Reform of monetary system … IMF should build multiple reserve currencies including SDR and supervise their issuance and cross-border capital flows … Today, the most urgent task for the G20 is reform of the international monetary system. With sharply fluctuating exchange rates, it is difficult to monitor international capital flows, identify financial risks in advance, and save the global system once a crisis happens. If the current international monetary system cannot be successfully reformed, a new great financial crisis will soon be upon us. So, the G20 should focus on its historical mission to urgently reform the international monetary system. – China Daily
Rigged Gold Market, A Secret Payoff To China … “Gold is a reserve currency, as far as the market is concerned,” Sprott Asset Management’s Eric Sprott told FinancialSense Newshour’s Jim Puplava in an Oct. 2011 interview. Sprott went on to say that central banks and the shrewd money know the endgame for the dollar will include gold as the backbone of a new global monetary system—a system that presently finds China sorely lagging in gold reserves when compared with the core EU nations and the U.S … – ETF Daily News
The world’s new monetary system is being constructed as we write. You can spot the evidence in various articles, both mainstream and alternative. This article will profile two such stories.
First, there is an ETF Daily News article entitled, “Rigged Gold Market, A Secret Payoff To China.”
It complements a most important article from China Daily entitled, “Reform of the Monetary System.”
Together these two recent articles may provide us with significant insights into what is REALLY going on.
A globalist currency may be run by the International Monetary Fund and could be built out of the current Special Drawing Rights (SDR) “super currency” that the IMF has been attempting to implement around the world.
The China Daily article provides us with astonishing confirmation of what may be the IMF’s role. China Daily is widely seen as a private mouthpiece of Chinese government policy.
Reading between the lines, the two articles provide further evidence that China’s top leaders – actually those secretly behind the public’s leaders – are on board with the global money plans.
When one looks at China today, one sees a kind of Western parallel – but one that is even more extreme. The Chinese economic model is based on corrosive and inflationary central banking that has no doubt allowed elite interests to corral huge amounts of Chinese economic and industrial resources.
China is probably near the end of this particular cycle of monetary activity, with hundreds of empty skyscrapers and dozens of empty cities dotting the landscape. The ChiComs no doubt expect an implosion.
No, there will likely be no “soft landing.” This is providing the ChiComs with a further incentive to cooperate with Western elites to create a new monetary system built out of the old, collapsing one.
The China Daily article “Reform the Monetary System” provides us with an astonishingly detailed plan for how the new world currency is to come about.
|How Does Gold Fare During Hyperinflationary Periods?Much is made of what can happen to a fiat currency during hyperinflation, but the real question to ponder is how do the precious metals handle such conditions.|
Here are some of the points:
•The IMF should build multiple reserve currencies including SDR and supervise their issuance and cross-border capital flows.
•The G20 should set up a permanent secretariat within the International Monetary Fund to improve its policymaking and implementation capabilities.
•A diversified international monetary system should consist of multiple currencies, such as the Special Drawing Rights, the US Dollar, the Euro and the Renminbi.
• A good way to start the reforms would be to encourage the use of Special Drawing Rights for a broader range of activities and to start reducing the weight of the US Dollar in the reserve currency system.
The article explains that, “such reforms would mean granting the IMF the ability to conduct open market operations as the world’s central bank.”