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IMF Receives SDR Allocation Approval From G20

UAE Ranked Third
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EDITOR NOTE: It appears that the Great Reset is well on its way as G20 leaders gave the IMF the go-ahead to issue $500 billion worth of SDR reserves to be allocated to member countries. Under the guise of the SDR allocation, let’s not forget that the IMF’s ultimate goal is to replace global currencies with SDRs. To that, it must first dethrone the US dollar’s reserve currency status. The IMF and World Economic Forum, which, in case you didn’t know, are comprised of private--and not elected--individuals, are looking to centralize the global economy using a reserve currency they can control and manipulate to fulfill their own social and economic agendas. It’s essentially a globalist takeover, and it’s set to begin on April 1. Regardless of the size of the forces or scope of the plan, the Great Reset has one point of weakness that can bring the IMF’s strategy crumbling down: and that's the fiat system. SDRs operate as a macro-fiat reserve. Any globally-recognized store of value that can function outside of fiat is a formidable threat to the system. And the only form of money that can withstand or even thrive on fiat’s collapse is physical non-CUSIP gold.

The G20 group of major economies have given the International Monetary Fund the go ahead to work on a new allocation of special drawing rights (SDRs), the head of the Fund Kristalina Georgieva said on Tuesday.

“We finally last Friday at the G20 meeting got a green (light) to work on a new SDR allocation,” Georgieva said during the IMF’s African Fiscal Forum.

“500 billion - in which each and every member of the IMF would receive its own share immediately contributing to reserves,” she said, without specifying the currency unit.

Finance officials from the Group of 20 major economies on Friday expressed broad support for boosting the IMF’s emergency reserves after U.S. officials dropped the previous administration’s opposition.

Italy, which heads the G20 this year, is pushing for a $500 billion issuance of SDRs, a move backed by many other G20 members as a way to provide liquidity to poor countries hit hard by the COVID-19 pandemic without increasing their debt levels.

No one at the IMF was immediately able to clarify.

Originally posted on Kitco

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