The Israel Deception

Is the return of Israel in the 20th century truly a work of God, or is it a result of a cosmic chess move to deceive the elect by the adversary?

Showing posts with label sdr. Show all posts
Showing posts with label sdr. Show all posts

Thursday, January 19, 2017

Newly disclosed documents show CIA involved in gold manipulation and pushing IMF's SDR as a 'gold replacement'

Earlier this week, the CIA released millions of formerly classified documents that involved many of their plans and operations over the past 50 years.  And one interesting disclosure involves how the CIA was focused on controlling the gold markets through the London Fix, and how pushing the IMF's SDR could potentially be a replacement for the world's reliance on gold as money.

CIA Concerns of Gold Market Manipulation (link) -  Document: Intelligence Memorandum - The World Gold Market- Semi Annual Review January - June 1970. 
The 1970 CIA memorandum reviewed in the video below shows a CIA concerned about gold market manipulation by the Swiss whom they characterize as "in an excellent position to influence the London free market fixing." The memorandum points to "strong circumstantial evidence that Zurich bullion dealers, under the leadership of the Union Bank of Switzerland are again manipulating the gold markets
This manipulation in turn was interfering with an IMF agreement with South Africa to sell its gold to the IMF under certain conditions when it could not sell its newly mined out put on the free market:.  
“While the [IMF] agreement essentially provides a floor of $35 an ounce for South African gold, it guarantees a free market supply large enough to keep the free market price at or near the floor at least through 1970.” 
The CIA memorandum bemoans Swiss manipulation of the gold market: “There is  strong circumstantial evidence that Zurich bullion dealers, under the leadership of the Union Bank of Switzerland are again manipulating the gold markets” “London bullion dealers had hoped that the 1969 agreement between the IMF and South Africa would restore London as the focal point of the world gold market. It has not.” 
Ironically, as page 5 of the memorandum notes, much of the recent gold fix rigging exposed in recent year, was correctly anticipated by the CIA some 47 years ago:"Manipulation of the free market price is suggested by the extremely narrow price range that prevailed for eleven consecutive weeks -- from later January through mid-March. During this period, more than 85% of all morning and afternoon fixings fell within the $34.97 to $35.01 range, with nearly 40% of all quotations set at exactly $35.00.   
Moreover, Swiss bullion dealers are in an excellent position to influence the London free market fixing. At each of some 255 morning fixing a year, the manager of Rothschild's bullion and foreign exchange department suggests an opening price based on a previous half hour of intensive telephone conversations with people at the Bank of England and a host of others, mainly dealers in Switzerland. 
Representatives of the four other houses are in constant telephone contact with their trading rooms and these in turn are in direct communication with as many as a dozen key clients scattered across Europe. The result is that supply and demand conditions in Zurich are strongly reflected at the London fixings." - Zerohedge
And this is what they had to say about pushing the SDR:
CIA Talks up the IMF's  Strategic Drawing Rights (link) - Document: Intelligence Memorandum - Special Drawing Rights: Paper Gold In Action - September 1970 
The gold standard under Bretton Woods Agreement was showing cracks in 1970. The CIA memorandum notes: “the only available means of increasing reserves abroad was through continued deficits in the US balance of payments, But the US no longer had excess gold reserves and other countries had become reluctant to accept large additions to their dollar holdings.” 
The CIA memorandum reflects the tenuous position of the gold market and the inclusion of gold in the international monetary system just prior to the break up of the Bretton Woods Agreement in 1971. The CIA viewed the newly created SDR as a potential replacement for gold calling it:  “a new type of liquidity as permanent as gold it self - to insure increases in liquidity”... “The SDR is a form of money and credit”
“SDRs can not be extinguished by being exchanged by gold -they can only be traded among central banks. And unlike gold, there are no private uses for SDRs that compete with their use as an international currency.” 
CIA however concludes that “Nevertheless, SDRs are not soon likely to supplant the dollar in the international monetary system. Foreign central banks need working balances which are presently denominated largely in dollars.” 
The primary foundation of the American empire was its ability to control the global reserve currency through the issuance of the U.S. dollar.  And when physical gold started to show to the world how fragile that currency actually was, even the CIA became involved in the manipulation of the gold price, pushing disinformation on its utility, and ensuring that peoples in the West remained under the dominion of a devaluing currency that would sustain the empire into the 21st century.

