Great article, I recommend reading it. This unedited version was passed on to me by the author. The edited version can be purchased here nexusmagazine.com.au . Enjoy. KS
The ABC news website announced on December 9, 2013 that China was calling for a new global currency.
According to business Writer Joe Macdonald, “China is calling for a global currency to replace the dominant dollar, showing a growing assertiveness on revamping the world economy ahead of next week’s London summit on the financial crisis.
The surprise proposal by Beijing’s central bank governor reflects unease about its vast holdings of US government bonds and adds to Chinese pressure to overhaul a global financial system dominated by the dollar and Western governments. Both the United States and European Union brushed off the idea.
The world economic crisis shows the ‘inherent vulnerabilities and systemic risks in the existing international monetary system,’ Gov Zhou Xiaochuan said in an essay released Monday by the bank. He recommended creating a currency made up of a basket of global currencies and controlled by the IMF and said it would help ‘to achieve the objective of safeguarding global economic and financial stability.’”
TWILIGHT OF THE USD AS THE WORLD’S RESERVE CURRENCY
During the last years of World War 11, the post-war economic structures of the IMF and the International Bank for Reconstruction and Development (IBRD) which today is part of the World Bank Group, were created at the Bretton Woods Conference in New Hampshire.
Signatories were obliged to adopt a monetary policy of pegging their currencies to the U.S. dollar, while the U.S. government guaranteed other central banks that they could sell their U.S. dollar reserves at a fixed rate for gold. When Nixon abandoned the Bretton Woods Agreement in 1971 by terminating the convertibility of the $U.S. to gold, the dollar became a reserve currency used by many countries. Issuing the reserve currency has given the U.S.A. many unique privileges, such as the ability to purchase imports in its own currency and borrow across borders more cheaply.
The petrodollar is a United States dollar earned by a country through the sale of its petroleum to another country. The term arose in the 1970s when Kissinger cut a deal with the Saudis to buy their oil, provide military protection and allow them to become obscenely wealthy if they allowed their oil to be sold exclusively in U.S. dollars. The Saudis also promised to purchase US Treasuries. The petrodollar generally refers to money received by Middle Eastern and other OPEC countries and is a primary source of income for these countries.
There have been numerous calls since the Global Economic Crisis to abandon the $U.S. as the single major reserve currency from countries such as Russia and China, and bring in a new reserve currency or currencies. This proposed change is also likely to be concomitant with the Global Currency Reset, whereby all currencies are to be revalued or devalued depending on the assets of the country and strength of the economy.
The inevitability of the Global Currency Reset (GCR) has also been embraced by groups like NESARA and OPPT, as well as channelers of alleged extraterrestrial intelligences like SaLuSa and ascended masters such as St. Germain. These groups and channels believe it will end the current corrupt system and usher in an era of unprecedented prosperity for all humanity.
On the other hand, Chaplain Lindsey Williams, who passes on information from his elite contacts in the oil industry, has recently proclaimed that the imminent GCR will enslave humanity and strip the middle classes of all their wealth.
The aim of this essay is to present the quotes of the various, and often conflicting sources, in order to construct a cohesive portrait of what may be the biggest change to our financial system in the modern era; either the dawn of a more equitable monetary system or the implementation of the dreaded New World Order.
DEFINITIONS OF THE GLOBAL RESET
George Soros: “I think you need a new world order that China has to be part of the process of creating it and they have to buy in, they have to own it in the same way as the United States…owns the current order..You need a new currency system and actually the Special Drawing Rights do give you the makings of a system and I think it’s ill-considered on the part of the United States to resist the wider use of Special Drawing rights…you could actually intentionally create currency through Special Drawing Rights.”
Ben Bernanke: “it would be desirable for the global community, over time, to devise an international monetary system that more consistently aligns the interests of individual countries with the interests of the global economy as a whole. In particular, such a system would provide more effective checks on the tendency for countries to run large and persistent external imbalances, whether surpluses or deficits. Changes to accomplish these goals will take considerable time, effort, and coordination to implement.
Jim Willie: “A reset is apparently near. The pressures to install a more fair, more just, and more enduring system is enormous, and will not cease. The demand is to bring back the Gold Standard, the equitable arbiter, the true enforcer. Something big is near, as the tremors are being felt in every global corner, and every global market.”
