The UN is really pushing the one world currency ... got to wonder if they will have it, at the ready to launch out once the rapture happens and the stock markets crash ... Time for a True Global Currency Project Syndicate The International Monetary Fund’s global reserve asset, the Special Drawing Right, is one of the most underused instruments of multilateral cooperation. Turning it into a true global currency would yield several benefits for the global economy and the international monetary system. NEW YORK – This year, the world commemorates the anniversaries of two key events in the development of the global monetary system. The first is the creation of the International Monetary Fund at the Bretton Woods conference 75 years ago. The second is the advent, 50 years ago, of the Special Drawing Right (SDR), the IMF’s global reserve asset. When it introduced the SDR, the Fund hoped to make it “the principal reserve asset in the international monetary system.” This remains an unfulfilled ambition; indeed, the SDR is one of the most underused instruments of international cooperation. Nonetheless, better late than never: turning the SDR into a true global currency would yield several benefits for the world’s economy and monetary system. The idea of a global currency is not new. Prior to the Bretton Woods negotiations, John Maynard Keynes suggested the “bancor” as the unit of account of his proposed International Clearing Union. In the 1960s, under the leadership of the Belgian-American economist Robert Triffin, other proposals emerged to address the growing problems created by the dual dollar-gold system that had been established at Bretton Woods. The system finally collapsed in 1971. As a result of those discussions, the IMF approved the SDR in 1967, and included it in its Articles of Agreement 2 years later. Although the IMF’s issuance of SDRs resembles the creation of national money by central banks, the SDR fulfills only some of the functions of money. True, SDRs are a reserve asset, and thus a store of value. They are also the IMF’s unit of account. But only central banks – mainly in developing countries, though also in developed economies – and a few international institutions use SDRs as a means of exchange to pay each other. The SDR has a number of basic advantages, not least that the IMF can use it as an instrument of international monetary policy in a global economic crisis. In 2009, for example, the IMF issued $250 billion in SDRs to help combat the downturn, following a proposal by the G20. Most importantly, SDRs could also become the basic instrument to finance IMF programs. Until now, the Fund has relied mainly on quota (capital) increases and borrowing from member countries. But quotas have tended to lag behind global economic growth; the last increase was approved in 2010, but the US Congress agreed to it only in 2015. And loans from member countries, the IMF’s main source of new funds (particularly during crises), are not true multilateral instruments. The best alternative would be to turn the IMF into an institution fully financed and managed in its own global currency – a proposal made several decades ago by Jacques Polak, then the Fund’s leading economist. One simple option would be to consider the SDRs that countries hold but have not used as “deposits” at the IMF, which the Fund can use to finance its lending to countries. This would require a change in the Articles of Agreement, because SDRs currently are not held in regular IMF accounts. The Fund could then issue SDRs regularly or, better still, during crises, as in 2009. In the long term, the amount issued must be related to the demand for foreign-exchange reserves. Various economists and the IMF itself have estimated that the Fund could issue $200-300 billion in SDRs per year. Moreover, this would spread the financial benefits (seigniorage) of issuing the global currency across all countries. At present, these benefits accrue only to issuers of national or regional currencies that are used internationally – particularly the US dollar and the euro. More active use of SDRs would also make the international monetary system more independent of US monetary policy. One of the major problems of the global monetary system is that the policy objectives of the US, as the issuer of the world’s main reserve currency, are not always consistent with overall stability in the system. In any case, different national and regional currencies could continue to circulate alongside growing SDR reserves. And a new IMF “substitution account” would allow central banks to exchange their reserves for SDRs, as the US first proposed back in the 1970s. SDRs could also potentially be used in private transactions and to denominate national bonds. But, as the IMF pointed out in its report to the Board in 2018, these “market SDRs,” which would turn the unit into fully-fledged money, are not essential for the reforms proposed here. Nor would SDRs need to be used as a unit of account outside the Fund. The anniversaries of the IMF and the SDR in 2019 are causes for celebration. But they also represent an ideal opportunity to transform the SDR into a true global currency that would strengthen the international monetary system. Policymakers should seize it. Fair Use for Discussion and Information Purposes IMF: I always get the International Monetary Fund confused with the Impossible Missions Forces. In either case, the good results are both fictional. https://www.africaw.com/how-the-world-bank-and-the-imf-destroy-africa Yep, I wonder if we will be watching from our heavenly balcony seats :popcorn as the super rich do this amazing thing .... Ezekiel 7:19 They cast their silver into the streets, and their gold is like an unclean thing. Their silver and gold are not able to deliver them in the day of the wrath of the LORD. They cannot satisfy their hunger or fill their stomachs with it. For it was the stumbling block of their iniquity. This is the plan but I expect the plan to be fraught with disagreements until the seed of Satan, the beast AC appears and unites the 10 kings into one final kingdom. Seeing headlines like this tells us we are near the beginning of the time of the end. We are in a time like no other when clusters of prophetic signs are appearing almost daily. Indeed, we are hardly privy to what is going on behind closed doors. That said, we