Thursday, November 3, 2016

SDR's for trade between nations, gold for the rest of us when currencies collapse

It is inevitable that the monetary system the world has used over the past 43 years will not only come to an end, but all signs are warning that this end is very near.  Going back to 1988, one of the Establishment's primary propaganda publications issued a forecast of a new global currency replacing the dollar by 2018, and here in 2016 we have already seen the beginnings of that currency through the IMF's announcement to circulate the M SDR (Special Drawing Rights) under Chinese authority.

Image result for the economist world currency

This means of course that during the transition, all fiat currencies like the Dollar, Pound, Euro, and Yen will experience extreme devaluations, or in some cases like perhaps the Euro, outright elimination.

But how long until this actually takes place?

A month ago one of the chief architects of the Euro creation back in 1999 published an op-ed on how the currency was flawed, and that its days numbered thanks to the deteriorating confidence and value imposed upon it by the European Central Bank.  And as we know in Japan over the past 20 years, the UK in recent months, and through the dumping of dollars by foreigners against the current global reserve, the clock is ticking on whether nations can get together in time to agree upon a way for a global reset, or if greed will bring their inevitable downfall through some global financial crisis.

Right now the first or perhaps even primary model for the next global reserve currency already exists, and is being propagated in the markets and in trade.  But this currency, known as the SDR, will only be available for nations to trade with one another at a central bank or Ministry level, and this leaves the 99.99% of us dealing with the aftermath of our own money's devaluation.

Thus while the world banks and governments prepare for the SDR to save their financial systems, what remains for you and I are the physical forms of money that have been a part of economics from the beginning of civilization.

We’ll soon experience profound problems with the U.S. dollar. I expect to see inflation in some areas, deflation in others. On the world stage, we could see anything up to and including a full-fledged currency crisis. 
Collapse is a calamitous process that destroys wealth like a tsunami hitting a seacoast. 
We’ll see several stages of the collapse play out in any event, because central banks are out of room to steer monetary policy outside of a very narrow channel. 
The Fed didn’t raise interest rates in 2010-11, when it should have bitten down on the proverbial bullet. Now, as the world economy teeters on the edge of major breakdown, the Fed can’t cut rates to boost the economy. Even if the Fed’s traditional rate-cutting medicine worked — and it doesn’t always work — that bottle of economic snake oil is nearly empty. 
Aside from the Fed, other central banks around the world are in even worse shape. Many of them participated in the failed negative interest rate experiment. We can’t look to them for any help at all. 
Sauve qui peut! 
This will put increased importance on special drawing rights (SDRs), or world money, and gold as possible tools with which to truncate the next collapse. I expect that many nations will use SDRs as a method to protect themselves — certainly the U.S.
But if you’re not a country plugged into the central bank, what’s left for us mere mortals? Your best option is to use gold. - Daily Reckoning

Sunday, September 25, 2016

Russia and China accumulates even more gold in August as world prepares for the end of dollar hegemony

This coming week could see one of the most anticipated financial events since central banks began their unprecedented policies of money expansion, stimulus, and quantitative easing six years ago.  In fact, dependent upon what China chooses to announce before Sept. 30, it could also be the most important financial paradigm shift since the U.S. took the reserve currency off the gold standard in 1971, or even as big as the implementation of the original Bretton Woods monetary agreement itself.

That is because China is preparing to both enter into the elite playing field as a fully recognized global currency through their inclusion in the IMF's SDR basket, and to also report their gold reserve holdings which dependent upon how much they choose to reveal, could create a seismic event that facilitates the beginning of the end of dollar hegemony.

