Rise of Satanism

Another sign of 'America's fall from God', Christian leaders speak out against open blasphemy, devil worship, 9/30/16, WND

Elementary schools forced by the government to allow "Satan Clubs" on school grounds. Statues of Baphomet are erected in major American cities. And a national headquarters for the "Satanic Temple" in Salem, Massachusetts, famous for its "witch trials" during colonial times.

Has America gone to the devil? Christian leaders are speaking out and they are reluctantly saying it has.

Karl Payne, pastor of leadership development at Antioch Bible Church and the former chaplain of the NFL's Seattle Seahawks, said the rise of devil worship is an ominous development.

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"Historian Arnold Toynbee famously declared countries crumble from within," he said. "I believe we are nearing the end of that same course in our country that once represented a light of hope and freedom to the world."

Payne, the author of "Spiritual Warfare: Christians, Demonization and Deliverance," said America is no longer a Christian nation. And Christians need to wake up.

"For a country and people who have historically valued life more than death, truth more than deception and the rule of law and common sense more than tyranny or hedonism, the rise of Satanism probably comes as a shock," counseled Payne. "But for those who have watched the promotion of occultism, spiritism, demonism and hedonism in the media in the name of 'pluralism' are not surprised. It is simply more evidence of our culture's fascination with narcissism, death and rejection of common sense."

Of course, the Satanic Temple says it does not literally worship the devil. Instead, Satan and demonic imagery are used as a "formidable weapon to fight for separation of church and state."

However, Jonathan Cahn, the bestselling author of "The Harbinger" and the new blockbuster "The Book of Mysteries," said the use of this kind of imagery is not innocent.

"It is yet another manifestation of America's fall from God," he told WND. "It is no accident that we are seeing more and more displays of Satan in America's public life. This is an unprecedented development in American history. This could not have taken place in earlier days. And it's no accident that this is happening in the same America that is increasingly removing any display concerning God or faith from the same public square."

Rabbi Cahn argued no society can simply become "secular." Instead, as a society declines, it calls what was once evil good and good evil. The result is nothing less than a total societal transformation.

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"It is another sign of the increasingly powerful position and brazen stance of evil, immorality, ungodliness and anti-Christianity in the new America," Cahn thundered. "That which in former days existed only in the shadows and in the periphery of American culture is now in the spotlight and center stage and seeks to drive that which was formerly in the spotlight and center stage of American culture to the periphery and into the shadows."

And Cahn warns it won't stop there.

"In the judgment template of 'The Harbinger,' when ancient Israel turned away from God, it turned to the god Baal. One of the names of Baal was 'Baal Zevuv,' or 'Lord of the Flies.' When that Hebrew name was translated into Greek and then English, it became 'Beelzebub' the name of Satan. So it is no accident that we are now seeing in America the same thing. When one drives God out of one's life, when a nation drives God out of its national life it opens the door to the devil."

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Carl Gallups, a pastor and author of the new book "When the Lion Roars: Understanding the Implications of Ancient Prophecies for Our Time," long has warned Christians are going to be "targeted" for persecution. And he noted acidly the Satanic Temple is targeting school districts that host Christian after-school programs.

Gallups says there is a link between the increasing secularism of American culture and the rise of demonic activity.

"As the culture of the United States, the largest Christian nation the planet has ever known, becomes increasingly secular, and as much of America's church slips progressively into apostasy, the intensity of demonic activity will only increase," said Gallups. "This is not only a biblical prediction, but also a current reality that, with growing frequency, is reported upon practically every week."

According to exorcists, there is unprecedented demand for services in expelling demons. Pastor Gallups argues this reported increase in demonic activity and the growing acceptance of Satanic imagery is nothing less than a sign of the last days.

"There can be no doubt that the Word of God speaks of a demonic outpouring occurring in the days just before the return of the Lord," he said. "The implication of those prophecies is that the deluge will be on a global scale. Although we have always had the influence and impact of the demonic realm to deal with, never before has that sphere of existence had such a platform from which to manifest itself and to so boldly proclaim its seductive message. The intense focus given to this 'Satanic Temple' is just another example.

"But even this group is just a symptom and a sign. The problem is that man's sinful nature is running amok, and this is now being celebrated. The world continually acquiesces to the growing evil and abject mockery of God's Word that now surrounds it."

Besides serving as a pastor and chaplain, Payne is also an experienced exorcist who has personally helped believers suffering from demonic attack. He also stated the growing acceptance of demonic symbolism is a dangerous sign for the future.

