Anthony Migchels: “Henry, something big happened last week: the IMF is going to give out loans in SDR. Special Drawing Rights are their currency. By itself, they’re nothing special, but the IMF has always lent in Dollars. That they are going to print their own currency on a large scale, $650 billion to begin with, is simply monumental. It means that World Currency is starting.
This is EXACTLY what Mark Carney (BoE chief) announced 18 months ago. That the Petrodollar would end ‘in ten years’, and would be replaced with an IMF World Reserve Currency. I reported on it here. There’s Going to be a Gold Standard & It Will Be Disastrous.”“Make no mistake: if there’s a World Central Bank, and a World Reserve Currency, open World Government is not far away.”
Eighteen months after Mark Carney officially announced the end of the Petrodollar, and its replacement by an IMF World Reserve Currency, the IMF announces that they will create $650 billion worth of Special Drawing Rights.