And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name. Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six hundred threescore and six. (Rev. 13:16-18)

"Few people had heard of the United Future World Currency movement until Russian President Dimitri Medvyedev held up one of the prototype coins in support of the concept of an alternative world currency to the US Dollar. He was heard to comment, 'Here it is, you can see it and touch it. This is a symbol of our unity and our desire to settle such issues jointly.' "

"...Since that momentous news story, the UFWC project has taken on a life of its own. There have however, been several supporters of the idea along the way, including the likes of the late Arthur Schlesinger Jr., Former New York Governor Mario Cuomo, Canadian Prime Minister Paul Harper, the late Pope John Paul II, present Pope Benedict XVI, and even Princess Elettra Marconi, daughter of famed communications pioneer Guglielmo Marconi, to name but a few."

Weekend At Bernanke's

Nov. 27, 2011

Weekend at Bernanke's

By WorldNetDaily.com

http://www.wnd.com/index.php?fa=PAGE.view&pageId=371925

     It's perfectly understandable why so few people are paying attention to the crisis that is threatening the global financial system, even though the professionals are biting their nails like little children about to embark upon their first rollercoaster ride. In addition to all the confusing and esoteric terminology being thrown around more freely than medical terms on a hospital show – before being introduced to "House," I didn't realize that all medical conditions, no matter how rare, are treated with either surgery or steroids – it is hard to distinguish between the gravity of a Dubai corporation asking for a loan extension and the Italian government collapsing for the 343rd time since Mussolini fled Rome.

     There is a certain amount of crisis fatigue now, even among those of us who pay close attention to the ups and downs of the global markets and the economic statistics. One can only anticipate disaster so many times before being tempted to throw up one's hands and assume that the global economy is going to muddle through somehow, all apparent reason and evidence to the contrary. But the fact of the matter is that things have changed considerably since 2007, when the first material credit events, which I and various others had been expecting since 2002, began to take place. Some of them are well known, others much less so. But two of the more significant occurred in the last month. I won't bother to go into the details of MF Global's legally stealing $1.2 billion from the accounts of its clients, as the negative implications of this sort of activity on investor confidence in the system should be obvious. But very few people understand the potential implications of the steadfast refusal of the European Union to permit the default of countries that every observer knows to be mathematically incapable of paying back their debts.

     While the amount of credit default swaps has shrunk considerably from the $62.7 trillion that existed in 2007, the amount has been growing again and presently stood at $32.4 trillion at the end of June 2011. These can be best understood as insurance taken out against the possibility of a default by a corporation or a nation whose debt is being held. For example, if the Chinese, who presently hold $1.1 trillion in U.S. Treasury bonds, were worried about a U.S. default on its debt in light of the failure of the congressional super-committee to reach an agreement on reducing the deficit, they could take out insurance against that failure by utilizing a credit default swap against that $1.1 trillion in U.S. debt.

     The problem is that insurance is a good business for a financial institution, so long as the events against which it is insuring only occur to the extent that the insurance company is expecting. And since sovereign debt, which is a fancy name for the debt incurred by national governments, is considered to be completely safe, the parties insuring bond-holders against sovereign default didn't bother to maintain the funds necessary to pay off any claims. Since their inability to pay off on the default insurance they sold would not only take down the insurers but also many of the institutions holding the worthless debt, the European Commission, the European Central Bank and the International Monetary Fund have decided that the solution is to pretend that defaulting countries are not in default.

     The reason this is a disastrous solution in which the cure is actually worse than the disease can be explained by a simple analogy. Let us suppose that you are considering a purchase of life insurance to support your family in case something happens to you. Let us also suppose that the life insurance companies, having failed to take into account an unfortunate reoccurrence of the lethal Spanish flu of 1917, cannot afford to pay out all of the insurance claims now owed to the survivors. And finally, let us suppose that the various governments of the world decide to save the insurance companies and prevent them from going bankrupt by declaring that none of the recently deceased are, in fact, dead. Are you going to buy a life insurance policy that doesn't pay out in the event of your death? Is anyone?

     In refusing to admit that Greece is in default and attempting to hide behind verbal gymnastics (by which I mean the "voluntary" "hair cut" on Greek bond-holders intended to reduce the amount of outstanding Greek debt by 75 percent without calling it a "credit event" that would trigger the debt insurance payouts), the various financial authorities have not only rendered the $32.4 trillion in credit default insurance worthless, but they have effectively destroyed the very concept of default insurance. Moreover, by limiting the ability of investors to protect themselves against the risk of default, they have necessarily increased the amount of risk involved in loaning money and, therefore, increased the amount of return that must be offered to investors to make taking those risks worthwhile.

