Everybody Wants to Rule the World: The Currency Race

There is a lot of talk swirling around the reason for the Slave Trade in Libya these days.  There is this thought that because of destabilization in the region, insurgents have  overrun the region and lawlessness has abounded.  There are a lot of horror going on in the region, and we have only seen a fraction on the news.  Now that Libya is a failed state, we can only wonder what will happen as pleas for aid and intervention abound.   Now that the nation no longer has its long time head of state, Muammar Gaddafi, the world can only wonder what will happen.

But what is further hidden, are the secrets that Libya’s former leader took with him to the grave.  Gaddafi was on the trail of something that will eventually change the face of our world and result in what many have called, “The New World Order.”   In fact, he wasn’t the first, and likely will not be the last as the world continues to change.  A race is underway and that will ultimately effect how you and I do business.

The wonders of modern technology coupled with the wonder of communications has resulted in what we could never have imagined.  The world has become a greater more connected place where information is no longer housed in silos or in secret binders.  The 2008 financial collapse was a wake-up call for the world in financial terms.  It became clear that finance was run, not by actual capital or even backed by real tangible resources, but the idea of capital could be manipulated by taps on a mainframe keyboard.

We all began to understand the financial system differently.  Nations across the globe have realized that rich and poor countries are man-made ideals bolstered by currencies that are most often not backed by anything but hubris and technology.     This idea of the imaginary techno currency is further extrapolated in the idea of Bitcoin and Crypt-currencies.  It is the virtual equivalent of using buttons and bottle caps to exchange goods.

This understanding has led to several regimes seeking to redefine the currency market; and most notably the dollar which has its only value in the petrol-dollar (oil is only traded in dollars worldwide, giving the U.S. dollar a marked advantage).  It has been rumored that Saddam Hussein was looking to trade oil in euros instead of dollars; and the dearly departed Muammar Gaddafi was in the race to do the same in Africa.   Now we see China doing the same with its Gold back Yuan Futures which it promised to unveil at a regional summit.  Now, all o the world has begun to understand the Golden Rule:  He who holds the gold makes the rules.  This means having and controlling currency and central banks matter!

What might the world look like if there was an African central bank backed by all of Africa’s riches?  Quite frankly, Africa would be the king of the world.  Or what if China created a gold-backed currency?  Or Russia, Iran, Colombia, Venezuela or Brazil?  Imagine if the Gold and resources of the Incas created a Mexico far more powerful than we could imagine?  Now the race is own.  Who will rule the financial world?  Because after all, everybody wants to rule the world.

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