What is in the ascendency is a global currency referred to as Special Drawing Rights (SDRs)

"By the authority invested in me, I Christine Lagarde now officially declare the Chinese Reminbi is a hip currency."

“By the authority invested in me at the IMF, I Christine Lagarde, now officially declare the Chinese Renminbi to be a hip currency.”

Since derivatives are being used as a financial weapon of mass destruction that were set into motion under Alan Greenspan — expand the green — with no oversight or regulation, it appears that this is indeed the plan all along to intentionally destroy the US Dollar. But why would destroying the US Dollar be a good idea? Well, could this be because the Bank of International Settlements (BIS) and the International Monetary Fund (IMF), provided of course BIS and IMF policy papers and statements are constantly monitored over the years, suggest that SDRs (Special Drawing Rights) will eventually be put to use as a global currency? Has anyone ever thought how the IMF can simply state that “the Chinese Renminbi as of 2015 is now included in the basket of currencies in the SDR?” Where does that authority come from? It comes through international treaties and agreements made between financial authorities (that doesn’t mean you) of respective nations, in this case China. The other currencies in the SDR “basket” (computer) are the Japanese Yen, the American Dollar, the British Pound and the Euro. The SDRs were created in 1969 on the Bretton Woods Agreement.

Breaking News China’s Renminbi Is Approved by I.M.F. as a World Currency

If as is being claimed by the IMF the SDR is “neither a currency, nor a claim on the IMF”, but is rather “a potential claim on the freely usable currencies of IMF members”, why is it that an SDR as stated by the IMF is currently equivalent to 0.888671 grams of fine gold which was also equivalent to one U.S. dollar when the IMF originally set this value of the SDR? Huh? Is this banker double talk? And if the IMF can state that the SDR is the equivalent of 0.888671 grams of gold, where is the gold? What can be observed in an evaluation that didn’t look with any optimism on the role of SDRs which when this paper was prepared, noted that, “the SDR at the beginning of 2009 had a cumulative allocation of SDRs that amounted to only 21.4 billion.”

Well, the cumulative amount since 2009, unless I misunderstood the IMF statement, has grown to just over US$204 billion today. Under this agreement we see the dysfunctional and confusing state of this IMF financial system: On the one hand, China through the IMF system has purchased US Dollar reserves that were at $2.13 trillion in June 2009. A good portion of these reserves have been invested in US Treasury bonds considered as a “safe haven”. That “safe haven” are now militarizing the Pacific region with its satrap Japan as a bulwark against Chinese military growth. It is then worth noting that China called for a “world currency” and for a “revamping” of how the SDR is structured when the IMF announced the Chinese Renminbi is now in the SDR basket. Those “financial authorities” sure must be doing a lot of shuttling back and forth to get this worked out.

Could anyone imagine the reaction of the global commons if the BIS and the IMF came right out and announced that SDRs will be moved into the position of being a world currency? People would be pelting bricks through the glass front doors of BIS’s headquarters in Basel. The strategy here I think is to gradually implement these banking and financial global systems using the idea of “digital currency” and the constant threat of “economic crashes” as red herrings to keep people befuddled about what the central bank of central banks the BIS is implementing moving forward on their global plans.