"These events have end times significance," he told WND. "This world is ripe for the acceptance and ascension of a Satanically inspired global leader who will promise peace and freedom while he systematically eliminates all who disagree with him. A temple honoring Satan is just one more step towards that end."

Take the first step on a journey which will transform your life. The keys to spiritual knowledge are presented as you embark on an incredible yearlong quest in "The Book of Mysteries," the latest can’t miss book by messianic rabbi Jonathan Cahn. Available now at the WND Superstore.

 http://wec.wnd.com/read/archive?id=363049&mid=2954621&e=ntl%40mindspring%2ecom&x=13645190

Quit the UN

UN Decrees United States Owes Blacks Reparations for Slavery

The human rights abusers of the United Nations are demanding that the United States of America give African Americans reparations for slavery. The group’s statement came via a report earlier this week.

The group report was referencing a larger study by the United Nations working group of experts on people of African descent. This group is responsible for reporting to the international organization’s High Commissioner on Human Rights.

This group of experts is made up of the top human rights lawyers in the world. The group presented its findings about the link they feel is present between the United States’ history of slavery and falsely alleged injustices that are occurring now. The most recent police shootings of African Americans was primarily the premise for their findings.

“In particular, the legacy of colonial history, enslavement, racial subordination and segregation, racial terrorism and racial inequality in the United States remains a serious challenge, as there has been no real commitment to reparations and to truth and reconciliation for people of African descent,” the report stated. “Contemporary police killings and the trauma that they create are reminiscent of the past racial terror of lynching.”

The panel stated that the police shootings of African Americans over the past year have caused a “human rights crisis” that urgently needs to be addressed. They see a direct correlation to these present day shootings and the acts of lynchings that occurred by white supremacists in the late 1800’s.

The group said the reparations could be delivered in a variety of forms, such as “a formal apology, health initiatives, educational opportunities, psychological rehabilitation, technology transfer and financial support, and debt cancellation.”

Ricardo A. Sunga, one of the panel members who was asked about the presidential race in the United States and how that may be promoting further white supremacy actions, talked about “hate speech … xenophobia and Afrophobia” prevalent in the race, but did not call out any candidates by name.

The reparations have little backing on any change that would be forced upon the United States. The group’s recommendations are non-binding and unlikely to influence policy in the United States.

http://conservativeamerica-online.com/united-nations-saying-the-united-states-owes-reparations-for-black-slaves/

Internet Giveaway Treason

State AGs fight to stop Internet surrender at 11th hour but fail, By Robert Romano

Update: The federal district court has sided with the Commerce Department and refused to issue the injunction, paving the way for the transfer of U.S. oversight of the Internet at midnight.

There is one last chance to stop the end of U.S. oversight of the Internet’s domain name system.

Congress has already lost this battle after Republican majorities failed to include language blocking the transfer of the Internet Assigned Numbers Authority (IANA) functions in the continuing resolution funding the federal government.The transfer had been defunded the past two fiscal years, but no more.

So now, with just hours left before the Commerce Department contract with the Internet Corporation for Assigned Names and Numbers (ICANN) on Oct. 1, four state attorneys general led by Arizona Attorney General Mark Brnovich are now suing the government over the transition in the U.S. District Court in the Southern District of Texas, Galveston division, arguing the transfer is an illegal transfer of government property without a vote of Congress.

Federal District Judge George Hanks, Jr. has ordered a hearing at 1:30 p.m. central time after denying a motion by the plaintiffs to do a hearing via phone.

The case boils down to Article 4, Section 3 of the U.S. Constitution, which states that only “The Congress shall have power to dispose of … property belonging to the United States.” The current October 1, 2012 NTIA contract with ICANN explicitly states that “All deliverables under this contract become the property of the U.S. Government.”

Deliverables under the contract include “technical requirements for each corresponding IANA function,” “performance standards in collaboration with all interested and affected parties … for each of the IANA functions,” and “a fully automated root zone management system … [that] must, at a minimum, include a secure (encrypted) system for customer communications; an automated provisioning protocol allowing customers to manage their interactions with the root zone management system; an online database of change requests and subsequent actions whereby each customer can see a record of their historic requests and maintain visibility into the progress of their current requests; and a test system, which customers can use to meet the technical requirements for a change request; an internal interface for secure communications between the IANA Functions Operator; the Administrator, and the Root Zone Maintainer,” among other items.