And with both Russia and China continuing to accumulate large amounts of gold as recently as August, expectations are that China will report a number much greater than most analysts are conceiving.

This fact is not lost on the budding partnership of Russia and China, who continue to accumulate gold at a feverish pace. Russia continued to add to their reserves in the month of August, in which they added an additional 21.77 tonnes of the yellow metal, bringing their total gold reserves to 49.1 million ounces! 
In addition to this, China has also continued to move a portion of their massive fiat reserves into the more tangible form of money, gold bullion. They are continuing to accumulate gold, knowing that they are the most likely successor to the US dollar, and have the highest probability of being crowned with the "reserve currency" status. 
When that day will come is anyone's best guess, but what is no secret is the fact that China is set to rock the precious metals markets in the immediate future. By the end of this month , they are expected to announce an updated estimate of their gold holdings, something that many in the financial world believe is long overdue.
The reasoning for them finally tipping their hand and showing their cards is due to the fact that they are strongly being entertained to become a key member of the highly elite global banking currency, the SDR, and this is one of the stipulations in regards to their acceptance. 
The SDR is what some have called the "king" of fiat money and is a powerful currency in global settlements. This is perhaps just one more step for China in their path towards becoming the official reserve currency of the world. - Sprott Money

Friday, September 16, 2016

As China prepares to announce their gold reserve amount by end of the month, debate over gold backed Yuan increases sharply

As part of their requirements to enter into the SDR basket of currencies in October, China will soon be revealing the quantity of their gold reserves sometime between now and Sept. 30.  And with them also recently being appointed the managers of the M SDR internationalization program, debate over China implementing a gold backed currency is once again increasing at an accelerating rate.

At the heart of the discussion is how China is using their growing geo-political power to integrate 3rd world nations, especially those in Africa, in moving forward despite not having the economic finances to expand their infrastructure base.  And to date this has been shown to be moderately successful in a myriad of different ways, and could be the catalyst for catapulting a gold backed Yuan using their growing alliances and Silk Road strategies to envelop a large portion of the world under a financial umbrella that would be impervious to U.S. and Western subjugation.

In his March interview with CCTV the geostrategic analyst highlighted that China is "facilitating trade and development for Third World nations in ways major Western funders could not." Beijing is interested in boosting logistic networks in Eurasia and therefore it founded the Asian Infrastructure Investment Bank (AIIB) to fund the projects. 
Furthermore, "China may also offer barter trades in lieu of cash transactions for rail infrastructure projects, as was the case with Thailand. It seems to work. For cash-strapped economies, barter may emerge as an essential instrument of regional economic stability and a 'gold yuan' may help facilitate such a paradigm shift," Maavak elaborated speaking to Sputnik. In the context of the ongoing Eurasian integration, the RIC (Russia, India and China) nations may "weaponize" their gold holdings to ring-fence the Greater Eurasian geo-economy, according to the analyst. - Sputnik News
Whether it is through a gold backed SDR, or a gold backed Yuan, the world is rushing towards a return of some form of a gold standard.  And unfortunately for the West, which has been spending their currencies bailing out their banks and propping up their stock markets, China has been the one cultivating economic partnerships that when the time comes, could catapult them into becoming the masters of the next global financial system.

Tuesday, August 23, 2016

Chairman of China's Gold Association confirms SDR just one step in the future backing of the Yuan with gold

Song Xin is the Chairman of China's Gold Association and has spoken strongly in the past of the need to see a return to a gold standard for global currencies.  And on the Association's website, Xin has a publication out where he suggests that the nation's push to internationalize the SDR basket of currencies is just one step of many towards the ultimate goal of a gold backed Yuan which will be the cornerstone of the Silk Road initiative.

