Is The Fed Preparing to Topple US Dollar?
The comments below are an edited and abridged synopsis of an article by F. William Engdahl
Unusual remarks by Mark Carney, the outgoing head of the Bank of England, and other central bankers suggest that there is a plan in the works to end the role of the US dollar as world reserve currency. One scenario is that the Fed deliberately triggers an economic depression. If this happens, the world economy will face the worst collapse since the 1930s.
Engdahl discusses Carney’s speech, which was delivered at Jackson Hole in August. The address is a signal of where the powers-that-be, who run the world’s central banks, plan to take us.
The US dollar must be replaced by some form of IMF SDRs as the basis for a multi-currency reserve. That would be based on digital money: block chain currencies. They would be controlled by central banks and the IMF, eliminating cash in favour of digital money, where every cent we spend can be monitored by the state. This cashless society would also set the stage for the next financial crisis and the confiscation by governments of citizens’ bank deposits under new bank bail-in laws, on the books since 2014, in every major industrial country.
The IMF fully supports global blockchain digital currencies and SDRs to replace the US dollar. In November 2018, IMF chief Christine Lagarde indicated that the IMF supported central bank digital currencies as well as cashless societies.