The International Monetary Fund, in cahoots with the Biden administration, is preparing to issue $1 trillion worth of new “Special Drawing Rights” (SDRs), paving the way to replacing the U.S. dollar as the global reserve currency while redistributing America’s remaining wealth to foreigners and Third World regimes. It is all part of a much-broader agenda being peddled as the “Great Reset” that will — if successful — fundamentally transform the world. COVID-19 is merely the pretext.
According to media reports, the Biden Treasury, led by radical activist Janet Yellen, is so anxious to shower U.S. dollars on foreign nations that it is even working quietly to bypass the U.S. Congress. Under U.S. law, America’s elected representatives must approve any SDR issuance by the IMF in which the U.S. government allocates more than $120 billion — the amount of its proportional stake in the global organization — during any five-year period.
The U.S. share of the new $1 trillion SDR allocation being pushed by the IMF and its allies amounts to almost $175 billion, triggering the legal requirement for congressional approval. To get around that, the IMF and Yellen are scheming to break the $1 trillion issuance into two parts. The first batch, to be issued this year, would amount to $650 billion total — the highest amount possible without Congress. Part two would come next year, once the start of a new five-year period begins.
Special Drawing Rights are basically the proto-global currency issued by the IMF that globalists are working to replace the U.S. dollar with as the global reserve asset held by governments and central banks. It is based on a basket of currencies including the U.S. dollar, the euro, the Japanese yen, the British pound, and most recently, even the Communist Chinese yuan. When the IMF prints SDRs and hands them out to governments, those instruments can then be redeemed for U.S. dollars.
The International Monetary Fund, in cahoots with the Biden administration, is preparing to issue $1 trillion worth of new “Special Drawing Rights” (SDRs), paving the way to replacing the U.S. dollar as the global reserve currency while redistributing America’s remaining wealth to foreigners and Third World regimes. It is all part of a much-broader agenda being peddled as the “Great Reset” that will — if successful — fundamentally transform the world. COVID-19 is merely the pretext.
According to media reports, the Biden Treasury, led by radical activist Janet Yellen, is so anxious to shower U.S. dollars on foreign nations that it is even working quietly to bypass the U.S. Congress. Under U.S. law, America’s elected representatives must approve any SDR issuance by the IMF in which the U.S. government allocates more than $120 billion — the amount of its proportional stake in the global organization — during any five-year period.
The U.S. share of the new $1 trillion SDR allocation being pushed by the IMF and its allies amounts to almost $175 billion, triggering the legal requirement for congressional approval. To get around that, the IMF and Yellen are scheming to break the $1 trillion issuance into two parts. The first batch, to be issued this year, would amount to $650 billion total — the highest amount possible without Congress. Part two would come next year, once the start of a new five-year period begins.
Special Drawing Rights are basically the proto-global currency issued by the IMF that globalists are working to replace the U.S. dollar with as the global reserve asset held by governments and central banks. It is based on a basket of currencies including the U.S. dollar, the euro, the Japanese yen, the British pound, and most recently, even the Communist Chinese yuan. When the IMF prints SDRs and hands them out to governments, those instruments can then be redeemed for U.S. dollars.
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