Lagarde Hints At IMF Being Based In China In Future

Tyler Durden's picture

In a comment sure to stir up questions over dollar hegemony (and new world order conspiracy thoughts), IMF Managing Director Christine Lagarde admitted during an event today in Washington that The International Monetary Fund could be based in Beijing in a decade.

As Reuters reports, Lagarde said that such a move was "a possibility" because the Fund will need to increase the representation of major emerging markets as their economies grow larger and more influential.

"Which might very well mean, that if we have this conversation in 10 years' time...we might not be sitting in Washington, D.C. We'll do it in our Beijing head office," Lagarde said.

Lagarde's comments build on questions raised in May on The IMF's push for World Money... Yi Gang, the Deputy Governor of the People’s Bank of China disclosed to the IMF panel that,

“China has started reporting our foreign official reserves, balance of payment reports, and the international investment position reports.”

 

“All of these reports, now, in China are published in U.S dollars, SDR and Renminbi rates… I think that has the advantage of reducing the negative impact of negative liquidity on your assets.”

What that means in real terms is that China views the opportunity of being a part of the exclusive world money club as an opportunity to diversify away from the U.S dollar.

The Bank of China official took that message even further saying that he hopes that China could lead in world money operations by integrating it into the private sector.

Yi Gang

“If more and more people, companies and the market use SDR as unit of accounts – that would generate more activity in the market with focus on the MSDR. [The hope would be] that they could create more products and market infrastructures that would be available for trade products to be denominated in SDR.”

The People’s Bank of China official referenced how this trend was already underway. Just last year Standard Chartered bank began to maintain accounts in SDR’s. “In terms of the first and secondary markets they will develop fairly well.”

Perhaps the most important segment that the Chinese official signaled was his reference that, “The Official Reserve SDR (OSDR) that allocation from the IMF is very important. [This allows] Central Banks to make the SDR an official asset, and easier for them to convert that asset into the reserve currency they need.”

What that means is that China will become an even greater player in the world money market.

Nomi Prins, an economist and historian stated when analyzing China’s economic positioning, “The expanding SDR basket is as much a political power play as it is about increasing the number of reserve currencies for central banks for financial purposes.”

*  *  *

As a reminder, the IMF's bylaws call for the institution's head office to be located in the largest member economy and since the IMF was launched in 1945, that has always been the United States, which currently has an effective veto over IMF decisions with a 16.5 percent share of its board votes.

But, as Reuters notes, economists estimate that China, with growth rates forecast above 6 percent, will likely overtake U.S. gross domestic product sometime over the next decade to become the world's largest economy in nominal terms.

 

Some, including the IMF, have argued that China already contributes more to global growth on a purchasing power parity basis, which adjusts for differences in prices.

The IMF last revised its quota system, or voting structure in 2010, but is set to launch another review next year.

Nothing lasts forever...

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Dragon HAwk's picture

Now that's a slimy pair of paws posing for a picture if i ever saw one. SDR's backed in Gold but they  hold the Gold. I see a slight problem with that.

blueyefinity@yahoo.com's picture

Chinks are the kikes of the East.

Nothing new to see here, just some communist wannabees joining hands with some true communists.

We need another joo purge ASAP.

The Jewish Engineered Hyper-Sexualization of Western Culture

http://dailywesterner.com/news/the-jewish-engineered-hyper-sexualization...


Looney's picture

 

The next IMF Chief should use Lagarde’s skin for the new Collection Purse  ;-)

Looney

TahoeBilly2012's picture

Take ur paper currency regime with you, thanks!

wee-weed up's picture

 

 

Hey... Good riddance, Lizard-skin Lady.

Don't let the door hit you in your frumpy Frog ass on the way out!

Troy Ounce's picture

 

Gold suppression schemes will continue ad infinitum.

If there is a God, he should strike down our financial Mandarins in 5..4..3..2. 1.

<crickets>

You see...nothing

WarPony's picture

Sassoons, opium importers of the world for centuries - RedSheilds of the East even, and patriarch based in China - are the zionistas ZH warned you about.

. . . _ _ _ . . .'s picture

With the UN HQ in Astana, it would make sense to move the IMF to Asia as well. Nursultan Nazarbayev, at a UN speech given between Obama's and Putin's, said it should happen. Looks like Lagarde agrees.

MFL5591's picture

He is prettier than she is!

4freedom78's picture

She is globalist evil bitch mummy,  she have to really live there at least she will get cancer 

True Blue's picture

Why not -she already looks like the Necronomicon.

InsaneBane's picture

You are not far off..the communist party of China was setup by the khazarian mafia.

Look at the right hand of Mao, Solomon Adler etc. And not to mention the Sassoon crime family, the Rothschilds of the east.

serotonindumptruck's picture

The (((parasite))) is seeking a new host to attach itself to for when the Western economies die.

InsaneBane's picture

You will love these books by Greg Felton, masterpieces:

- "The Host and The Parasite: How Israel's Fifth Column Consumed America"

- Enemies By Design: Inventing the War on Terrorism

- Exploding Middle East Myths: 15 Years of Fighting Zionist Propaganda

4freedom78's picture

Chinese sheeple are better slave than the western one

InsaneBane's picture

not if I look on the map...read Sun-Tzu

Blue Balls's picture

Lot's of ignorat goy in China to mooch off of.

overbet's picture

I think the FED would be pushing BTC before they allowed that to happen. 

JuliaS's picture

"Ms. Lagarde, are you now or have you ever been a member of the Communist Party?"

