IMF US dollar substitute to be announced October 20, 2015?
Logo of the International Monetary Fund
The International Monetary Fund (IMF) uses a process of “Special Drawing Rights” (SDRs) in an attempt to stabilize currency values.
Some have claimed that a major change to how this is made up will be announced October 20, 2015:
First Look: U.S. Dollar Substitute to Go Public on Oct 20th?
05.23.2015 BY Kelly Brown, Stansberry Research
The International Monetary Fund is one of the most secretive and powerful organizations in the world.
They monitor the financial health of more than 185 countries… they establish global money rules… and provide “bail-out” assistance to bankrupt nations.
And on Oct 20th of this year, the IMF is expected to announce a reserve currency alternative to the U.S. dollar, which will send hundreds of billions of dollars moving around the world, literally overnight.
According to Juan Zarate, who helped implement financial sanctions while serving in George W. Bush’s Treasury department, “Once the [other currency] becomes an alternative to the dollar, rules of the game begin to change.”
And Leong Sing Chiong, Assistant Managing Director at a major central bank, said this dollar alternative “is likely to transform the financial landscape in the next 5-10 years.”
According to currency expert, Dr. Steve Sjuggerud (recently featured on CNBC, and Bloomberg),
“I’ve been active in the markets for over two decades now… but I’ve never seen anything that could move so much money, so quickly. Hundreds of billions of dollars could change hands in a single day after this announcement is made.”
“The announcement will start a domino effect, that will basically determine who in America gets rich in the years to come… and who struggles.”
Dr. Sjuggerud says if you own any U.S. assets—and that includes stocks, bonds, real estate, or just cash in a bank account–you should be aware of what’s about to happen, and know how to prepare.
Experts say this announcement, expected Oct. 20th, could trigger one of the most profound transfers of wealth in our lifetime. http://thecrux.com/dyncontent/imf-dollar-substitute/?cid=MKT035907&eid=MKT074257&utm_source=taboola&utm_medium=referral
Mark Down This Date: October 20, 2015
For the first time in 35 years, an upcoming announcement could start a new era in modern finance, and could create a once-in-a-lifetime moneymaking opportunity. Get in now…
Hi, my name is Dr. Steve Sjuggerud. …
On or around October 20th of this year, the International Monetary Fund is going to make a huge announcement that could radically alter the financial markets, and initiate a transfer of wealth, unlike anything we’ve seen in more than three decades.
We know the approximate date of this announcement because I recently accessed the IMF’s meeting schedule.
Like most official documents, it is filled with acronyms and insider jargon. http://republicbroadcasting.org/new-alternative-to-the-u-s-dollar-coming-oct-20th/
Now while the date and depth of any such announcement is NOT certain, and Stansberry Research is not always correct (watch also Alternative to the US Dollar in the Fall of 2015?), the reality is that the IMF is looking at making changes and does want to reduce the world’s dependence on the US dollar as the world’s reserve currency (some have pointed to a November announcement).
The IMF says its annual meeting will be in October 2015:
Annual Meetings of the World Bank Group and the International Monetary Fund
The 2015 Annual Meetings of the World Bank Group and the International Monetary Fund (IMF) will take place in Lima, Peru, in October 2015. The Annual Meetings bring together ministers of finance and central bank governors from the institutions’ 188 member countries, and provide a forum for civil society, the private sector, academics and others to engage in discussions on economic issues.
It is known that China wants its currency the renminbi yuan to be part of a ‘basket of currencies’ that will help push the USA dollar out of prominence. And the IMF is looking at the Chinese currency:
26 June 2015
BEIJING, June 26 (Xinhua) — The Chinese currency, the yuan, is poised to advance its status as a key international reserve currency as it is now a prime candidate for the IMF’s special drawing rights (SDR).
In a display of support, IMF chief Christine Lagarde said in March that the yuan’s inclusion in the SDR basket is “not a matter of if, but when” — this year or in 2020, when the IMF will again review the SDR basket.
Given the yuan’s greater role in the international monetary system, recent achievements as well as potential for future development, there is no reason to put it off.
The SDR was created in the 1960s as an international reserve asset that IMF members can claim in times of need. Currently, there are only four currencies in the SDR basket, the U.S. dollar, the euro, the British pound and the Japanese yen.
The IMF rejected the yuan in 2010 on the grounds that the currency was not “freely usable.” Since then, China has stepped up efforts to increase the currency’s global acceptance by allowing overseas investors to trade Shanghai-listed yuan-denominated shares, giving overseas funds expanded access to Chinese stocks and bonds, creating bilateral currency swaps and expanding trade settlement in the currency.
