U.S. should beware single-currency world.

American consumers may find their financial lives in turmoil if "New Age" monetarists have their way and create a single global currency, warns Lewis J. Walker, president of Walker Capital Management Corp., Atlanta, Ga. "A monetary crisis is brewing, one largely ignored by the mainstream press. A flash point is building which in the 1996-2000 time frame could ignite an inflationary spiral in the United States--precipitating unparalleled volatility in stock, bond, and commodity markets."

Walker points out that the U.S. dollar has weakened dramatically against other currencies in the past 20 years, and this may open the door for many influential people in high places who want to create a single global currency unit, similar to the regional European Currency Unit, but worldwide in scope. "Envisioned is a single global monetary authority to manage the currency unit of the New World Order, an international version of the U.S. Federal Reserve, a role likely passed to the World Bank."

What will happen if the dollar no longer is king? "Read British history," says Walker. He believes that an "abdication of sovereign power over our money and our monetary policy to an unelected world body" would be disastrous for the...