Zero Hedge: The current monetary system is on its way out.
Even the central bankers running the system can see that.
That’s why they are preparing for what comes next as they attempt to “reset” the system.
It’s important to emphasize that nobody knows what the next international monetary system will look like—not even the elites.
However, they know what they want it to look like and are working hard to shape that outcome.
Next, I’ll examine their preferred outcome.
Plan A: CBDCs and SDRs
The new international monetary system the central bankers would prefer involves central bank digital currencies (CBDCs) and the International Monetary Fund’s Special Drawing Rights (SDR) replacing the US dollar as the world’s new reserve currency.
Despite all the hype, CBDCs are nothing but the same fiat currency scam with a new label on it—and zero privacy. They will make it even easier for the government to inflate the currency, and that’s what I expect them to do if they impose CBDCs on us.
However, it’s doubtful CBDCs can save otherwise fundamentally unsound currencies—as I believe all fiat currencies are.
If paper fiat currency is not viable as money, CBDCs are even less viable as they enable the government to engage in even more currency debasement.
Would a CBDC have saved the Zimbabwe dollar, the Venezuelan bolivar, the Argentine peso, or the Lebanese lira?
I don’t think so.
And a CBDC won’t save the US dollar or the euro either.
But that doesn’t mean governments won’t try to implement CBDCs out of desperation… with immensely destructive consequences for many people. Read More …
Opinion: Recently an old globalist idea has resurfaced called the SDR. In my February 5th interview with Jimmy DeYoung, Jr on the subject I said this:
On December 17, 2021, an article in the Global Times reported that both China and Russia who have been trying to remove the US dollar as world reserve currency for over a decade, are working to establish an independent financial trading system to avoid the US dollar.
To understand China’s motives, we need to go back to 2016 when the Chinese yuan was added to the basket of currencies called SDRs or Special Drawing Rights designed to function as an emergency world reserve currency in case of a meltdown of the US dollar.
The SDR is made up of the US dollar, euro, yen, British pound and now the yuan, giving China hopes to one day dethrone the US dollar, making the new digital yuan the world reserve currency. Few economists, however, give China much of a chance at that goal.
I agree that the economic systems of the US and EU are in serious trouble due to massive money printing that began in the 2008-9 financial crisis and the almost unbelievable monetary mistakes of the Federal Reserve and the European Central Bank who waited almost 7 months to raise interest rates to slow inflation. SDR’s are a logical choice to replace the US dollar since the certificates are already in place.
The article indicates that both SDRs and CBDCs could happen at relatively the same time, and the reason may be found in an announcement last Tuesday by the Treasury Department that the US National Debt crossed $31 trillion dollars, and there is a question as to who will finance that debt now that foreign investors led by Japan and China have been consistently reducing their US government bond holdings since 2014.
If/when that trend continues either US interest rates will have to climb exponentially to attract buyers of the bonds, or nations will switch to an alternative store of value like gold.
It is an open secret that China and Russia have been stockpiling gold for years.
If/When central bank-backed money is implemented, it will create an authoritarian government, the likes of which the world has never seen before. And it will happen in all 90+ nations of the world that have functioning central banks.
And If/When that happens, the stage will be set for one man to stand up, of whom Daniel 7:20 describes as having an appearance and demeanor that is greater than all the world’s leaders. Daniel 9:26 says he will rise up in Europe; Revelation 13:4 says he will have the Satanic power, and Revelation 13:16-17 says he will take complete control of western economies with a mark on the right hand or forehead, on his way to global domination.
The infrastructures of the government of Antichrist is almost ready …