Could IMF Trigger a Collapse of the Dollar? by Mike Burnick,
11/19/15, Money and Markets
In a widely anticipated event, the International Monetary
Fund (IMF) is expected to soon bless China's currency, the yuan, with official
reserve currency status.
This month, the IMF is likely to include the yuan in the
select group of global currencies included in its Special Drawing Right (SDR)
basket, joining the dollar, euro, yen and the pound.
Source: Money and Markets: A Division of Weiss Research,
Inc.
IMF
Funding Sources
The 187
member nations of the IMF are its biggest source of funds. Each country has to
subscribe to the Fund's capital when it becomes a member. The subscription,
also called quota, depends on the country's size in the world economy.
The members pay 25% of their quota in special drawing rights or major currencies, such as the US dollar, euro, pound sterling, or the yen. The balance 75% can be paid in own currency. The size of quota subscriptions is $767 billion. In addition, the IMF holds nearly 2,814 tonnes of gold that it can sell. However, it is prohibited from buying gold. Each country has to subscribe to the Fund's capital when it becomes a member. The subscription, also called quota, depends on the country's size in the world economy.
http://economictimes.indiatimes.com/europe-debt-crisis-who-funds-imf-bailout-for-euro-zone/what-is-source-of-imf-funds/slideshow/10665063.cms
The members pay 25% of their quota in special drawing rights or major currencies, such as the US dollar, euro, pound sterling, or the yen. The balance 75% can be paid in own currency. The size of quota subscriptions is $767 billion. In addition, the IMF holds nearly 2,814 tonnes of gold that it can sell. However, it is prohibited from buying gold. Each country has to subscribe to the Fund's capital when it becomes a member. The subscription, also called quota, depends on the country's size in the world economy.
http://economictimes.indiatimes.com/europe-debt-crisis-who-funds-imf-bailout-for-euro-zone/what-is-source-of-imf-funds/slideshow/10665063.cms
The IMF
Quota for the United States is $42 billion a year.
Comments
The US
dollar has been used as the world’s reserve currency since 1944. Oil has been sold using US dollars since then
because the US dollar has been stable until now and Saudi Arabia agrees.
US
government debt and unfunded liabilities have rendered the US insolvent. This has
put the dollar’s reserve currency status in jeopardy.
The IMF
is a creature of the UN and the global internationalists who are presently
attempting to establish the UN as the global government using UN Agenda 21 as
the plan.
Norb
Leahy, Dunwoody GA Tea Party Leader
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