British Empire Pushes ‘Synthetic Hegemonic Currency’ To Run Its Genocide

Aug. 24, 2019 (EIRNS)—Bank of England Governor Marc Carney, speaking Aug. 23 at the Jackson Hole meeting of world central bankers sponsored by the Federal Reserve Bank of Kansas City, proposed a synthetic world currency to replace the dollar. Carney is also the leading organizer of global de-industrialization schemes, such as “Green finance” and decarbonization, and therefore his proposal must be seen as the tool to enforce a world Malthusian dictatorship to implement genocide on a large scale.

Carney addressed the rising role of China’s renminbi in international trade, but as “the most likely candidate for true reserve currency status, the renminbi has a long way to go before it is ready to assume the mantle.” The best would be “to build a multipolar system ... such a platform would be based on the virtual rather than the physical,” Carney suggested.

Carney wants a new Synthetic Hegemonic Currency (SHC) based on the model of Google’s Libra, but issued by a central banks system: “A new payment infrastructure based on an international stable coin fully backed by reserve assets in a basket of currencies including the U.S. dollar, the euro, and sterling.” However, “it is an open question whether such a new SHC would be best provided by the public sector, perhaps through a network of central bank digital currencies....

“An SHC could dampen the domineering influence of the U.S. dollar on global trade. If the share of trade invoiced in SHC were to rise, shocks in the U.S. would have less potent spillovers through exchange rates and trade would become less synchronized across countries....

“The dollar’s influence on global financial conditions could similarly decline if a financial architecture developed around the new SHC and it displaced the dollar’s dominance in credit markets....”