Further, ICANN collects annual revenues of more than $100 million a year, making it property of real value.

In addition, the IANA itself reverts to the Commerce Department upon termination of the contract: “the Government may terminate the contract for default.” The contract even provides for the possibility of IANA being performed by another entity: “In the event the Government selects a successor contractor, the Contractor shall have a plan in place for transitioning each of the IANA functions to ensure an orderly transition while maintaining continuity and security of operations.” These provisions further indicate that upon conclusion of the contract on Sept. 30, 2016, the Commerce Department remains in possession of the IANA functions, and nothing which states ICANN does.

It therefore follows that NTIA cannot perform the transfer of the IANA functions to ICANN without a vote in Congress, or some other authorizing statute, for example, 40. U.S.C., Chapter 5, Subchapter III, “Disposing of property.” Under that statute, the disadvantage to NTIA and ICANN would be that the IANA functions would have to come up for competitive bid as provided in 40 U.S.C. 545 (a).

Or if a negotiated sale as provided in 40 U.S.C. 545 (d)(1), it would have to done at “fair market value”: “the sale must be publicized to an extent consistent with the value and nature of the property involved and the price established must reflect the estimated fair market value of the property.” 

Since this is an entity that does more than $100 million a year of revenue, the fair market value of the IANA functions — we’re talking about a global monopoly for allocation of an unlimited number of IP addresses, domain names, and top-level domain names — it should be worth billions!

Or, if disposal through a contract broker as provided in 40 U.S.C. 545 (c), “wide public notice of the availability of the property for disposal” would be required: “Disposals and contracts for disposal of surplus real and related personal property through contract realty brokers employed by the Administrator shall be made in the manner followed in similar commercial transactions under regulations the Administrator prescribes. The regulations must require that brokers give wide public notice of the availability of the property for disposal.” Yet, no such notice has been given.

The disposal of such property to a private interest would also invoke antitrust. 40 U.S.C. 559 (b)(1) states: “An executive agency shall not dispose of property to a private interest until the agency has received the advice of the Attorney General on whether the disposal to a private interest would tend to create or maintain a situation inconsistent with antitrust law.”

We also now know via Freedom of Information Act requests by Americans for Limited Government that the NTIA has not sought the Attorney General’s advice the disposal of property to a private interest prior to the March 2014 announcement. That is a huge liability for ICANN, and potentially for anyone involved at the agency if the provision of the contract stating “All deliverables under this contract become the property of the U.S. Government” was deliberately ignored. Was this a conspiracy to get around antitrust?

Leaving that aside — antitrust is not cited in the state attorneys general case, but it is likely to come up later by private actors looking to compete with ICANN — there certainly are some outstanding legal questions for the federal courts to feel out.

In addition, the state attorneys general argue that the original contract with ICANN created designated public forum under the First Amendment for the entire Internet, and that in ending the contract and giving that forum to a private entity without strict guidelines for continuing that level of protection a First Amendment violation has occurred. It’s a novel argument.

Did the government contract with ICANN make the Internet into a public forum with First Amendment protections?

Americans for Limited Government has argued in the past that the government contract has meant no changes to the root zone file could be approved by the Department of Commerce if they would result in censorship or otherwise violate the First Amendment. In other words, there are definite limits to any content restrictions imposed by ICANN whilst under government contract. It also therefore follows that the Internet itself becomes a public forum in that range of protection.

Besides that, the attorneys general argue that the transition violates the Administrative Procedures Act, and would result in potential irreparable harm to domains operated by the federal and state governments if ICANN were to suddenly start messing with government top level domains.

For remedy, the states are requesting the federal courts to enjoin the transition and instruct the Commerce Department to renew the current contract.

In the least, a preliminary injunction and temporary extension of the contract would be warranted, Americans for Limited Government President Rick Manning noted in a statement: “The court has to issue a restraining order against the transition, as moving ahead has been deemed to be irreversible, with no way to undo harms done to the plaintiffs and the American people. The First Amendment protections afforded by government the contract must not be cast away so lightly. A private actor like ICANN does not have to honor the freedom of expression the way the federal government does. That should be taken into account.”

We’ll know by midnight if the federal district court in Texas agreed to slow down the Internet surrender enough to hear these issues out. Fingers crossed.