Lindsey Williams: “The greatest event in the financial world in the past 1,000 years is about to take place. Two hundred and four nations have agreed with the IMF (International Monetary Fund) to reset their currency. Christine Lagarde is the new financial head of the IMF. If she and the Elite have their way, this event will take place within the next ninety days (three months)” http://www.lindseywilliams.net/#sthash.nex6EmlA.dpuf
Bix Weir: “We’re at a point in our system and in the manipulation where people within the Fed and within our government are ready to pull the plug on the game and basically crash the system… You’re looking at a complete wipeout of all debt in all banks, all virtual assets, virtual assets meaning electronic blips on a 401k statement and checking and savings accounts.” http://www.silverdoctors.com/complete-wipeout-of-all-debt-coming-bix-weir/
Robert Mundell: “There could be a kind of Bretton Woods type of gold standard where the price of gold was fixed for central banks and they could use gold as an asset to trade central banks. The great advantage of that was that gold is nobody’s liability and it can’t be printed. So it has a strength and confidence that people trust. So If you had not just the U.S. dollar but the U.S. dollar and the euro tied together to each other and to gold, gold might be the intermediary and then with the other important currencies like the yen and Chinese Yuan and British pound all tied together as a kind of new SDR that could be one way the world could move forward on a better monetary system.”
General points of agreement are:
• The USD will lose its reserve status and the petrodollar will die.
• There is likely to be some form of economic collapse which precedes the reset, involving bank failures and bail-ins, stock market collapse and pension confiscation.
• The reset will involve a global revaluation of currencies (RV.)
• The new economic system will be either gold based or digitally based like Bitcoin.
• The IMF will be at the centre of the reset.
• A basket of currencies may replace the USD as reserve currency.
• China, backed by large amounts of gold, may be the centre of the new world currency.
Supporters of the GCR like NESARA also claim:
• Some presently undervalued currencies, like the Iraqi dinar and Vietnamese dong, will appreciate dramatically.
• There is a lot of gold not on the books which will be used to eradicate world poverty by funding ‘prosperity funds.’
• Every human will be given a sum of money from these funds.
• All debts will be cancelled in a worldwide jubilee.
The following paragraphs will discuss the two differing views of the GCR and which one is the more likely scenario
POST RESET ABUNDANCE SCENARIO
Various ‘whistleblowers’, psychic channels, patriots and groups believe that the reset will result in almost infinite abundance for humanity when the world’s hidden gold is used to eradicate poverty and debt is abolished.
Global collateral accounts The history behind the Global Collateral Accounts is complex and revolves around gold allegedly stolen by the Japanese from Chinese aristocratic families under Operation Golden Lily, and subsequently seized by the western banking cartel who are refusing to relinquish it to its rightful owners. With the promise of unlimited wealth from vast amounts of gold allegedly hidden in the Philippines and Indonesia, various parties and individuals are diligently working towards securing the GAC ‘to end world poverty.’
After the Second World War, the stolen gold was discovered by the allies in Indonesia, Thailand and the Philippines and incorporated into a system which was initially meant to be used for humanitarian purposes, under the control of President Soekarno of Indonesia. However, these funds were seized by the central banking families who set up the Bank of International Settlements (BIS,) International Monetary Fund (IMF,) the Council on Foreign Relations (CFR) and the United Nations who used them for their own purposes.
The central bankers implemented a system that allows the Federal Reserve to block anyone except banking elite insiders from using the Accounts, blocking the actual owners, a group of Chinese aristocrats known as the White Dragon Family, from utilizing the assets for humanitarian projects.
In 2009 the Dragon Family engaged Neil Keenan “because of his reputation as a well-connected, tough-minded international businessman” to help them utilize these accounts for the benefit of mankind. Vatican insider Daniele dal Bosco allegedly stole $144.5 billion in Federal Reserve notes and bonds which had been entrusted to Keenan by the Dragon family, forcing Keenan to file a trillion-dollar lawsuit against prominent bankers and politicians, as well as institutions such as the UN, World Economic Forum, World Bank, Italian Government, Italian Financial Police, Silvio Belusconi et al.
