"Dear President Trump: America Is In For A Rude Awakening In January"

Authored by James Rickards via DailyReckoning.com,

Dear President Trump,

Over the last couple of years I’ve been all over TV… from Fox News to CNBC, CNN and Bloomberg. I’ve been telling our fellow Americans that the financial global elite was planning to issue their own globalist currency called special drawing rights, or SDRs.

And that those elites would use this new currency to replace the U.S. dollar as the global reserve currency.

I’ve even written about this extensively in my best-selling booksThe Road to Ruin and The New Case for Gold.

I’m sure some people in the mainstream media thought I was out of line — but the United Nations and the International Monetary Fund (IMF) have both confirmed this plan to replace the U.S. dollar is real. I’ve made this warning many times, but it seems to be falling on deaf ears. That’s why I’m writing directly to you.

Here’s the proof that the U.S. dollar is under attack, right in front of our eyes:

The UN said we need “a new global reserve system… that no longer relies on the United States dollar as the single major reserve currency.”

 

And the IMF admitted they want to make “the special drawing right (SDR) the principal reserve asset in the [International Monetary System].”

More recently, the IMF advanced their plan by helping private institutions, such as the UK’s Standard Chartered Bank, issue bonds in SDRs.

Although our mainstream media ignored this major event, the UK media reported:

SDR Special Drawing Rights

This is all happening. And on January 1st, 2018, this trend to replace the U.S. dollar will accelerate. That’s when the global elite will implement a major change to the plumbing of our financial system.

It’s a brand-new worldwide banking system called Distributed Ledger Technology. And it will have a huge impact on seniors who are now preparing for retirement.

When this system goes live, many nations will be able to dump the U.S. dollar for SDRs.

For now, the U.S. dollar is still the world’s reserve currency. Other nations have to hold and use the U.S. dollar for international trade, instead of their own currencies.

This creates a virtually unlimited demand for U.S. dollars, which allows us to print trillions of dollars each year to pay for wars, debt and anything we want. It keeps our country operating.

Now, we can see that the global elites are working to unseat the U.S. dollar as the global reserve currency.

Here are the three key pieces of information that prove this will happen.

Fact #1 — The IMF issues a globalist currency called special drawing rights, or SDRs.

Fact #2 — The IMF has confirmed they want to replace the U.S. dollar with SDRs.

Fact #3 — The IMF has confirmed Distributed Ledgers can be used for “currency substitution”… and they’ve even set up a special task force to speed up implementation.

The IMF is using this technology to create an SDR payment system, because that’s the currency they issue.

IMF Lagarde Special Drawing Rights

As you know, Christine Lagarde, head of the IMF, is the woman in the middle.

When asked about the task force, she said:

As I see it, all this amounts to a brave new world for the financial sector.”

Yes, a brave new world where the dollar is no longer the world reserve currency.

Barbara C. Matthews, a former US Treasury Department attaché to the European Union, has reached the same conclusion.

She said the link between the globalists’ currency and Distributed Ledgers “is impossible to avoid.”

And that “the IMF seems to be exploring the possibility of permitting a broader use of [their globalist currency] beyond internal transactions among member central banks.”

Make no mistake, if the IMF is planning to use Distributed Ledgers to replace the U.S. dollar with SDRs. And just to be clear, when SDRs take over, the American people will be left with devalued dollars.

Once other nations start accumulating the globalist currency through Distributed Ledgers, they will no longer need to hold dollars. Once Distributed Ledgers go live, other nations will no longer need to buy Treasury bonds.

And that means our government — your government — will no longer be able to finance its normal operations, including welfare programs like Social Security. For those who have their retirement account parked in stocks, they could watch it evaporate in a matter of days. The weakest companies in the stock market could collapse once this plan goes live.

Just look what happened the last time we had a big change in our global financial system. In 1971, Nixon announced the U.S. would no longer officially trade dollars for gold. That created a lot of uncertainties, turning that decade into a nightmare for stock investors.

Take a look… the Dow Jones, an index of “stable” blue chip stocks (the kind most retirees like to hold), was cut in half. Stock investors bailed out of the market and, for the most part, didn’t come back for a decade.

Dow Jones Historical Chart

I expect something similar once Distributed Ledgers go live.