Robert Romano is the senior editor of Americans for Limited Government.

http://netrightdaily.com/2016/09/state-ags-fight-stop-internet-surrender-11th-hour/

Internet Treason Battle

Hours left before Obama's Internet giveaway 'irreversible', Time expiring for opponents of one world strategy for Net by Bob Unruh 9/29/16

Sen. Ted Cruz has posted online a countdown clock that reveals there’s just hours left before the U.S. gives away the Internet in a move critics have warned is “irreversible.”

It was the late Phyllis Schlafly who, earlier this year, characterized President Obama’s plan to give away U.S. oversight of the Internet’s domain name system as “like telling the fox to guard the chicken coop,” trusting the likes of Cuba, Venezuela and China to ensure the continued freedom of the Web.

The transfer of oversight to an obscure non-profit called the Internet Association for Assigned Names and Numbers, ICANN, set for Saturday, “could be the most dangerous use yet of Obama’s now-famous pen,” the conservative icon said at the time.

On Thursday, after months of Congress failing to halt Obama’s move, four states took action on their own. The lawsuit by Arizona, Texas, Oklahoma and Nevada against the National Telecommunications and Information Administration, the Department of Commerce and others seeks a halt to the plan.

Filed in U.S. District Court in Galveston, Texas, the lawsuit argues the U.S. funded the foundations of the Internet and for decades has been managing it appropriately, including through contracts such as the NTIA’s agreement with ICANN to perform Internet Assigned Numbers Authority functions. But that contract is expiring Friday, and Obama’s plan is to give up that authority to ICANN.

The lawsuit isn’t the only opposition that has arisen in the fourth quarter. A coalition of 77 national security, cybersecurity and industry leaders wrote a letter to Defense Secretary Ash Carter and Gen. Joseph Dunford, the chairman of the Joint Chiefs of Staff, just days ago asking for intervention.

David Limbaugh’s book chillingly documents the destructive “transformation” of the United States — get “The Great Destroyer: Barack Obama’s War on the Republic” “As individuals with extensive, first-hand experience with protecting our national security, we write to urge you to intervene in opposition to an imminent action that would, in our judgment, cause profound and irreversible damage to the United States’ vital interests,” the letter said.

“Indeed, there is, to our knowledge, no compelling reason for exposing the national security to such a risk by transferring our remaining control of the Internet in this way at this time. In light of the looming deadline, we feel compelled to urge you to impress upon President Obama that the contract between NTIA and ICANN cannot be safely terminated at this point.”

The signers included former Assistant Secretary of Defense Frank Gaffney Jr., former Deputy Under Secretary of Defense for Intelligence Lt. Gen. William “Jerry” Boykin (Ret.), former Senate Minority Whip Jon Kyl, former Director of the Defense Nuclear Agency Vice Adm. Robert Monroe (Ret.) and former Chief Assistant U.S. Attorney for the Southern District of New York Andrew McCarthy, among others.

They warned: “In the absence of U.S. government involvement in IANA, it seems possible that, over time, foreign powers – including potentially or actually hostile ones – will be able to influence the IANA process. Even coercing the delay in approving IP addresses could impact military capabilities. From a broader view, given the well-documented ambition of these actors to restrict freedom of expression and/or entrepreneurial activity on the Internet, such a transfer of authority to ICANN could have far-reaching and undesirable consequences for untold numbers of people worldwide.”

Just a few days earlier, GOP senators, including Chuck Grassley, Ted Crux, Roy Blunt, Richard Burr and Ron Johnson, released a statement opposing the giveaway. “It is profoundly disappointing that the Obama administration has decided to press on with its plan to relinquish United States oversight of crucial Internet functions, even though Congress has not given its approval. For years, there has been a bipartisan understanding that the ICANN transition is premature and that critical questions remain unanswered about the influence of authoritarian regimes in Internet governance, the protection of free speech, the effect on national security, and impacts on consumers, just to name a few,” they said.

“Without adequate answers to these questions, it would be irresponsible to allow the transition to occur in 15 days simply because of an artificial deadline set by the Obama administration.

“In fact, Democrats at both the state and national level have echoed many of these concerns. For example, former President Bill Clinton has warned that ‘[a] lot of people who have been trying to take this authority away from the U.S. want to do it for the sole purpose of cracking down on Internet freedom and limiting it and having governments protect their backsides instead of empower[ing] their people.’ “The issue of Internet freedom should unite us Americans – Republicans, Democrats and independents alike.

