I recently discussed the SDR and its potential significance, and this picture has been extensively reinforced and expanded on by James Corbett this weekend, on the day the Chinese Renminbi joins the SDR. The brief video on this page provides a very informative overview, and there are links to several articles by James giving more detail.
And I agree with James’ assessment; this is a cornerstone of NWO government and, like most of the key planks of this game, will go unnoticed by most of the public:
I’m not sure how to break this to you, but it appears the world is ending this weekend. Or at least that’s what you’d believe if you were reading certain corners of the internet.
As you may have already heard, the UN is “taking over the internet” this weekend. But as you’ve also heard if you follow The Corbett Report, that is a complete misrepresentation of what is really happening. Worse, hyperbole about a “UN takeover” of the internet obscures the real solution to ICANN and the centralized DNS system.
But there’s another “end-of-the-world” event taking place this weekend that you might not have picked up on: the SDR.
That’s right, the IMF is formally adding the Chinese renminbi (aka the yuan) to their “Special Drawing Rights” basket on Saturday, October 1st. The move boosts the yuan to the status of global reserve currency alongside its basket mates, the pound, the euro, the yen and the dollar. At 10.92% it will be the third highest-weighted currency in the basket, behind the euro at 30.93% and the dollar at 41.73%.
For those who missed my previous reporting on the SDR and the significance of the yuan’s inclusion, here’s the primer:
- The SDR is not a currency, but a potential claim on dollars, yen, euros, pounds, and now yuan.
- It is issued by the IMF and held (and traded) as a “supplementary reserve asset” by central banks.
- There are 204 billion SDRs outstanding, equivalent to $285 billion or about 2.5% of total global reserves.
The upshot of the SDR is that it provides liquidity for global transaction settlement in times when dollars and gold are in scarce supply. Inclusion of a currency in the SDR basket means that there is a built-in demand for that currency as central banks tend to match their currency holdings to the basket’s weighting, meaning that central bankers around the world are now (or have already) adjusted their aggregate holdings of yuan to about 10.92% of their portfolio. With $11.6 trillion of reserves globally, that equates to over $1 trillion worth of yuan being held in central bank coffers around the world.
More than that, the move is expected to boost investment in the yuan from both FX reserve managers and global portfolio managers. The FX inflows alone have been estimated at as much as $3 trillion in the coming years, with onshore bond buying accounting for a further $1 trillion of expected foreign investment.
Some outlets are hailing this as the largest transformation of the global monetary order since WWII.
End of quote.
In my opinion and the opinion of others with far more knowledge of these things than I have, this change is the death knell for the US dollar as the global reserve currency, and the impact for living standards in the US, which are already down to third world levels for many of its citizens, will fall dramatically. The global elite set up the US as their piggy bank to fund their global deconstruction plans, beginning in the 19th century with their moving European Jews to the United States using fear and incentives, (just as they are moving Middle Eastern young men of fighting age to Europe, currently, and moved Jews to Israel in the 50s and 60s using the Holohoax) followed by the setting up of the Fed in 1913 by German elite banker, Paul Warburg, who came to the US in the early 1900s for that purpose, and the ESF in 1934. Now it’s a gutted shell and they’ll cast it off, most likely accelerating that process through engineered racial warfare between blacks and whites. So, civil war and martial law in the US appear to be inevitable outcomes as the country falls apart.
Think I’m joking? I wish I were.
And the bankrolling of the Rothschilds’ play toy, Israel, will probably pass from the US to China in the coming years, or maybe to the IMF from fees levied globally through the SDR mechanisms that will emerge.
But remember this moment. It’s the Shemitah of the Jubilee year of 2016, a moment being used for several powerful, global resets to centralise the elite’s power and control.
Richard
Check out the extraordinary new, life-changing technology at www.magravsplasmaproducts.com
Recent Comments