Eventually Keenan withdrew this lawsuit and re-filed in a more effective jurisdiction, as well as filing a Cease and Desist order on January 5, 2012 “against a Who’s Who of the cabal structure, putting them on notice that they were defrauding the Global Accounts and would be prosecuted for any further fraud. This Cease and Desist names George H.W. Bush, George W. Bush, Queen Elizabeth 11, the United Nations, Ban Ki Moon, David Rockefeller, Hillary Clinton, and a host of other world figures and organizations who are in the inner circle of the cabal.”
In this C & D notice, Keenan revealed that the heir to the Soekarno Trust, Dr. Seno Edy Soekanto (Soekarno’s son) “According to the attached Agreement transferred all his rights and entitlements arising from the Family Heritance Guarantee- and organized under the ‘Soekarno Trust’ to Mr. Keith Francis Scott, together with Mr. Neil Francis Keenan together with a third individual, who requests to remain anonymous..”
Benjamin Fulford, former Forbes Magazine financial editor for Asia became involved and travelled to Italy to conduct initial investigations. He now claims to be in an alliance with a shadowy group known as the ‘Gnostic Illuminati’ who are, allegedly, trying to oust the old banking cabal and institute the Dragon Family’s stolen gold to alleviate world poverty.
Fulford has written, “With a brand new financial system built from scratch, it would be possible to end world poverty and stop environmental destruction within a month. The reason is simple, we have been blinded from reality by a hypnotic pyramid scheme known as the world financial system…One approach would be to stop the digital printing presses and give people in bankrupt America/England and Israel etc. enough cash for a month or so to tide them over until the new system was built. We would then need to do an inventory of the planet earth. It would assign value to everything on the planet, forests, oceans, people etc. Any money in the old system that could be connected to real things like land and factories, would remain in the hands of its previous owners. Any money that was made from “nothing” would be reassigned to the forests, oceans and poor peoples of the world.”
Keenan, who claims to be in possession of key documents such as a secret ‘black book’ ledger of the Accounts, is currently in Indonesia, trying to finalize agreements with the Indonesian elders and representatives of the Dragon Family.
Journalist David Wilcock also has covered this story in his in depth article ‘The End to Financial Tyranny’ on his website Divine Cosmos.
Meanwhile, other groups and individuals who are often in conflict with each other, also claim to be working to release the Global Collateral Accounts for the good of humanity. Karen Hudes, former senior counsel for the World Bank, claims in various video interviews that Wolfgang Struck is the signatory for these accounts, and that the ‘rule of law’ will prevail, enabling the stockpiled gold to be released to the world.
David Crayford, on the other hand, claims to be part of a group called OITC (Office of International Treasury Control) and working with Dr. Ray Dam who, he claims is the legal heir and owner of the Collateral Accounts. Crayford, formerly known as ‘Whistleblower,’ disputes the claims of both Hudes and Keenan. http://www.rumormillnews.com/cgi-bin/forum.cgi?noframes;read=298786
According to a Wikipedia entry on the OITC, it is a “seemingly elaborate fraudulent organization which claims to be associated with the United Nations and Federal Reserve.”
NESARA The National Economic Security and Recovery Act was a set of proposed economic reforms suggested by Harvey Francis Barnard in the 1990s. Although these reforms were never introduced before Congress, a student of the Ramtha School of Enlightenment, Shaini Candace Goodwin, claimed that the act was passed by Clinton in 2000 as the National Economic Security and Reformation Act, but suppressed by the G.W. Bush administration and the Supreme Court.
According to the website Nesara now!( http://nesaranow.4t.com/,) this law has the ability to:
1. Abolish the IRS and income taxes
2. Establish the U.S. Treasury Bank System with a currency backed by precious metals.
3. Restore Constitutional Law
4. Abolish credit card, mortgage and other citizen accrued debts
5. Remove current government officials and new elections (as at 2000)
Central to Nesara Now and Goodwin’s claims is the alleged existence of ‘prosperity funds’, the evidence of which was destroyed in the World Trade Centre on September 11, 2001. These Trust funds originated with St. Germain and three other ascended masters in the fifteenth century and later “encouraged Divine Intervention with the Galactic Federation of Light.” Current channelers such as Sheldon Nilde, Poof (The Office of Poofness) and SaLuSa continually claim that the extraterrestrial and extradimensional beings have been working behind the scenes for the imminent release of these prosperity funds and the eradication of the evil banking cabal.