     This refusal to call time of death on an obvious corpse is why bond yields have skyrocketed in the last two weeks. The Italian five-year bond is at 7.827 percent, more than twice as high as one year ago and over the seven percent figure assumed to trigger the death spiral. The Spanish five-year is creeping every closer to it, having hit 6.156 percent, Portugal's five-year is at a lethal 16.214 percent, higher than Greece was one year ago. While Greek yields are no longer available at the Wall Street Journal's Market Data Center, they exceeded 100 percent last week. I can't say with any certainty that the game is up yet. The Federal Reserve, the European Central Bank and the International Monetary Fund have managed to play "Weekend at Bernanke's" with the global financial system, and the global economy, for longer than I ever imagined possible. They have instituted extra-democratic regime change in Greece and Italy already, and will probably not hesitate to do so in France, Germany and the United States if it is necessary to maintain the illusion of a functional status quo.

     But eventually, the corpse of the global economy is going to start stinking strongly enough that its morbid state can no longer be denied. We already have been witness to economic growth that is not economic growth, foreclosures that are not foreclosures, sovereign defaults that are not defaults and democracies that are not democracies. It would appear to be only a matter of time before we learn that our money is no longer money.

UFWC Coin Becomes First Currency In Space

July 2011

UFWC coin becomes first currency in space

by Future World Currency

http://www.futureworldcurrency.com/Documents.asp?DocumentID=4303

     The world and its diverse population were brought closer together above in the heavens and cosmos when two seemingly different programs were united with just one spontaneous deed of goodwill. While both initiatives seek to unite the world’s population, one with the co-operation of the International Space Station, the other through a coin with the United Future World Currency’s (UFWC) initiative, there was one unusual turn of events with a difference. Both programs came together when Paolo Nespoli, an Italian astronaut with the European Space Agency and chosen as one of the three person crew aboard the Soyuz TMA-20 which docked with the International Space Station packed a little something extra for the ride.

     In the wake of NASA’s last ever mission of the Space Shuttle, it was recently revealed that Flight Engineer Nespoli brought along a 17 gram, silver prototype coin minted by the IPZS (Italian State Mint) in limited quantity for the UFWC ostensibly as a good luck charm. A silver example was given to Flight Engineer Nespoli by the UFWC’s founder, Dr. Sandro Sassoli shortly before his lift-off as a good luck charm. Mr. Nespoli confirmed to Dr. Sassoli at a recent reunion between the two that he had indeed taken the coin with him and as such, the coin accompanied him for the 159day mission while he was a resident of the international Space station from December 2010 to May 2011. Dr. Sassoli, founder and general coordinator of the UFWC initiative commented: “The aim of the International Space Station and of UFWC are actually one and the same, to link all countries and people of the world with the motto “Unity in diversity” further adding “I am so enthusiastic of this achievement of Paolo’s which through his good deed launches a message of real unity and brotherhood.”

     Flight Engineer Nespoli’s amazing photographs clearly show both sides of the encapsulated half ounce silver coin floating in zero-gravity space with the stunning backdrop of the earth providing a spectacular image. The coin’s legend, “UNITY IN DIVERSITY” is visible as well as the UFWC’s own “tree of Life” design. This event is of great interest for both coin collectors and space enthusiasts alike. Paolo has had quite a following regarding his experience aboard the International space station with his tweets and photographs. Both versions of the 2009 dated first issue coins are eagerly sought by coin collectors due to the publicity surrounding their initial launch when Russian President Dimitry Medvedev’s enthusiastically endorsed the UFWC initiative in front of the world’s media. Further prototype coins have since been produced in several world mints including the Royal Mint in the UK, the Italian State Mint, and the Casa De Moneda in Mexico with several other projects planned for the remainder of 2011 and well into 2015 in time for “EXPO MILANO 2015.” For more information about the United Future World Currency, please visit their dedicated website.

