Quit the IMF

The IMF wouldn’t exist without the $ 100 billion Obama promised as a gift from US taxpayers.  The IMF is on the ropes over European sovereign debt defaults.  The IMF is threatening the US Dollar like North Korea demands extortion. The IMF deserves to be severed from US sponsorship. Like the UN, the IMF would collapse.

- Norb Leahy.  See below:

 

The IMF Threatens to Kill the U.S. Dollar by Damon Geller

 

According to Bloomberg and other sources, the International Monetary Fund is expected to announce a reserve currency alternative to the U.S. dollar on October 20^th of this year, which experts say will send hundreds of billions of dollars moving around the world, literally overnight.  

 

This announcement is expected to trigger one of the most profound transfers of wealth in our lifetime.  Bloomberg reports that this decision comes on the heels of China pushing for their own currency to be elevated to reserve currency status.  So if you want to protect your savings & retirement, you better get your money out of U.S. dollar investments and into the one asset class that rises as currencies collapse.

 

The IMF Holds Supreme Power

The International Monetary Fund, or IMF, 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.  Some are warning that any move by the IMF to supplant the U.S. dollar could be catastrophic to American investments.

 

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.”

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.”

 

Currency expert Dr. Steve Sjuggerud warned, “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. “paper” assets—and that includes stocks, bonds, or just cash in a bank account–you should be aware of what’s about to happen and know how to prepare.  A number of experts believe the recent spike in gold and silver prices is a direct result of the IMF’s action.  Precious metals notoriously rise when the U.S. dollar falls.

 

The Death of the U.S. Dollar in One Frightening Graph

For the last 600 years, there have been six different global reserve currencies controlled by world superpowers. The latest – the U.S. dollar – has dominated world currency for over 80 years. The alarming fact is, global reserve currencies have collapsed every 80-90 years for the last six centuries! What does this mean for America and the dominance of the U.S. dollar? Based on recent evidence and long-standing historical trends, experts predict the imminent collapse of the U.S. dollar! What’s more alarming? Many Americans aren’t yet doing the one thing that will save their savings & retirement from U.S. dollar collapse.

 

Just take a look at the graph below. It shows the lifespan of dominant currencies going back 600 years. Notice that the U.S. dollar has now been the dominant currency for 88 years, about the same length of time as its predecessors:

It’s obvious why experts say that the U.S. dollar’s days as the world’s reserve currency are coming to a climactic end.

 

All Fiat Currencies Collapse

“Fiat” currency is paper currency backed by nothing tangible. As opposed to “sound money” which is was backed by gold or some other valuable commodity, a fiat currency is backed by nothing more than faith in the government. The U.S. dollar has been a fiat currency since Nixon closed the gold window in 1971 in what was the greatest heist in American history. The scary fact is, the average life span of a fiat currency is 40 years, and the U.S. dollar has now exceeded 40 years as a fiat currency!

 

Prior to 1933 and for well over 100 years, the dollar was backed by gold, and $20 bought you an ounce of gold. But after the government stole all U.S. citizens’ gold in 1933 for a $20 paper certificate, gold was revalued at $35 U.S.D., meaning the dollar was devalued by 43% overnight and all foreign and domestic holders of dollars were effectively robbed.

 

After Nixon closed the gold window completely in 1971, it took $67 to buy an ounce of gold, devaluing the U.S. dollar by 50% again. Today, it takes well over a thousand U.S. dollars to buy that same ounce of gold. Why? Because the U.S. dollar is now nothing more than a fast-declining Federal Reserve note backed by a corrupt government that is saddled with $18 trillion in unpayable debt — growing by $10 million per minute!

 

See charts at: https://www.wholesaledirectmetals.com/the-imf-threatens-to-kill-the-u-s-dollar/

 

Comments

 

Government overspending and money printing is the reason for inflation.  If we can get them to stop, we can reverse this disaster.  If we can get the US Congress to operate within the confines of the US Constitution without deficits a lot of things would improve.  A $500 billion cut in federal spending would be a good start.  Obama gives away more than that every year to our enemies.

 

Norb Leahy, Dunwoody GA Tea Party Leader