Exactly 18 months after Mark Carney officially announced the end of the Petrodollar, and its replacement by an IMF World Reserve Currency, the IMF announces that they will create $650 billion worth of Special Drawing Rights. It’s an astounding event. The IMF ceases lending in Dollars, and starts using its own currency to bail out Nations. Ninety of which have asked for ‘assistance’, their finances savaged by the Lockdown. $650 billion may not sound that much, but surely this is only the beginning. Soon the IMF will be throwing around trillions worth of SDR like the Fed now is doing with USD.
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