JEWISH KING JESUS IS COMING AT THE RAPTURE FOR US IN THE CLOUDS-DON'T MISS IT FOR THE WORLD.THE BIBLE TAKEN LITERALLY- WHEN THE PLAIN SENSE MAKES GOOD SENSE-SEEK NO OTHER SENSE-LEST YOU END UP IN NONSENSE.GET SAVED NOW- CALL ON JESUS TODAY.THE ONLY SAVIOR OF THE WHOLE EARTH - NO OTHER.
1 COR 15:23-JESUS THE FIRST FRUITS-CHRISTIANS RAPTURED TO JESUS-FIRST FRUITS OF THE SPIRIT-23 But every man in his own order: Christ the firstfruits; afterward they that are Christ’s at his coming.ROMANS 8:23 And not only they, but ourselves also, which have the firstfruits of the Spirit, even we ourselves groan within ourselves, waiting for the adoption, to wit, the redemption of our body.(THE PRE-TRIB RAPTURE)
WILL THE EUROPEAN UNION CONTROL THE WORLD ECONOMIES
http://israndjer.blogspot.ca/2015/08/will-european-union-control-worlds.html
HOARDING OF GOLD AND SILVER
JAMES 5:1-3
1 Go to now, ye rich men, weep and howl for your miseries that shall come upon you.
2 Your riches are corrupted, and your garments are motheaten.
3 Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days.
REVELATION 18:10,17,19
10 Standing afar off for the fear of her torment, saying, Alas, alas that great city Babylon, that mighty city! for in one hour is thy judgment come.(IN 1 HR THE STOCK MARKETS WORLDWIDE WILL CRASH)
17 For in one hour so great riches is come to nought. And every shipmaster, and all the company in ships, and sailors, and as many as trade by sea, stood afar off,
19 And they cast dust on their heads, and cried, weeping and wailing, saying, Alas, alas that great city, wherein were made rich all that had ships in the sea by reason of her costliness! for in one hour is she made desolate.
EZEKIEL 7:19
19 They shall cast their silver in the streets, and their gold shall be removed:(CONFISCATED) their silver and their gold shall not be able to deliver them in the day of the wrath of the LORD: they shall not satisfy their souls, neither fill their bowels: because it is the stumblingblock of their iniquity.
LUKE 2:1-3
1 And it came to pass in those days, that there went out a decree from Caesar Augustus, that all the world should be taxed.
2 (And this taxing was first made when Cyrenius was governor of Syria.)
3 And all went to be taxed, every one into his own city.
REVELATION 13:16-18
16 And he(THE FALSE POPE WHO DEFECTED FROM THE CHRISTIAN FAITH) causeth all,(IN THE WORLD ) both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:(MICROCHIP IMPLANT)
17 And that no man might buy or sell, save he that had the mark,(MICROCHIP IMPLANT) or the name of the beast,(WORLD DICTATORS NAME INGRAVED ON YOUR SKIN OR TATTOOED ON YOU OR IN THE MICROCHIP IMPLANT) or the number of his name.(THE NUMBERS OF HIS NAME INGRAVED IN THE MICROCHIP IMLPLANT)-(ALL THESE WILL TELL THE WORLD DICTATOR THAT YOUR WITH HIM AND AGAINST KING JESUS-GOD)
18 Here is wisdom. Let him that hath understanding count the number of the beast:(WORLD LEADER) for it is the number of a man; and his number is Six hundred threescore and six.(6-6-6) A NUMBER SYSTEM (6006006)OR(60020202006)(SOME KIND OF NUMBER IMPLANTED IN THE MICROCHIP THAT TELLS THE WORLD DICTATOR AND THE NEW WORLD ORDER THAT YOU GIVE YOUR TOTAL ALLIGIENCE TO HIM AND NOT JESUS)(ITS AN ETERNAL DECISION YOU MAKE)(YOU CHOOSE YOUR OWN DESTINY)(YOU TAKE THE DICTATORS NAME OR NUMBER UNDER YOUR SKIN,YOUR DOOMED TO THE LAKE OF FIRE AND TORMENTS FOREVER,NEVER ENDING MEANT ONLY FOR SATAN AND HIS ANGELS,NOT HUMAN BEINGS).OR YOU REFUSE THE MICROCHIP IMPLANT AND GO ON THE SIDE OF KING JESUS AND RULE FOREVER WITH HIM ON EARTH.YOU CHOOSE,ITS YOUR DECISION.
