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Global Currency Soon? China “Actively Communicating with IMF to Include Yuan in SDR Basket Currency”

Mac Slavo
March 13th, 2015
SHTFplan.com
Comments (67)
Read by 7,925 people

yuan-china-global-currency

It looks like things are moving a lot faster than anyone could have imagined.

Last week, reports circulated that China was positioning itself to become the world’s next reserve currency, and even putting up billboards advertising the global importance of the renminbi to travelers in the Asian world.

Now, China is making public moves to make that a formal reality – a process that has been going on behind the scenes at least since the 2008 financial crisis. China’s leaders are reportedly in talks with the IMF about the process of drafting the renminbi into the Special Drawing Rights (SDR) basket of currencies, which include the U.S. dollar, the British pound, the Euro and the Japanese yen.

According to the BRICS post:

China is pushing for the International Monetary Fund to endorse the Chinese yuan as a global reserve currency alongside the dollar and euro.

A senior Chinese central bank official said Thursday that the country is “actively communicating” with the IMF on the possibility of including the yuan, or RMB, in the basket of the Special Drawing Rights (SDRs).

Including the yuan in the SDR system would allow the IMF to recognize the ascent of the world’s second-biggest economy while aiding China’s attempts to diminish the dollar’s dominance in global trade and finance.

“We hope the IMF can fully take into account the progress of RMB internationalization, to include RMB into the basket underlining the SDR in foreseeable, near future,” said Yi Gang, vice governor of the People’s Bank of China.

The timing is no coincidence, as the International Monetary Fund (IMF) is scheduled for an end of 2015 review of its basket of currencies, a process which takes place only twice in 10 years.

China would need to satisfy the Washington-based lender’s economic benchmarks and get the support of most of the other 187 member countries.

“No matter whether and when the RMB will be included in the SDR basket, China will push on with its financial sector reform and opening-up,” Yi said.

The decision to include China’s renminbi in the SDR would be made formally on the basis of the its annual trade volume, and its evaluation status “as a freely usable currency,” among other factors. China should have little trouble here. In 2013, the yuan surpassed the euro to become the second most used trade-financial currency in the world and was recognized by the SWIFT system for reaching the top five world payment currencies as of the end of 2014:

“It is a great testimony to the internationalisation of the RMB and confirms its transition from an ’emerging’ to a ‘business as usual’ payment currency,” Wim Raymaekers, Head of Banking Markets at SWIFT said in a statement. (source)

Informally, the IMF’s decision is also based on politics, with China’s rise in world power at the forefront, and the increasing significance of the BRICS nations difficult to overstate.

Though it may not be recognized by the average person on the street, these changes have made the renminbi a significant counterweight to U.S. dollar dominance, and signal a tectonic shift away from U.S. hegemony and the decline of the petrodollar’s power.

The coming decision to include China as a major weight of global reserve currency is a huge move, even as many have seen it coming.

The scheme to fade out the dollar as the world’s reserve currency and bring the SDR to the forefront, with the inclusion of the renminbi, has, of course, been in the works for several years at least.

Kurt Nimmo reported on the IMF’s global currency plan as far back as 2010, when the now-defamed Dominique Strauss-Kahn headed the IMF:

“Over time, there may also be a role for the SDR to contribute to a more stable international monetary system,” said Dominique Strauss-Kahn, managing director of the IMF. He said there are some “technical hurdles” involved with SDRs, but he believes they could help correct global imbalances and shore up the global financial system.

[…]

Following the onset of the engineered global financial crisis in 2008, the so-called BRIC countries – Brazil, Russia, India and China – led primarily by Russia and China, have called for dumping the dollar and moving into a global currency scheme. The SDR facility stands ready.

The IMF and the globalists plan to elevate China and undermine the United States. Strauss-Kahn told reporters last June in a news briefing that he believed there would be more pressure to include yuan, also known as the renminbi, among SDR currencies.

Early in 2009, China issued an aggressive call to dump the dollar and move into SDRs.

[…]

The IMF cooked up the SDR scheme in 1969. It was originally intended to be the primary asset held in foreign exchange reserves under Bretton Woods, but after the collapse of that system in the early 1970s – a victim of the bankster plan to send the U.S. deficit into the stratosphere – SDRs took on a far less important role.

