Thursday, September 29, 2016

Only Days Until World Money Changes Forever
Jim Rickards* explains the IMF plan for its special drawing rights (SDR) valuation basket, which is scheduled to be revised on Friday .. "This IMF plan has laid the foundations for a new monetary standard based on world money. While these SDR plans might seem complex, they’re actually not complicated. People will make it complicated or make it sound confusing but the Federal Reserve has a printing press, they can print dollars. The IMF also has a printing press and can print SDRs. It’s just world money that could be handed out and could be used to cause inflation. We will look back on that date a few years from now we’ll look back on September 30th, 2016 and reflect, 'That was the day the dollar began its demise.' Officially that’s when the Chinese yuan was put into the SDR and the SDR gained the backing it needs from the emerging markets, from China and from the BRICS, to become the new world money .. What the SDR does is it takes you out of the currency wars. A lot of people are getting whipped around, with volatility for which they’re not getting paid. They’re having occasional large losses based on the currency wars. The currency wars are not going away. Because you’ve got all 5 major currencies, it neutralizes the currency war activity and gives you a plan going forward."
LINK HERE to the article

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