REVELATION 6:5-6
5 And when he had opened the third seal, I heard the third beast say, Come and see. And I beheld, and lo a black horse; and he that sat on him had a pair of balances in his hand.
6 And I heard a voice in the midst of the four beasts say, A measure of wheat for a penny, and three measures of barley for a penny; and see thou hurt not the oil and the wine.(A DAYS WAGES FOR A LOAF OF BREAD)
DOCTOR DOCTORIAN FROM ANGEL OF GOD
then the angel said, Financial crisis will come to Asia. I will shake the world.- -------------------------------------------------------------------------------------------------------------------
REVELATION 13:1-(BREAKDOWN BY THE BIBLE)
1 And I stood upon the sand of the sea, and saw a beast rise up out of the sea, having seven heads and ten horns, and upon his horns ten crowns, and upon his heads the name of blasphemy.(THE EU AND ITS DICTATOR IS GODLESS)
SAND OF THE SEA-POSSIBLE MEANING HERE GENESIS 22:16-17
16 And said, By myself (GOD) have I sworn, saith the LORD, for because thou hast done this thing, and hast not withheld thy son,(ABRAHAM) thine only son:(ISAAC)
17 That in blessing I will bless thee, and in multiplying I will multiply thy seed as the stars of the heaven, and as the sand which is upon the sea shore; and thy seed shall possess the gate of his enemies;
REVELATION 20:8
8 And (SATAN) shall go out to deceive the nations which are in the four quarters of the earth, Gog and Magog, to gather them together to battle: the number of whom is as the sand of the sea.(MILLIONS)(THE FIRST GOG-MAGOG OR RUSSIA-ARAB-MUSLIM SLAUGHTER MIGHT OCCUR JUST BEFORE THE DICTATOR COMES OUTTA THE SEA.THIS GOG-MAGOG WAR IS AFTER JESUS HAS RULED AND REIGNED ON EARTH FOR ONE THOUSAND YEARS).
BEAST-IS THE WORLD POLITICAL LEADER THAT COMES OUT OF THE SEA OF TURBULENCE.FROM THE REVIVED ROMAN EMPIRE OR CURRENT EUROPEAN UNION.DANIEL 9:26 (COMES FROM ROME) (EU)
26 And after threescore and two weeks shall Messiah be cut off, but not for himself: and the people of the prince that shall come shall (ROMANS IN AD70 DESTROYED THE 2ND TEMPLE IN JERUSALEM) destroy the city and the sanctuary; and the end thereof shall be with a flood, and unto the end of the war desolations are determined.
SEA-ISAIAH 57:20 But the wicked are like the troubled sea, when it cannot rest, whose waters cast up mire and dirt.
7 HEADS-IS THE 7TH WORLD EMPIRE ON EARTH-THE EUROPEAN UNION.AND ALSO THE 7 HILLS OF THE VATICAN IN ROME.ANOTHER CONFIRMATION THIS DICTATOR AND FALSE PROPHET BOTH COME FROM THE EUROPEAN UNION.REVELATION 17:9-10
9 And here is the mind which hath wisdom. The seven heads are seven mountains, on which the woman sitteth.(THE VATICAN IN ROME IS BUILT ON 7 HILLS OR MOUNTAINS)
10 And there are seven kings: five are fallen,(1-ASSYRIA,2-EGYPT,3-BABYLON,4-MEDO-PERSIA,5-GREECE) and one is,(IN POWER IN JOHNS AND JESUS DAY-6-ROME) and the other is not yet come; and when he cometh, he must continue a short space.(7TH-REVIVED ROMAN EMPIRE OR THE EUROPEAN UNION TODAY AND THE SHORT SPACE IS-THE EUROPEAN UNION WILL HAVE WORLD CONTROL FOR THE LAST 3 1/2 YEARS.BUT WILL HAVE ITS MIGHTY WORLD POWER FOR THE FULL 7 YEARS OF THE 7 YEAR TRIBULATION PERIOD.)