How long until we officially have a one world global currency?

 

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Author: Mac Slavo
Views: Read by 7,925 people
Date: March 13th, 2015
Website: www.SHTFplan.com

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67 Comments...

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  1. eppe says:

    Everyone wants to be top dog…
    One World Money, given time…

    • Braveheart says:

      Eppe, no way I’ll bow down to the gooks or any other scum wanting to be the king of the world. No mark of the beast for braveheart.

      • Gods Creation says:

        “””drafting the renminbi into the Special Drawing Rights (SDR) basket of currencies, which include the U.S. dollar, the British pound, the Euro and the Japanese yen.”””

        Of course, once the people wake up out of sheer necessity, none of these fiat currencies will be used for anything but toilet paper anyway.

        SDRs is a way to keep the fiat currencies alive for the banksters while they work to establish a “government” based on the Chinese model, in America. Nothing more.

        I can’t stop them from doing that, but I firmly believe that God will do so once his judgement is passed on those who have forsaken Him and His Law. That includes every nation on earth but maybe Iceland, especially the evil commercial entity known as the United States, that uses worthless man made money and law.

        When God and His Law prevails, man’s law and man’s money will all be known for what they. Crimes and deception by Satan against God’s people.

        =============================

        I will go a little off topic to share something you MUST understand before God passes His judgement on this world of heathens and the governments they install:

        http:REMOVE//www.kingwatch.co.nz/Law_Government/romans_13.htm

        If you fail to understand what God expects us to do with His Law and how to live by it, you will feel the wrath for your ignorance.

        Time is short. Learn and live Gods Law and maybe you will be spared and allowed to make it through to the other side of Armageddon.

      • sixpack says:

        “or any other scum wanting to be the king of the world”

        I sometimes think we miss the whole idea behind the NWO. The globalist banksters want to be kings of the world, NOT ANY COUNTRY. They want to take the sovereignty of ALL countries away, making us all slaves unto the banksters, who owe no allegiance to any country.

        There will be no other leaders. Not American, not Russian, not Chinese. That is the biggest reason we have to fight the NWO plan. THE BANKSTERS INTEND TO DESTROY US ALL.

        And they’re doing it one step at a time.

        • Anonymous says:

          ” THE BANKSTERS INTEND TO DESTROY US ALL.

          And they’re doing it one step at a time.”

          by turning every ethnic group against another, nation against nation. What if they had a war and no one came?

        • KILLCEN says:

          I think you’re correct sixpack.

          The way I see it, the only chance Americans (or anyone for that matter) has is to pay off any debt they owe and to become self-sufficient. To hope for the best, but prepare for the worst.

          The only way banksters can rule over us is if they (1) disarm the American public and (2) fold us into their debt traps. We need to use their fiat currency against them while we still can: stockpile assets needed to survive, diversify our income and keep it out of the banks.

    • passinwiththewind says:

      Yep, and China is on the warpath.

      Check out the whole story here. Remove the space from the HTTP…

      ht tp://www.morningliberty.com/category/child-abuse/chinausa/feed/

      • passinwiththewind says:

        According to the China Daily report, dated march 12th…

        “The yuan-denominated price for gold will not compete with the current dollar-denominated price. Instead, it will be complementary, offer one more choice, and the yuan-denominated and US dollar-denominated systems can be cross-referenced,” said Xu, adding that the yuan-denominated benchmark price will only make gold prices more reasonable. It will also reflect the existing supply and demand situation, as China accounts for about 40 percent of the global physical gold demand.

        China is also the world’s biggest producer and second-largest consumer of gold. Currently global gold prices are decided by the century-old London fix, which has been under scrutiny because of alleged price-manipulation and will soon be replaced by a new mechanism involving more participants.

        Analysts said the move, if successful, will help popularize global use of the renminbi, which has already become world’s fifth most-used settlement currency and reserve currency for some banks.”

        Ah ha, they are inching ever closer, Just like the illegals coming into this country, if you give them an inch, they will take a mile.

        Welcome to the 21st Century.

    • FuckingPissed says:

      How about we just trade the severed heads of our scum leaders and scum supporters as well as all their possessions.

