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Things Here in The US Are About to Get Very Expensive Very Soon, Part 2

Permalink 07/14/21 10:50, by OGRE / (Jeff), Categories: Welcome, News, Background, In real life, On the web, History, Politics, G-20, U.S. Economy, Financial Reform Legislation, Elections

I wrote about this extensively on February, 2011. People forget things very quickly, also the Legacy American Media rarely reports on such things. I'll just call them the LAM (Legacy American Media) and then there's The Silence of The LAMs. That's right, I'm coining the phrase, you saw it here first... France was pushing for a global currency even back in 2011.

France, as current head of the Group of 20 countries, will help the transition to a global financial system based on 'several international currencies', French Economy Minister Christine Lagarde said today.

Lagarde, speaking ahead of a G20 finance ministers meeting in Paris on Friday and Saturday, said the world had to move on from the 'non-monetary system' it now has to one 'based on several international currencies'.

Accordingly, France wants to see less need for countries, especially the emerging economies, to accumulate huge foreign reserves, she said.

At the same time, international capital flows should be better regulated and the role of the Special Drawing Rights issued by the International Monetary Fund should be reinforced by the inclusion of China's yuan in the system.

China, whose booming economy now ranks second only to the US in size after overtaking Japan, has accumulated massive forex reserves of more than $2.5 trillion on the back of its sustained trade surpluses and foreign fund inflows.

The U.S. Dollar should no longer be the world's reserve currency, and these SDR (Special Drawing Rights) should become the new standard. They are, of course, backed by currencies from a number of countries, China in particular. Now the Biden administration is taking the same approach. The Biden administration is making moves that will weaken the U.S. Dollar on the world stage.

A controversial plan to boost global liquidity means the days of the U.S. dollar being the undisputed king of the international monetary system may be coming to a close, experts told The Epoch Times.

Losing that status could contribute to a serious crisis for the United States involving a dramatic loss of economic purchasing power, a geopolitical realignment and everything associated with those shocks.

The Biden administration-backed International Monetary Fund (IMF) proposal to issue an unprecedented $650 billion U.S. dollars’ worth of new “Special Drawing Rights” (SDRs) this year alone will also help re-shape the international financial system.

That is more than twice the total amount of SDRs created by the IMF throughout its entire history.

The SDR is a sort of proto-global currency, based on a basket of leading currencies, dubbed an “international reserve asset” by the IMF. Each government receives an amount of SDRs proportional to its stake in the international organization.

The unprecedented new issuance, which has the support of both Beijing and Washington, will contribute to sidelining the U.S. dollar’s role as the global reserve currency, analysts warned. The Chinese Communist Party is expected to be a leading beneficiary.

It gets even better. You will see here that The Great Reset is not a hoax, it's not something that was dreamed up. These "world leaders" have been openly talking about this for decades. Again, the Legacy American Media has never covered this with any specificity.

Those calls are growing amid the push for a “Great Reset.” The “reset” plan, which would transform everything from business to governance, is being promoted by the United Nations, the World Economic Forum, the IMF, the British monarchy and other power centers as a way to improve the world.

Ostensibly aimed at making the world more “green” and “sustainable,” the shift would require a much larger role for the public sector at the national and international level while moving the world away from what remains of the free-market system. Widespread proliferation of new technologies associated with the “Fourth Industrial Revolution” are a critical component of the effort, too.

A restructuring of the international monetary system led by the IMF on the way to the globalization of currency—with the looming SDR issuance as a major step—is likely to play a key role in the global reset as well.

Just as significantly, the developments taking place at the IMF will empower global organizations to channel ever-larger sums of wealth from people in the United States and other major economies into projects selected by those organizations and their member governments.

Powerful global interests, for instance, are pushing to use the new SDR “allocation,” as the issuing of new SDRs is called, to finance everything from mass international COVID vaccinations to policy transformations around the world.

The IMF wants to fund the world by basically pooling money from all over the world, and redistributing wealth. All of this, while simultaneously weakening the U.S. Not just on the world stage, but economically as well. There is nothing good about this plan, so far as the U.S. is concerned. This "Great Reset" is centralizing global power through the IMF, by marginalizing the U.S. Ask yourself, was Biden elected to do this? Did Biden voters really hate Trump so much that they wanted to bring down the country to get him out of office? I think not.

Right now, governments, central banks and businesses around the world keep large amounts of dollars on reserve to settle international transactions. This creates a constant global demand for the dollar.

However, if the dollar were to lose its status to the SDR, the demand for dollars around the world would plummet. The resulting collapse in purchasing power would create an enormous crisis as Americans’ ability to purchase goods and services from abroad was decimated.

The leftists in control of the U.S. government are running us off a cliff. They are doing this while Legacy American Media are ignoring it --on purpose. No American would want this. This is the equivalent of working your whole life to make things better for your children, then, at the last minute, throwing all of your savings away. Nobody would do this willingly, that's why these sorts of stories are not covered by the LAMs. I guarantee that if you asked any Biden voter about SDRs they would not the slightest idea what you were talking about.

It's because of people's blissful ignorance and sense of removed responsibility that we've ended up in this mess. People are too willing to believe that other people actually want to look out for their best interest. While sometimes that's the case, perhaps with people that you know personally, it's rarely the case with people you've never met. It's even more rare when the people you're trusting to protect you have antipathy towards you.

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I believe that for the United States of America to survive, we will have to get back to our roots.


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