The IMF’s Latest Move to Kill the U.S. Dollar
BY DAMON GELLER
As we predicted months ago, the IMF officially green-lighted the acceptance of China’s currency – the Yuan – into the IMF’s foreign exchange basket. According to Reuters, this move paves the way for the IMF to place the yuan on a par with the U.S. dollar. This is the latest in a series of global developments that threatens to eliminate the U.S. dollar as the world’s reserve currency. Experts predict this announcement will trigger one of the most profound transfers of wealth in our lifetime. So if you want to protect your savings & retirement, you better get your money out of U.S. dollar investments and into the one asset class that rises as currencies collapse.
The IMF Holds Supreme Power
The International Monetary Fund, or IMF, is one of the most secretive and powerful organizations in the world. They monitor the financial health of more than 185 countries. They establish global money rules and provide “bail-out” assistance to bankrupt nations. Some are warning that any move by the IMF to supplant the U.S. dollar could be catastrophic to American investments.
And now, the IMF has made the first move. As reported by The Wall Street Journal, the IMF officially green-lighted the acceptance of China’s currency – the Yuan – into the IMF’s foreign exchange basket. This marks the first time in history the IMF has expanded the number of currencies in the foreign exchange basket. This means that the Chinese currency will now become a viable global alternative to the U.S. dollar.
According to Juan Zarate, who helped implement financial sanctions while serving in George W. Bush’s Treasury department, “Once the [other currency] becomes an alternative to the dollar, rules of the game begin to change.”
Leong Sing Chiong, Assistant Managing Director at a major central bank, said this dollar alternative “is likely to transform the financial landscape in the next 5-10 years.”
Currency expert Dr. Steve Sjuggerud warned, “I’ve been active in the markets for over two decades now, but I’ve never seen anything that could move so much money, so quickly. The announcement will start a domino effect, that will basically determine who in America gets rich in the years to come, and who struggles.”
Dr. Sjuggerud says if you own any U.S. “paper” assets—and that includes stocks, bonds, or just cash in a bank account–you should be aware of what’s about to happen and know how to prepare. A number of experts believe a recent spike in gold and silver prices is a direct result of the IMF’s action. Precious metals notoriously rise when the U.S. dollar falls.
The Death of the U.S. Dollar in One Frightening Graph
For the last 600 years, there have been six different global reserve currencies controlled by world superpowers. The latest – the U.S. dollar – has dominated world currency for over 80 years. The alarming fact is, global reserve currencies have collapsed every 80-90 years for the last six centuries! What does this mean for America and the dominance of the U.S. dollar? Based on recent evidence and long-standing historical trends, experts predict the imminent collapse of the U.S. dollar! What’s more alarming? Many Americans aren’t yet doing the one thing that will save their savings & retirement from U.S. dollar collapse.
Just take a look at the graph below. It shows the lifespan of dominant currencies going back 600 years. Notice that the U.S. dollar has now been the dominant currency for 88 years, about the same length of time as its predecessors:
It’s obvious why experts say that the U.S. dollar’s days as the world’s reserve currency are coming to a climactic end.
All Fiat Currencies Collapse
“Fiat” currency is paper currency backed by nothing tangible. As opposed to “sound money” which is was backed by gold or some other valuable commodity, a fiat currency is backed by nothing more than faith in the government. The U.S. dollar has been a fiat currency since Nixon closed the gold window in 1971 in what was the greatest heist in American history. The scary fact is, the average life span of a fiat currency is 40 years, and the U.S. dollar has now exceeded 40 years as a fiat currency!
Prior to 1933 and for well over 100 years, the dollar was backed by gold, and $20 bought you an ounce of gold. But after the government stole all U.S. citizens’ gold in 1933 for a $20 paper certificate, gold was revalued at $35 U.S.D., meaning the dollar was devalued by 43% overnight and all foreign and domestic holders of dollars were effectively robbed.
After Nixon closed the gold window completely in 1971, it took $67 to buy an ounce of gold, devaluing the U.S. dollar by 50% again. Today, it takes well over a thousand U.S. dollars to buy that same ounce of gold. Why? Because the U.S. dollar is now nothing more than a fast-declining Federal Reserve note backed by a corrupt government that is saddled with $18 trillion in unpayable debt — growing by $10 million per minute!
