The arrest of IMF chief Dominique Strauss-Kahn on sexual-assault charges represents a seismic blow to the efforts of the global financial elite to bury the euro and dollar currency blocs and replace the dollar-demoninated global monetrary system with an IMF and UN-run currency.
The arrest in New York on Sunday prevented Strauss-Khan from going to Europe to participate in key meetings and press for a ruinous policy of penal IMF/EU bailouts and the arrest also comes at a time when the dollar bloc is facing a default or hyperinflation due to the size of its national debt and replacement by the IMF’s new currency.
The US has to increase its $14.3trn debt ceiling once more to prevent the government defauling — and allow time to be bought to seize the Federal Reserve back from the bankers? — and the eurozone and IMF finance chiefs have to decide how to deal with the imminent problem of an insolvent Greece amid growing opposition to more bailouts, increasingly recognised as a covet wealth transfer scheme.
Whatever is decided could either hasten the collapse of the dollar and the euro and so pave the way for the introducion of a super souvereign IMF/UN currency controlled by the banks and usher in a new era of global repression and poverty. Or, it could stop the bankster’s plans for wrestling control of the globe’s currency in their tracks.
Strauss-Kahn has been a key figure in the creation of an IMF currency on the margins and his arrest leaves a power vaccuum in the bankster’s IMF at a crucial time for their plans. Right now, the IMF’s Special Drawing Rights (SDR) are still only an internal accounting unit for governments to denominate their foreign exchange reserves, but the SDR is set to have a more central role and the UN is also already producing bullion coins called the „uno“ to give flesh to the currency.
The replacement of the dollar with the IMF/UN currency has been a long-term goal of the bankers and China and plans are reaching a decisive phase in parallel to the disintegration of the dollar and euro.
Reuters reports that China’s central bank governor Zhou Xiaochuan sketched out its ambitions to replace the dollar with the IMF’s SDR in 2009.
The SDR basket currently comprises the U.S. dollar, British pound, euro and Japanese yen. But moves are a foot to include the Chinese currency.At the beginning of May, the head of China’s foreign exchange authority, said the IMF should include the Yuan at the earliest possible opportunity and by 2015 at the latest.
„The IMF should consider including currencies of the BRICS countries and other emerging economies when it next reviews its Special Drawing Right (SDR) system by 2015, the head of China’s foreign exchange authority said in remarks published on Thursday,“ says Reuters on May 5th.
„Yi Gang, who is also a deputy governor of the People’s Bank of China (PBOC), called on the International Monetary Fund to kick off a research of a “shadow SDR” this year, the semi-official China Business News reported.“
Reuters points out that the dollar and euro are set to crash while China’s economy booms – due to the fact the government prints money with involving private banks who charge interest – and so the IMF currency is set to be heavily weighted in favour of China as well as private banks who ultimately control the IMF.
Strauss-Kahn was instrumental in a report in January 2011 calling for a bigger role for the IMF’s SDR, prompting some commentators to say this was a call for a “new world currency that would challenge the dominance of the dollar”,”
Before the IMF/UN currency can, however, take over as the global currency, ushering in a new era of repression and poverty for the people of the world under the banks, the dollar and euro need to be destroyed.
And Strauss-Khan has played a key role in pushing through the penal IMF/EU bailouts that are destroying the euro currency and he was due to attend vital meetings in Germany and Brussels on Sunday and Tuesday.
Strauss-Khan, who also helped bring France into the euro, was set to resign his position as the IMF chief in the next few to launch a bid for the French Presidency in 2012. Strauss-Khan is needed to ensure that the banksters continue their political grip on France, a country that is driving the disastrous IMF/EU bailouts and a major player in the ECB.
Christine Lagarde, the current French finance minister, is set to take over as IMF chief and to push forward the banker’s agenda of a global IMF/UN currency.