Tracking And Guarantee Label For The Security Of

New Generation Banknotes 

2008 

ETG System: Tracking and Guarantee Label for the security of

New Generation Banknotes of the UFWC project

http://www.futureworldcurrency.com/Documents.asp?DocumentID=3037

     AIM: This document provides a brief outline of a system that raises the security level on authenticity for all types of paper documents (e.g. banknotes, contracts, packaging and it is inserted in the UFWC program (tests of paper or precious banknotes)

TECHNOLOGY: This system is the integration of two technologies:

1. Cryptography (symmetric or asymmetric) and/or hashing.

2. Barcode.

     Thanks to cryptography, even integrated with hashing techniques, the authenticity, integrity, privacy and non-disclaimer of information can be guaranteed. Such a guarantee is made possible by a security code that is associated unequivocally with the information you wish to safeguard. Said security code can take the following forms, according to the application in question: digital signature, ciphering or hashing of information, or any combination of these.

     The security code generated as described above is codified as a barcode in paper documents. As a result, it can be read and verified rapidly using appropriate devices with optic and/or magnetic readers.

     EXAMPLE APPLICATION (Figure 1): Let’s take the example that we wish to prevent a banknote serial number being tampered with. The serial number can be signed or simply codified (given the limited length of serial numbers) using a private key belonging to the authority that has issued the banknote. The result of this operation is a security code, in the form of a barcode, that can be printed on the banknote. The security code is a key element for guaranteeing the security features that we wish to ensure. Indeed, this tool will allow us to guarantee the integrity of banknote serial numbers, in other words, they cannot be tampered with.

.

Serial number authenticity can be verified with a simple barcode scanner and appropriate software to decode the barcode using the public key of the authority issuing the banknote. The barcode scanner, software and issuing authority’s public key can be freely distributed to those requesting them (organisations, businesses or ordinary citizens). It is important to note that this process is entirely analogous with the digital signature process.

     NOTE: It must be stressed that this mechanism prevents tampering with serial numbers, but not banknote duplication. Should a counterfeiter produce a thousand copies of the same banknote, all with the same serial number and corresponding barcode, the system would not be able to detect the fraud. On the other hand, inserting the barcode guarantees the detection of fraud that alters the serial number but leaves the barcode intact (and vice versa). It is important to note that it is impossible to print a fake banknote with an invented barcode and serial number, since this would require the counterfeiter to have access to the private key belonging to the banknote issuing authority. This key, by definition, remains exclusive to the issuing authority. In short, this system allows us to guarantee that a serial number has not been tampered with, but not that it has not been duplicated.

     Nonetheless, the inclusion of the barcode automates verification of any duplicate banknotes. Indeed, once fraud has been discovered, you need only scan the given banknote barcode and consult a database of barcodes for duplicate banknotes to reveal foul play.

     FIELDS OF APPLICATION: It is worth noting that a similar mechanism to that described above can be effectively used to guarantee the authenticity of information carried in medical prescriptions; checks; ID (e.g. passport, ID card); qualification certificates (e.g. driver’s licence, certificates of legal qualification); fiscal documents (e.g. fiscal receipts, invoices); legal documents (e.g. contracts, laws, statutes); financial documents (e.g. financial statements); season tickets for events (e.g. football, concerts, museums) or transport and bus/train tickets; pharmaceutical packaging; and product packaging. In short, any paper document that carried important information.

     This document provides a brief outline of a system that raises the security level on authenticity for all types of paper documents (e.g. banknotes, contracts, packaging. See areas of application.) and it is inserted in the UFWC program (tests of paper or precious banknotes)

Interview With United Future World Currency Project Coordinator

Sept. 1, 2010

Interview with United Future World Currency Project Coordinator

By Michael Alexander

http://www.futureworldcurrency.com

     Few people had heard of the United Future World Currency movement until Russian President Dimitri Medvyedev held up one of the prototype coins in support of the concept of an alternative world currency to the US Dollar. He was heard to comment, “Here it is, you can see it and touch it. This is a symbol of our unity and our desire to settle such issues jointly.” With this statement from Medvedev, the world’s media glare focused on the idea of a worldwide single currency alternative to replace the US dollar as a potential and feasible alternative. Dr. Alessandro Sassoli has been behind the idea of this project for more than 14 years. Since that momentous news story, the UFWC project has taken on a life of its own. There have however, been several supporters of the idea along the way, including the likes of the late Arthur Schlesinger Jr., Former New York Governor Mario Cuomo, Canadian Prime Minister Paul Harper, the late Pope John Paul II, present Pope Benedict XVI, and even Princess Elettra Marconi, daughter of famed communications pioneer Guglielmo Marconi, to name but a few.