10 HORNS ARE THE 10 GLOBAL DIVISIONS THE EARTH WILL BE PUT IN-1 LEADER FOR EACH GLOBAL DIVISION ON EARTH.REVELATION 17:12-13
12 And the ten horns (NATIONS) which thou sawest are ten kings, which have received no kingdom as yet; but receive power as kings one hour with the beast.
13 These have one mind,(WORLD SOCIALISM) and shall give their power and strength unto the beast.
DANIEL 7:23-25
23 Thus he said, The fourth beast (EU,REVIVED ROME) shall be the fourth kingdom upon earth,(7TH WORLD EMPIRE) which shall be diverse from all kingdoms, and shall devour the whole earth, and shall tread it down, and break it in pieces.(TRADING BLOCKS-10 WORLD REGIONS/TRADE BLOCS)
24 And the ten horns out of this kingdom are ten kings(10 NATIONS-10 WORLD DIVISION WORLD GOVERNMENT) that shall arise: and another shall rise after them; and he shall be diverse from the first, and he shall subdue three kings.(THE EU (EUROPEAN UNION) TAKES OVER IRAQ WHICH HAS SPLIT INTO 3-SUNNI-KURD-SHIA PARTS-AND THE REVIVED ROMAN EMPIRE IS BROUGHT BACK TOGETHER-THE TWO LEGS OF DANIEL WESTERN LEG AND THE ISLAMIC LEG COMBINED AS 1)
THE CLUB OF ROME FOUNDER AURELIO PECCEI WANTS THE WORLD IN 10 REGIONAL TRADING BLOCKS
The Club Of Rome
Founded in 1968, the Club of Rome is a global think tank that deals with a variety of international political issues. According to its website, the Club of Rome is composed of "scientists, economists, businessmen, international high civil servants, heads of state and former heads of state from all five continents who are convinced that the future of humankind is not determined once and for all and that each human being can contribute to the improvement of our societies.
The Ten Kingdoms - The ten regions originated with the Club of Rome think tank, and was established by the United Nations. The Club of Rome was given the task of uniting Europe, and dividing the world into manageable blocks. Here's a map of the world, divided into the ten economic regions, which the United Nations and the Club of Rome call The Ten Kingdoms. From Gary Kah’s En Route to Global Occupation, page 40: “The Club of Rome had its beginnings in April of 1968…The Club of Rome has been charged with the task of overseeing the regionalization and unification of the entire world; the Club could therefore be said to be one step above the Bilderbergers in the one world hierarchy…On September 13, 1973, the Club released one such report entitled Regionalized and Adaptive Model of the Global World System…The document reveals that the Club has divided the world into ten political/economic regions, which it refers to as kingdoms. As the ten kingdoms/regions(TRADE BLOCS) come together even more in preparation for the reign of the world ruler, we will see the regionalizing of money, then a globalization of monetary exchange or the cashless society. (Revelation 13) Regarding the world and its division into economic regions:
Here are the countries for each region: Since this map was drawn in 1973,
HERES WHAT THE WORLD WOULD LOOK LIKE (SINCE THERE WILL BE WORLD GOVERNMENT IN THE FUTURE)