    • Acid Etch says:

      http://www.thedailysheeple.com/7-ways-the-matrix-coerces-public-consent-for-torture_032015

      http://www.thedailysheeple.com/theres-only-one-way-to-stop-a-murderous-government_032015

      Homan square is why I am glad people are shooting the pigs.

      “But the pigs just follow orders.”

      Yeah bitch, nothing is ever anybody’s fault in a bureaucracy.

      Read the links.

    • Rodster says:

      This is what Brandon Smith has been preaching for quite some time. The goal is to have a one world currency followed by a one world govt.

      • Richard Head says:

        I think a standard digital currency will come first. Have yall noticed how many places won’t take anything over a twenty dollar bill these days. The friggin pizza hut by me wont take over a 20. Hellfar one pizza is nearly 20 bucks, Subway, many more I cant remember. This is BS and I’ve always figured is just conditioning towards a cashless society. Of course they’ll say it’s because of robbery which is Bs.

        • Rodster says:

          Hmm, while I see your point and it’s a valid one. I used to work at Pizza Hut and robberies were common. Add political correctness and the court system where you either include or exclude everyone and it’s possible it could be for that primary reason.

          That said I also think eventually we will be herded towards a digital payment system because it cuts down on the black market payment system where money is passed and the Govt can’t account for it.

  2. Braveheart says:

    Looks like the dollar’s days are numbered. No way I’ll take the mark of the beast. Everyone keep prepping. Get everything you can now while there’s still time.

  3. durangokidd says:

    eppe: One World Money? I use to think that too but the FX is by far the largest traded market ($50 Billion a day?) with massive profit opportunities for the banks. Adding the RMB just increases that profit opportunity.

    One World Currency will be digital and many years away when quantum computing is the norm. 🙁

    • passinwiththewind says:

      I think you are partially right, and for this reason.
      ..
      Everything future is speculative where timing is concerned. Even biblical texts that are the true inspired Word of our Creator. We are given just enough information to make sound speculation, based on signs of the times past and present, and events that have been fulfilled in history. But of exact dates/days and hours we know not.

      When wanting to get a closer look at truth and timing of events, I look closely at the Word and try to base my opinion on that particular “timing”, and how it aligns with current events.

      In the last days, of which we are now leading in to; there will be “ten” nations/leaders, that rule/control the world.
      In Revelation they are referred to as “horns” of the One World Beast System.

      When the little horn, which is none other than Satan, playing the role of Christ returned, gets booted out of Heaven and cast down to earth for his little/shortened reign; he will cause three horns/nations to be uprooted/ withdrawn, or in some way, become void of the new world system that has a new leader, that we christians refer to as antichrist.

      It is then, and not until then (I believe) that a full on digital system of finance will be imposed, which requires the availability of tracking every individual that participates. Hence mark and allegience of the beast.

      We can only hope and pray that what is left of USSAG, will be one of the “uprooted” horns/nations that doesn’t participate in the Beast System.

      • ENFP says:

        I thought it was just the 3
        leaders that got uprooted, not the whole nations. I think O believes he will be at least one of these leaders, if not the leader (little horn). But they aren’t going to use that so-called leader for anything other than to bring down the USA.

    • hammerhead says:

      I dont want no stinkin digital currency !
      Let me keep my fiat paper , at least i can hold it .

      I dont think quantum computing is that far away, i have a friend who’s brother works in silicon valley and says its really close to reality , like 5 years !

      • Mountain Trekker says:

        hammerhead, problem is, people use all of these alternate forms of finance, which therefore promotes them. Such as credit and debit cards and checks and direct withdrawal. And most people that are always bad-mouthing the fiat currency rarely ever use it. Many people have direct deposit and then use a debit card, and many never touch a greenback, which will at some point make it very easy for BigBrother to eliminate the fiat currency from the system. Seems drug users and drug dealers are the very few that still uses cash. Another excuse for TPTB to eliminate it. Trekker Out. Always Use Cash Whenever Possible!

        • hammerhead says:

          I’ll tell ya MT , I do have a debit card, but we use it for emergencies , much like others use a credit card.
          Cash for everything else.
          If ya need a tow or whatever , digital on the card is OK.
          But to completely eliminate cash is silly , it opens everyone up to unlimited control senario’s .