 Russian President Medvedev holding UFWC Coin

     I first met Dr. Sassoli earlier this year at the World Money Fair in Berlin as he was exhibiting to interested coin enthusiasts examples of the very coins he had presented to the world’s heads of states and governments. While on a recent visit to London, we had the chance to catch up and discuss his project in detail and speak about the aims which he hopes to achieve, uniting the world with a coin!

Michael Alexander: It’s a pleasure speaking with you today, but first, I have to ask, the UFWC came to the forefront of international media attention only after the Russian President held up one of your coins in support of your movement at the last G-8 meeting in Italy, why has it taken so long for the world to find out about this extraordinary project that you’ve organized?

Dr. Alessandro Sassoli: The idea of a super-continental currency began in 1996 during a meeting I had with professor Arthur Shlessinger Jr, who was an advisor to President Kennedy. But the time to go ahead with a detailed plan of action wasn’t right. The new European single currency was on the minds of almost all Europeans and the world, and there were still a lot of problems to solve. The thought of an international currency had to be put on hold. In 2000 and with just two years before the introduction of EURO banknotes and coins, I registered the trademark “Eurodollar.” The thought behind this was looking for a way of linking in a monetary capacity, the USA and Europe. We finally launched the project at the G8 summit in Italy, July 2009. The Cabinet of the Italian Prime Minister hosting the G-8 gave me their approval to present model coins to all the World Leaders attending.

     It could have been the end of the subject there and then and all I might have hoped for was a “thank you” letter from their secretaries or personal assistants. It wasn’t until Russian President Medvedev held up the coin with such enthusiasm during his press conference for all of the world’s media to see and I was astonished! “That’s our coin!” and the project of the United Future World Currency (UFWC) was really launched in a big way. Obviously this meant that the time for us was right. In September 2009, I was interviewed for the first time by CNN International about the UFWC, that also helped quite a lot!

MA: You mentioned an earlier meeting with Arthur Shlessinger which sparked off this idea but just what inspired you to organize the UFWC project itself…?

DAS: The project’s aim is very clear and straight-forward and that is for a single currency that seeks to unify our continents which is the UFWC’s ultimate goal. We hold the example of the EURO as evidence that many countries can come together, especially during a period of international crisis. I think we can all agree that the EURO has been tested recently! In the world there are still approximately 150 different national currencies, I think that’s too many for an increasingly integrated global community. In our program, currency as it is defined, assumes the principle goal which it has had since its invention centuries ago: to facilitate and codify human commercial and social exchange. It becomes a pure form of “communication” between different peoples – a communication of ideas, principles, information and culture.

MA: Speaking of the EURO being tested, under the present circumstances with Greece, do you think it’s still a good idea to support a EURO-zone currency let alone a world-wide single currency?

DAS: Yes, of course! Even though it has had some difficulties recently, this is something which all currencies experience, even the pound or dollar. I believe the EURO has become a symbol of unity in Europe, we have had the EURO since 1999, we’ve used it every day since 2002 and it is here to stay. We as Europeans must support it and now many of us can’t think of ever going back to national currencies. Of course, we shouldn’t forget our legacy currencies because they represented the history and culture of a country. I promoted and organized the Italian Lira farewell celebrations here in Italy, including producing a Monument to the Lira, made with three tons of old coins.

MA: There are many influential people supporting the UFWC, do you think there would be many more supporters if the project was better understood, and if so, what do you want the public to know about the UFWC project more than anything else?

DAS: Many people in the world believe that the project is a positive one and believe it’s possible for this to become reality in the next ten years, but it isn’t easy to promote a project like this. Dominique Strauss-Kahn, director of the IMF stated that it would be “intellectually sane” to explore the possibility of a new global currency in order to diminish the dependence from the Dollar. Nobel Prize professor Joseph Stiglitz has said he is sure that a new global currency – even a partial one, is possible. The momentum is there around the world, it’s just getting more people to hear about our project and really decide for themselves. Our project has presented the international community with the idea. Now, it has to be a project which has support not just from the powerful and well-known, but from ordinary citizens like myself around the world to make it happen.

MA: How do you envisage the UFWC units of currency fitting within a world of Dollars, EURO’s and Yen, and possibly other regions where there will be a single currency at some stage? Does your project have an element of being anti US Dollar or EURO?