01 CANADA, U.S.A, MEXICO
02 SOUTHERN, CENTRAL AND LATIN AMERICAS
03 AUSTRALIA,NEW ZEALAND.
04 EUROPEAN UNION,WESTERN EUROPE
05 EASTERN EUROPE
06 JAPAN
07 SOUTH AND SOUTHEAST ASIA
08 CENTRAL ASIA
09 NORTH AFRICA, AND MIDEAST
10 CENTRAL AFRICA
THE CLUB OF ROME WANTS A WORLD CHARISMATIC DICTATOR (EITHER RELIGIOUS, POLITICAL OR SCIENTIFICAL) TO HEAD THIS WORLD GOVERNMENT. REV 13:3,7-8, DAN 7:23-24
WORLD POWERS IN THE END AGE TIME
NORTH - RUSSIA EZEK 38:1-2, 39:1-2
SOUTH - EGYPT DAN 11:42
EAST - CHINA DAN 11:44,REV 16:12
WEST - EUROPEAN UNION DAN 7:23-24 (NOT THE U.S.A)
HERES HOW I BELIEVE THE RESERVE CURRENCY WILL BE LIKE
http://israndjer.blogspot.ca/2013/01/obama-close-to-iran-create-muslim-state.html
https://www.youtube.com/watch?v=YWOgfK2_o3w
http://israndjer.blogspot.ca/2011/03/north-american-union-1-of-10-world.html
BANK FOR INTERNATIONAL SETTLEMENTS-WORLD BANK OF CENTRAL BANKERS.CENTRAL BANK LENDER ONLY.
INTERNATIONAL MONETARY FUND.ALL OTHER BANKS LENDER.
THE RESERVE CURRENCIES-PEGGED TO THE IMF SPECIAL DRAWING RIGHTS.(SDR)
HERE ARE THE 10 GLOBAL CURRENCIES I BELIEVE WILL BE IN THE SDR PEGGED RESERVE CURRENCY BASKET.THAT INCLUDES THE WHOLE WORLD.AND OUT OF THESE 10 WHICH EVER STRONGEST EUROPEAN UNION COUNTRY TAKES FULL CONTROL OF THE WORLD CURRENCIES.WHEN THE FINAL WORLD STOCK MARKET COLLAPSE OCCURS.THIS GIVES THE EUROPEAN UNION WORLD ECONOMIC CONTROL OF THE WHOLE EARTH. AND THEN THE EUROPEAN UNION IMPLIMENTS A WORLD MICROCHIP IMPLANT SYSTEM ON EVERY ONE WHO LIVES ON EARTH-ALL PEOPLE. OR THEY WILL BE KILLED-AND NOT BE ABLE TO BUY ANYTHHING-IF THEY WILL NOT RECIEVE THIS CHIP IMPLANT IN THEIR RIGHT HAND OR FOREHEAD.
REGION -01 - WORLD TRADE BLOC - USA DOLLAR PEGGED TO THE SRD
REGION-02 - WORLD TRADE BLOC - BRAZIL PEGGED TO THE SDR
REGION-03 - WORLD TRADE BLOC - AUSTRALIA PEGGED TO THE SDR
REGION-04 - WORLD TRADE BLOC - FRANCE OR SPAIN PEGGED TO THE SDR
REGION-05 - WORLD TRADE BLOC - RUSSIA PEGGED TO THE SDR
REGION-06 - WORLD TRADE BLOC - JAPAN PEGGED TO THE SDR
REGION-07 - WORLD TRADE BLOC - INDIA PEGGED TO THE SDR
REGION-08 - WORLD TRADE BLOC - CHINA PEGGED TO THE SDR
REGION-09 - WORLD TRADE BLOC - SAUDI-ARABIA PEGGED TO THE SDR
REGION-10 - WORLD TRADE BLOC - EGYPT PEGGED TO THE SDR
NOTE-UNDER WESTERN EUROPE-THIS WOULD USUALLY BE GERMANY BUT I BELIEVE GERMANY AND 2 OTHER EUROPEAN UNION COUNTRIES WILL BE BOOTED OUT OF THE EU AT SOME POINT IN THE FUTURE.
