Published on Jan 12, 2015
The IMF’s SDR may soon become intra-central bank reserve currency, denominating even new bond issuances. We’d still use our regional fiat currencies (dollars, euros, yen, pounds, yuan, etc.) for day to day transactions.
It is likely that the Chinese Renminbi aka Yuan will be added to this IMF SDR currency basket in 2015 coupled with a revaluation of the fiat price of gold bullion many multiples higher to give some credence to this next global monetary system plan.
The value of the original SDR was initially defined as equivalent to 0.888671 grams of fine gold which, at the time, was also equivalent to one U.S. dollar. After the final collapse of the Bretton Woods system with Nixon closing the gold window 1971… in 1973, the SDR was redefined as a basket of fiat currencies. Today the SDR basket consists of the 4 fiat currencies: the euro – Japanese yen – pound sterling – and U.S. dollar. Note there are 31.1034768 grams of gold in 1 troy ounce.
Since 1973, the IMF ‘s SDR has lost over 95% of its value to Gold bullion. No matter how technocrats or the mass media dress up SDRs in convoluted financial speak, it is basically just another fiat currency folks .
Many experts believe the IMF in concert with central banks around the world, will revalue Official Gold Reserves to give the next monetary system an appearance of legitimacy but don’t be fooled. This organization’s legacy throughout the 3rd world is awful.
Of course precluding an IMF takeover of the world monetary system, we’ll likely have to live through a G20 bank melt down via bad derivatives with BIS / FSB endorsed bank bail-ins, frozen financial accounts, etc.
You may want to avoid derivative laden bank demand deposits (checking, savings, commercial, etc.). It is very possible in a crisis that banks would implement withdrawal rations of dollar bills from ATMs. Physical cash dollar notes held in a safe place may become very handy in the very real scenario of a sudden “bank freeze”. For day to day expenses, cash may indeed be king in a world of digitized currencies.
The International Monetary Fund’s (IMF) Special Drawing Rights (SDR) – http://goo.gl/9czKOe
Special Drawing Rights wiki – http://goo.gl/BCpOFp
Partially modeled after John Maynard Keynes’ wet dream – http://goo.gl/TTQjSX
China Currency Push Takes Aim at Dollar – http://usat.ly/1rWN3oo
The G20 must look beyond Bretton Woods II – http://on.ft.com/1A6R8Yh
Official Monetary and Financial Institutions Forum – http://www.omfif.org/media/in-the-pre…
The BIS sanctioned FSB, G20 bank bail-ins – http://linkd.in/1wQIzoX
The Big Reset: War on Gold and the Financial Endgame – http://amzn.com/9089645993
International Misery Fund – https://youtu.be/tLwSUwWhjFE
China wants SDR, James Rickards – https://youtu.be/DP1WcMTknS4
China in 1976, see #4 – IMF GOLD AUCTIONS + ISSUANCE of IMF SDR’S ➜http://goo.gl/WvVbJ2
Thanks to: /missiongalacticfreedom.wordpress.com