An April report from the International Monetary Fund promoting a world central bank and a global fiat currency went totally undetected by the global press for months, but after a blog post earlier this month on the Financial Times’ website, it is now in the media spotlight.

Since the introduction of the European single currency, 23 different regional currencies have started circulating in Germany as people aim to revitalize local economies, lessen dependence on the euro, and challenge the established global monetary system. At least 40 more are in development.

After strong criticism of the U.S. dollar in recent weeks from world leaders, the United Nations added more pressure with yet another scathing report calling for a new international reserve currency issued by the International Monetary Fund.

As credit and economic activity continue to contract, analysts are warning of big problems and unprecedented fiat-money creation by the Federal Reserve System in the near future.

The attack on the U.S. dollar as the world’s reserve currency intensified over the weekend as French President Nicolas Sarkozy and Russian President Dmitry Medvedev openly discussed replacing the old global financial system with a new international monetary order.

The Federal Reserve’s monopoly on money and credit has caused so many problems for average Americans and the nation that addressing this issue is a prerequisite for returning the nation to economic sanity. Congressman Ron Paul has introduced a bill called the “Free Competition in Currency Act” (H.R. 4248), which would end the government-enforced monopoly by repealing “legal tender” laws, allowing private mints, and eliminating taxes on gold and silver coins.

The Obama administration is pushing for a second “stimulus” package as the amount of money flowing in the U.S. economy contracts at a pace not seen since the Great Depression, according to international news reports.

In addition to valiant congressional efforts for increased transparency, the Federal Reserve System and its cohorts are being targeted with criminal complaints and multiple lawsuits that attempt to shed to light on the central bank’s “bailouts” and its manipulation of the stock market, the precious-metals market, and more.

After hiring lobbyists last year to protect its interests amidst increasing public and congressional scrutiny, the Federal Reserve banking cartel is stepping up the fight to keep and possibly expand its regulatory regime while maintaining its secrecy. This month, regional Federal Reserve Bank chiefs publicly pushed the issues in what the New York Times described as a “public relations offensive.”

International Monetary Fund head Dominique Strauss-Kahn made a series of headline-grabbing statements late last week, calling for new supervisory authority over world financial markets and even the exploration of a new global reserve currency.