Song Xin, Chairman of the China Gold Association, General Manager and Party Committee Secretary of the China National Gold Group Corporation: Stick to the gold mission and boost innovative development 
As the sole central enterprise in the gold industry, China National Gold Group Corporation is a firm defender of renminbi internationalization, pioneering demonstrator of the country’s “One Belt and One Road”, and faithful guardian of a happy life for people. It’s the direction that we should strive for. 
On March 10 during the two assemblies, Song Xin, Chairman of the China Gold Association, General Manager and Party Committee Secretary of the China National Gold Group Corporation, was the guest in Xinhuanet’s 2016 two assemblies special Interview. In the program Dialogue with New State-owned Enterprises and Cheer up in the “13th Five-Year Plan”, he proposed the conclusions above. Besides, in the in-depth dialogue, Song Xin systematically illustrated topics including the functions of renminbi internationalization, effectively enhancing gold supply, realizing improved quality and efficiency of enterprises, practicing the central party’s “Five Development Theories”, and fulfilling the responsibilities of central enterprises. 
About Gold’s Functions: Increase Gold Reserves And Accelerate Renminbi Internationalization. A Close Relationship between Increasing Gold Reserves And Joining The SDR 
When the credit lines of paper currency declines and there are enough gold reserves, people can be less worried about the existing credit system and enhance their confidence in the currency. 
Last year, China joined the IMF (International Monetary Fund) Special Drawing Rights (SDR), signifying the renminbi's march towards internationalization.
Song Xin pointed out that the renminbi is closely related to gold. Gold is priced in US dollars throughout the world and in renminbi in China. There is a special relation between the renminbi and gold. We have continuously increased gold reserves since China strove to join the SDR basket of currencies. By the end of February this year, our gold reserves have increased to 1788.45 tonnes. In other words, China has continuously increased its official gold reserves and publicized the amount to the world, keeping a close relation with renminbi internationalization and joining the SDR. - CNGold.Org.CN
China is moving fast and furiously towards a full scale internationalization of their currency in global trade and settlement, and as Koos Jansen notes in his own article on this...
I think for China the SDR is just a means to an end. The end being to internationalize the renminbi, which of course is connected to the dollars retreat. And as Song Xin clearly states, “gold forms the very material basis for modern fiat currencies” and, “gold reserves should become the cornerstone … for renminbi internationalization”.

Tuesday, August 16, 2016

Economists are looking at the potential of adding gold as the 6th currency to the IMF SDR

As the Chinese get ready to not only become the 5th member of the SDR basket of currencies in September, they are also being given the authority to issue M SDR bonds for the first time in decades.  But among these new changes to the IMF's international currency there is another element being discussed by certain economists, and it involves placing a 6th currency into the basket.

And that currency is gold.

“So there you goto include a commodity like gold into the SDR as a six currency component could help to make the SDR, more neutral to global cycles and more representative of the shift in economic power witnessed over the last two decades. 
The idea of adding gold to the SDR was also studied by professor Catherine Schenk in 2011. According to her study to, ‘re-introduce a role for gold in the international monetary system’ would,  ‘provide a counterweight to the impact of the depreciation/appreciation of the US$’, and could, ‘reduce vulnerability to the USD exchange rate’
Professor Robert Mundell, a special advisor to the Chinese government, is also in favor of bringing gold back to the monetary system: ‘There could be a kind of Bretton Woods type of gold standard where the price of gold was fixed for central banks and they could use gold as an asset to trade within central banks. The great advantage of that was that gold is nobody’s liability and it can’t be printed. So it has a strength and confidence that people trust. So if you had not just the U.S. but the U.S. and the EU (area) tied together to each other and to gold, gold might be the intermediary and then with the other important currencies like the yen and Chinese Yuan and British pound all tied together as a kind of new SDR, that could be one way the world could move forward on a better monetary system.’  -  CD Fund

Thursday, August 4, 2016

Two major gold events for China and the Islamic world assure prices to skyrocket between now and October

With gold prices holding support levels over $1350, the markets are preparing for two major events are are sure to skyrocket prices between now and October.

Currently, the primary body on Islamic affairs which sets the framework for Sharia Law is in talks with the World Gold Council to change their long-standing restrictions for Muslims to own gold as an investment.  Once these restrictions are lifted, the potential of two billion Muslims entering into the gold sphere would have an even greater impact on the price than what we have seen over time in India where gold is a fundament of the nation's culture.

