“Acmetal”:Currency of the Recession to make London Debut

The entire recession-bound world is about to come down with a bad case of “acme”. In an article from Agence France-Presse comes word that Kazakh President Nursultan Nazarbayev has the backing of the architect of the euro currency, Nobel-prize winner Professor Robert Mundell. “Nazarbayev, speaking at an economic forum in the glitzy new capital he has built on the Kazakh steppe, defended his proposal for the “acmetal” world currency saying it might “look kind of funny” but was not,” (The Australian, March 11, 2009).

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Nazarbayev may have been more forthright had he said it might “look kind of fishy”. The “acmetal”, combines the Greek world “acme”, meaning peak or best, and “capital”. Call it acmetal in Kazakh. Call it amero in the headed-for-economic-meltdown United States of America. That the acmetal now has the backing of a Canadian-born Nobel-prize winner does not make it any more palatable. When it comes to laying the intellectual groundwork for a single currency, Mundell is king, although he refers to himself as just “one of several godfathers”. These godfathers include anti-Americans UN Poster Boy Maurice Strong and big time speculator George Soros. There’s a fishy smell wafting over the pond and it can be traced right back to acmetal. In the U.S., experts were predicting three years ago that the collapse of the dollar was imminent. “People in the U.S. are going to be hit hard,” says Bob Chapman publisher of The International Forecaster newsletter. “In the severe recession we are entering now, Bush will argue that we have to form a North American Union to compete with the Euro.” (Debut of the `amero’, Canada Free Press, Dec. 14, 2006). Mundell, who backs the acmetal, said on Oct. 14, 1999, “The emerging multi-polar world...presents a better opportunity to create a world central bank with a stable international currency than at any previous time in history.” Asked in 2003 whether Milton Friedman’s suggestion that the euro areas could break up within 15 years was plausible, he responded: “An asteroid could hit our planet and demolish any area, or a world war could break out. No currency area is war proof. Even the US monetary union broke up in 1861.” The UK is, he says, already losing out by not adopting the euro. He told the Treasury: “It has lost foreign direct investment to the euro areas as a consequence of its fluctuating exchange rate. It has also lost political influence over other EU members in matters of economic policy.” ([url=http://www.timeshighereducation.co.uk]http://www.timeshighereducation.co.uk[/url], June 13, 2003). Born in Canada in 1932, Prof. Mundell received his BA from the University of British Columbia in 1953. He studied at the London School of economics and received his PhD from the Massachusetts Institute of Technology in 1956. From 1966 to 1971, he was economics professor at the University of Chicago and editor of the Journal of Political Economy.

“A world central bank controlling all national monetary policies and currencies--until such time as a single global currency may be established--is essential to the one-worlder’s East-West merger scheme. “As we have seen in the preceding chapter, the insiders’ penultimate goal is to create regional blocs in which the nation-states will become so economically and politically interdependent and integrated that the nations are subsumed into regional super-governments (the EU, WHFTA, APEC, etc.) with regional central banks and regional currencies. Once this is done, it is small work to merge the regional entities into a single global government.” - (The UN World Money System)

“I must say that I agree with President Nazarbayev on his statement and many of the things he said in his plan, the project he made for the world currency, and I believe I’m right on track with what he’s saying,” Prof. Mundell said, adding the ideas held “great promise”. “Mr. Nazarbayev and Prof. Mundell urged the Group of 20 leading developed and developing economies to form a working group on the proposal at their summit on the global economic crisis in London on April 2. “We should deliver our thoughts and the thoughts of this conference to the leaders of those countries,” Mr. Nazarbayev said, referring to the G8 and G20 nations. (The Australian)

The euro, for which Prof. Mundell says his enthusiasm has not waned, followed a route of stealth and surprise in that it had already been issued as replacement currency before the masses could coalesce to fight it. Even though the media spotlight is on the plans being discussed for Obama to be granted an audience with the Queen at Buckingham Palace on April 1st., the president will be in London for talks on global efforts to tackle the recession, central also to Gordon Brown’s plans for responding to the recession. While Americans are kept busy with Obama policies that are dramatically changing their country, will the `amero’ be unveiled under the name `acmetal’ at the summit on global economic crisis in London next month?

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