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Is IMF Preparing for Dollar Collapse?

Wednesday, May 7, 2014 15:00

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If I was the IMF and handing out loans to distressed countries, right now, I would do everything that I could to make sure that I got my money back. That means making loans in a currency that will be worth something in the future.

Is that why the IMF loan to Ukraine was denominated in SDRs?

Greg Hunter talked about this with Doug Casey this week, and it was picked up by bitcoinassay.com. The Bitcoin Assay article was picked up by Blacklisted News, and now I have it.

Isn’t the Internet wonderful?

The Special Drawing Right (aka XDR)

The great thing about SDRs (aka, XDR) is that you can change the underlying assets that give it value. It’s a moving goalpost. The Special Drawing Right is whatever the IMF wants it to be, and you can bet that the borrower is never going to come out ahead in any deal with the IMF.

What is the SDR?

An SDR is essentially a unit of value backed by a basket of currencies:

US Dollars – 41.9%

Euros – 37.4%

Japanese Yen – 9.4%

British Pounds – 11.3%

If any one of those currencies crashes, the IMF can switch that currency out for another one. So yes, you can claim that there is a strong US dollar component to the loan made to Ukraine, but that ‘component’ can change at any time. And, please remember that, before this, the International Monetary Fund was making loans almost exclusively in US Dollars.

Is this the first step by the IMF in an attempt to limit the possible damage from a US dollar collapse?

IMF Preparing For Dollar Collapse

Greg Hunter raised that question in his interview with Doug Casey:

Doug Casey-No Way Out-Stock, Bond and Real Estate Markets Will Collapse

YouTube shortlink: http://youtu.be/MUeSjdt6_Bo

We can debate over the question about whether or not this is a plan by the IMF to prepare for a crash of the US dollar. What is not debatable, is the fact that this is yet another crack in the Petrodollar system. Should the IMF start announcing more SDR loans, sit up and take notice.

It All Changes in 2014

Some very smart people have been talking about 2014 as the year when everything changes. The problem is that the vast majority of those changes will happen in smoke-filled back rooms, away from the public eye. You won’t see them until it’s too late to do anything about it.

If you haven’t started buying as much silver as you can carry and as much gold as you can afford, now is the time. Those of you without the extra cash for that, should start stocking up on extra essentials with a long shelf-life. Better yet, get out of the US, entirely.

I talk about all of this here:

http://www.omegashock.com/2013/12/13/the-shock-plan-for-getting-ready-putting-it-all-together/

All of my articles end with a link to that preparation plan. Do more than just think about it.

Are you ready for this?
(That’s a link. Do more than just think about it.)

Credit to Omegashock.com

Source: http://nunezreport.blogspot.com/2014/05/is-imf-preparing-for-dollar-collapse.html

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Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

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