can understand the motivations and movements of hearts in rebellion to the things of God! Whenever this materializes, it has been foretold by the One who knows the hearts of men, as well as the future! When one understands that Jesus is the spirit of prophecy, then we are filled with the assurance that prophecy is not a suggestion or a guess. Rather something which has already been fulfilled! The weight of this fact seems to so easily elude even many in the Church! Even Satan well understands the significance and truth of God's prophetic word! And as we see prophecy being fulfilled, our trust in God can only be enhanced! TR And we have this ... IBM, the same company that provided punch card computing systems to the Nazis, lays groundwork for global “Mark of the Beast” cryptocurrency network Natural News Sunday, March 31, 2019 by: Ethan Huff The world is moving increasingly closer towards the type of single global currency system that was prophesied about in the Biblical book of Revelation. And leading the charge with its full-scale implementation is none other than multinational tech corporation IBM, which recently introduced a new financial transaction technology known as IBM Blockchain World Wire that has “Mark of the Beast” written all over it. According to an official company announcement, IBM has successfully developed “a real-time global payments network” that it says will help to “optimize” and “accelerate” both foreign exchange and cross-border payments and remittances, making it easier than ever before for people to buy and sell within the global marketplace using variant currencies. By implementing its own blockchain technology within the confines of a single unified network, IBM says that participants from around the world will now have the ability to process cross-border payments with unprecedented ease, eliminating many of the traditional barriers associated with currency conversion – and basically laying the groundwork for a whole new global currency system that will eventually replace our current decentralized paradigm. “We’ve created a new type of payment network designed to accelerate remittances and transform cross-border payments to facilitate the movement of money in countries that need it most,” revealed Marie Wieck, General Manager of IBM’s Blockchain division, about how the technology is a game-changer. “By creating a network where financial institutions support multiple digital assets, we expect to spur innovation and improve financial inclusion worldwide.” Revelation 13 reveals how implantable chips containing global currency will be REQUIRED in order to buy and sell. For those following Bible prophecy, the implications of what IBM is trying to do here are nothing short of chilling. By eliminating the various middlemen associated with cross-border payments while accelerating transactional settlement time to mere seconds, it’ll be as though everyone in the world is transacting using the same currency – which is exactly what the Bible foretells will happen in the end of days. “He causes all, both small and great, rich and poor, free and slave, to receive a mark on their right hand or on their foreheads, and that no one may buy or sell except one who has the mark or the name of the beast, or the number of his name,” reads Revelation 13:16-17, which is part of John’s amazing, heaven-sent vision depicting a future one-world currency system that the Antichrist will implement during a horrific period of time known as the Great Tribulation when all of the world’s individual national currencies will basically go kaput and be replaced by a universal “mark.” It will likely play out as a “controlled demolition,” so to speak, of all currencies, including the U.S. dollar and the EU euro. This will prelude the planned global merging of all of these former currencies in to one single currency, which will require some type of biometric or RFID (radio-frequency identification) chip in order to function. Under this new Luciferian global economy, which will be governed by Satanic Noahide laws, all people, regardless of who they are or where they’re from, will be required to have these chips implanted into their bodies in order for them to have the capacity to engage in commerce – as well as to not starve to death. “Unless one receives the mark, he or she is unable to buy or sell anything in the global market, meaning many probably will accept the mark simply to survive,” writes Chris Katulka for IsraelMyGlory.org. “Managing what people buy and sell on such an immense scale would require a one-world currency to monitor all transactions.” Earlier blueprints for global control matrix were also laid by IBM back during WWII in Nazi concentration camps IBM played a pivotal role in earlier iterations of this type of one-world control matrix, as the company was responsible for developing the technology required to control and track prisoners who were held in Nazi concentration camps during World War II. IBM basically partnered with Adolph Hitler to develop a then-high tech tracking system for keeping tabs on Jews and other political prisoners, tabulating the Nazi census that kept the Holocaust going. IBM was also responsible for powering the system that kept the trains to the death camps running on time. While other major multinationals such as Coca-Cola and Kodak also worked with the Nazi regime to maintain its centrally-run death machine, IBM is said to have “[gone] the extra mile” in developing the technologies that allowed for millions of people to be systematically imprisoned, and many of them executed. “… the IBM Hollerith machine, a tabulating machine that ran on punch cards, was an essential tool for executing the logistical challenges of the Jewish extermination during Hitler’s regime in a world before computers,” writes Jack Smith IV for Mic.com. “They didn’t just sell tools and products; they collaborated with the Nazis in creative ways to help them design and execute the systematic destruction of the Jewish people.” Staying true to its dark legacy, IBM is once again providing the technological backing for yet another impending Holocaust – this one global in nature, and to be run by the Man of Sin himself. And as is typically the case, it’s all being ushered in under the guise of “progress.” Fair Use for Discussion and Information Purposes
Apr 5, 2019 JOSÉ ANTONIO OCAMPO
