IMF expecting to add China’s currency–another step in the replacement of the US dollar?

Chinese currency notes

The International Monetary Fund has boosted China’s currency internationally:

November 16, 2015

The IMF is already clearing a berth in its basket of reserve currencies for the Chinese yuan. Once official, the yuan will be the first new currency to be added to the IMF’s special drawing rights (SDR) currency basket since the modern SDR system began in 1981. (The euro replaced the Deutsche mark and the French franc in 1999). The Wall Street Journal hails the approval (paywall) as a “milestone in China’s efforts to establish the country as a global economic power.”

That’s probably overstating things a tad. The re-weighting will boost demand for yuan-denominated assets by at most $40 billion, says Societe Generale. …

Yuan use for trade will likely continue to rise. But once China’s leaders realize that the price of global glory is control, the yuan’s march on international finance centers will surely stumble. http://qz.com/551433/the-yuan-as-a-global-reserve-currency-dont-hold-your-breath/

While China will have issues, and will NOT be the economic leader in this age (the Bible shows that Europe will in Revelation 13,17, & 18), what about the US dollar? Notice the following report:

November 16, 2015

NEW YORK – A decision last week by the International Monetary Fund to accept reserve-currency status for China’s yuan advances a developing plan backed by the United Nations to replace the dollar as the world’s reserve currency.

Last Friday, IMF Managing Director Christine Lagarde endorsed a staff recommendation to include China’s yuan in the basket of four currencies that currently make up the IMF Special Drawing Rights, or SDRs: the U.S. dollar, the euro, the British pound and the Japanese yen. The SDRs play the role of an alternative to the use of the U.S. dollar to settle transactions in international trade.

In a reversal of policy from policy of previous presidents, President Obama has indicated the United States plans to drop opposition to the inclusion of the Chinese yuan in the IMF basket of currencies, giving a green light to anticipated IMF approval of the plan at a meeting of the IMF board Nov. 30.

Today, SDRs issued by the IMF are used typically by IMF member nations primarily as a reserve account to support international trade transactions, not as international currency available to settle international debt transactions in danger of default.

In an important step, the G20 summit meeting in London April 2, 2009, crossed a threshold toward the creation of a global currency through a proposal calling for the IMF to use SDRs to replace the dollar as the world’s reserve currency of choice.

Point 19 of the final communiqué from the 2009 G20 summit in London specified: “We have agreed to support a general SDR which will inject $250 billion into the world economy and increase global liquidity.” It was the first step toward implementing China’s proposal that Special Drawing Rights at the International Monetary Fund should be created as a foreign exchange currency to replace the dollar. http://www.wnd.com/2015/11/global-currency-plan-gets-boost-from-imf/#5MCP51jTWzfjVqP2.99

So, notice that the basic purpose of the SDR program is to dethrone the USA dollar as the world’s reserve currency.

Notice also the following:

November 17, 2015

Leading American financial analyst Warren Pollock has warned that the US will slip into the biggest ever financial depression in the history of the world. http://www.ibtimes.com.au/economic-collapse-big-economies-us-china-may-trigger-war-says-financial-analyst-warren-pollock

November 16, 2015

Get ready for a big change in the global economy. The staff of the International Monetary Fund is now recommending that China’s currency be included in the fund’s basket of special reserve currencies. The IMF”s executive board plans to decide on Nov. 30 whether to use the renminbi in calculating special drawing rights.

The U.S. does not seem prepared to focus on the longer-term issues that arise out of the current global competition. The contenders in the 2016 presidential race appear to be oblivious to the looming shadow that faces them. http://www.thestreet.com/story/13366753/1/china-s-renminbi-gets-closer-to-being-reserve-currency-and-changing-global-economic-picture.html

When the USA dollar finally loses its status as the world’s reserve currency, it will be worse than most politicians seem to realize. Expect inflation, interest rate rises, followed by hyperinflation, followed by collapse of the economy of the USA.

The Bible teaches that the USA will end–and the end will come because of international concerns about its debt (Habakkuk 2:6-8), plus the USA relying on military strength and allies that will betray it (Lamentations 1:1-2; Daniel 11:39).

For a long time, the IMF has been concerned that the USA dollar has too much influence in the world and it has been open to ways to change it. The likely addition of the Chinese currency is one step it is looking at to reduce the international financial influence of the USA.

Once interest rates rise a lot, it will be a serious issue for more than the politicians in Washington. It will be a ‘catastrophe’ that will be a factor in the ‘game’ of the USA standard of living being over. And actually it will be worse that that.

The time will likely come when USA interest rates will rise so much that this will ultimately cause a crisis of intense magnitude. The admitted US federal debt (not counting the money created through the quantitative easing programs) is so large that if interest rates rise to the place that they were in the USA in the early 1980s, the USA will have difficulty even paying the interest on the debt it has been accumulating. This will tend to cause interest rates to further rise and contribute to hyperinflation.

