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The latest G-20 meeting took place in China last week end. This location was significant, because China’s yuan is to become one of the world reserve currencies on October 1, 2016.
This coming event, which was agreed upon last November, sets up a situation where the next world financial crisis will see the IMF pumping SDR liquidity into the markets, instead of the US dollar. This will have the effect of replacing the dollar with SDR’s (Special Drawing Rights), which represent a basket of currencies, rather than solely the US dollar.
“The next five weeks will mark one of the most significant transformations in the international monetary system in over 30 years….
“The hidden agenda involves the formal transition from a dollar standard to an SDR standard in world monetary affairs. It won’t happen overnight, but the elite decisions and seal of approval will take place at these meetings….
“On Jan. 7, 2011, the IMF issued a master plan for replacing the dollar with SDRs….
“In November 2015, the Executive Committee of the IMF formally voted to admit the Chinese yuan into the basket of currencies into which an SDR is convertible….
“On Sept. 30, 2016, at the close of business, the inclusion of the Chinese yuan in the SDR basket goes live.
“On Oct. 7, 2016, the IMF will hold its annual meeting in Washington, D.C., to consider additional steps to expand the role of SDRs and make China an integral part of the new world money order….
“Thereafter, the international monetary elite will await the next global liquidity crisis. When that crisis arrives, there will be massive issuances of SDRs to return liquidity to the world and cause global inflation. The result will be the end of the dollar as the leading global reserve currency.”
Take note: “On October 7, 2016 the IMF will hold its annual meeting in Washington, D.C.” This is precisely 10 years after we poured out the seventh bowl of water and wine in Babylon, NY on October 7, 2006, which (we believe) foreshadowed the subprime mortgage crisis in the summer of 2007 and the banking crisis of September 2008.
It is something to watch. The locations of high-level meetings are usually chosen to connect them the place with the decisions being made. That is why the G-20 met in China last week end, and I believe this is why the IMF is meeting in Washington next month. It tells me that the world leaders will decide the fate of the US dollar and perhaps plan the next Lehman II bank crisis.
The next Lehman event could be seen in a Deutsche Bank collapse this time around. Whatever happens, the solution will be to recapitalize the banks with SDR’s, rather than with US dollars, and this will begin the process of devaluing the US dollar and reducing its importance in world trade. This crisis could happen at any time, but it seems more likely that they will wait until next year (or possibly longer) to allow the SDR’s to become accepted and integrated into the system.