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Dominique Strauss-Kahn was trying to ruin US dollar

By Vision Reporter

Added 24th May 2011 03:00 AM

FOR those unfamiliar with America’s war on Black people, America listening to the woes of a Black woman who has been sexually harassed shows a form of justice for all.

FOR those unfamiliar with America’s war on Black people, America listening to the woes of a Black woman who has been sexually harassed shows a form of justice for all.

By Dr Kihura Nkuba

FOR those unfamiliar with America’s war on Black people, America listening to the woes of a Black woman who has been sexually harassed shows a form of justice for all.

A woman from West Africa, assaulted by a famous white male, a future president of France, to be listened to by the New York Police, is amazing. But is it?

Dominique Strauss Kahn or DSK as he is known is a global sacrifice for the world’s poor and has been humiliated in a manner reserved for Black icons. His crime, he has been masterminding a global project for dumping the US dollar.

New York police has been rummaging through DSK’s diaries, hotel registries, phone records, yearbooks and have made sure that the “great seducer” always appears handcuffed and dressed in a “pervie” raincoat with three-days stubble before they parade him in front of the media. He gets this treatment even though he has no criminal record and nothing, but the sketchy accusations of a room service cleaner.

What is his real crime? Strauss-Kahn was mounting an attack against the dollar and had called for a new world reserve currency that would challenge the dominance of the dollar and protect against future financial instability. He suggested adding emerging market countries’ currencies, such as the Yuan, to a basket of currencies that the IMF will administer to add stability to the global system....Strauss-Kahn saw a greater role for the IMF’s Special Drawing Rights, (SDRs) which is currently composed of the dollar, sterling, euro and yen, over time but said it will take a great deal of international cooperation to make that work.”

So, Strauss-Kahn finds himself in the same category as Saddam Hussein who switched from dollars to euros about a year before the war.

Gaddafi made a similar mistake when “he initiated a movement to refuse the dollar and the euro, and called on Arab and African nations to use a new currency instead, the gold dinar.” We know what has happened to Libya. DSK actually posed a much greater threat to the dollar than either Saddam or Gaddafi because DSK was in a perfect position to shape policy and to persuade foreign heads of state that replacing the dollar is in their best interest. And that is precisely what he was doing; dumping the dollar.

For a man who was at the top of the financial institution that is part of the new world order of financial chaos, he should have figured out that the dollar is the US main way in which shifty banksters and corporate bigwigs extort tribute from the poorest people on earth. Strauss-Kahn was rocking the boat, and now he’s going to pay.

In Khan’s words: “The IMF’s Special Drawing Rights, or SDRs, could help stabilise the global financial system....”. SDRs represent potential claims on the currencies of IMF members.....The IMF typically lends countries funds denominated in SDRs. While they are not a tangible currency, some economists argue that SDRs could be used as a less volatile alternative to the US dollar.

His goal was to have a reserve asset for central banks that better reflects the global economy since the dollar is vulnerable to swings in the domestic economy and changes in US policy.

DSK had settled on a new approach to policymaking; one that would abandon the worst elements of globalisation and put greater emphasis on social cohesion, cooperation and multilateralism.


The writer works with the Greater African Radio

Dominique Strauss-Kahn was trying to ruin US dollar

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