From 2011 new Nesara/‘Resistance’ operatives ‘Cobra’ and Drake started doing radio shows and writing blogs about the imminent demise of the cabal. Drake has billed himself as a person the Pentagon has asked to make announcements on their behalf and continually claims that there will be mass arrests of cabal members in the immediate future.
Cobra appears to have deep ties with national and international intelligence operatives, as well as extraterrestrial contacts. He is interviewed in a monthly update on the Rumor Mill Agents Forum and on December 3, 2013 said, amongst other things, “I would say the infrastructure for the reset is ready, but the conditions for the reset are not….The plan that will be approved, that has been approved, speaks about a certain basket of currencies that will clear the new planetary system and existing currencies will still be operational for some time. Because it needs to be a gradual transition. So what will be taken out of the system first will be this, inequality and untransperancy.”
Despite apparent connections with military and economic insiders, none of these channels to date has been accurate in forecasting a date for the GCR.
ECONOMIC COLLAPSE SCENARIO
When defining economic collapse, most people think immediately of the stock market crash of 1929 and subsequent bank closures which instigated the Great Depression. Others will see the end of the petrodollar as the fuse which will ignite a global depression. Discussion of the looming collapse is beyond the scope of this paper, but it is likely to be devastating to many people and involve confiscation of assets by bank bail-ins, pension ‘reform’, special levies enacted with the blessing of the IMF, national wealth taxes, increases in consumption, property and estate taxes, devaluation of the local currency, cyber attacks on the financial system and capital controls which limit the amount of money which can be withdrawn from accounts.
There are various triggers which will precipitate such a global collapse, such as the interest derivatives market, bond implosion, various bank failures, a massive cyber attack, implosion of the euro or yen, sovereign debt default. The Dodd-Frank Act of 2010 ostensibly aimed to strengthen the banks by making them hold more capital reserves, but the end result will be banks relying on depositor and bond holder bail-ins rather than expecting bail-outs from governments.
Definitions of Global Collapse
Peter Schiff: “I think we are heading for a worse economic crisis than we had in 2007. “You’re going to have a collapse in the dollar…a huge spike in interest rates… and our whole economy, which is built on the foundation of cheap money, is going to topple when you pull the rug out from under it.”
Hugo Salinas Price: “I think we are going to see a series of bankruptcies. I think the rise in interest rates is the fatal sign which is going to ignite a derivatives crisis. This is going to bring down the derivatives system (and the financial system).
There are (over) one quadrillion dollars of derivatives and most of them are related to interest rates. The spiking of interest rates in the United States may set that off. What is going to happen in the world is eventually we are going to come to a moment where there is going to be massive bankruptcies around the globe.
What is going to be left after the dust settles is gold, and some people are going to have it and some people are not. Then the problem is going to be to hold on to what you’ve got because it’s not going to be a very pleasant world.”
David Stockman: “At some point the financial markets will realize that this is just one massive central bank-driven bubble, that it cannot be sustained much longer, and panic will set in. It’s happened every time in recorded history. Who knows what the trigger or catalyst will be — from what direction the black swan will arrive? But it will.
The whole thing is a house of cards. There is so much leveraged speculation built into all of the financial markets of the world that when the selling starts, look out below. There won’t be any bids and the central banks won’t have the ability to forestall the collapse. It’s a very dangerous situation and it’s one that is completely uncharted in terms of any historic precedent or benchmark.”
Mike Maloney: “I think the crash of 2008 was just a speed bump on the way to the main event… the consequences are gonna be horrific… the rest of the decade will bring us the greatest financial calamity in history.”
THE IMF’S NEW CURRENCY- SDR, BANCOR or GOLD TRADE NOTE?