The transition from a U.S. dollar system to a new system dominated by SDRs will be messy. Stocks will collapse… and will stay down. There will be no recovery this time, because the U.S. government won’t be able to come to the rescue like they did in 2008.

You won’t even have funding for normal operations, let alone enough funds to save stock investors.

I know that governments have been patiently watching Distributed Ledger (often referred to as blockchain) technology develop and grow outside their control for the past eight years. Libertarian supporters of Distributed Ledgers celebrate this lack of government control.

Yet, their celebration is premature, and their belief in the sustainability of powerful systems outside government control is naïve. Governments don’t like competition especially when it comes to money.

You probably know that you, or any government, cannot stop Distributed Ledger technology — in fact you probably don’t want to. Governments and monetary elites want to control it using powers of regulation, taxation, and investigation.

An elite U.S. legal institution called the Uniform Law Commission, which proposes model laws intended for adoption in all fifty states, has released its latest proposal called the “Uniform Regulation of Virtual Currency Businesses Act.”

This new law will not only provide a regulatory scheme for state regulators, but will also be a platform for litigation by private plaintiffs and class action lawyers seeking recourse against real or imagined abuses by digital coin exchanges and facilities.

We know the U.S. government will want to use this technology for its benefit. One step toward government control just occurred a few weeks ago.

On August 1, 2017, the SEC announced “Guidance on Regulation of Initial Coin Offerings,” the first step toward requiring fundraising through Distributed Ledger, or blockchain-based tokens to register with the government.

But consider the following additional developments:

  • On August 1, 2017, the World Economic Forum, host body to the Davos conference of global super-elites, published a paper entitled “Four reasons to question the hype around blockchain.”
  • On August 7, 2017, China announced they will begin using Distributed Ledger technology to collect taxes and issue “electronic invoices” to citizens there.

Perhaps most portentously, the International Monetary Fund (IMF) has weighed in.

In a special report dated June 2017, the IMF had this to say about Distributed Ledgers: The IMF favors control by a “pre-selected group of participants” or “one organization,” rather than allowing “anyone” to participate.

This paper should be viewed as the first step in the IMF’s plan to migrate its existing form of world money, the SDR, onto a DLT platform controlled by the IMF.

They’re telling you exactly what their plan is. It would be foolish to ignore them, or assume the U.S. dollar will remain the global reserve currency much longer once this plan is implemented, as early as January 1, 2018.

You know the global elites’ aren’t your biggest fan. You know the U.S. dollar has been under attack.

This is the global financial elites’ plan to remove the U.S. dollar from its position of power and to attack your administration all at once.

Who do you think American’s will blame when the stock market crashes, or Social Security runs out? We can hear the talking heads already.

Best,

Rickards Signature

 

 

 

 

 

Comments

Escrava Isaura evoila Mon, 09/11/2017 - 04:38 Permalink

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IMF is not a sovereign nation. It doesn’t have an army and muscle to enforce anything. IMF is just a bank that reports to the US Treasury. An extension of US power. It’s astonishing the length of idioticy that the elites say and do to keep earning a pay check.    

In reply to by evoila

mtl4 Escrava Isaura Mon, 09/11/2017 - 08:07 Permalink

Jim misses the mark here a bit, a weaker USD would be better for the US not worse.......SDR's are a great idea but they will need to go against blockchain tech in the future as well so it's not a slam dunk in the least.  Folks would be wise to have some physical assets too as an insurance policy against all this mess coming in the not so distant future.

In reply to by Escrava Isaura

thunderchief abyssinian (not verified) Mon, 09/11/2017 - 06:25 Permalink

Why isn't it mentioned in this article that the US dollar is the biggest component of the SDR, IE never ending dollar demand.  The SDR neatly tucks the USD and a few other flawed abused western currencies like the Yen, Euro etc, under one big tent.  Power and safety in numbers.   Do agree Domestic USA will suffer, but since when has that changed for the Average American? 

In reply to by abyssinian (not verified)

ET (not verified) Clock Crasher Sun, 09/10/2017 - 23:33 Permalink

Jim Willie is crazy.I listened to him and his paranoia is in the stratosphere.His interviewers would constantly try to steer him away from his black helicopter visions. The 9-11 attack was a bank heist stealing $100 billion in Gold and bearer bonds is one of his theories.He is often tangential and usually a complete waste of time. He probably needs to get on Seroquel or Haldol.