As a result, the World Gold Council is working with The Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) and Amanie Advisors to develop a Shariah Standard on Gold. This Standard will provide guidance from the Shariah perspective on the usage of gold in financial and investment transactions for Islamic financial institutions and participants. The Standard also aims to increase transparency and harmonisation regarding the use of gold in various market practices. 
We want to create a Standard that meets the requirements of all active participants in the market. The Standard will enable organisations to work more efficiently in creating Shariah compliant gold products, it will enhance access to gold in the Islamic world and it will help to address the liquidity management issues currently facing the industry. - Gold.org
With China, the game they are undertaking is a bit different as they are expected to announce their current gold holdings in preparation for the issuing of new Special Drawing Rights (SDR) bonds for the IMF.  And the result should be a shock to the markets as the West believes China only has around 1600 tons of gold in their central banks, but the real number is estimated to be between 15,000 and 30,000 tons.

The importance of their plans to issue SDR bonds is that it is a major blow to the U.S.'s control over the global reserve currency and to dollar hegemony, and will give nations who are disgruntled with having to purchase dollars simply to transact in the global economy the power to bypass this method and go through China under a new reserve system using the SDR.

Friday, December 4, 2015

Not even a day after the IMF added the Yuan to the SDR, the world rushing to capitalize on it

On Nov. 30 the IMF fully announced that the Chinese Yuan would be accepted as a global currency within the banks Special Drawing Rights (SDR) basket of currencies, and with this move China is now an international player in the global monetary system.  And perhaps most interesting in the next stage of support towards the future of the dollar and its singular reserve currency status, is that countries and banks are already rushing in to push the currency towards greater use just one day after it became part of the IMF.
Following the IMF’s announcement, the nation of Argentina publicly threw in their support for the Chinese Yuan to expand its reach in global trade and monetary hegemony.  And this act will help open the door for many more nations to divest their dollar reserves since many of the mechanisms that required the use of the dollar have already been duplicated by Beijing over the past three years.

Read more on this article here...

Wednesday, December 2, 2015

Got Karatbars? IMF's inclusion of the Yuan is first step towards a return to a gold backed monetary system

Monday, November 30 was a red letter day in the annals of the global monetary system as the International Monetary Fund (IMF) recognized the legitimacy of the Chinese RMB, and accepted it into its Special Drawing Rights (SDR) basket of currencies.  This move not only opens the door for expanding use of the Yuan internationally, but it is the first step in a long game of returning money back to a gold standard in either trade or direct currency use.
Today’s news is a historic milestone. The dollar’s days are numbered, and the new global economic order is shifting into place. 
As many insiders have expected, China has now officially gained status among the world reserve currencies, taking place alongside the dollar, the euro, the pound and the yen. 
The IMF decided to grant this upgrade as a result of financial and monetary benchmarks that Chinese leaders worked towards during the past several years. Its implications run deep. 
The Chinese renminbi will hold about 10% weight in the basket of currencies, with adjustments in the value of the euro, pound and yen to make room for it. Though the weight of the dollar, which holds 41.9% of global reserve value under the Special Drawing Rights (SDR), will not change with the inclusion of the renminbi, the symbolic challenge to dollar supremacy is obvious enough. - SHTFPlan.com

