New World Currency + Gold’s Slingshot… Coming Soon!

• New World Currency + Gold’s Slingshot… Coming Soon!
  by Chris Campbell, http://lfb.org/  
  … Think the “one world currency” narrative is just bollocks dreamed up by wingnut conspiracy theorists?
  –
  If so, you might be severely disappointed by today’s episode. Read on at your own risk. The unfortunate truth is this: the conspiracy theorists are spouting old news. The global currency already exists. It has for decades. Not as a potential. Not as an option. Not as an opinion. Nor as a goal or plan. But as something which is already in place. And here’s the strangest part about it: The only hold-up to the central banks rolling it out is, according to Rickards, China and her small(ish) gold reserves.
  –
  I’ll explain what I mean in one moment. But there’s something else you should know first… Last Friday, if you recall, I had exciting revelations to share from our company party on Friday, April 17. … something big was happening an hour away in D.C.: Central bankers were passing around revelations of their own in one hush-hush meeting. And these revelations were, of all things, about the construction of a global currency.
  –
  Here’s what you need to know…
  The meeting was conducted by one organization calledThe Official Monetary and Financial Institutions Forum (OMFIF). According to OMFIF’s website, this meeting was attended by “a select group of central banks and other official sector institutions.” And, says the website, the briefings took place “during the International Monetary Fund and World Bank Group spring meeting in Washington.”
  ….
  First, though, Jim is going to explain how this one world currency plan will play out. And show you how it ties into seemingly-unrelated global events you read about every day.
  –
  * “Since Federal Reserve resources were barely able to prevent complete collapse in 2008,”Rickards writes in his New York Times best-seller, The Death of Money,“it should be expected that an even larger collapse will overwhelm the Fed’s balance sheet.”
  –
  Everyone knows that the powers-that-be never allow a good crisis go to waste. That’s why, when the next bust takes place — without missing a beat — the global currency will slide in like a cool Tom Cruise in Risky Business. Rickards goes on:
  –
  “The specter of the sovereign debt crisis suggests the urgency for new liquidity sources, bigger than those that central banks can provide, the next time a liquidity crisis strikes. The logic leads quickly from one world to one bank to one currency for the planet.”
  –
  This one world currency, to no one’s surprise, was created within the walls of the IMF. In 2010, in just one example, the IMF released a paper titled, “Reserve Accumulation and International Monetary Stability.”
  –
  In this paper, the organization recommends the entire world adopt one global currency called the “Bancor,” an idea inspired by the economist John Maynard Keynes. It also proposed that one global central bank administer this currency. (Hmmm… wonder who that might end up being…)
  –
  To ensure the plan works out, all the IMF has to do is stand in the right place with its glove out when the dollar starts to crash.
  –
  “The task of re-liquefying the world,” Jim Rickards goes on, “will fall to the IMF because the IMF will have the only clean balance sheet left among official institutions.The IMF will rise to the occasion with a towering issuance of SDRs, and this monetary operation will effectively end the dollar’s role as the leading reserve currency.”
  …
  * What does a gold-backed SDR mean for the price of gold?
  “Dividing the money supply by the gold supply gives an implied, nondeflationary price for gold, under a gold-backed SDR standard,” Rickards calculates, “of approximately $9,000 per ounce.
  ….
  “Nominal values of debt would be left unchanged, instantaneously solving the global-sovereign-debt-and-deleveraging conundrum.
  ….
  * But in the meantime, says Rickards, the central banks are “out there making the San Andreas Fault bigger so we can have even bigger earthquakes in the future.
  –
  “That’s exactly what’s going on.”
  It’s all a question of what will happen first. An uncontrollable collapse of the monetary system, or a new world currency backed, in part, by gold. Or both. Those appear to be our options. Jim doesn’t recommend you stand by and hope that the global currency will “fix” what ails us.
  –
  “I would say two things about the monetary collapse,” says Jim. “It could happen very suddenly — and likely it will — and we won’t see it coming, so investors need to prepare now.
  –
  read more!

end