In reply to by Clock Crasher

ET (not verified) Clock Crasher Sun, 09/10/2017 - 23:45 Permalink

Yes, I also listened to his interviews on YouTube. He usually makes his rounds with the conservative vloggers while hiding from the black helicopters in Costa Rica.Completely nuts.Usually takes other people's ideas and adds to them to give them a more paranoid touch.And I don't care much about his statistics background. That's his hook to get the less educated to pay attention to him.When you attain a certain amount of education, you can see through the nonsense. To give you an idea of how paranoid he is, even Dave from X22 Report has to remind him to talk about the topics that he wants to talk about.

In reply to by Clock Crasher

HRClinton ET (not verified) Mon, 09/11/2017 - 02:58 Permalink

Agree. Sad but true. Nut job. There's an audiences and market for that too, alas.I've also seen Willie take other people's ideas and add to them, to give them a more paranoid touch.It's called "Plagiarizing with pride" - let someone else do the heavy lifting, and then step in to "add value". Only there is little or no "value added", if you pay attention and think for yourself. 

In reply to by ET (not verified)

sparksmass Clock Crasher Mon, 09/11/2017 - 01:00 Permalink

Willie is full of shit.  My guess is its a plan to sell more newsletters by saying far-out things that nobody has ever heard before, making you think he has some inside information or sources.  One time one of his posts said that the Chinese flag had flown over the Dallas Fed, the US diplomatic staff had been expelled from Bahrain, and the CIA wore insignia on their lapels that was the same as the SS wore.  I challenged him to provide any proof of any of that whatsoever, even just a link to where anyone had even said it before, and he was unable to do so, and finally admitted it was bullshit.  I have always ignored him since.

In reply to by Clock Crasher

aurum4040 sparksmass Mon, 09/11/2017 - 01:23 Permalink

Jim Rickards and Jim Willie are two different individuals. Jim Rickards worked for LTCM as an attorney.. testified before Congress...both Jim's have similar views but Rickards is far more sane then Willie. Willie is a nut job, he's been on point w alot, has acid tripped visioned more. Note the distributed ledger tech - Ethereum is the one that is going to handle this. JP Morgan is one of the bigs behind the push to add a privacy option to ETH transactions which will be implemented in the Metropolis Fork in about two weeks. It's a ZCash overlay on top of Ethereum. Among many other updates. Take a look at the Metro update all, it's easy to see where the future of crypto/DL is going. And it isn't BTC. 

In reply to by sparksmass

strannick ET (not verified) Mon, 09/11/2017 - 00:08 Permalink

If you think Jim Willie's 911 is crazy...How about this theory of 911 thats making the rounds, that we're supposed to swallow...''4 guys with student pilot's licenses (not even private pilot's licences) evade Air Traffic Control, and manage to fly jumbo jets into two skyscrappers, and into the Pentagon. Then, for some strange reason, even though they were hit on their very top floors, the two skyscappers collapse into their footprints just because. Then, out of sympathy for his two fallen brother skyscrappers, a third building, WTC 7, just falls into its footprint for the heck of it. Meanwhile other guys coincidently bet on the insurance of the skyscrappers, and against the stock of the airline companies. But instead of us believing this is as ludicrious, and obviously an ''inside job'', were supposed to believe it was a wild eyed A-rab in the Afghan hills.Is that 10 times crazy as Jim Willie's theory, or what?

In reply to by ET (not verified)

HardAssets ET (not verified) Mon, 09/11/2017 - 09:37 Permalink

He's entertaining though.

A mixed bag of insights and insanity.

Undoubtedly he didn't worry about nuclear war with N. Korea - - because he believes space aliens will neutralize any nuke bombs. I kid you not.

Financial program interviewers keep him off and shielded from questions in these bizarre areas. For obvious reasons.

Maybe you need to be half crazy to think outside the box. I enjoy listening to him and take it all with grain of salt.

In reply to by ET (not verified)

HRH Feant2 (not verified) Clock Crasher Sun, 09/10/2017 - 23:40 Permalink

Took me awhile to figure him out. I like him. He rambles but he will tell you the truth.

I also understand why he is fucked up a lot of the time. You can only deal with idiocy so much until you want to pound your face into a wall or cop a buzz. Copping a buzz is less detrimental.

In reply to by Clock Crasher