China has already laid out the basic foundations for expansion of the Yuan in international trade as over the past 30 days they have instituted bond hubs in London, Frankfurt, South Korea, and also Russia.  And just a day after the IMF's announcement, both Argentina and the BRICS Bank showed their support for the Yuan to become a major part of the global monetary system.
The triggers for profound unspeakable sudden crisis are lead by A) a continued decline in the crude oil price, B) bank failures from expired oil contract hedges, and C) the default of between $6 and $11 trillion in Emerging Market debt. 
One or more of these events is likely to occur in the next few months, probably all three. 
All three are extensions of the death of the USDollar, which is manifested in its rise. 
Like a balloon it will pop. The system will not be able to withstand the shock. Systemic breakdown will give way to failure of the entire monetary system upon which the USDollar rests. The Gold Standard will be urged on, first in trade, then in banking, finally in currency. The USDollar will be swept aside, its rubble put in the dustbin of history, the memories likened to Rome during the Nero period. 
When the next crisis hits, it will be five times worse than the Lehman event within the United States in 2008. When the next crisis hits, it will be five times worse than the Asian Meltdown internationally in 1998. - Jim Willie via Silver Doctors
“The U.S. Mint's sales of American Eagle coins surged in November, with gold nearly tripling month-over-month and silver already reaching a new annual record as bullion prices fell to multi-year lows” reported Reuters.

In addition, one has to wonder if even the Fed knows that the days of the dollar are numbered, and that a catastrophic financial crisis is just over the horizon since on the same day the IMF welcomed the Yuan into the SDR, the Fed announced a new internal law saying they were no longer lending to banks, and would not even during an emergency where their mandate of 'Lender of Last Resort' has summarily been eliminated.

So if the global banking system is not only moving away from the dollar, and moving towards the Chinese Yuan, and China's ultimate goal is a return to the gold standard and a sound form of money, how can you get in on the action and be not only prepared for the sea changes that are occurring before our eyes, but also come out ahead when the new financial system is born?

You can accomplish this with a company called Karatbars.




Buying gold through Karatbars is one of the easiest things on the net.  In fact, the business model of Karatbars is to sell gold in affordable quantities, such as 1, 2.5, and 5 gram increments, and allow customers to get into the metal without having to shell out $1200+ for a single ounce coin.

And as added perks to signing up with Karatbars, as a customer or affiliate, Karatbars is working on a new e-wallet system that functions just like an offshore bank account, and is outside the authority of the banking system.  From there, you can take your fiat currency in any denomination... dollars, euros, yen, etc... and purchase physical gold which can either be delivered directly to you, or stored for free at one of Karatbar's vaults.

Additionally, any gold that you buy can easily be sold back to Karatbars, or any metals dealer, and if with Karatbars it is then exchanged for currency that is uploaded to you through a pre-loaded debit Mastercard which is connected directly to your e-wallet.  And as we know, MasterCard is recognized in nearly every country around the world, and usable in any currency that accepts it.

But perhaps the best feature with Karatbars is their affiliate program, where you can earn money off commissions from getting others to sign up and become a customer or affiliate.  Not only do you receive commissions from their purchasing of physical gold, but you also earn commissions from anyone who buys a commission package, with that money going directly into your debit MasterCard when you have enough units to cycle.

Imagine the ability to earn the money in which to buy your gold savings simply by purchasing a commission affiliate package one time, and then getting others to sign up and do the same thing.

How many businesses or entrepreneurs can build an infinite business with spending less than $400 of their own money?  And there is never a mandatory requirement to buy beyond what you desire, on your own schedule.  And there is nothing to lose, because you're using money (paper dollars) to buy gold (physical money) and in the end you don't lose a thing.


The global financial system, along with dozens of respected economists, are telling us that now is the time for the end of our current form of money, and the beginning of the transition into a new monetary system that is expected to be backed by gold.  And with banks, governments, and even Harvard professors mandating that central banks have no choice but to eliminate cash from usage by the people to stave off collapse, will you wait until it is too late to make a decision on how you will protect your wealth, and be able to function within the coming new monetary system?

To learn more about Karatbars, you can contact the individual who sent you this article, and click on their referral link to open a free account and begin buying, or building your own gold savings or business with the company of the future.

Wednesday, November 25, 2015

China opens up its Forex markets to foreign central banks

As China continues to accelerate the internationalization of the Yuan currency, a new element was introduced on Nov. 25 which will facilitate expanding its reach even further.  The People’s Bank of China (PBOC) opened up its Forex markets to foreign central banks, and will now allow these institutions to participate in swaps, options, and other Forex products.
Seven institutions will be part of the initial phase into foreign participation of China’s Forex market, and they include: Hong Kong Monetary Authority, Reserve Bank of Australia, Hungarian National Bank, International Bank for Reconstruction and Development, International Development Association, World Bank Group Trust Funds, and GIC Private Limited.