I BELIEVE THIS TO BE A IMPORT STORY. I NEVER HEARD ABOUT CHINA BEING TIED TO THE IMFS SPECIAL DRAWING RIGHTS. I BELIEVE ALL THE MAJOR CURRENCIES WILL BE PEGGED WITH THE IMFS SDRS. AND THE SDRS WILL BE THE NEW RESERVE CURRENCY INSTEAD OF THE DOLLAR. POSSIBLY AS EARLY AS 2016. MAYBE THATS WHY CHINA IS DEVALUING ITS CURRENCY IN THE LAST TWO WEEKS. SO IT CAN PEG ITSELF TO THE SDR RESERVE CURRENCY. IF THIS IS THE CASE. ALL THE CURRENCIES THAT PEG TO THE SDRS WILL HAVE TO DEVALUE THEIR CURRENCIES IN THE NEXT COUPLE OF MONTHS. SO WE MIGHT SEE A LOT OF VOLATILITY IN THE NEXT TWO MONTHS IN THE WORLD STOCK MARKETS.THAT IS IF I AM RIGHT ABOUT ALL THE MAJOR CURRENCIES PEGGING TO THE IMFS SDRS AS THE NEW RESERVE CURRENCY INSTEAD OF THE DOLLAR.
FED CENTRAL BANKERS MEETING - JACKSON HOLE
https://www.kansascityfed.org/publications/research/escp/symposiums/escp-2015
https://www.kansascityfed.org/publications/research/escp
IMF
http://www.imf.org/external/index.htm
WORLD BANK
http://www.worldbank.org/
BANKING UNION BEFORE EURO ADOPTION
http://blog-imfdirect.imf.org/2015/08/19/banking-union-before-euro-adoption-flak-jacket-or-straitjacket/
REVIEW SDR -RESERVE IMF CURRENCY
http://www.imf.org/external/np/exr/facts/sdrcb.htm
http://www.imf.org/external/pubs/ft/survey/so/2015/POL080415A.htm
http://www.imf.org/external/np/exr/faq/sdrallocfaqs.htm
http://www.imf.org/external/pp/longres.aspx?id=4975
http://www.imf.org/external/np/sec/pr/2015/pr15384.htm
http://www.imf.org/external/pp/longres.aspx?id=4978
http://www.imf.org/external/np/tre/sdr/proposal/2009/0709.htm
BANK FOR INTERNATIONAL SETTLEMENTS-THE CENTRAL BANKER OF THE WORLD.THAT LENDS ONLY TO CENTRAL BANKS OF ALL THE WORLDS COUNTRIES.
https://www.bis.org/
EUROPEAN CENTRAL BANK-The European Central Bank (ECB) is the central bank for Europe's single currency, the euro. The ECB’s main task is to maintain the euro's purchasing power and price stability in the euro area. The euro area comprises the 19 European Union countries that have introduced the euro since 1999. Our mission is to serve Europe’s citizens by maintaining price stability and safeguarding the value of the euro. Find out more about mission of the ECB, the Eurosystem and the Single Supervisory Mechanism.
https://www.ecb.europa.eu/ecb/html/index.en.html
A Big Announcement - IMF MIGHT ANNOUNCE A NEW RESERVE CURRENCY ON OR AROUND OCTOBER 20,2015
On or around October 20th of this year, the International Monetary Fund is going to make a huge announcement that could radically alter the financial markets, and initiate a transfer of wealth, unlike anything we've seen in more than three decades.We know the approximate date of this announcement because I recently accessed the IMF's meeting schedule.Like most official documents, it is filled with acronyms and insider jargon.But if you understand the markets, it's not too hard to figure out exactly what's going on-- what they'll really be deciding.I can tell you for certain that this meeting is all about a big potential shift in the world currency markets.As you probably know, the currency market is the world's largest, most vital marketplace.It's far, far larger than the stock market.