In 2010 the IMF published a document ‘Reserve Accumulation and International Monetary Stability’ which called for a new global currency. Initially this paper discussed the merits of “a multi-polar system with several currencies operating as broad substitutes, perhaps alongside a broader set of secondary reserve currencies, eg a dominant dollar zone, euro zone, or a formal or informal Asian currency zone.” (p18) However, such a model was subjected to too much volatility so the next consideration was using Special Drawing Rights (SDR) as a reserve currency.
“The SDR is an international reserve asset, created by the IMF in 1969 to supplement official reserves of member countries…The value of the SDR is based on a basket of four key international currencies (U.S. dollar, euro, yen and pound). But it is not itself a currency, and its use in foreign exchange interventions and most payments requires conversion to one of the freely usable currencies of IMF members. A system centered on the SDR would maintain the SDR’s essential character as a reserve asset and unit of account without an actual currency role, while a broad market in SDR-denominated instruments in both public and private sectors would be developed.” p20
Although the SDR had an advantage over the mutli-polar system, it had enough disadvantages to preclude it as a reserve currency. “A limitation of the SDR as discussed previously is that it is not a currency. Both the SDR and SDR-denominated instruments need to be converted eventually to a national currency for most payments in foreign exchange markets, which adds to cumbersome use in transactions…A more ambitious reform option would be to build on the previous ideas and develop, over time, a global currency. Called, for example, bancor in honor of Keynes, such a currency could be used as a medium of exchange- an ‘outside money’ in contrast to the SDR which remains ‘inside money.”
Bancor is the preferred model with these advantages, according to the IMF paper.
• It would be “adopted by fiat as a common currency, an approach that would result immediately in widespread use and eliminate exchange rate volatility among adopters.”
• “A global currency, bancor, issued by a global central bank, would be designed as a stable store of value that is not tied exclusively to the conditions of any particular economy.”
• “Bancor could provide greater monetary stability, especially since key central banks retain monetary control under an SDR-based system and their respective economies and currencies would be expected to face episodic stresses and volatility (such as higher inflation or deflation.”
• “The global central bank could serve as a lender of last resort, providing needed systemic liquidity in the event of adverse shocks and more automatically than at present.”
According to financial analyst and statistician Dr. Jim Willie, 2014 will see a currency reset and the implementation of a gold backed trade note. “The biggest shockwaves will come from the currency reset followed by the introduction of the Gold Trade Settlement. The return of the Gold Standard is near, but it will arrive on the trade vehicles, not the FOREX currency or SWIFT bank platforms. It will feature the Gold Trade Note, used as a letter of credit.” http://www.silverdoctors.com/jim-willie-return-of-gold-standard/#more-36658
REVALUATION For years the NESARA advocates have been promising that a dramatic revaluation of currencies like the Iraqi dinar and Vietnamese dong could turn investors into instant millionaires.
On July 16 ‘Freedom News’ enthused in their blog ‘Global Financial Reset’: “One of the greatest indicators for the GCR has been the many machinations underway within the country of Iraq over the past three weeks. Since their emergence from Chapter 7 by the UN Security Council on June 27th, the fledgling economic power of Iraq has been moving at lightning speed to fulfil all the requirements to become a major global player…With the rebirth of their nation comes one very vital and most important step- the revaluation of the Iraqi currency known as the dinar. When the dinar finally reaches the stage of revaluation which could be at any time now, the end result will be one of the world’s most stable and strongest currencies. The dinar will be backed by some of the planet’s richest array of assets to be found anywhere- from oil to gold, from silver to diamonds and all the other vast amount of natural resources buried within Iraq’s ancient lands. In a word, Iraq is loaded.”
“Now as many as 198 global currencies are undergoing a revaluation of some sort or another- although several will be somewhat devalued in order to level the world economic playing field. (emphasis added) Nevertheless, most of the world’s utterly worthless currencies like the dinar will find their values sky-rocketing.”
The author Scott Mowry spins a positive picture of a post reset world, with prosperity programs being released to the world, the restoration of the American Republic, the Federal Reserve will amalgamate with the US Treasury.
As of early March, the promised revaluation of the Iraqi dinar has yet to materialise and those who have invested in this currency have yet to receive a return.
