# IMF expected to announce reserve currency alternative to U.S. dollar



## sideKahr (Oct 15, 2014)

"Experts say this announcement, expected Oct. 20th, could trigger one of the most profound transfers of wealth in our lifetime."

"...if you own any U.S. assets-and that includes stocks, bonds, real estate, or just cash in a bank account-you should be aware of what's about to happen, and *know how to prepare."*

First Look: U.S. Dollar Substitute to Go Public on Oct 20th?

P.S. Take this with a grain of salt until confirmed. This site is owned by Porter Stansberry & Assoc.


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## rice paddy daddy (Jul 17, 2012)

I did not click on it.
Just curious, at the bottom of the article is there a spiel to buy gold?


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## sideKahr (Oct 15, 2014)

rice paddy daddy said:


> I did not click on it.
> Just curious, at the bottom of the article is there a spiel to buy gold?


LOL. No. He missed one.


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## Camel923 (Aug 13, 2014)

A different world reserve currency may happen at some point but I believe the rest the world is more screwed up than we are. Who do you trust you currency transfers to? China? Russia, the EU? Uganda? Mexico? The circus on the Potomac, dysfunctional as it is, will be kept in line by the Federal Reserve because our elected officials are not capable of clearly thinking when it comes to national or global monetary policy.


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## rice paddy daddy (Jul 17, 2012)

Actually, at the moment the US dollar is strong.


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## sideKahr (Oct 15, 2014)

I've been searching for anything to confirm this assertion. Here's a quote by Jim Rickards that supports the possibility of an alternate currency:

"People use the phrase, 'kick the can down the road'...it's more like kicking the can upstairs. So, going from private debt to a sovereign debt bailout was kicking the can upstairs&#8230; And the reason is that the central banks used up their balance sheets-used up their capacity-to deal with the last crisis. So they've got nothing left to deal with in the next crisis. So it's going to have to go to the IMF because they have the only clean balance sheet left in the world. Just to give you a concrete example...the Fed is leveraged 80:1. The IMF is only leveraged 3:1, which means the IMF has a lot of headroom to issue new money and they will. I've had private conversations with senior people and they say they will do it."

"What the elites are trying to do is they're trying to engineer higher inflation to make the debt worth less, keep a lid on interest rates so they don't get even more debt on top of it, rob the savers-do it through the banking the system-and print the money at the IMF. So it's all kind of one big thing that they're working on...again this is not speculation, there are academic papers on financial repression, there are official IMF papers on SDRs."

Rickards is a connected, brilliant analyst and author. I've read his books. He seems to be one of the few honest men in the field of banking. Here's his CV:

_James Rickards is Chief Global Strategist of West Shore Funds, where he focuses primarily on alternative investing, macroeconomic trends and global currency & monetary policy. He is also a visiting lecturer in finance at Johns Hopkins University and its School of Advanced International Studies (SAIS) and an advisor on capital markets to the Office of the Director of National Intelligence and the Office of the Secretary of Defense. Prior to joining West Shore in 2013, Mr. Rickards served as Senior Managing Director of Omnis, Inc., a research and consulting firm based in McLean, VA; Senior Managing Director of Tangent Capital Partners LLC, an investment bank based in New York, NY; and Chief Operating Officer of JAC Capital Management, an alternative asset management firm based in New York, NY. He has also held senior positions at Citibank, Long-Term Capital Management and Caxton Associates._


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