          I ran some cattle in last fall , last week we withdrew money to pay for the wifes new(used) car .
          These asshats hadta get THREE (!)authorizations to allow the cashiers check to be printed , because it was just over ten k .
          I wonder what woulda happened had i asked for cash ?

          • Mountain Trekker says:

            Yep hammer, other methods are handy and needed sometimes, but I use cash as much as possible. A cashless society will be a controlled society. Half of the places you go into anymore and buy something with a $100 bill, they can’t hardly make change, unless it a store like WalMart.

    • yourmotherwaswrong says:

      durangokidd says:

      “Adding the RMB just increases that profit opportunity.”

      LOL!

      Hedging your bets now DK?

      “One World Currency will be digital…”

      What happened to “King Dollar???”

      • durangokidd says:

        YMWW: Hedging my bets? No, asswipe, the dollar is still KING and will remian so for quite some time. China is still years away from joining the club as a FULL PARTNER.

        This is due mostly to the systemic hurdles the Yuan must pass first, and the accumulation of cheap Yuan into the coffers of the central banks.

        I have stated here many times for the “chicken little sky is falling crowd’ that it is a natural thing for the second largest economy of the world with the most populous nation to have a currency that is fully integrated into the world economy.

        This is just part of the process to make it so. Its in the archives. 🙂

        • durangokidd says:

          YMWW: I have also stated here many times that a OWC could only become operable when quantum computing was the norm and computer security ironclad.

          I have also agreed that all fiat currencies are eventually replaced and the dollar will be too, but not anytime soon; because the dollar is the weapon of choice for the NWO and there are battles to be fought, wars to be one, and nations subdued. This should be apparent even to a mindless troll, based upon current events.

          Historically, currencies transition from metals backed money to fiat to metals backed money over time, and that may happen to the dollar too; but I doubt it. That is just not in the interest of the central banks: the FED most of all.

          War is more likely. That would be standard operating procedure. 🙁

        • The Old Coach says:

          Don’t talk sense to these people, DK. It upsets their mental metabolism.

  4. Breathial says:

    I knew this was coming. As the dollar is dropped as the world’s reserve currency, you’ll see prices here in the USA for consumables quadruple almost overnight. As well, all the FRNs that have been exported will return quickly, starting a hyperinflationary collapse.

    We live in interesting times.

  5. Sgt. Dale says:

    We have know for a long time that China was going to make a move.
    The problem is that China is not much better off than we are.
    They may have it for a while but they will crash and burn just like the Good Old USA economically. The problem they have there is that they have a lot more people to feed and take care of. The Zombie class will rise up against them if they become the top dog on the food chain. They will handle it differently than we did. We just kept giving and giving. They will to, but it will be 7.62×39’s.
    Like Braveheart sais keep prepping. I say get more gold and silver if you can. Lead and brass would be good to!
    Sgt.

    • Acid Etch says:

      China and Russia can field 1 million men each and they are increasing the military budget.

      Amerikkka can field 500,000 and we are still cutting.

      The SMART thing to do would be to build more nukes stealth bombers and battleships, and have a rifle behind every blade of grass.

      Instead we want to ban the fucking AR round and cancel production of the latest fighter jet.

      Do y’all see why I am so pissed off all the time?

      • Mountain Trekker says:

        NO, WHY!

      • Richard Head says:

        F……U……C…….Kayed.

        And no way out of it

      • Cede says:

        Not quite. We have 1.3 million active Military and around 800K reserves. 2.1 million total.
        Russia has 2.880 million Active and Reserves total.
        China has 2.285 million Active, and 800K reserves, plus 1.1 – 1.5 million People’s Armd Police
        which is a total 0f around 4.5 million total.

        Our biggest worry is the fact that China has a pool of 300 million men and 300 million woman of Military age that can be called upon to serve. Twice our entire population!!!!

        What’s even worse? Russia and China have more countries friendly to them then we have. I think most of the world still hate us for something.