Pastor Lindsey Williams, on the other hand, has been given information by his ‘elite friend’ who portrays a far more alarming picture of the post reset world, with the U.S dollar devalued by 30% and all currencies re or devalued so that they are kept within 5% of each other. Their value will be based upon their resources (oil, gold, precious metals, crops etc) and those countries with the greatest debt will see the greatest devaluation. ‘The level playing field’ is meant to reduce all prosperous countries to the level of third world countries, thus stripping countries like America and Europe of their wealth. Instead of raising the standard of living in the 3rd world, this reset will actually be the greatest transfer of wealth to the elite in the history of the planet and is scheduled by the IMF to take place by March 2014. (See lindseywilliams.net for links to various radio interviews and his DVD ‘The Global Currency Reset,’ released December 2013.)
CHINA’S GOLD BACKED YUAN
Over the past two years China has signed swap agreements allowing trade in local currencies in many parts of the world, totally bypassing the reserve US dollar. Very recently the yuan’s use for credit payments has just passed the euro and is now in second place in the world. The countries using the yuan for trade finance in October 2013 with China were Russia, Japan, Brazil, Singapore, the United Arab Emirates, Germany and Australia. Other countries also used the yuan for exchange such as Iran/Russia and India/Japan.
According to Reuters, “The world’s second-largest economy is accelerating the pace of financial reform to promote its currency to international players beyond Hong Kong. China aims to lift the yuan’s global clout and reduce its reliance on the U.S. dollar.”
On Nov 21 Reuters reported of China’s first move to end the petrodollar. “The Shanghai Futures Exchange (SHFE) may price its crude oil futures contract in yuan and use medium sour crude as its benchmark, its chairman said on Thursday, adding that the bourse is speeding up preparatory work to secure regulatory approvals.”
The same day it was announced by the People’s Bank of China deputy governor Yi Gang:
“It’s no longer in China’s favour to accumulate foreign-exchange reserves,” a direct indication that China will no longer be purchasing US Treasuries and bonds. China is now the largest foreign creditor to the U.S. and by September had been holding $1,294 trillion in Treasuries.
In recent years China has also been feverishly buying physical gold while the western central banks appear to be selling theirs. Whether or not they are trying to back the renminbi with gold remains open to speculation, but this accumulation does add credence to the possibility that the gold backed yuan may eventually become a new reserve currency.
According to Willie, “The latest important riddles pertain to the Global Currency Reset and the Chinese Encroachment on Wall Street. A devaluation of the entire set of major fiat currencies is near, which implicitly will occur versus Gold. In other words, the Price of Gold will double soon. At the same time, a USDollar devaluation is being demanded by major global forces. It can only be accomplished by the creation of a new Republic Dollar, not bound by the cited 5% band. It will suffer a series of devaluations like the Venezuelan Bolivar.” http://socioecohistory.wordpress.com/2013/12/27/dr-jim-willie-global-currency-reset-devaluation-of-fiat-currencies-vs-gold/
James Rickards, author of the best-selling book ‘Currency Wars’ has described in an interview for the ‘Epoch Times’ how China is using gold and the IMF to remove the dollar as the reserve currency. However, he claims that the yuan cannot be a global reserve currency because China does not have a “deep liquid pool of investable assets or no Chinese government bond market to speak of.” Rather than a reserve currency, the yuan is expanding in use as a trade currency.
Rickards believes that the Chinese are planning to lend money to the IMF to acquire the SDR (which is issued by the IMF) in order to lobby for more votes in the IMF. “If it has more vote, it would be comfortable using the SDR as a reserve currency, because its use would be regulated by the membership and that would make China the second largest member after the United States….If you said to me, does China want to get rid of the dollar as the global reserve currency, the answer is yes. But most people think it’s that they want the yuan. They don’t. It’s the SDR.” http://www.theepochtimes.com/n3/514449-james-rickards-china-planning-to-displace-dollar/3/?photo=3
On September 5, 2013, RT announced that the BRICS nations have decided to fund their development bank with $100 billion, with China providing the lion’s share of $41 billion. While one of its stated aims is to help finance infrastructure and development projects in BRICS countries, the bank will also create an entity which will bypass the IMF, SWIFT system and Bank for International Settlements (BIS).