Partisanship and political gamesmanship have no place when it comes to the Internet, basic principles of freedom, and the right of individuals in our great nation and across the globe to speak online free from censorship.”

In the lawsuit, the states warn that .gov addresses are at risk. “The NTIA currently has the authority to authorize changes performed by ICANN. Should NTIA fail to renew the contract and relinquish its approval authority, ICANN could take unilateral actions adversely affecting the .gov address. The sole control that the U.S. government would have to safeguard .gov and .mil is through an exchange of letters, which are non-binding and lack the certainty of a legal contract that would guarantee U.S. control and ownership in the future.”

ICANN could, for example, the letter noted, “eventually delete the .gov top-level domain name or transfer it to some other entity, cutting off communications between the states and their citizens and forcing the states to use ordinary top-level domain names (such as .com) to try to community with their citizens.”

ICANN also “could charge additional fees,” the states noted. Congress already has acted twice to prevent the move, adopting “appropriations riders prohibiting any use of taxpayer funds ‘to relinquish the responsibility of the National Telecommunications and Information Administration … with respect to Internet domain name system functions, including responsibility with respect to the authoritative root zone file and the Internet Assigned Numbers Authority functions.'”

Rep. Ted Yoho, R-Fla., has been especially critical of the transfer. His interview with Greg Corombos of Radio America: Rep. Ted Yoho, R-Fla., says U.S. must not relinquish control over Internet “Is this move going to strengthen America, or is this move going to weaken it? I think it’s very clear that if we do what President Obama wants to do, it’ll weaken America’s stance again,” said Yoho, who is a strong supporter of the DOTCOM Act.

That bill passed the House of Representatives overwhelmingly last year but didn’t get action in the Senate. “The U.S. has been in control of the domain names of the Internet since its inception. If we relinquish this control, it goes possibly to the U.N. Then you have countries like Russia, China and Iran and any other country that wants to play, and [they get to] determine how to regulate those domain names within their countries,” Yoho explained.

He warned of authoritarian leaders controlling what their people can access.

“I think you’re going to see a decrease in access to the Internet, a decrease of freedom over the Internet to an extent we have never experienced before,” he said. Judith Bergman of the Gatestone Institute said the move could “spell the end of the current era of free speech on the Internet, as well as free enterprise.”

Authoritarian governments around the world already have bolstered Bergman’s case. China issued a statement saying, “It is necessary to ensure that United Nations plays a facilitating role in setting up international public policies pertaining to the Internet.”

The Russians weighed in, arguing, “We consider it necessary to consecutively increase the role of governments in the Internet governance, with strengthening the activity of the International Telecommunications Union [the UNs telecommunications arm] in this field … in the development of ethical aspects of Internet use.” Last month, a coalition told leaders of both parties in Congress that it already has ordered the NTIA “not to let lapse the government contract.”

But the Obama administration is doing exactly that. “It is, by its own admission, doing so as part of a drawn-out process resulting in the decision to let the IANA contract lapse – precisely what Congress forbade NTIA to do,” coalition members said.

“If NTIA allows the contract to lapse, it will have violated federal law,” the letter said. “The decision to abandon an 18-year contractual relationship governing the Internet has obviously consumed significant NTIA resources, both to fund outside experts and to pay for time spent on the issue and on NTIA employees making a decision about whether the extend the contract.”

“Police State USA: How Orwell’s Nightmare Is Becoming Our Reality” chronicles how America has arrived at the point of being a de facto police state, and what led to an out-of-control government that increasingly ignores the Constitution. Order today!

http://www.wnd.com/2016/09/hours-left-before-obamas-internet-giveaway-irreversible/

Right to Farm Bill

Support grows for right-to-farm, by Bonner Cohen PhD, 9/29/16

Voters in Oklahoma will have the opportunity this November to approve or disapprove amending the state’s Constitution to include a Right-to-Farm amendment.

The ballot initiative, known as SQ (State Question) 777, is in response to mounting pressure by interest groups, many of them from outside of Oklahoma, to restrict the use of animals and curtail other traditional agricultural practices on the state’s farms and ranches. State Rep. Scott Biggs, a Republican, told oklahomafarmreport.com that the amendment “will keep outside interest groups from coming to Oklahoma and telling us how to farm and ranch.” If approved by the voters, the state’s Constitution will be amended to read:

The legislature shall pass no law which abridges the right of citizens and lawful residents of Oklahoma to employ agricultural technology and livestock production and ranching practices without a compelling state interest.

