Tuesday, October 20, 2015
Globalist Agenda Watch 2015: Update 78
…From the IMF: The Dollar Reigns Supreme, by Default
…in order for the globalists to achieve this…
…Covered in Mainstream globalist propaganda reveals East/West conflict is a farce
Despite all the stories you’ve read about Russian and Chinese currency and trade deals that bypass the dollar, the dollar has barely budged from its dominant position. As The Heritage Foundation puts it…
“The U.S. dollar has dominated the international monetary system for approximately 70 years. While the U.S. economy has generated weak growth over the past six years and accumulated a large sovereign debt, the dollar’s status as an international medium of exchange and reserve currency (currency held by foreign central banks) has defied the odds and has not diminished.”
Given the dollar’s resilience and the globalists’ self-imposed goal of having a de facto world currency in use around 2018, how can they go from 2015’s dollar-dominated financial system to a SDR-based financial system in just 3 short years? Clearly a big, jolting change would be necessary, and it would have to include two key components:
1) Something would have to happen to cause a dramatic loss of confidence in the dollar, and
2) Something would have to happen to cause a dramatic increase of confidence in other currencies and the SDR.
Looking at the first component… nuking confidence in the dollar, we must remember that the dollar lost its gold backing back in 1971, so the only pillar on which its perceived value is based is the “full faith and credit of the US government.” In other words, the only thing that gives the dollar value is the US government’s willingness and ability to pay their bills.
So what happens to the perceived value of the dollar if confidence is lost in the US government’s willingness and ability to pay its bills?
The perceived value would plummet, of course, and that is why the globalists have arranged opportunities for both a US government shutdown and a US debt default in the current timeframe. We could be facing the debt default in as little as 14 days, although I suspect they might delay it until the Spring.
Looking at the second component… building confidence in other currencies and the SDR, we see why the BRICS nations, particularly China and Russia, have been beefing up their gold reserves in recent years. When they announce a partial gold backing/valuation of their currencies, the BRICS will create “safe” currency havens to which freaked-out dollar holders can run. Since the IMF also has substantial gold holdings, we can expect them to join the BRICS by backing the SDR with gold as well. I wrote about this in The coming BRICS gold standard, Ron Paul, and the Rockefellers.
We could see the BRICS’ first hint of the gold-backing scheme in about a week, when China debuts its next Five-Year Plan…
…A mere mention in that Plan of moving towards a gold-backed yuan would start the confidence ball rolling, but I suspect the actual backing won’t be implemented until the Spring at the earliest, around the time of the IMF/World Bank Spring Meeting.
I’ll go deeper into the timing of the upcoming events in the next update. For the previous updates from this series, click here.