As a result, global use of the yuan has been on the rise. http://news.xinhuanet.com/english/2015-06/26/c_134359599.htm
China Seen Winning IMF Reserve-Currency Endorsement in 2015
June 26, 2015
China’s goal to attain endorsement of the yuan as a reserve currency will be achieved this year, according to most economists surveyed by Bloomberg.
Eleven out of 16 polled by Bloomberg in the June 18-24 period predict the International Monetary Fund will add the Chinese currency to its Special Drawing Rights basket at a review in 2015. The Washington-based institution rejected the yuan in 2010 on the grounds it was not “freely usable.”
Global yuan adoption is on the rise as China gradually opens up its domestic capital market to foreign investors and expands a network of lenders that clears trades in the unit. The yuan, officially called renminbi, overtook the euro in 2013 as the world’s second-most used in trade finance and was the fifth most-popular for global payments in May, according to the Society for Worldwide Interbank Financial Telecommunications.
“We expect that the IMF will finally accept renminbi as the renminbi has been widely used as a settlement currency for both trade and foreign direct investment,” said Le Xia, a Hong Kong-based economist at Banco Bilbao Vizcaya Argentaria SA.
Joining the ranks of the dollar, euro, pound and yen in the IMF’s reserve-currency basket could lead to $1 trillion of inflows into yuan assets, BlackRock Inc. estimated this week. Inclusion would also allow China to challenge the greenback’s dominance in global trade and finance. http://www.bloomberg.com/news/articles/2015-06-26/china-seen-winning-reserve-currency-endorsement-in-imf-s-review
Before getting to my main points, here is some technical information:
2 May 2013
Formed in 1945, the IMF is a relic of the Bretton Woods days of fixed exchange rates. Following World War II, leading economists of the world attended a conference in Bretton Woods, New Hampshire. Discussions surrounded two topics: how to stabilize exchange rates around the world, and how to reconstruct an international payments system in the wake of the War.
It was eventually decided that a system of fixed exchange rates would be implemented, using the U.S. dollar as an anchor. This was problematic in and of itself…
Through a special quota system, which today exists as IMF special drawing rights (SDR), a country could temporarily borrow money from the fund in order to fund its trade imbalances.
Unfortunately, the effect of this was to make trade imbalances even worse. As countries knew that there was an easy way out through the IMF, large government budget deficits resulted, which had the effect of making trade deficits even greater than they otherwise would be.
Here again the IMF came to the rescue. When these imbalances proved too great for even it to handle, it performed an action that the market would have naturally done. The IMF selected a new exchange rate. http://www.troymedia.com/2013/05/02/the-imfs-search-for-relevance/
May 4, 2013
The International Monetary Fund (IMF), treasuries’ department’s currency values in terms of Special Drawing Rights (SDR)…The value of the US dollar in terms of the SDR is the recip rocal of the sum of the dollar values, based on market exchange rates, of specified quantities of the first four currencies shown…
The value in terms of the SDR of each of the other currencies shown above is derived from that currency’s representative exchange rate against the US dollar as reported by the issuing central bank and the SDR value of the US dollar…http://www.brecorder.com/market-data/rates-a-schedules/118/1182594/
Although it was originally based a lot on the US dollar (and still does so), the plan, according to some is to use SDRs to essentially replace the US dollar as the world’s reserve currency:
February 13, 2013
Killing the Dollar: G20 & IMF Push for Global Fed, Global Currency
While headline stories about averting the dangers of an international “currency war” dominated news coverage of the recently concluded G20 meeting in Moscow, the real unreported story is that the global gathering of central bankers and finance ministers is pushing forward with their plan for “supersizing” the International Monetary Fund. The end goal is to transform the IMF into a global Federal Reserve, with the ability to flood the world with huge new volumes of loans and currency. It would also wield vast financial regulatory powers.
The IMF’s unit of account, or “currency,” known as a Special Drawing Right (SDR), is being readied for eventual adoption as the replacement for the U.S. dollar in international transactions, to lead the way toward eventual adoption of the SDR or some other designated unit as the global currency, much in the same way that the euro was foisted upon the people of Europe as a replacement of their national currencies. http://www.thenewamerican.com/economy/economics/item/14579-killing-the-dollar-g20-imf-push-for-global-fed-global-currency
Notice something I wrote about the US dollar in my book Barack Obama, Prophecy, and the Destruction of the United States-Second Edition for Second Obama Term:
When the U.S. dollar totally collapses people all around the world will consider that even if the Euro (or something similar) is strong, having a more gold-backed currency would be safer. The collapse of the U.S.A. dollar will shake a lot of the world’s confidence in non-gold backed currencies.
