This seems to me like a last desparate attempt to institutionalize – i.e. spread the risk of – the failing neoliberal model.
LaRoche Denounces New Imperial Scheme: CFR Is Promoting A One-World Currency Dictatorship
Unhappily, mankind's experience with private money creation has undeniably been a long history of fraud, mismanagement and even villainy. Banking abuses are pervasive and self-evident. Major banks and companies focus on misusing the money system instead of production. For example, in June 2005, Citibank and Merrill Lynch paid over $1.2 Billion to Enron pensioners to settle fraud charges.
Private money creation through fractional reserve banking fosters an unprecedented concentration of wealth which destroys the democratic process and ultimately promotes military imperialism. Less than 1% of the population claims ownership of almost 50% of the wealth, but vital infrastructure is ignored. The American Society of Civil Engineers gives a D grade to our infrastructure and estimates that $1.6 trillion is needed to bring it to acceptable levels.
– extract from
The Need for Monetary Reform, by Stephen Zarlenga, Director, AMI