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Willem Middelkoop: IMF’s ‘Substitution Fund’ to Kick-Start SDR as New Global Currency?

  • Willem Middelkoop: IMF’s ‘Substitution Fund’ to Kick-Start SDR as New Global Currency?
    by http://lonestarwhitehouse.blogspot.com/  
    Willem Middelkoop (OMFIF Advisory Board) has published a new article intended as a current update to his book The Big Reset . This is an excellent and well documented piece that traces the history of various proposals to broaden the use of the SDR and also studies that have looked at anchoring the SDR to gold in some way in the past. 

    Below are a couple of brief excerpts from the paper and then a few added comments.
    ——————————————————————————————-

    The Big Reset (2013) fully explains the need for a major reform of the world’s financial system. At that time of publication, most people still had no clue what form the unfolding financial endgame would take. A few years further on, and as interest rates have reached a level not seen in 500 years, many are now starting to agree major monetary changes are needed urgently.

    Two major problems need to be addressed. First we will need to find a new anchor for the world’s monetary system, and secondly, worldwide debt restructurings, comparable to debt jubilees in ancient times, have to be arranged. Debt jubilees are still a step too far in the current global mental state, hence full focus is on the structuring of a new anchor.

    “Since the outbreak of the financial crisis, the Chinese have pressured the U.S. to change the current dollar-based monetary system. The Chinese, ever more in the driving seat of global finance, have made it very clear that the Special Drawing Rights (SDR or IMF-money) of the IMF is the preferred future international world reserve currency.”
    . . . . .
    “So there you go, to 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’. (1)

    Professor Robert Mundell, a special advisor to the Chinese government, is also in favor of bringing gold back to the monetary system: (9)

    read more.

James_Rickards-RIP_Petrodollar_March1975-4Sept2016

http://www.newdawnmagazine.com/Article/A_Global_Central_Bank_Global_Currency_World_Government.html

Click on image for article.

https://socioecohistory.wordpress.com/2013/04/18/the-tower-of-basel-secretive-plans-for-the-issuing-of-a-global-currency-2/

Click on image for article.

http://thenewamerican.com/economy/economics/item/14579-killing-the-dollar-g20-imf-push-for-global-fed-global-currency

Click on image for article.

http://www.thenewamerican.com/economy/economics/item/20833-imf-the-new-global-fed

Click on image for article.

Ron_Paul_Merger_of_ECB_FedRes_BOJ_WorldCentralBank

  • “They are planning through the IMF to come up with a World Currency to replace the dollar because the dollar will be replaced you just can’t keep printing them forever …. They wanna come up with another currency controlled and ruled by the United Nations and IMF ! “ – Quote: Ron Paul, 12 Jan 2012 at South Carolina.
  • “Are we going to go another step further into INTERNATIONAL MONEY … are we gonna go toward a U.N./IMF STANDARD where they are going to control with the USE OF FORCE another fiat standard. That’s what many people are working for and I CONSIDER THAT A VERY DANGEROUS MOVE!” – Ron Paul
http://www.thenewamerican.com/economy/economics/item/4489-imf-report-promotes-world-currency

Click on image for article!

http://americanfreepress.net/?p=1263

Click on image to goto article!

end

August 18, 2016 - Posted by | Economics, GeoPolitics | , , , , , , , , ,

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