Having the European power acquiring a lot more gold to back the Euro (even if the backing is only implied) or possibly other future European currency (that might potentially replace the Euro or even a basket of currencies) may greatly increase European credibility, prosperity, and influence around the globe (and will happen, to a degree, before that King arises).
The financial policies of the Obama Administration (which are a massive acceleration of the previous policies of the Bush Administration) are heading the world into the direction that something other than the U.S. dollar will be valued as its reserve currency. (Thiel B. Barack Obama, Prophecy, and the Destruction of the United States-Second Edition for Second Obama Term. Nazarene Books, 2013, p. 133)
Many leaders of the world are trying to move away from the US dollar as the world’s reserve currency. And lest seem to be considered a new position by me, these type of warnings were also in a book I wrote in 2009 (2012 and the Rise of the Secret Sect)–and this is coming to pass. Back in 2012, the head of the IMF warned that the USA is on a “fiscal cliff” (Cooper R. IMF chief Lagarde highlights perils of US fiscal cliff. The Telegraph, September 9, 2012 http://www.telegraph.co.uk/finance/financialcrisis/9532222/IMF-chief-Lagarde-highlights-perils-of-US-fiscal-cliff.html).
Notice something else about the IMF and the US dollar:
12/17/14
In articles over the past year, I have warned that the plan to dethrone the dollar and replace it with the special drawing rights basket currency system would be accelerated after it became clear that the U.S. Congress would refuse to pass the IMF reforms of 2010 proclaiming “inclusiveness” for developing economies, including the BRICS nations. The latest spending bill removed any mention of IMF reforms. The IMF, under Christine Lagarde, has insisted that if the U.S. did not approve its part of the reforms, the IMF would be forced to pursue a “Plan B” scenario. The details on this “plan B” have not been forthcoming, until now.
The Financial Times reported on the IMF shift away from the U.S. by asserting the authority to remove the veto power America has always enjoyed over the institution. This action is a stark reminder to mainstream talking heads and to those who believe the U.S. is the core economic danger to the world that the IMF is NOT an extension of American policy. http://www.zerohedge.com/news/2014-12-17/imf-now-ready-slam-door-us-and-dollar
1/4/15
Lagarde says the IMF will have to discuss “alternative options” at its executive board meeting next month. This implies the IMF will make the changes even without the support of the US.
The reforms are important for Asia as their purpose is to give China, along with other Asian and emerging market countries, a bigger say in the IMF’s affairs.
::
…China has long advocated less reliance on a single reserve currency – the US dollar – and a move towards a reserve system based on a basket of currencies. http://www.quora.com/How-much-longer-will-the-US-dollar-be-the-reserve-currency-of-the-world
The IMF does NOT want the USA to have the amount of control and influence it has had. It is trying to take steps to minimize the influence of the USA.
Residents of the USA generally have no idea how much their lifestyles have been greatly financed by debt and the fact that the USA dollar is the world’s primary reserve currency. Even most of the leaders do not realize it nor care what the outcome will be. But they should.
Notice the following prophecy which mentions that this destruction will happen to those that increased their debt at the end times:
3 For the vision is yet for an appointed time; But at the end it will speak, and it will not lie. Though it tarries, wait for it; Because it will surely come, It will not tarry…5 Indeed, because he transgresses by wine, He is a proud man… 6 “Will not all these take up a proverb against him, And a taunting riddle against him, and say, ‘Woe to him who increases What is not his–how long? And to him who loads himself with many pledges’? 7 Will not your creditors rise up suddenly? Will they not awaken who oppress you? And you will become their booty. 8 Because you have plundered many nations, All the remnant of the people shall plunder you. Because of men’s blood And the violence of the land and the city, And of all who dwell in it. (Habakkuk 2:3,5,6-8).
