Does the collapse of the U.S. dollar begin to speed up November 1? If it does, it could trigger an event worse than the current economic recession we find ourselves dealing with right now.
The International Monetary Fund’s executive board is scheduled to meet to decide on whether to include the yuan, also known as the renminbi, alongside the U.S. dollar, euro, Japanese yen and British pound their ‘Special Drawing Rights.’ SDR is a less ominous way of saying ‘world money.’
If this happens, the Central Banks around the world will begin to off load some of their dollars to “spread the risk,” and in the end, without the dollar as the world currency, our dollar begins to become worth no more than the paper it is printed on. In fact, it’s possible that a yuan reserve currency will trigger a transfer of $1 trillion into Chinese assets in less than two years.
Much of the money pouring into the yuan will result in sales of U.S. Treasuries – how most governments hold dollars. When foreign governments start to dump the $6 trillion they hold, U.S. dollars will flood the market and trigger massive inflation.
Furthermore, the race to dump the U.S dollar has already started – even before we get a yuan reserve currency. The IMF’s plan to dethrone the U.S. dollar is in fact part of a larger scheme to put the IMF in charge of the world’s monetary system.
When it happens, another block in the “fundamental transformation of the United States,” will be complete.