Larry Edelson writes: I’m buried monitoring the markets … scrutinizing them virtually 24/7 … checking every piece of news I can get my hands on.
I also have three Dollar Index charts on my trading screen: A monthly chart, a daily chart, and a 60-minute chart to check the short-term moves.
That’s because there’s a lot going on in the currency markets. They need to be monitored closely. Miss a development — no matter how small it may seem — and it can cost you big time!
That’s especially true now because a very important G-20 meeting convened TODAY in London. And it has the potential to rock the currency markets.
So in this column of Money & Markets , I’m going to give you an important, complimentary look at the recently published March edition of my Real Wealth Report , which took an in-depth look at the G-20 meeting and the history of currency devaluations.
I think it’s critically important that everyone have the info I published in my March issue.
Naturally, I cannot give you the specific recommendations I make in that issue to profit from what I believe are the next moves by the G-20. Those are reserved for my paying subscribers.
Nevertheless, the content of that issue is crucial to your future. So let’s get started …
Following the 2009 G20 summit, plans were announced for implementing the creation of a new global currency to replace the US dollar’s role as the world reserve currency. Point 19 of the communiqué released by the G20 at the end of the Summit stated, “We have agreed to support a general SDR allocation which will inject $250bn (£170bn) into the world economy and increase global liquidity.” SDRs, or Special Drawing Rights, are “a synthetic paper currency issued by the International Monetary Fund.” As the Telegraph reported, “the G20 leaders have activated the IMF’s power to create money and begin global «quantitative easing». In doing so, they are putting a de facto world currency into play. It is outside the control of any sovereign body. Conspiracy theorists will love it.”
The article continued in stating that, “There is now a world currency in waiting. In time, SDRs are likely to evolve into a parking place for the foreign holdings of central banks, led by the People’s Bank of China.” Further, “The creation of a Financial Stability Board looks like the first step towards a global financial regulator,” or, in other words, a global central bank.
It is important to take a closer look at these “solutions” being proposed and implemented in the midst of the current global financial crisis. These are not new suggestions, as they have been in the plans of the global elite for a long time. However, in the midst of the current crisis, the elite have fast-tracked their agenda of forging a New World Order in finance. It is important to address the background to these proposed and imposed “solutions” and what effects they will have on the International Monetary System (IMS) and the global political economy as a whole.