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New World Currency on Steroids

from Rogue Money:

Can the IMF now create a $100 Trillion credit facility and buy up all the garbage no-good debt from all the central banks around the world, roll it up, and price it all in these Special Drawing Rights? — Max Keiser

Yes, Virginia, apparently they can. And now perhaps we understand better WHY the Bankster Priesthood of the Federal Reserve seems to be so intent on destroying capital and blowing the nation’s debt bubble as far as it can go. Do you see it? The Fed knows that the ultimate Backstop is now geared up to ride to the rescue. The new SDR scheme is prepared to roll up all global debt as the IMF of the United Nations readies herself to give birth to a world reserve currency on steroids (to quote Dan Collins in the video below.)

Here is the Keiser Report posted September 6, 2016. Max and Stacy first discuss the rudiments of the M-SDR. In the second half, Dan Collins of www.TheChinaMoneyReport.com (twitter: @DanCollins2011) provides deep insight about the first World Bank M-SDR bond issuance that took place last month. Below the video is a partial transcript of the conversation between Max and Dan.

Partial transcript, partially paraphrased:

Max: If China’s Yuan has 10% of the IMF Basket, this is a whole paradigm-busting, New World Order, right Dan?
Dan: Yes absolutely…. this SDR Bond is going to rocket the Renminbi up probably into the top two world currencies.
Max: And it’s going to surpass the Japanese Yen.
Dan: How can Japan compete with China economically? China has 20x the population….
Max: Folks who are critical of the Central Banks say they have reached a limit of how much bond-buying they can do (or outright stock-buying, in the case of Japan)… But if the world central bank, the IMF, becomes a $100 Trillion credit facility, then you have a lot of room yet to go with central banks buying up assets around the world. China is now involved. Can the IMF now create a $100 Trillion credit facility and buy up all the garbage no-good debt from all the central banks around the world, roll it up and price it all in these Special Drawing Rights?
Dan: At the end of the day, that may have to be the global backstop. We are in an era of globally coordinated debasement of everybody’s currency. It’s the first time in the world [history] that everybody has coordinated to debase their own currencies. The Japanese are leading the way. At some point the levies are going to break. This might be the plan that they had [all along].

Therefore, don’t expect either the Fed or the Bank of Japan to pull the reins back on further balance sheet expansion and worthless stock purchases. In fact, go ahead and load those puppies up because we’ve got a new Sugar Daddy in town. The Bail-Out Messiah has left the gate.

Read More @ RogueMoney.net

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