Saturday, May 31, 2014
the IMF has started using SDRs instead of dollars.
In their own words:
The Federal Reserve has been expunged from IMF international lending. US(corporation) privately printed "Dollars" are no longer desired on the international marketplace, and this has been manifested in such a way as to manufacture a somewhat seamless transition into a brave new international, cosmopolitan, republican age: An age of awakening, and Age of Enlightenment.
SDRs (special drawing rights) are in effect currency ratio baskets - the respective currencies are balanced against each other to establish a ratio that both countries' representatives agree is in their collective best interests. This takes place between all currencies globally to establish currency ratios that benefit sovereign nations rather than privately owned central banks.
SDRs are issued by the IMF, which was once a front for the Euro-Western usurious banking cartel but is no longer. The Euro-western usurious banking cartel - the owners of the Federal Reserve, the privately owned 'central banks' of the US and Europe - have consolidated all their 'central banks' under the BIS, the Bank of International Settlements. The privately owned BIS (In Switzerland!) is the lender of last resort for the Federal Reserve and the privately owned central banks of Europe and the US.
The BIS has been printing fiat currency, and that fiat currency has collapsed. As they do. The BIS is thus irreparably in debt to China, who owns the largest number of Federal Reserve-printed US Treasuries outside of the Federal Reserve itself.
Thus, the BIS has recently been foreclosed on by China. One of the face-saving outcomes (so necessary in Chinese negotiations) of this awkward truth is that the IMF is no longer the front for the BIS but revamped to actually do its job and end poverty. This has taken place through the democratic mechanism of voting in and legalizing a new board of directors that represents the developing world and their interests. Consequently, IMF debtors were able to renegotiate their debt at a currency exchange rate far more equitable than the presently rigged market. Most of the debt is being written off through currency reset, which is taking place by issuing loans in SDRs.
The SDRs can be thought of as a republican currency reset. Sovereign money-printers (as opposed to private for-profit ones) are collectively and cooperatively establishing rates of international currency exchange that equitably distribute economic resources for the benefit of their respective populations, rather than rigging markets to exploit arbitrage opportunities. The establishment of these currency exchange rates is taking place within the democratic framework of the IMF, which underwent a surprisingly non eventful coup and now represents the broad spectrum of interests of the developing world.
The Federal Reserve had once cornered the market in printing and lending money, which meant that the Federal Reserve had cornered the market in everything money could buy. This was essentially why 5% of the world's population could consume 25% of the world's resources.
As the link above reveals, the Federal Reserve is no longer lending money to sovereign nations. The use of SDRs means that 5% of the population no longer receives 25% of the world's resources. The era of conspicuous consumption and American gluttony is over.
Of course, domestically we are still stuck with this worthless fiat paper indebting us to a heartless ruling class that isn't even American. But hey we can always ask the Treasury to print its own currency on hemp paper backed by hemp products. That would help the job market I bet, and hey it might even give us some exports with which to back our currency.
The use of SDRs rather than US dollars thus rings the bell of defeat for capitalism. Capitalism - or 'winner-take-all economics' - inevitably leads to an elite circle of winners hiding in a fortress while gouging a desperate world. The abandonment by the international lending community of the private, usurious fiat dollar sounds the fall of babylon.
Remember BRICS - Brazil, Russia, India, China, and South Africa? Russia and China both had Communist revolutions overthrowing the ruling class, India and Brazil are both former colonies seething with class struggle, and Nelson Mandela of South Africa spent a lifetime in jail for his anti-capitalist, pro communist ideological stand.
Communism and socialism are at best social nets that treat the most vulnerable members of society with the greatest resources of compassion. We have not yet seen either manifest in this world, although attempts which ended in fascism abound.
But now the privately owned, usurious, fiat currency has been overthrown, and a 'winner-take-all' capitalism has now been replaced with a 'winner-take-most' socially-oriented perspective. It is worth noting that if all the mainstream media reported on this event, there would be an investment rush away from the dollar, and its value would drop. Bread prices would skyrocket, etc. But economic crisis is certainly not in the best interest of BRICS, or the IMF's newly democratic assembly. Consequently, the BIS is able to save face, the Pope is given the chance to bring peace to the Middle East, the Bushes are granted opportunities of truth and reconciliation, and the dollar will not collapse. It will continue to devalue gradually, until popular mandate replaces it with a Constitutionally required, US Treasury printed replacement. Made out of hemp, backed by hemp.
Which will not bear interest, and will hold a prominent position in the SDR currency ratio basket.
Capitalism is winner take all. Ick.
Socialism is winner take most. hmm.
Communism is winner take same as loser. :/
Spirituality is winning by giving. What a concept.
Live to give, and give to live. Welcome to the new age.
The spiritual workers of the world have united, the dollar has died, and babylon is fallen. Marx is proud of us, and so is Peter Tosh.
And so is Jesus Christ. Thank you, Jesus.