Head of IMF Proposes New Reserve Currency!

• All signs point to the death of the USD. The PTB are also signalling their willingness and intention to let this happen. This is the Hegelian dialectic in action. Debase the USD and all the major currencies. Chaos will ensue, international trade will grind to a halt and the world will be desperate for a solution. Then, introduce their prepared solution: a new One World Currency. For this world currency to succeed, they will need to back it by something. Gold is the obvious choice. If they don’t, it will be a failure. It will be no different from any fiat currencies. ABC New reports:
    
  IMF’s Strauss-Kahn suggests IMF may one day provide global reserve asset
  Dominique Strauss-Kahn, the head of the International Monetary Fund, suggested Friday the organization might one day be called on to provide countries with a global reserve currency that would serve as an alternative to the U.S. dollar.
   
  “That day has not yet come, but I think it is intellectually healthy to explore these kinds of ideas now,” he said in a speech on the future mandate of the 186-nation Washington-based lending organization.
   
  Strauss-Kahn said such an asset could be similar to but distinctly different from the IMF’s special drawing rights, or SDRs, the accounting unit that countries use to hold funds within the IMF. It is based on a basket of major currencies. He said having other alternatives to the dollar “would limit the extent to which the international monetary system as a whole depends on the policies and conditions of a single, albeit dominant, country.”
   
  Strauss-Kahn, a former finance minister of France, said that during the recent global financial crisis, the dollar “played its role as a safe haven” asset, and the current international monetary system demonstrated resilience.
    
  “The challenge ahead is to find ways to limit the tension arising from the high demand for precautionary reserves on the one hand and the narrow supply of reserves on the other,” he said. Several countries, including China and Russia, have called for an alternative to the dollar as a reserve currency and have suggested using the IMF’s internal accounting unit.

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