The bank is proposed to be up and running by 2015.
NEW CURRENCIES, CRYPTO CURRENCIES
• At the end of December 2013 Kuwait, Qatar, Bahrain and Saudi Arabia launched a new common currency which will initially be pegged to the USD.
• The BRICS countries Brazil, Russia, India, China and South Africa signed agreements in 2012 to trade in their own currencies.
• The world’s first crypto-currency Bitcoin has shown great volatility in 2013, with staggering gains followed by huge losses. The growth of Bitcoin can be attributed to a distrust of fiat currencies, especially the dollar, and a desire to bypass the manipulations of the central banks. On December 19 Bitcoin prices plunged against the yuan and dollar after China’s largest online market stopped accepting Bitcoin deposits and authorities in Scandinavia threatened to impose regulations. In late February 2014 the largest bitcoin exchange, Mt. Gox, filed for bankruptcy protection, claiming it had lost $500 million to hackers.
TYING IT ALL TOGETHER
IMF documents from 2010 indicate that a new global currency has been planned and it will probably be called bancor. Other sources such as Jim Willie believe that a return to the gold standard via gold trade notes is imminent, while Lindsey Williams and ‘Cobra’ are proclaiming that a basket of currencies will become the reserve currencies of the world.
The NESARA/OPPT advocates promise that the reset will bring about debt forgiveness and the release of ‘prosperity funds’ to end world poverty. However, they are putting their trust in current structures like the IMF and individuals who have shown no propensity to alleviate world poverty in the past. Nor has the White Dragon Family embraced by Keenan and Fulford used their alleged gold to end poverty in China, let alone the rest of the world. Their promises of mass arrests of evil cabal members have failed to materialise, while the world lurches towards financial Armageddon, government confiscation of deposits and pensions under the tyranny of a one world government, currency and bank.
The Global Reset is likely to be horrific for Americans and Europeans who will be forced to devaluate their currencies in order for them to compete with third world countries on a ‘level playing field.’ BRICS countries like China and Russia who have imported many tonnes of gold, are likely to be the winners in the new world order, as power and money flows east. Those in the know in the IMF and other global organisations, will be able to trade their currencies in for the new global reserve currency, whatever it may be, in advance, earning them a fortune. The average person, on the other hand, will wake up one morning to find that prices have doubled or quadrupled, while their bank balances may be halved and capital controls have been enacted forbidding withdrawals and transfers of cash to other countries.
When will the GCR take place? The implementation could be announced within days, weeks or months, but these comments from World Economic Forum Davos January 2014 attendees hint that it is very much on the agenda.
Christina Lagarde: “We need a reset in the way the economy grows around the world.” http://forumblog.org/2014/01/top-10-quotes-day/
Klaus Schwab: “We need to push the reset button. The world is still much too much caught in a crisis-management mode. We should look at our future in a much more constructive and strategic way. That is what Davos is about.”
Perhaps the last comments should go to Max Keiser, outspoken critic of the current economic system. “What will happen is there’s going to be a currency revaluation across the globe. The dollar will probably be cut in half versus its other major trading currencies. Gold in particular will have to be, as it was in the 30’s, valued upward. So gold and precious metals and any currency that beings in a basket of commodities or precious metals as the basis of that currency will, in concert, you’re going to see a revaluation of gold bullion I believe… and you can see the price of gold move up 50, 60% in one day or one week, or it could move 100% in a week. This means that all currencies are going to be revalued against gold and the currency that stands to lose the most would be the US dollar.
And people will wake up in America, as it has happened in other countries, like Iceland recently, or other bail out countries from the IMF, or in Russia, or in the UK in the 70’s and suddenly they wake up and it’s like our currency was devalued by 50%, we’re now being bailed out by the IMF and the world bank, everything at the store costs double or triple or quadruple, and there’s nothing they can do about it because it’s not like these things happening without a careful coordinated plan by the banking establishments around the world that’s setting this all up to go when it needs to go. It’s going to be relatively effortless on their part.”
Great article, I recommend reading it. This unedited version was passed on to me by the author. The edited version can be purchased here nexusmagazine.com.au . Enjoy. KS