This is the first step toward one world currency – What China’s SDR Bond Issue Really Means

Tuesday, August 16, 2016
By Paul Martin

TheDailyCoin.org
August 16, 2016

It seems this whole situation is moving much faster than anyone could have predicted. With this new SDR being planned since the 1970’s it seems they have been working on this for quiet some time. There was another important development in the 1970’s, August 1971 to be precise – President Nixon closed the gold window. Seems there was a little more to that step being taken than meets the eye.

From my perspective the SDR is an illusion of an illusion. Special Drawing Rights (SDR) is a “unit of account” that allows nations to trade amongst themselves. The SDR unit of account is weighted, currently, against four fiat currencies, the US dollar, the euro, Japanese yen and British pound. These fiat currencies that make up the basket of SDR currencies are backed by the respective nations taxes and bond issuances. The taxes are collected, on a go-forward basis, so in essence the value of the currency is based on future labor of each nation. In the real world, where you and I live, this is known as a ponzi scheme – we would be jailed for offering this type of “investment”. The SDR is backed by these currencies which adds another layer to the ponzi scheme. The ponzi has now grown from an individual nation to the global stage. I will be more than happy to redact the above if my analysis is incorrect. From where I sit, that’s what I see.

As we reported, the day it happened, the new M-SDR is official and will be moving into the hands of the Chinese banks over the next several weeks. China has been pushing the IMF and World Bank since 2009 to consider a serious change to the current world reserve currency system. The current governor of the Peoples Bank of China (PBOC), Zhou Xiaochuan, has spearheaded this call to change and it appears China is not going to be satisfied with just the M-SDR Bond; they want the whole system to change, now.

The Rest…HERE

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