Read more on this article here...

Thursday, November 19, 2015

Argentina hops on bandwagon calling for internationalization of Yuan

On Nov. 13, the Vice-President of Argentina publicly announced his support for the Chinese currency and called for accelerated plans to internationalize the Yuan in global trade.  And in a statement where Amado Boudou mimicked Christine Lagarde’s support for the RMB to be added to the IMF’s SDR program, the Argentinian VP called for the Yuan to compete with the dollar to ‘change the global financial order’, and end the single polar reserve currency system that has reigned for more than seven decades.
Argentina joins a growing list of nations calling for an end to dollar hegemony, as direct bi-lateral trade programs continue to grow and replace the long-standing policy of using the U.S. currency as a medium of exchange for nearly all international trade.

Read more on this article here...

Friday, October 16, 2015

In just a few short months, China’s internationalization of the Yuan growing in massive leaps

Despite the fact that the IMF chose in August to delay for a year the inclusion of the Yuan as part of their Special Drawing Rights (SDR) basket of currencies, their extension may be closing sooner than many thought.  This is because in just a few short months, internationalization of the Yuan has accelerated to a total of 9.9 trillion in loans, which is just the spark needed by the world’s largest productive economy to gear towards a critical mass in Yuan usage, and making its inclusion into the SDR a sure thing.
In fact, the IMF is planning to once again take a look at bringing in the Chinese Yuan to the SDR as early as November when they analyze the amount and rate of Chinese monetary reforms and actions that have driven it to become the 4th most used currency in the world.

Read more on this article here...

Saturday, August 22, 2015

Get ready for next move against dollar as IMF delays Yuan inclusion to SDR for a year

On Aug. 19, the IMF announced that they were delaying the decision to include the Chinese Yuan (RMB) into the SDR basket of currencies for at least one year, or until Sep. 30, 2016.  The decision to exclude the Yuan in next year’s basket content was determined a week ago, but the announcement to go forward with allowing China to stabilize and strengthen its currency was only released today.
IMF executive board extends current composition of its Special Drawing Rights for nine months until Sept. 30, 2016.
IMF staff had recommended extending the current basket, which was due to expire Dec. 31, to minimize disruption if yuan added.
Board decision gives SDR users “sufficient lead time to adjust in the event that a decision were to be taken to add a new currency to the SDR basket”
Board made decision Aug. 11IMF says in statement - Bloomberg via Zerohedge


Read more on this article here... 

Tuesday, June 16, 2015

IMF begins process for bringing Chinese Yuan into the SDR

On June 14 the IMF sent a team of analysts to Beijing to begin the process of determining whether the Chinese Yuan will become part of the Special Drawing Rights (SDR) basket of currencies.  Already progressing quickly as a globally used trade currency since 2009, the Yuan or RMB is now looking to make its mark in one of the most important financial institutions in the West.
Since December of last year, the Chinese Yuan has become one of the top five used currencies for international trade, with more than 23 major economies creating swap lines to facilitate its use.  And at the same time that the dollar is losing market share in global trade, the RMB has jumped more than 4% in just the past 12 months.

 
Read more on this article here...

Sunday, April 26, 2015

Is the IMF trying to beat China in the creation of a new reserve currency?

Earlier this year, China announced that they will have their new SWIFT system fully functional by either September or October and can then fully float the Yuan currency worldwide.  Many are believing that once SWIFT is up for the world’s largest economy then it will be the end of the dollar as the global reserve currency.
However, a new report out from Stansberry Research is alleging that the IMF is not planning on sitting idly by while the East wrests control from them over the global monetary system, and could be finalizing plans of their own to replace the dollar before China does, and if so it would probably be in the form of the Special Drawing Rights (SDR) currency.
 
Read more on this article here...