DAS: No, not at all! Our project is in favor of both major currencies, the Dollar and the Euro equally! Our ideal unit would be a fusion of both currencies, plus some others such as the Japanese Yen, the British Pound and maybe even the Swiss Franc, providing the current status of the Swiss Banks and tax status is resolved. In our Manifesto, paragraphs 2 and 3 of the UFWC, we clearly state our goals and relationship that a unified currency unit would have with these two powerful and important currencies.

United Future World Currency Coin

MA: We’re going to discuss the coins now, the ones which were presented to the heads of State and governments last year in L’Aquila. Can you tell me a little about their design and if they have any specific meaning?

DAS: I’m glad you asked about this! Yes, the designs do have some symbolism. On the obverse of the one unit coins which we presented, the coin has the numeral “1” repeated five times in subtle layers which represent our five inhabited continents and the year of “2009” beside it. The coin includes five stars and carries the inscription “UNITY IN DIVERSITY” which is of course the basic idea behind our concept and project. This was the side of the coin which was designed by Luc Luycx (who is the designer of the common reverse of the EURO-zone coins) and very well I must say. The reverse of the coin shows a beautiful “Tree of Life” which also has five different kinds of leaves, each leaf can be found growing on all five continents. The inscription reads “UNITED FUTURE WORLD CURRENCY”. The designer for this side was Laura Cretara who was the former Chief engraver at the Italian State Mint who also designed the Italian 1 Euro coin. I’m very proud of the high levels of craftsmanship which resulted!

MA: Why were they struck at the Royal Belgian Mint?

DAS: The choice of the Royal Belgian Mint was because Luc Luycx is associated with them. I would like to mention that they did an excellent job striking these coins, we have had many compliments regarding these examples!

MA: I understand that other coins minted, can you explain when and how future examples will be struck?

DAS: Yes, actually there will be new issues of prototype coins this year. Within our new program many Mints will be joining the project. The Royal Mint of Belgium was the first, and I’m pleased to announce that the second National Mint to strike UFWC coins is the Casa de Moneda de in Mexico. Future coins are scheduled to be struck at the Italian State Mint and the Royal Mint here in the United Kingdom are scheduled to strike a very limited number of Palladium prototype coins. The Israeli Mint designed their UFWC coin inspired by world peace. We’re trying to spread the concept of a world-wide currency unit with some of the most important mints in the world. Eventually, we would like to have all five continents striking the future coins at the same time.

MA: You mention future coins, can you determine when the UFWC will decide on a final name, you can’t call them UFWC units forever?

DAS: No, you’re right, (smiles) and the name of the new currency has not yet been decided on. We are looking to involve as many School students worldwide as possible in order to name the UFWC coin, this will also include a symbol for international use. The EURO was for a very long time referred to as the ECU until a Finance Minister’s meeting in 1997 and they decided the future European single currency would be known as the EURO.

MA: Have there been counterfeit examples of the G-8 coins appearing on some auction websites? If so, what have you done to alert your supporters about these fakes and will your organization begin to offer genuine examples at a later date?

DAS: Yes, it’s true, there have been some of these coins found in the market and yes, these are all fake! Our organization has posted a warning about this on our website. I suppose it means that there is significant interest in our prototype coins so much so that someone out there will risk arrest and punishment if they are caught selling counterfeit merchandise. They must remember that our organization owns the copyright on their designs and only our office can authorize the sale of these coins, which we will be doing in the near future. If your readers do come across one of these fakes, please let us know about it, we would then inform the local authorities to protect both our name and our potential customers.

MA: Overall, how do you envisage your project developing in the next couple of years? Where do you see the UFWC and the actual units of currency in five years?

DAS: The world is evolving very fast. Maybe in just 8 years time, it might be possible to introduce a new super-national currency like the UFWC by 2018. However, in 2015, we will be conducting the most important test in our project’s short history with the Universal Exposition in Milan. We made contact with Mr. Lucio Stanca, the President of Expo 15’ who is very interested in launching the UFWC in the area of the Expo itself. It means that the expected 20 million visitors from around the world will experience the new currency, which will also have an “intelligent” function similar to that of a credit card. We are currently studying solutions with electronic engineers for this very function which we hope will produce a smart, high-tech “coin of the future.” But also we want to safeguard the traditional function of coins as far as the artistic aspect is concerned. We would still want to communicate beauty, culture, history, innovation and of course, the human spirit!