The world is anticipating a new global reality with huge implications: China’s yuan is poised to get recognized as a global reserve currency.
In a sign of the times, the IMF has essentially rebuffed U.S. claims of currency manipulation, to instead affirm that China’s currency is “no longer undervalued” – essentially giving its approval for the inner circle what many have described as an incubating world currency.

 

Submitted by Mac Slavo, SHTFPlan:

 

 

China’s yuan currency, which Washington has long alleged was manipulated, is “no longer undervalued”, the International Monetary Fund said Tuesday.

The value of the yuan, also known as the renminbi, has been a source of tension for years, with China’s major trade partners — led by the United States — accusing Beijing of keeping it artificially low to give Chinese exporters an unfair competitive advantage, which Beijing denied.

“Our assessment now is that the substantial real effective appreciation over the past year has brought the exchange rate to a level that is no longer undervalued,” the IMF said in a statement after a consultation mission to China. (source)

#China‘s #yuan may become world currency after #IMF ‘approval’ http://t.co/OyAfKUI1XMpic.twitter.com/bArePaPpJe

— Sputnik (@SputnikInt) May 27, 2015

With longstanding U.S. opposition to China’s currency status, the IMF decision has been seen as the biggest hurdle to world reserve status. This news brings China one giant step closer to entry onto the global stage of currencies and new financial norms for Americans, as SHTF has long reported.

The decision underscores a larger shift in the global balance of power – there is no doubt that there are serious cracks in the foundation – as the U.S. petrodollar has lost its potency as the world reserve currency hegemony.

U.S. allies have been easily won over to recognizing China, and partnering with its Asian Infrastructure Investment bank, signaling a new era for finance under globalism. The new currency will be pegged to a global basket that China is part of.

What will this new currency look like, and will it become a reality? A mining executive shed light on the manipulation of gold behind the scenes, with a quest for parity undervalue that is encouraging China to accumulate gold at a rapid pace, so that it can hold reserves equivalent to those the U.S. reportedly holds:

I think there will be a reset of the financial industry…

I think China is being allowed to accumulate gold purposefully by the American government…I believe that the Chinese need to own at least the same amount as the U.S. owns before this reset occurs. I think that there’s some kind of deal that’s being made between all the central banks behind the scenes and that’s why you’re seeing governments accumulating the metal.

I do believe there will be some kind of new currency created with the backing… and it might not be a direct backing of the metal… but it’ll be some kind of blend of currency.. it could be through SDR’s… Special Drawing Rights… or some type of mechanism… I think that’s where we’re going.

It could mean a major shake up to the norms that Americans and other westerners have been accustomed.

But beyond that, the currency will ultimately be digital. Cash will likely be banned to enhance control, and all payments will be authorized and monitored. Through a new wave of bank fees and fines, and (outrageously) charges for deposits, average people will be hurt on all sides of transaction by money that has been thoroughly debased and manipulated.

The Federal Reserve bank and its owners, the largest banks on Wall Street, want badly to be able to charge you interest for the privilege of depositing your funds. The problem is getting you to stand for it.

The cashless digital grid will become fully a tool of banker control that is global in scope and backed at its root by central planning at central banks supported by a system of total consumer surveillance over spending, exchanges and all other transactions.

Listen to more about IMF’s revaluation of the Chinese yuan, discussion starts at 8:50:

  1. Bix Weir is predicting Janet Yellen will be replaced by the (2nd in command) Obama appointee,

    and “Bad Guy Bankster” Stanley Fischer. The most telling paragraph from his Wikipedia resume is this:

     

    He is a member of the Bilderberg Group and attended the Swiss 2011 Bilderberg conference in St. MoritzSwitzerland.[25] He is also a Distinguished Fellow in the Council on Foreign Relations (CFR). Fischer was named a Distinguished Fellow of the American Economic Association in 2013.

     

    CFR and Bilderburg

    The more jaded among us will also note from Wiki that he is a Jewish bankster.

    I for one do not subscribe to the thought that all banksters are Jewish, and I furthermore

    do not think a “few bad apples” ruins the whole bunch. It was noted here on SD that the

    rothschild family is not really Jewish, but Edomites or Moabites, posing as Jews.

    This @$$hole is probably the same as the rothschild gangsta-bankStaS…

    Either way, these worthless pukes get RICH and the folks in Israel take all the flack.

    I say we hang the bank$ter$ and fix all their screw-ups 😉

    • We’re getting “zagged,” undeRGRound; Meet the new boss…same as the old boss, but now open in a new location- Beijing…while China “looks” like a kind of Robin Hood to us because they appear to oppose and outshine that nasty and evil old Anglo-American bankster hegemon. 

      I might sound like I’m all skeptical and suspicious and stuff, but after what we’ve seen for the last 50 years…who can blame me?

    • “I say we hang the bank$ter$ and fix all their screw-ups “

       

      What was that old saying?  Oh, yeah… “Hangin’s too good fer ’em!”.  lol

       

      After the hangings, we need to convert all of the banks into local and regional utilities that are only allowed to offer an approved set of services (the ones that don’t end up destroying the economy) at a decent price.  Competition would keep prices in check IF it is allowed to occur.

       

  2. I don’t think for a minute that the US is letting China buy gold. The US is in a rock and a hard place. If they don’t keep gold low, the dollar looses all its value. The last thing the US wants is to have China in the SDR basket and have the SDR replace the dollar in world trade., which is coming 1/1/2016. Congress even refused to vote on the IMF changes by the cutoff date of 1/1/2015. The IMF has enough votes to override any vetoes by the US. This will end the global hegemony of the US and they will have to live within theirs means. Just look around the world and see how desperate they are. The US is trying to get all it wants before the end and they are certainly not hiding that fact!

    • “… and they will have to live within theirs means.”

       

      The shock of that will likely be fatal to some.  But not to those of us who have done this all our adult lives.

       

    • No problem.  We will have a gauntlet that runs through the city center and is miles long.  On either side will be We The People, armed with fly swatters for these insects.  50-60k WHAP!s should do it for them AND a lot of us will get in a swat or two, just for the satisfaction of it.  They, however, will be flayed alive, which seems appropriate.  Oh, and by the way, we will also confiscate EVERY penny of their ill-gotten wealth and use it to pay down the national debt that they were so fond of creating and increasing.

       

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