SQ 777 does not apply to and does not affect state laws related to trespass, eminent domain, mineral rights, easements, right of way or other property rights, and any state statutes or political subdivision ordinances enacted before December 31, 2014.

The measure is supported by a host of groups, including the Oklahoma Farm Bureau, Oklahoma Cattlemen’s Association, Oklahoma Pork Council, Oklahoma Cotton Council, American Farmers & Ranchers, Oklahoma Wheat Growers Association, The Poultry Federation, Oklahoma Agricultural Cooperative Council, Oklahoma Sorghum Association, and Oklahoma Agri-Women.

Stewardship of Land by Farmers and Ranchers

“Oklahoma farmers and ranchers work hard raising wholesome and high-quality food,” said Michael Kelsey, executive vice president of the Oklahoma Cattlemen’s Association. “State Question 777 gives assurance that they can continue their stewardship of the land, animals, crops and ultimately all of us as consumers.”

Mark Yates, director of field operations for the Oklahoma Farm Bureau, accused those opposing the Right-to-Farm amendment of using pretexts to cover their real agenda.

“The opposition is making this about water, and it has nothing to do with water… They are also the ones putting the billboards up in Tulsa and Oklahoma City (saying the same thing)”

Anti-SQ 777 billboards have in fact sprung up in and around the state’s two largest cities. Opponents of SQ 777 are focusing on what they say are the threats modern agriculture poses to bodies of water as well as animals. Those groups include the Sierra Club, Humane Society of the United States (HSUS), Oklahoma Coalition of Animal Rescuers, Oklahoma Municipal League, Save the Illinois River, Oklahoma Stewardship Council, and the Conservation Council of Oklahoma. They urge voters to vote “No” on the ballot initiative. They aim their fire at the effect confined animal feeding operations have on poultry and other livestock, the use of genetically-modified (GMO) crops, and pesticide runoff into the state’s rivers.

“State Question 777 amounts a massive giveaway to corporate agriculture in a truly unprecedented way,” said Denise Deason-Toyne, president of Save the Illinois River. “Oklahomans have a right to clean water, clean air, and food safety. The ‘Right-to-Harm’ amendment strips them of those rights in favor of an industry that cares only about its own bottom line.”

Before the amendment could be placed on the ballot, it first had to be approved by the state Senate and House of Representatives. The Humane Society of the United States lobbied heavily against the initiative, including showering state legislators with anti-SQ 777 emails. Despite HSUS’s efforts, legislation approving the ballot initiative passed easily. HSUS, a radical national animal-rights organization, wasn’t helped by its over-the-top rhetoric. The group’s CEO Wayne Pacelle has said, “I don’t want to see another cat or dog born.”

Many states have right-to-farm statutes, but right-to-farm constitutional amendments are something new. North Dakota was the first state to adopt a right-to-farm constitutional amendment, doing so in 2012. Missouri followed suit in 2014.

http://www.cfact.org/2016/09/29/support-grows-for-right-to-farm/?utm_source=CFACT+Updates&utm_campaign=7ba5be8fe7-Right_to_farm9_29_2016&utm_medium=email&utm_term=0_a28eaedb56-7ba5be8fe7-270308565

Chinese Yuan gains Reserve Status

IMF Approves Reserve-Currency Status for China's Yuan by Andrew Mayeda amayeda 9/30/16

China's currency to have 10.92% weighting, topping yen, pound. Lagarde says China's currency meets `freely usable' standard

The IMF will add the yuan to its basket of reserve currencies, an international stamp of approval of the strides China has made integrating into a global economic system dominated for decades by the U.S., Europe and Japan.

The International Monetary Fund’s executive board, which represents the fund’s 188 member nations, decided the yuan meets the standard of being “freely usable” and will join the dollar, euro, pound and yen in its Special Drawing Rights basket, the organization said Monday in a statement.

Approval was expected after IMF Managing Director Christine Lagarde announced Nov. 13 that her staff recommended inclusion, a position she supported.

It’s the first change in the SDR’s currency composition since 1999, when the euro replaced the deutsche mark and French franc. It’s also a milestone in a decades-long ascent toward international credibility for the yuan, which was created after World War II and for years could be used only domestically in the Communist-controlled nation. The IMF reviews the composition of the basket every five years and rejected the yuan during the last review, in 2010, saying it didn’t meet the necessary criteria.