https://www.bis.org/cpmi/publ/d131.htm
Harmonisation of the Unique Transaction Identifier - consultative report-August 2015
G20 Leaders agreed in 2009 that all over-the-counter (OTC) derivatives contracts should be reported to trade repositories (TRs) as part of their commitment to reform OTC derivatives markets in order to improve transparency, mitigate systemic risk and protect against market abuse. Aggregation of the data reported across TRs is necessary to help ensure that authorities are able to obtain a comprehensive view of the OTC derivatives market and activity.Following the 2014 FSB Feasibility study on approaches to aggregate OTC derivatives data, the FSB asked the CPMI and IOSCO to develop global guidance on the harmonisation of data elements reported to TRs and important for the aggregation of data by authorities, including Unique Transaction Identifier (UTIs) and Unique Product Identifiers (UPIs).This consultative report is one part of the CPMI-IOSCO Harmonisation Group's response to its mandate. It focuses on the harmonised global UTI, whose purpose is to uniquely identify each OTC derivative transaction required by authorities to be reported to TRs. The final objective is to produce clear guidance as to UTI definition, format and usage that meets the needs of UTI users, is global in scale, and is jurisdiction-agnostic, thus enabling the consistent global aggregation of OTC derivatives transaction data.The report seeks general and specific comments and suggestions from responders by 30 September 2015, to be sent to both the CPMI secretariat and the IOSCO secretariat.
IMF will add Chinese Renminbi to SDR in 2016-Posted: 9th Aug 2015-Author: Willem Middelkoop
Schermafbeelding 2015-08-09 om 09.51.27One day the current fiat dollar reserve system will have to be replaced with something new, probably the IMF’s Special Drawing Rights (SDR), with or without some form of gold-backing.The SDRs, a new form of international reserve assets, were designed by the IMF in 1969, to take over the dollar’s role as a world reserve currency when needed. Soon after the fall of Lehman late 2008, the United Nations called for ‘a new Global Reserve System’ based on SDRs.Such a new Global Reserve System–what may be viewed as a greatly expanded use of SDRs, with regular or cyclically adjusted emissions calibrated to the size of reserve accumulations–could contribute to global stability, economic strength, and global equity, according to the UN.After the start of the credit crisis China felt the renminbi’s dependency on the dollar was problematic and they claim to be ‘trapped’ by the huge size of its dollar holdings. So China has been looking for an exit strategy ever since.In a 2009 speech, Governor Xiaochuan of the People’s Bank of China (the Chinese central bank) called for a new worldwide reserve currency system. He explained that the interests of the US and those of other countries should be ‘aligned’, which is not the case in the current dollar system. Xiaochuan suggested developing SDRs into a ‘super-sovereign reserve currency disconnected from individual nations and able to remain stable in the long run’.The OMFIF, a leading monetary think tank based in London, has also called for extending the SDR to include the so-called R-currencies – the renminbi, rupee, real, rand and ruble – and even possibly gold. Economist and Nobel prize winner Robert Mundell, one of the architects of the euro and an advisor to the Chinese government thinks a gold-linked SDR could be used to reset the international monetary system:‘There could be a kind of Bretton Woods type of gold standard where the price of gold was fixed for central banks and they could use gold as an asset to trade within central banks. The great advantage of that was that gold is nobody’s liability and it can’t be printed. So it has a strength and confidence that people trust. So if you had not just the United States but the United States and the euro (area) tied together to each other and to gold, gold might be the intermediary and then with the other important currencies like the yen and Chinese Yuan and British pound all tied together as a kind of new SDR that could be one way the world could move forward on a better monetary system.’There are some who explain China’s rush to build up its gold reserves, just updated from 1000 to 1600 tons, by inferring that the US would prefer to revalue gold together with the EU and China, instead of going it all alone. As soon as China’s gold reserves as a percentage of GDP reach the same level as those of the US and the EU, the three powers could lead the world in a smooth transition to a system based on SDRs with a form of gold backing as proposed by Mundell and the IMF.‘Under the current valuation method, the SDR currency basket is reviewed every 5 years. The last SDR valuation review was conducted in 2010. The review concluded that four currencies (euro, Japanese yen, British pound, and U.S. dollar) would continue to comprise the SDR basket. At that point China the renminbi (RMB) was not included in the SDR basket as it was not judged to be freely usable and thus did not meet the second selection criterion’, according to a statement on the IMF’s website.But now after years of study and negotiations – remember Christine Lagarde’s 4 day-trip to China in March this year – the IMF will decide for an extension of the current valuation basket for a period of nine months to September 30, 2016 and will make a formal decision about the new currency basket before the end of 2015.According to the IMF:‘This proposal would respond to concerns expressed previously by SDR users that introducing a new basket on the first trading day of the year can expose them to increased risks and costs. It would also help reduce uncertainty for SDR users and facilitate continued smooth SDR-related operations, while allowing adequate time to make necessary changes to contractual arrangements, including in the event the Board ultimately decides to add a new currency (RMB-WM) to the basket.’From these statements it becomes quite clear that the chances are very high the IMF will include the RMB in a new SDR currency basket, not on January 1st 2016, but nine months later. This is more or less confirmed by the following quote by senior IMF officials during a conference call;IMF official: ‘.. coming towards a decision by the end of the year, but waiting for the implementation till next year.’With this reference to implementation, the decision already seems to be made. Why else would anyone discuss a pending implementation if no major changes were to be made to the currency basket? We hope Beijing will read the IMF statement the same way and they will have the patience to wait another long year..
