Global Currency a Step Closer After G20
With all the fanfare of who’s not kissing whom (Carla Bruni not kissing President Obama) and who is hugging whom (The Queen putting her arm around Michelle Obama,null,null,null), everyone in the media pretty well missed this one…
A single clause in Point 19 of the communiqué issued by the G20 leaders amounts to revolution in the global financial order.
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“We have agreed to support a general SDR allocation which will inject $250bn (£170bn) into the world economy and increase global liquidity,” it said. SDRs are Special Drawing Rights, a synthetic paper currency issued by the International Monetary Fund that has lain dormant for half a century.
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In effect, the G20 leaders have activated the IMF’s power to create money and begin global “quantitative easing”. In doing so, they are putting a de facto world currency into play. It is outside the control of any sovereign body. Conspiracy theorists will love it.
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…No, not just conspiracy theorists, people who enjoy the rights and freedoms of the U.S. will also step back and consider what this means for Americans.
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