“The renminbi’s inclusion in the SDR is a clear indication of the reforms that have been implemented and will continue to be implemented and is a clear, stronger representation of the global economy,” Lagarde said Monday during a press briefing at the IMF’s headquarters in Washington. Renminbi is the currency’s official name and means “the people’s currency” in Mandarin; yuan is the unit.

The Chinese Yuan’s Journey to Global Reserve Status: A Timeline - The addition will take effect Oct. 1, 2016, with the yuan having a 10.92 percent weighting in the basket, the IMF said. Weightings will be 41.73 percent for the dollar, 30.93 percent for the euro, 8.33 percent for the yen and 8.09 percent for the British pound. The dollar currently accounts for 41.9 percent of the basket, while the euro accounts for 37.4 percent, the pound 11.3 percent and the yen 9.4 percent.

The yuan weakened in offshore trading Tuesday amid speculation China’s central bank will rein in intervention now that the IMF vote on reserve-currency status is out of the way. The long-term goal is for very few interventions, People’s Bank of China Deputy Governor Yi Gang said at a briefing, adding that bigger two-way fluctuations are normal.

In a preliminary report in July, IMF staff estimated the yuan would have a weight of about 14 percent to 16 percent. The weighting will affect the interest countries pay when they borrow from the IMF. It may also affect the scale of inflows the Chinese currency receives in the coming months.

The decision establishes the yuan as a fixture in the very international monetary system Chinese leaders criticized following the global financial crisis. In a landmark 2009 speech, PBOC Governor Zhou Xiaochuan argued a global system so reliant on a single currency -- the U.S. dollar -- was inherently prone to shocks. That conviction set off a global push by China’s leaders, including now-President Xi Jinping, to have the yuan included in the SDR, which countries can use to supplement their currency reserves.

The IMF staff recommendation was based on increasing international use and trading of the yuan, policy reforms that allow yuan to be used smoothly in SDR operations, and steps by China to step up data disclosure, the fund said. A more detailed staff report will be released later Monday or Tuesday, IMF officials said.

“It’s a big win for Beijing as they look to bolster their image and to get the respect they think they deserve,” said Timothy Adams, president of the Institute of International Finance and a former U.S. Treasury undersecretary.

The IMF endorsement is a bright spot in what has been a tumultuous year for the world’s second-biggest economy, which has been buffeted by slowing growth, a tumbling stock market and a shift by authorities toward a more market-oriented exchange rate.

The IMF’s decision is a “win-win” for both China and the world and acknowledges China’s achievements in economic development and reform, the PBOC said in a statement on its website. The U.S. supported the fund’s staff recommendation to add the yuan, the Treasury Department said in an e-mailed statement without elaborating.

Approval is unlikely to have much impact on short-term demand for the yuan, given the SDR’s minor share of global reserves, according to economists at banks including HSBC Holdings Plc and ING Groep NV. Adams said that rising demand may be “evolutionary” and “a process that will likely be pronounced.”

The decision should boost efforts by Xi to open up China’s financial markets. China implemented a series of reforms to win IMF support, such as opening its onshore bond and currency markets to foreign central banks and reporting its reserves to the IMF.

G-20 Host

The question is whether China, which will host meetings of the Group of 20 economies next year, will try to leverage the IMF’s support to pursue broader changes to the global monetary system. In his 2009 speech, Zhou suggested the IMF expand the use of the SDR to tap its potential as a "super-sovereign reserve currency."

The IMF’s move may also spur political blowback in the U.S., where Republican lawmakers have blocked efforts to expand the voting shares of China and other emerging-market economies at the fund. Senator Bob Casey, a Pennsylvania Democrat, said in an e-mailed statement that the decision “validates China’s history of cheating on its currency,” a history that’s hurt jobs and wages in his state.

The Washington-based fund created the SDR in 1969 to boost global liquidity. Under the Bretton Woods system of fixed exchange rates, countries pegged their currencies to the U.S. dollar. But for nations to increase their dollar reserves, the U.S. would have to run persistent current-account deficits, threatening the value of the greenback.

The SDR addressed this dilemma by serving as a supplementary reserve asset to augment countries’ gold and dollar holdings. While the SDR isn’t technically a currency, it gives IMF member countries who hold it the right to obtain any of the currencies in the basket to meet balance-of-payments needs.

http://www.bloomberg.com/news/articles/2015-11-30/imf-backs-yuan-in-reserve-currency-club-after-rejection-in-2010