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Reader, fwd: "Typical internet nonsense! As a currency trader I can tell you there in no global currency resets ..."
Posted By: hobie Date: Wednesday, 3-Aug-2016 13:26:53
www.rumormill.news/53165
In Response To: NEIL KEENAN FULL UPDATE 8.01.16: Internal Secrets: New Financial System To Save The World (Lion)
(Thanks, e. :)
Reader e. writes and sends us:
=====
Dear Hobie, on NK's Youtube channel, there is below comment about this post and I just like it because enlightening about this whole saga..;
----
Typical internet nonsense! As a currency trader I can tell you there in no global currency resets, no global collateral accounts and there no new financial system as he describes. No one is going to go to a gold backed monetary system especially the US, China and Russia. This would increase the value of of their currencies against the other crosses to such an extent that it would collapse their export markets and then their economies.
Such people making such claims have no understanding how international trade is settled, how currencies are traded and have no real world trading or investment experience.
In 2010 after the financial crisis all members of the IMF except the US have agreed to use more of the SDR to settle international trade. On 10/1/2016 when the yuan is officially added to the 4 basket of the worlds reserve currencies backing the SDR countries may exchange a portion of their dollars, treasuries and government debt for SDRs.
China and Russia just deposited large amounts of gold with the IMF and received SDRs. All central banks have been buying gold and depositing it with the IMF and receiving SDRs. All countries now have SDRs as part of their reserves. This has been happening behind the scenes but now China who heads the board that overseas the IMF has twice recently stated that it wants the IMF to speed up the process and not wait for October.
BRICSA will use the SDR to settle trade with the west. Where China has set up currency swaps it will use those countries currencies along with the yuan. China has just announced the new Asian Investment and Infrastructure Bank will issue loans in SDRs and soon China will issue SDR denominated bonds. Initially the IMF was considering adding gold to the basket but it was scrapped. Recently with all the gold being exchanged for SDRs, the discussion is now back on the table.
This is what really is happening in the international world of finance and has been taking shape now for the last 6 years and come this year the new process begins. This video is 26 min. of nothing but total nonsense!
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Articles In This Thread
- NEIL KEENAN FULL UPDATE 8.01.16: Internal Secrets: New Financial System To Save The World
Lion -- Wednesday, 3-Aug-2016 07:09:02
- Reader, fwd: "Typical internet nonsense! As a currency trader I can tell you there in no global currency resets ..."
hobie -- Wednesday, 3-Aug-2016 13:26:53
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