9 “Woe to him who covets evil gain for his house, That he may set his nest on high, That he may be delivered from the power of disaster! 10 You give shameful counsel to your house, Cutting off many peoples, And sin against your soul. 11 For the stone will cry out from the wall, And the beam from the timbers will answer it. (Habakkuk 2:9-11)
The above prophecy will be fulfilled at the time of the end (cf. “The message was true, but the appointed time was long…in the latter days, for the vision refers to many days yet to come”, Daniel 10:1,14). Daniel 8:19, 11:27,29,35 use same the Hebrew term for “appointed time” as Habakkuk 2:3, while Daniel 10, using a different term, ties the latter days to the time in Daniel 8:19. Habakkuk 2 was not fulfilled in its entirety anciently. Also, it makes little sense that Habakkuk would be directed towards the modern nation of Israel as it does not have enemy creditors. It must be a nation or group of nations with some prominence at the appointed time of the end. As far as “violence of the land” as a contributing factor, this would seem to include crime, military missions, and perhaps riots/civil unrest, but might it also include promotion of violent sports? Is the USA government not giving shameful counsel regarding matters such as homosexuality and abortion?
Sudden destruction will occur among those who are spiritually drunk:
3 For when they say, “Peace and safety!” then sudden destruction comes upon them, as labor pains upon a pregnant woman. And they shall not escape. 4 But you, brethren, are not in darkness, so that this Day should overtake you as a thief. 5 You are all sons of light and sons of the day. We are not of the night nor of darkness. 6 Therefore let us not sleep, as others do, but let us watch and be sober. 7 For those who sleep, sleep at night, and those who get drunk are drunk at night. (1 Thessalonians 5:3-7)
8… A plunderer at noonday; I will cause anguish and terror to fall on them suddenly…
13 Your wealth and your treasures
I will give as plunder without price,
Because of all your sins,
Throughout your territories.
14 And I will make you cross over with your enemies
Into a land which you do not know;
For a fire is kindled in My anger,
Which shall burn upon you.” (Jeremiah 15:8;13-14)
Notice that both Paul and Habakkuk seem to have tied drunkenness in with this sudden calamity (so did Jesus in Luke 21:34-35). Truly the Anglo-nations are not spiritually sober.
Notice how Ezekiel’s writings confirm that those who made profits improper will be punished:
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. (Ezekiel 22:13-15)
Borrowing money that will not be paid back is a “dishonest profit” which the American and British peoples have been living on for the past several years (as is the “quantitative easing” programs for the US Federal Reserve
The current world order dominated by the USA, and formerly by the UK is being changed. Despite concerns about the Euro and Greece, a power in Europe will control much of the world’s economies for a while–and some of the steps for this to occur have already happened. And eventually, after massive devastation (the Great Tribulation and the Day of the Lord), Jesus will return and establish His kingdom.
China is affecting all of this.
Does that mean that the US dollar will no longer be a major world reserve currency after October 20, 2015?
No, for a time, years in fact, the US dollar will be used in international trade. Yet, the mechanisms to attempt to push it out are getting into place, and it is likely that at least something related to that will occur in the Fall 2015.
Although ‘the end is not yet’ (Matthew 24:6), we are nearer than we first believed (cf. Romans 13:11).
The USA, and certain other nations, are on a slippery slope–its debts will lead to disaster and destruction. The apparent IMF-related plans will not end up well for the USA or its Anglo-descended allies.
For some items of possibly related interest, please check out the following:
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”? What is ahead for Europe?
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?
British are the Covenant People What do ‘British’ and ‘Britain’ mean in Hebrew? Are the descendants of the Anglo-Saxons people of the covenant? Does the British royal family connect to the throne of David? What does the Bible teach? What does history show us? Is there any DNA evidence related to British-Israelism? When did Christianity make it to the British Isles? Could Jeremiah have made it to the British Isles? What type of Christians made it to the British Isles? Did the last King of England believe in British Israelism?
Canada in Prophecy: What Does Bible Prophecy, Catholic Prophecy, and other Predictions Suggest About the Future of Canada? There are prophecies that suggest involvement with Canada. And many are not positive about its future.
Who is the King of the West? Why is there no End-Time King of the West in Bible Prophecy? Is the United States the King of the West?
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.
Just What Do You Mean the Kingdom of God? A booklet that was written by Herbert Armstrong answers questions about the Kingdom.
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?
Does God Have a 6,000 Year Plan? What Year Does the 6,000 Years End? Was a 6000 year time allowed for humans to rule followed by a literal thousand year reign of Christ on Earth taught by the early Christians? Does God have 7,000 year plan? What year may the six thousand years of human rule end? When will Jesus return? 2022 or 20xx? There is also a video titled The 6000 Year Plan: Is the end of humanity’s reign almost up? Here is a link to the article in Spanish: ¿Tiene Dios un plan de 6,000 años?
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 2014 o 2015? ¿Es el Tiempo de los Gentiles? You can also see the English language sermon video: The Great Tribulation from the Mount of Olives.
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?
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.
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