Part of the reason that the USA has been able to stave off inflation has been the status of its dollar as the world’s reserve currency. Many US dollars are in banks and other places outside the USA, meaning that they have not returned to the USA to buy goods and services. When those foreigners stop holding the dollars and want to redeem them, inflation will happen. When enough do so, hyperinflation will result.

Which means?

Costs of almost everything in terms of the USA dollar will rise.

The Bible warns the following:

13 “Behold, therefore, I beat My fists at the dishonest profit which you have made, and at the bloodshed which has been in your midst. 14 Can your heart endure, or can your hands remain strong, in the days when I shall deal with you? I, the Lord, have spoken, and will do it. 15 I will scatter you among the nations, disperse you throughout the countries, and remove your filthiness completely from you. 16 You shall defile yourself in the sight of the nations; then you shall know that I am the Lord. (Ezekiel 22:13-16)

Printing/electronically creating money, as the USA has been doing to finance its debt, is a ‘dishonest profit.’ The reserve status of its currency has allowed the USA to do this. USA has been more and more living off of these dishonest profits and that will end.

Why? Notice the following:

43 The alien who is among you shall rise higher and higher above you, and you shall come down lower and lower. 44 He shall lend to you, but you shall not lend to him; he shall be the head, and you shall be the tail. 45 Moreover all these curses shall come upon you and pursue and overtake you, until you are destroyed because you did not obey the voice of the LORD your God, to keep His commandments and His statutes which He commanded you…47 “Because you did not serve the LORD your God with joy and gladness of heart, for the abundance of everything, 48 therefore you shall serve your enemies, whom the LORD will send against you, in hunger, in thirst, in nakedness, and in need of everything; and He will put a yoke of iron on your neck until He has destroyed you. 49 The LORD will bring a nation against you from afar, from the end of the earth, as swift as the eagle flies, a nation whose language you will not understand, 50 a nation of fierce countenance, which does not respect the elderly nor show favor to the young. 51 And they shall eat the increase of your livestock and the produce of your land, until you are destroyed; they shall not leave you grain or new wine or oil, or the increase of your cattle or the offspring of your flocks, until they have destroyed you. 52 They shall besiege you at all your gates until your high and fortified walls, in which you trust, come down throughout all your land; and they shall besiege you at all your gates throughout all your land which the LORD your God has given you (Deuteronomy 28:42-45,47-52)

The world order will change.

The IMF, Russia, China, India, Iran, some of the Gulf States, and the Europeans are all working to dethrone the dominance of the USA dollar. And while they are still not able to, the time will come when the USA dollar will be worthless for anything except burning for warmth or other uses for the type of ‘paper’ the bills are printed on.

Once interest rates get too high, the USA will have an economic crisis of unbelievable magnitude. National repentance is what is required, and since that is not going to happen, catastrophe will.

Personal repentance is still possible as that is the only way out of the problems that will hit the USA and its Anglo-Saxon descended allies.

Some items of possibly related interest may include:

Alternative to the US Dollar in the Fall of 2015? Is the US dollar about to lose its dominance as the world’s reserve currency? Does the Bible teach anything about that? Could Porter Stansberry be correct that the International Monetary Fund will announce an alternative to the US dollar in the Fall of 2015? Do Does the IMF, European Union, BRICS (Brazil, Russia, India, China, and South Africa), and other groups want the US dollar dethroned? Are China and other nations doing something to try to make this happen? A written article of related interest is titled: Stansberry: US dollar replacement to be revealed October 20, 2015? What about 2016?
The ‘Harbinger’ and September 2015 Are you aware of many events that are to happen in 2015? These expected events include the end of military operation Jade Helm, a claimed end to a Shemitah year, Pope Francis speaking before US Congress, Pope Francis speaking before the United Nations, a planned UN proposal to recognize the State of Palestine, and the fourth of four ‘blood moons’ of 2014 & 2015. A written article of related interest is titled: September ‘convergence’: a harbinger of potential disaster?
Project Prophecy: Economic Collapse Starting in 2015? Jim Rickards once worked for the CIA and also was once part of a a USA government program called called ‘Project Prophecy.’ He has a video were he claims that starting in 2015, the USA may have economic collapse resulting in a 25-Year Great Depression. He mainly cites debt figures and claims advises alternatives to the USA dollar which he says will collapse? What did Rand Paul state? Can the USA dollar collapse? This is a video.
Market Collapse then New World Order in 2015? A long-time financial adviser named Harvey Organ claims that claims that because of insufficient gold in the central banks of USA and UK, that Shanghai would bring about exposing this and that this would lead to a massive, overnight, rise in the price of gold and silver, diminished value of their currencies. He states a market collapse will occur before the end of 2014, that the petroyuan will replace the petrodollar, and that a Chinese led New World Order will be in place for 2015. Is this possible? Where does the leader of the ‘New World Order’ come from? What does the Bible teach? This is a video.
The Plain Truth About Gold in Prophecy. How Should a Christian View Gold? What do economists and the Bible teach about gold? Gold and silver may drop in value. Inflation/deflation? What do Christians need to know about gold?
When Will the Great Tribulation Begin? 2016, 2017, or 2018? Can the Great Tribulation begin today? What happens before the Great Tribulation in the “beginning of sorrows”? What happens in the Great Tribulation and the Day of the Lord? Is this the time of the Gentiles? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord? Who are the 144,000? Here is a version of the article in the Spanish language: ¿Puede comenzar la Gran Tribulación en 2016 o 2017? ¿Es el Tiempo de los Gentiles? You can also see the English language sermon video: The Great Tribulation from the Mount of Olives.
World War III: Steps in Progress Are there surprising actions going on now that are leading to WWIII? Might a nuclear attack be expected? Does the Bible promise protection to all or only some Christians? How can you be part of those that will be protected? A related video would be Is World War III About to Begin? Can You Escape?
China, Its Biblical Past and Future, Part 1: Genesis and Chinese Characters Where did the Chinese people come from? This article provides information showing that the Chinese peoples must have known about various accounts in the Book of Genesis up until their dispersion after the Tower of Babel. Here is a link to a version of this article in Spanish: ¿Prueban los caracteres chinos la exactitud de la Biblia?
China, Its Biblical Past and Future, Part 2: The Sabbath and Some of God’s Witness in China When did Christianity first come to China? And is there early evidence that they observed the seventh day sabbath?
Asia in Prophecy What is Ahead for Asia? Who are the “Kings of the East”? What will happen to nearly all the Chinese, Russians, Indians, and others of Asia? China in prophecy, where? Who has the 200,000,000 man army related to Armageddon? A YouTube video of interest may be Is China THE Threat to the United States of America?
When Will the Great Tribulation Begin? 2015, 2016, or 2017? Can the Great Tribulation begin today? What happens before the Great Tribulation in the “beginning of sorrows”? What happens in the Great Tribulation and the Day of the Lord? Is this the time of the Gentiles? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord? Who are the 144,000? Here is a version of the article in the Spanish language: ¿Puede comenzar la Gran Tribulación en 2015? ¿Es el Tiempo de los Gentiles? You can also see the English language sermon video: The Great Tribulation from the Mount of Olives.
Wars, rumors of wars, and the Apocalypse Jesus foretold a time before the end where there would be wars and rumors of wars. The Apocalypse (the Book of Revelation) warns of the red horseman of war. Now, even secular writers, like Larry Edelson, are worried that wars and rumors of war are the most menacing problem that now haunts the earth? Are they right? What is the solution? This is a sermonette-length video.
Europa, the Beast, and Revelation Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about “the Beast”? Is an emerging European power “the daughter of Babylon”? What is ahead for Europe? Here is a link to a video titled: Can You Prove that the Beast to Come is European?
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, English, Scottish, Welsh, Australians, Anglo-Saxon (non-Dutch) Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? What will happen to Jerusalem and the Jews in Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo-Saxon nations? Why might God allow them to be punished first? Here is a link to the Spanish version of this article: Anglo-América & las Tribus Perdidas de Israel. Information is also in the YouTube sermons titled Where are the Ten Lost Tribes? Why does it matter? and British are the Covenant People. A short YouTube of prophetic interest may be Barack Obama and the State of the Apocalypse.
Will the Anglo-Saxon Nations be Divided and Have People Taken as Slaves? Will the lands of the United States, United Kingdom, Canada, Australia, and New Zealand be divided? What about Jerusalem? What does Bible prophecy teach? Are there non-biblical prophecies that support this idea? Who will divide those lands? Who will end up with the lands and the people? Here is a link to a video titled Will the USA and other Anglo-nations be Divided and Their People Made Slaves? Here is a related item in the Spanish language ¿Serán divididas las naciones anglosajonas?
The Gospel of the Kingdom of God was the Emphasis of Jesus and the Early Church Did you know that? Do you even know what the gospel of the kingdom is all about? You can also see a YouTube video sermon The Gospel of the Kingdom.
Barack Obama, Prophecy, and the Destruction of the United States-Second Edition for Second Obama Term This is a 160 page book for people truly interested in prophecies related to Barack Obama and the United States, including learning about many that have already been fulfilled (which the book documents in detail) and those that will be fulfilled in the future. It also has a chapter about a Republican choice. This book is available to order at www.barackobamaprophecy.com. The physical book can also be purchased at Amazon from the following link: Barack Obama, Prophecy, and the Destruction of the United States: Is Barack Obama Fulfilling Biblical, Islamic Catholic, Kenyan, and other America-Related Prophecies? What About Republican Leaders? Second Edition for Second Obama Term.
Barack Obama, Prophecy, and the Destruction of the United States-Second Term-Amazon Kindle edition. This electronic version is available for only US$2.99. And you do not need an actual Kindle device to read it. Why? Amazon will allow you to download it to almost any device: Please click HERE to download one of Amazon s Free Reader Apps. After you go to for your free Kindle reader and then go to Barack Obama, Prophecy, and the Destruction of the United States-Second Term-Amazon Kindle edition.