrow Mubarak we can certainly settle accounts with Cameron and Clegg here.

The article continues, with video, at New Zeal.

Socialist IMF Head Calls for Global Currency
Julie Borowski

The head of the International Monetary Fund (IMF) Dominique Strauss-Kahn is a member of France’s Socialist Party. As one of the 187 member countries, U.S. taxpayers pay roughly 17 percent of the IMF’s total funding.  Dominique Strauss-Kahn even unsuccessfully ran for president of France on the Socialist ticket in 2007. Rumors have been circulating that the socialist may be challenging current French President Nicholas Sarkozy in 2012.

Dominique Strauss-Kahn has made his political views clear. In April 2010, the IMF released a reportcalled the “Reserve Accumulation and International Monetary Stability.” The report was full of extensive IMF jargon. However, it’s worth a read to discover what the IMF is scheming. The reportreads:

A more ambitious reform option would be to build on the previous ideas and develop, over time, a global currency. Called, for example, bancor in honor of Keynes, such a currency could be used as a medium of exchange—an ’outside money’ in contrast to the SDR which remains an ‘inside money’.

The international bureaucracy has proposed a global currency to honor the father of Keynesian economics- John Maynard Keynes. As an influential economist of the 21st century, Keynes was the antithesis of free markets and limited government. He believed that massive government intervention in the marketplace would somehow lead to prosperity.  In 1940, John Maynard Keynes first developed the idea of a supranational currency, called the bancor, to be the world’s key currency. When asked about the long-term effects of his economic policies, Keynes famously replied “in the long run we are all dead.”

A global currency would grant even more power to the international bureaucracy while failing to stabilize the global financial system. The IMF fully intends to push for a dollar alternative. Just last week, the IMF released another report praising the idea. In a recent speech, Socialist Dominique Strauss-Kahn said there is “a sense that money sometimes flows around the globe in too-volatile a fashion and that countries need a more stable, more predictable external environment in order to prosper.”

How would the global currency work?…

Read the rest at FreedomWorks.

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