Dave Dee

As far as I know sermonaudio.com is staunchly Calvinistic which poses a big problem. Delivering a sermon on fornication and adultery is just fine but when you commit spiritual fornication and adultery it is far worse than anything Matthew 19:9 describes. Calvinism is spiritual fornication and adultery of the worst kind because it distorts and trashes the Gospel of Jesus Christ. Not only that, it misrepresents God and his character in a huge way. In fact, Calvinism espouses people to another Jesus which is nothing else than spiritual harlotry.

John

Thanks for that. And thanks for pointing out that they are ultra right wing thing. I did notice this – they support the New Apostolic Church take over of the USA against the Left-wing.

While the article correctly mentions calls to use special drawing rights (SDR’s) as the global reserve currency, the headline makes it sound as though the IIF is calling for one currency to replace all domestic currencies when they’re not. It’s definitely not mentioned in their October 4 policy document here:-
http://www.iif.com/press/press+161.php

True, the U.N. Survey suggests the introduction of a global reserve currency but this will not replace domestic currencies. Also, note that the proposal is attributed to Zhou Xiaochuan, the governor of the People’s Bank of China (see page 101 of the UN document referred to in the article).

Regarding global reserves, please bear in mind that governments hold reserves for various reasons, one of which is to help them trade and operate in global markets. Something like 65-70% of these reserves are held in US dollars. 85-90% of international trade uses the US dollar as the base unit of account. So at present the USD is the nearest thing to a global currency.

Regarding SDR’s, these are reserve fund assets, held by the IMF, in the form of a derivative or “synthetic” currency. They are merely accounting entries and their value is based on a basket of four key international currencies. They must have multiple domestic currencies to operate. Refer here:-
http://www.imf.org/external/np/exr/facts/sdr.htm

Because they are based on four currencies, the advantage of SDR’s is that their value is less sensitive to the movements in any one of the component currencies.

In the UN document, the Chinese also propose a new global reserve currency to ultimately replace SDR’s but this would have to take a similar form to an SDR and would not replace domestic currencies, if in fact the proposal ever progresses.

The reason China is taking this stance is because their reserves are heavily weighted to US dollars, so as the dollar has weakened so has the value of their reserves. If they sell off their US currency reserves to buy other currencies, the magnitude of the transactions will have the compounding effect of driving the USD down further. Because they are a net exporter, the value of their exports also falls as the USD declines. Not surprisingly, they raised this in the midst of the GFC (mid 2009).

The problems at the heart of this matter actually result from the reliance on a single currency.

I’d definitely not use WND as a resource. They appear to be an ultra right-wing US website mainly interested in trying to find left-wing conspiracies against the US. From the above they seem to be misconstruing something to sound like something it’s not. Their main fear is probably that the US dollar will lose its dominance. Suggest a more accurate and less politically motivated source like the Wall Street Journal or Bloomberg for financial news.

Hope this helps.

Glad to hear from a fellow believer from down under in beautiful NZ.

Hilgard

Oh darn, I was gonna ask for a passport haha 😉

No I am just another fellow born again Christian now living in New Zealand. Grew up in the Oranje Vrystaat