http://www.monetary.org/amacolorpamphlet.pdf
An Interview with Stephen Zarlenga
This was the point in time when the International Monetary Fund, the IMF, surrendered to currency speculation. They had a choice in 1970, 71, 72. They had a choice!
They could have curbed currency speculation, which is destructive, uncalled-for and absolutely not what currencies are supposed to be used for. A currency system essentially is set up to facilitate production, trade of real goods, and as a means of paying for that process. To turn it into a speculative gambling house where vast amounts of currency get moved from country to country at the speed of light plus 30 seconds — electronic communications are moving at the speed of light, but it takes 30 seconds to put the phone call through — that ends up destroying the ability of currencies to carry out their true function in terms of facilitating the creation of values for living.
It turns them into engines for promoting the engines of death. That is what currency speculation has done and the IMF had a choice. It could have stopped it, but it didn’t lift so much as a finger to stop it. Those decisions were made roughly in 1970-73. So, I was watching that, and understanding that the system was sick.
http://prosperityuk.com/2008/04/an-interview-with-stephen-zarlenga-2/
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