        But, dont worry, we still have Sarah Palin up in Alaska defending the North West approach with a hockey stick. She’ll keep an eye on them Russians!! She can see em from her kitchen window

        • durangokidd says:

          According to Washington’s vision, the entire world will be against US at the end, yet America will still prevail by the Grace of God. Believe what you want. And yes, it is moving in that direction.

          Stack n pack; lock n load. The NWO can be eliminated overnight and at 500 yards. 🙂

    • passinwiththewind says:

      China is doing pretty fair economically I’d say, based on the statistics that say they have and will spend about 35 billion dollars this year, just on jewelry.

      A country that is struggling economically will not be spending that kind of $$ on shit they can’t eat or wear.

      • Anonymous says:

        Pissing, you can’t believe anything the Chinese officials say. My Chinese friend said there is a saying in China– they don’t need census workers because the govt makes up its own statistics! things are really bad over there– even worse than here! Her friends who had to go back wrote and told her she should not come back because no one can find jobs even with masters degree and housing is unbelievable expensive– even for the rich people!!

        • Cede says:

          HA!! Don’t you believe it!! Take a trip over there sometime. You’ll realise that the Great American Dream we thought we were living up until 2008, was in fact …. Just a dream. Our propaganda machine is working overtime.

          I have family working professionally over there in China. China are eclipsing us off the map. We can never hope to catch them again unless me managed to flatten them with nukes.

          We are Britain of the 1970’s. Tired, broke, unemployed and without our (economic) Empire.

          • durangokidd says:

            A new generation of Chinese leadership has had 25 years of unbroken prosperity under crony capitalism. The bottom will eventually drop out for China as the business cycle hits and the wake up call for the masses will be quite shrill!

            If Hong Kong is any indication of the fire in the belly of the masses at the bottom of that “classless communist society”, FERGUSON may look like a cake walk in comparison when the music stops. 🙂

          • The Old Coach says:

            China has one fatal flaw. We are bad, but we are 1000+ years behind them in the exercise of corruption. A colleague of mine who in 2011 came back from an 8 year stint managing a manufacturing facility over there couldn’t stop talking about it. A corollary of this is that there is no such thing as ethics. However successful individuals or sectors of China may be now, they will destroy themselves from the inside out, probably sooner rather than later.

  6. Satori says:

    highly unlikely the yuan will become THE world’s reserve currency any time soon

    the only government that lies more about how well its economy is doing besides the U.S. is the Chinese

  7. Kulafarmer says:

    Beans bandaids bullets
    Who cares about the rest of this kakapoopoo!

  8. Horse'sass says:

    China not ready to pounce yet. As long as US and western central banks are needing and able to keep the price of gold suppressed, China all to willing to go along with the status quo and gobble up all the gold it can on the cheap.

    US and western central banks have no choice but to keep the price of gold low, because if it rises appreciably, that will be the signal that the dollar is about ready to collapse. China of course is facing its own internal debt problems, and doesn’t want to throw the world into a great depression which would immediately starve it’s export based economic lifeline.

    China has probably has accepted the fact that it’s 1.2 trillion in US dollar reserves is a loss cause, and that best chance for any recovery for its dollars is to spend them down very slowly and beneath the radar.

    Stalemate. Checkmate. In this day and age, it is the same. Either way, brace for impact.

    • durangokidd says:

      When the Chinese RMB is classified as a “World Reserve Currency” with the dollar and euro, cheap yuan will have already been stashed away in large floor to ceiling stacks (like a drug money house) into the accounts of the major banks.

      Why? Because when that finally occurs, the Yuan will explode in value to the upside and those cheap yuan will quadruple in the bank vaults; making the major banks and bankers richer than ever.

      Before that, expect the price of gold to decline (until SHTF) because China has now joined the new gold price fixing agency in London. China will continue to accumulate tonnes of gold at these suppressed prices.

      You should too. 🙂

    • ENFP says:

      Or to collect the hard assets when they invade a US weakened by internal conflicts

  9. Klemens says:

    “I feel that the Lord has placed me here for a short time”

    http://beforeitsnews.com/opinion-conservative/2015/03/i-feel-that-the-lord-has-placed-me-here-for-a-short-time-2982318.html
    Supposed to be the last pope before endtimes!
    So this pope knows he has got only a short time.
    So that means…………

  10. hammerhead says:

    OT-
    Stopped off at the grocery on my way home today.
    This guy was gettin ready to tear open quarter rolls and feed them into a change machine for cash.
    I offered him face value (machine takes 10%) and so i bought three rolls of quarters.
    Two of the rolls were pre 65 and the other was mixed.
    I’m beginning to think friday the 13th is lucky !

