Will the new IMF currency be the eventual one world currency?  Don't know, but I found some new details worth considering.

China requested the new currency and wants it to be the Chinese Yuan.  At the moment, it is uncertain whether the new currency will be the Chinese Yuan, something backed by it under a different name, or a new currency altogether. 

Whatever the case, the short term result is that come October, the US dollar will go down in value, because part of its current value is its trade value.  Most Americans didn't get a raise at work when the dollar soared in value a few weeks ago, and they may not get laid off when it drops from competition either.  Unless it triggers some sort of chain reaction, it will be a long term effect, not an economic collapse.  But could a drop in the dollar trigger a drop in the stock market, and a faster economic disaster?  Time will tell.

All 4 reserve currencies would likely devalue some;

• the Dollar,
• the Euro,
• the British pound and
• the Japanese Yen. 

Best case is that the Dollar drops, then rebounds as our exports become more affordable.  It is actually possible that the scheme could backfire on those out to harm the USA.  In fact some think the Chinese stock market is due to crash, and if that happens around the same their currency is becoming a trade currency, things could backfire.  Stay calm.  God's in control.

How can an American protect himself if things go bad for the US? Ron Paul and Porter Stansberry have been publishing an action plan. Also, trading any spare cash you have for gold or other metals would not be a mistake. Trading endangered stocks for stocks in Gold or into the bond market might be a reasonable move for your 401K if you don't want to risk cashing it out. Perhaps the safest currency to bet on is the Swiss franc. The Swiss are NOT planning to devalue their currency, and might even benefit from the chaos, since it is the next most confident currency beyond those already part of the IMF reserves.

The US is suppose to appoint the head of the IMF, which should give the USA veto power over anything drastically bad for America. So why didn't we use our influence to fight against the new currency? Sounds like American Patriotism is missing from whatever Americans are inside the IMF today. After all, if we pulled out of the IMF.....what would be left of it?

Whatever the case, this event may or may not trigger something important to watch for in the future in regard to the coming events.  But whatever it triggers, we have interesting times ahead. 

 

Shalom,

Joe