THE BIS WANTS CURRENCY BLOCKS

The Bank for International Settlements based in Basel, Switzerland, has called for the worlds currencies to be replaced by a smaller basket of currencies covering specific currency blocks.

From The Daily Telegraph at
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/02/20/cndebt20.xml

...But the powerful Bank for International Settlements (BIS) has now voiced grave doubts about the policy and called on politicians to begin debating an overhaul of the current global economic system.

In another radical move it has also suggested ditching many national currencies in favour of a small number of formal currency blocks based on the dollar, euro and renminbi or yen.

The whole point of this is that it will be easier for them to control the global economy. It will also be easier to ditch this smaller basket of currencies later for just the one currency to give a global currency. This will be electronic, and therefore traceable. I think this implies that certain activities which are currently outlawed will be made legal, and thus taxable e.g. drugs. This currency will be electronic because then there will be no bank runs and the banks don't have to keep hard currency anywhere, and you will therefore be virtually totally dependent on the banks.