Justin Case's picture

As Michael Hudson said, the parisite has to stay alive and therefore must move to a new host. Merica is finished. China is the new host. The new currency will be the SDR for global trade and countries will use domestic currencies. Gold will earn you mileage at the global trade table. So Russia and China are stackin. Russia has zero debt.

The US ripped off the Dragon Family's gold. They issued them special numeric treasury bonds. They were confiscate at a border crossing. There was over a billion dollars seized. The bonds were deemed as counterfeit, but they were special issue to the Dragon family. They want their gold back.

A mysterious trillion dollar lawsuit filed on November 23, 2011 in the U.S. District Court for the Southern District of New York, claims that 145.5 billion dollars worth of gold was secretly given to the U.S. government in the mid-1930s by the then Nationalist government of China for safekeeping. [1] The lawsuit claims that 1934 U.S. Federal Reserve notes were issued to the Chinese government, and the gold transferred to the Federal Reserve Bank. [2] It is claimed that a total sum of almost one trillion dollars representing both the principal and accumulated interest of the 1934 Federal Reserve notes was fraudulently taken from the plaintiff, Neil Keenan, an agent for the owners, a mysterious Asian entity called “The Dragon Family.” What makes the lawsuit worth paying attention to is that involves the unresolved June 2009 "Chiasso incident" where two Japanese citizens were caught on a train in Italy near the Swiss border town of Chiasso, while traveling with 134.5 billion dollars in US Federal Reserve notes, bonds and other financial instruments. [3] The "Chiasso incident" involves a separate but complementary set of high denomination US Federal Reserve notes that have a similar origin, history and ownership.

The U.S. District Court lawsuit has aroused considerable controversy over its authenticity and the ownership of the 145.5 billion in Federal Reserve notes, bonds and other financial instruments. The lawsuit was filed by William Mulligan Jr and Justin Gardner from Bleakley Platt and Schmidt, a reputable New York law firm. [4]   The principal plaintiff in the lawsuit, Neil Keenan, claims to have been defrauded by a number of official government agencies and political figures including a little known organization called the Office of International Treasury Control (OITC), and its principal officers Dr Ray Dam (President) and David Sale (Deputy Chief of the Council for Cabinet of OITC). On the other hand, Sale claims that Keenan and his accomplices fraudulently gained possession of the bonds from the OITC. Importantly, neither of the two parties contesting ownership of the bonds dispute their validity.

http://exopolitics.org/archived/Study-Paper-13.htm

JerseyJoe's picture

Wait... you cited a paper by an author who also wrote this?

 Michael E. Salla, M.A., PhD., is the author of Exposing US Government Policies on Extraterrestrial Life (2009) and Exopolitics: Political Implications of the Extraterrestrial Presence(2004)

 

OooooKay.  

Crazy joe divola's picture

The beast system is almost upon us

besnook's picture

the beast system is upon us. the last act has not played yet.

JRev's picture

No mandatory mark on the hand or forehead yet - or was that part "metaphorical," too? >_<

Why is everything in Revelation a metaphor except the Mark of the Beast financial system? <___<

ebworthen's picture

Just fine with me if the International Malevolence Fund is in Mao's P.L.A. run slave camp.

Especially if the U.S. has nothing to do with it.

finametrics's picture

its not great. but ill take the gooks over the tribal pedo's anyday.

wisehiney's picture

"Pssst......Chen Siqing, if you will keep up the stimulus, you can get a blowjob from a dried up old french skank!"

besnook's picture

it is more likely that the imf becomes a western charity bank funded by asia.

medium giraffe's picture

Xi Jinping seems to have picked up a parasite.

JackMeOff's picture

Always follow the money until your demise.  Just ask the Anglo-French Financial Commission after WW1

nmewn's picture

Well, she always has been a big fan of "government sponsored entities" so why not? ;-)

Rick Cerone's picture

That's a great idea.

Let the Chinese deal with these EU Nazis.

RedBaron616's picture

The IMF is not a EU invention or institution.

Rick Cerone's picture

It smells like EU Nazi filth.

RedBaron616's picture

Good! Let China pay for the IMF as well. If China follows IMF direction, their economy will be in the toilet even faster than they can do it themselves! Bon Voyage, IMF!

Bill of Rights's picture

Good they can fucken fund it too... see ya

Mena Arkansas's picture

So now that the tribe has sucked the US dry they are lining up their next host?

https://en.wikipedia.org/wiki/Parasitism

Promethus's picture

Throw in the UN going to China and you have my vote.

opport.knocks's picture

There has been speculation for a while that the Jew World Order would head there next after they cannibalize what is left of the USA. Though what I personally know of the Chinese they would not tolerate their BS. Who knows for certain, if the state can maintain tight control through a small elite group at the top it could work.

The USA had to be crushed via a huge debt Ponzi, too many "freedoms" running around loose could cause trouble.

Dan&#039;l's picture

Ol' Puke face Fwenchie twat works for PM Marckerl. Pathetic fucks in Fwance suck!

Hyjinx's picture

Great! GTFO motherfuckers!

opport.knocks's picture

One chart, Fig.96, has a glaring error. It has the USSR "Empire" (lol) going back to 1820, 100 years before the USSR existed.

Infinite QE's picture

The zionist progression has been UK>America>China as they will now use China as their world enforcer for a world set to be run out of Jerusalem. Trump is the last stooge and set to usher this in under President Kushner.

uhland62's picture

Not necessarily. China will use the zionists as long as they need them but they will be dropped before the zionists use China.

chosen's picture

A chinaman once told me that the only thing worse than a joo is chinaman.

JailBanksters's picture

Well that's a kick in the nuts for Washington

On the other hand, Putin kicked the Rothschilds out of Russia, and this would

put them that much closer again.