The arrest of Strauss-Khan, therefore, throws the Globalist plans back on several key fronts, loosening their grip of the IMF, the French Presidency and ECB and the IMF/eurozone bailouts – — at a crucial time when deadlines are looming on how to deal with the US and eurozone debt burden and when the eurozozone is waking up the fact that the bailouts are nothing more than conduits for the transfers of tax money and assets to private banks
Whatever the charges against Strauss-Kahn for assaulting a chambermaid who had been cleaning his hotel suite, he is a known womaniser: French writer Tristane Bandon said she had to fend off Kahn with punches and kicks, according to The Telegraph. Interesting, though, was the speed at which he was arrested and arraigned. His career is surely over even if he is found not guilty, which seems highly unlikely.
The IMF’s number 2 John Lipsky is set to leave in August, paving the way for a new leadership in the IMF that is more supportive of the dollar and euro and less suportive of the IMF’s SDR as one faction of the IMF already is.
The big fear of the Globalists and bankers must now be that they lose their control of the IMF leadership and their plans for an IMF/UN currency will be put on ice and that the eurozone can use the absense of Strauss Kahn at the negotiating table to push through a much needed managed default of Greece.
Without Strauss Kahn, who is a friends with the complicit Greek government, it will be harder to win especially Germany’s approval for more tax money to be shovelled into the black hole of Greek national debt for the profit of the banks.
In the meantime, it is clear that the IMF and EU „bailout“ is failing: Greece’s overall national debt rising and no sign of it being able to tap the market’s liquidity anytime in the next decade let alone next year. All the economic fundamentals point to the need for Greece to undergo a managed default – something that the Globalists dread because it will reveal the ECB and the IMF to be what they are – incompetents and/or crooks – and so finally derail their plans for the implosion of the eurozone under a mountain of transferred debt.
More information on the SDR from Anthony Rowley at Business Times:
„So, if the US dollar is in danger of being ‘terminated’ in its role as global currency of first and last resort, and no other single currency is eager to take over the role, who or what is going to do the job?
The answer is something that is not a currency as such (yet anyway) but a unit of account for governments to denominate their foreign exchange reserves in, and maybe to issue their debt in, but which is not created at the whim of any single country as is the case with the US dollar.
The only candidate able to fit the bill is the IMF’s Special Drawing Right (SDR), known as a ‘fiat’ currency because it can be created at official will. It is a pale shadow of the global monetary unit ‘Bancor’ proposed by John Maynard Keynes after World War II but it is the best we have.
The problem is that the basket of currencies that make up the SDR (dollar, euro, pound and yen) is a remnant of days before the emergence of China and other powers onto the international scene, and in this sense it is far from being a representative, let alone universal, currency.
Enter France which, as chair country of the G-20 group of advanced and emerging economies this year, is bent on making long-overdue reforms to the international monetary order, including moving the world away from dependence upon an increasingly shaky US dollar standard. French President Nicolas Sarkozy can take credit for conceptualising such reforms but he certainly did himself no harm by appointing Ms Lagarde as the lady charged with implementing them. She proved herself in Hanoi to be a ‘charmer’ able to woo support for the cause.
In what might be called ‘operation outreach’, she briefed finance ministers and central bank senior officials from the globally influential Asean+3 group on what is afoot in the G-20, without appearing to undermine the US dollar. What is afoot is to try to get the renminbi included in the basket of SDR currencies, something which would make the currency more representative of a changing global economic order and as a reserve and transaction currency when the day comes for it to assume such a role.
No one described these moves as designed primarily to get China’s currency into the SDR basket. But Ms Lagards noted in Hanoi that ‘the prime candidate is more likely to be the renminbi than any other currency’. Once the door has been opened, other currencies could enter more easily. China might see inclusion of the yuan in the SDR as a ploy to make it more susceptible to market forces (appreciation); but the move would enhance the currency’s global status, and maybe provide Beijing with political capital to demand a greater voice in international bodies.“