    • passinwiththewind says:

      Good move…there.. ex-lax!

      Sorry hammer, i couldn’t resist. i am envious.
      Glad you got lucky, though.

      • hammerhead says:

        HAHAHA
        Its a small win , but its a win !
        They all count .

        • Mountain Trekker says:

          hammer, I wouldn’t perzactly call buying 2 rolls of pre65 quarters and a 3rd roll of mixed for face value, a small win. Trekker Out.

          • hammerhead says:

            MT-
            Why not ?
            I exchanged fiat for junk silver worth more than the fiat?
            How is that not a win ?

            • Kevin2 says:

              You make 10x your money on each silver coin.

              Find a way to do that on a larger scale a couple of times and your working days are over.

              Was the guy doing it ok or mentally challenged? I don’t know what rock someone could have been under not to realize that those silver coins are valuable.

              • hammerhead says:

                K2-
                When i see a guy with faded paper wrapped coin rolls at the coinstar machine , i see a guy who needs cash.
                I saved him 10% .
                A while back my wife did this (URGH)and dropped some of my junk silver into this damn machine .
                I may have broke even today !
                Aint life a grand experiment ? LOL

            • Mountain Trekker says:

              Hammer I didn’t mean that it wasn’t a win, I actually thought it was a rather good win, it was the small part that I was questioning. If I made that kind of deal, I would be pretty impressed. Trekker Out.

    • Northern Reb says:

      Hammer:
      You lucky stiff, maybe a lottery ticket to day???
      A silver quarter is selling for around $3.00 a piece.
      S.T.S.F.P. N.R. N.S. N.Reb

  11. Kevin2 says:

    “I support the yuan as the worlds reserve currency”. “Why”? “Because their economy is better”. “Ok, what are the Chinese invested in”? ” The Chinese are invested in US Treasuries”.

    “Oh”.

  12. Jim in Va. says:

    Send more noodles…….

  13. Northern Reb says:

    The dollar, the euro, the pound, the yen, are all a ponzie scheme currency. Sooner or later they will not be able to print them, not with out deflating them to the point that they will only be good for toilet paper.
    You can use just about anything for barter or trade, but money???
    The only true money is Gold, Silver and Copper. I could add lead, but some of that has a alloy coating over them and thought to be evil armor piercing.
    The only reason they (China) are jumping in the money ponzie pool with the rest of them is so that they will not miss out on any thing when everything go CRASH!!!. They want to be in the big boy country club too.
    Can you say one world slavery. If you don’t work for the state you don’t eat and don’t get a shack to live in.
    Wait a minute that might be a up grade for what is been going on here for the last 50 years. No work ,but have food and a nice home and car, if you don’t blow all that free money on Booze, drugs and cigarettes, porn and don’t shot tee-shirts. The great society. thank you, Pres. Johnson (L.B.J.)
    Buy silver for the average Joe, like me and the one that can buy gold do it. Plus some other goods, bullet, beans and other fun stuff.
    S.T.S.F.P. N.R. N.S. N.Reb

  14. Hey china has numerous problems. We buy all of there garbage. Our military is the best. China creates nothing new. AH-SO Motherfletchers.

  15. Rocky Mountain Ghost says:

    The money bubble is here it will pop the stage is set WW3 and economical collapse is here it’s game over people everyone need to get busy on there preps and building stock piles of every kind, food,medical, basic necessities, gas, bug out place, bug out route, water. Everyone needs to build them a tight circle of friends and family and you all need to plan accordingly. Mac you are doing a great job n this sight and giving us a lot of info but I feal that we all know that the end is near and it is game on. So can we start giving out real info that is key to survival and prepping and hopefully everyone here will stop being couch warriors and stop some of the arguing that goes on here.

  16. intuit says:

    The currency will only be important for a very short time after the bubble burst

 

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