Thursday, February 25, 2021

Jim Rickards on The Great Reset

Jim Rickards has a new article out talking about The Great Reset. This is the type of monetary system change this blog watches for. Right now Jim is saying some of the initial steps for the SDR to eventually replace the US dollar are in progress. Below are a couple of excerpts and then an added comment.


"For years, commentators (myself included) have discussed the next global monetary realignment, which is sometimes called The Big Reset or The Great Reset.

Now, it looks like the long-expected Great Reset is finally here.

Details vary depending on the source, but the basic idea is that the current global monetary system centered around the dollar is inherently unstable and needs to be reformed."

. . . . .

"On January 7, 2011, the IMF issued a master plan for replacing the dollar with SDRs."

. . . . .

"In July 2016, the IMF issued a paper calling for the creation of a private SDR bond market. These bonds are called “M-SDRs” (for market SDRs), in contrast to “O-SDRs” (for official SDRs).

In August 2016, the World Bank announced that it would issue SDR-denominated bonds to private purchasers. Industrial and Commercial Bank of China (ICBC), the largest bank in China, will be the lead underwriter on the deal.

In September 2016, the IMF included the Chinese yuan in the SDR basket, giving China a seat at the monetary table.

So, the framework has been created to expand the SDR’s scope."

. . . . .

"Now all of the pieces of the global elite plan are converging.

The IMF SDR issuance will reliquify global central banks that cannot print dollars. Then CBDCs (Central Bank Digital Currencies) will be used to eliminate cash."

Please click here to read the full article


My added comment: Jim has talked about this for a long time and lately there has been some renewed interest in issuing a new allocation of SDR's at the IMF. The Biden Administration looks to be more inclined to support this than the previous Administrations have been in recent years. For now, this is still just in the discussion phase, but it certainly bears monitoring.

Jim does point out in this article that all this may unfold over a period of several years, so it is something to watch over time to see if it leads to the kind of major monetary system change we watch for here. Any change where the US dollar is replaced as the global reserve currency would qualify as major systemic change in our view here that would impact all of us directly in our daily lives. 

Friday, February 12, 2021

Update Note - New Blog Created

There is nothing new to cover related to major potential monetary system change at this time. Bitcoin has made some news with its rise in price, but there is nothing to suggest that it will cause a major monetary system change. Monetary authorities are still mostly negative about Bitcoin and it's still not widely used for daily business transactions. There is some discussion of the IMF possibly issuing some new allocations of SDR''s, so we will see if that emerges over time and how big the allocation might be.

The recent news in the silver market caused me to create a new blog that is focused on tools and information for people who may be new to the gold and silver markets. It emphasizes silver since that metal could be a key to the future in terms of expanded silver use in green energy. This new blog is a bit more commercial since it covers gold and silver in terms of their role as investments as well. I have followed those markets now for years doing research for this blog, so I have a lot of resources and tools for analysis of gold and silver that I use myself. I just collected them all in one place on the new blog to make it easier for someone new wanting to learn about gold and silver. There has definitely been an upswing in interest in those markets recently. If you have interest in those markets, you can find the new blog at this link and this is a link to one of the first articles posted there.