Concerns Surround IMF Plan to Flood World With Liquidity

Contact Your Elected Officials

U.S. dollar’s status as global reserve currency at risk amid CCP-backed IMF plan to boost global liquidity by funneling $650 billion to governments and pharmaceutical interests

The Epoch Times

A controversial plan to boost global liquidity means the days of the U.S. dollar being the undisputed king of the international monetary system may be coming to a close, experts told The Epoch Times.

Losing that status could contribute to a serious crisis for the United States involving a dramatic loss of economic purchasing power, a geopolitical realignment and everything associated with those shocks.

The Biden administration-backed International Monetary Fund (IMF) proposal to issue an unprecedented $650 billion U.S. dollarsโ€™ worth of new โ€œSpecial Drawing Rightsโ€ (SDRs) this year alone will also help re-shape the international financial system.

That is more than twice the total amount of SDRs created by the IMF throughout its entire history.

The SDR is a sort of proto-global currency, based on a basket of leading currencies, dubbed an โ€œinternational reserve assetโ€ by the IMF. Each government receives an amount of SDRs proportional to its stake in the international organization.

The unprecedented new issuance, which has the support of both Beijing and Washington, will contribute to sidelining the U.S. dollarโ€™s role as the global reserve currency, analysts warned. The Chinese Communist Party is expected to be a leading beneficiary.

โ€œThe United States and our G7 partners are actively considering a global effort to multiply the impact of the proposed Special Drawing Rights (SDR) allocation to the countries most in need,โ€ the White House said in a statement.

For well over a decade, leading commentators and even political leaders around the worldโ€”including Communist Chinese central bank officials and numerous European leadersโ€”have called for making the SDR into a true global currency.

Those calls are growing amid the push for a โ€œGreat Reset.โ€ The โ€œresetโ€ plan, which would transform everything from business to governance, is being promoted by the United Nations, the World Economic Forum, the IMF, the British monarchy and other power centers as a way to improve the world.

Ostensibly aimed at making the world more โ€œgreenโ€ and โ€œsustainable,โ€ the shift would require a much larger role for the public sector at the national and international level while moving the world away from what remains of the free-market system. Widespread proliferation of new technologies associated with the โ€œFourth Industrial Revolutionโ€ are a critical component of the effort, too.

BY ALEX NEWMAN

Read Full Article on TheEpochTimes.com

The Thinking Conservative
The Thinking Conservativehttps://www.thethinkingconservative.com/
The goal of THE THINKING CONSERVATIVE is to help us educate ourselves on conservative topics of importance to our freedom and our pursuit of happiness. We do this by sharing conservative opinions on all kinds of subjects, from all types of people, and all kinds of media, in a way that will challenge our perceptions and help us to make educated choices.

A Primer on Conservatism

Conservatism is based on the maintenance and preservation of economic and governmental liberty of the individual citizen to choose what is best for their interests.

Woke Verses Folk Marketing Mayhem

For purposes of this article woke is about 10% of our population while folk is defined as the remaining 90% of our population.ย 

Late nightโ€™s Javan Rhino ย 

Once upon a time in America, late-night television talk shows were nightly viewing for many following their local news.

MyPillowโ€™s CEO Mike Lindell Wins 2 Court Cases

A federal court tossed the $5M ruling against Mike Lindell, saying arbitrators rewrote the rules of his 2021 Cyber Symposium challenge.

Whatโ€™s The Most Realistic Scenario In Which The West Might Replace Zelensky?

Yermak and Budanov agreed with the Anglo-American Axisโ€™ proposal to replace Zelensky with Zaluzhny and โ€œresetโ€ Ukraineโ€™s ties with the West.

American Eagle Responds to Critics Over Ad With Sydney Sweeney

In a statement posted on American Eagleโ€™s Instagram account on Friday, the retailer said the ad campaign โ€œis and always was about the jeans.

What to Know About 7-OH, the Synthetic Opioid Derived From Kratom Facing an FDA Ban

Synthetic opioid derived from the kratom plant sold in gummies, tablets, and drink mixes is to be restricted due to concerns it has serious potential for abuse.

Wall Street Review: Stocks Sell Off Amid Confusion Over Economic Data and Fed Policy

After all-time highs for a couple of weeks, U.S. equities retreated on profit-taking and confusion over direction of U.S. economy and monetary policy.

Mexico Asks US for โ€˜Immediate Repatriationโ€™ of Mexicans Detained in Alligator Alcatraz

Mexican President Sheinbaum said 30 Mexicans are currently being held at Dade-Collier Training and Transition Airport detention center in Florida.

Tariff Rates โ€˜Pretty Much Set,โ€™ Says US Trade Representative

President Trumpโ€™s trade representative, Jamieson Greer, said that Americans should expect the administrationโ€™s tariff levels to remain where they are.

White House Officials Say Trump Had โ€˜Real Concernsโ€™ With Top Labor Official Before Firing Her

White House officials said it was necessary to fire former Bureau of Labor Statistics head Erika McEntarfer following release of lower-than-expected jobs report.

Trump Admin Cancels $26 Million Funding for Baltimore-DC Maglev Train Project

The FRA will cancel two grants worth more than $26 million for the Baltimore-Washington Superconducting Magnetic Levitation (SCMAGLEV) project.

Senate Confirms Former Fox News Host Jeanine Pirro as US Attorney for DC

The U.S. Senate confirmed former Fox News host and political commentator Jeanine Pirro to serve as the U.S. attorney for the District of Columbia.
spot_img

Related Articles