China isn’t the only one with a plan to control the world’s economy. The International Monetary Fund, who are supposed to be neutral players in this game, have a plan of their own – and it involves their own internationally recognized non-currency money system.
“Since Federal Reserve resources were barely able to prevent a complete collapse in 2008, it should be expected that an even larger collapse will overwhelm the Fed’s balance sheet. Simply put, next time, printing another $3 trillion-plus won’t be politically feasible. The specter of the sovereign debt crisis suggests the urgency for new liquidity sources, bigger than those that central banks can provide, the next time a liquidity crisis strikes. The logic leads quickly from one world to one bank to one currency for the planet.
redeem anywhere in the world for any amount of money, however, the IMF only distributes them to countries on the brink of economic collapse, including three separate occasions to the United States.
Rickards continues, explaining the true role of the SDR:
“A 42-page IMF paper published in January 2011 with the innocuous-sounding title “Enhancing International Monetary Stability — A Role for the SDR?” — lays out what Rickards describes. “A multiyear, multistep plan to position the SDR as the leading global reserve asset. The study recommends increasing the SDR supply to make them liquid and more attractive to potential private-sector market participants such as Goldman Sachs and Citigroup… The IMF study recommends that the SDR bond market replicates the infrastructure of the U.S. Treasury market, with hedging, financing, settlement and clearance mechanisms substantially similar to those used to support trading in Treasury securities today.”
The genius of the scheme is that the SDRs would create inflation… yet ordinary people wouldn’t know SDRs were causing it. “Any inflation caused by massive SDR issuance would not be immediately apparent to citizens. The inflation would show up eventually in dollars, yen and euros at the gas pump or the grocery, yet national central banks could deny responsibility with ease and point a finger at the IMF.”
Yet when people lose faith in their government’s currency, what’s to stop them from adopting their own gold standard? One thing is for certain – those who are still holding onto their paper money when the economic collapse hits will be furious when they have nothing in their bank accounts – and nothing to lose.