Markets | Thu Apr 2, 2015 7:30am EDT-China knocking on door of IMF's major league, U.S. wavers-REUTERS
BRUSSELS | By Paul Taylor-China is closer to joining the major league of reserve currencies with a deal possible later this year to include the yuan in the International Monetary Fund's unit of account, international finance officials say.However the United States, where China's growing economic and political muscle is a source of strategic concern in Congress, is reluctant to add the yuan so soon to the basket of currencies that make up the IMF's Special Drawing Rights.U.S. Treasury Secretary Jack Lew said after a visit to Beijing this week the yuan was not yet ready to join the virtual currency that defines the value of the IMF's reserves, used for lending to countries in financial difficulty."While further liberalization and reform are needed for the (yuan) to meet this standard, we encourage the process of completing these necessary reforms," Lew said in a speech in San Francisco on Tuesday.The yuan, also known as the renminbi or RMB, is already the world's fifth most-used trade currency. Beijing has made strides this year in introducing the infrastructure needed to float it freely on global capital markets.European members of the Group of Seven major industrialized economies - Germany, Britain, France and Italy - favor adding the yuan this year to the basket that comprises the dollar, the euro, the yen and the pound sterling. Japan, like the United States, is more cautious, the officials said.The IMF's board will hold an initial discussion in May on China's request and a full five-yearly review of the SDR's composition will be conducted later in the year ahead of a decision expected in November, IMF officials said."The German side supports China's goal to add the RMB to the SDR currency basket based on existing criteria," Joachim Nagel, a member of the executive board of the German central bank, said last weekend at a high-level forum in Boao, on the southern Chinese island of Hainan.The upcoming review could be a good opportunity to introduce the yuan into the basket, he said, adding: "We appreciate China's recent development and progress towards liberalization."Chinese Premier Li Keqiang asked IMF chief Christine Lagarde last month to include the yuan in its SDR basket, pledged to speed up its "basic convertibility" and said China hoped to play an active role in international efforts to maintain financial stability, state news agency Xinhua said.-PHASED ENTRY?-A euro zone central bank source said one route could see a phased entry into the SDR, linked to fulfilling the official criterion that the yuan must be "freely usable", which Western officials interpret as full convertibility.It would be the first emerging market currency to join the SDR, marking another stage in China's rise as a global economic player and requiring the United States to accept a dilution of its unrivalled power in international finance.While the Europeans are vying for commercial advantage in the world's second biggest economy, Washington sees Beijing also as an authoritarian strategic challenger that may not feel bound by rules written by the West.The U.S. Congress has held up ratification of a 2010 reform of voting rights in the IMF intended to give China and other emerging economies more say.Britain, keen to secure pole position for London as an offshore center for international trading in yuan, has taken the lead in pressing publicly for China's admission to the SDR.David Ramsden, chief economic adviser at the UK Treasury, said much had changed since the makeup of the virtual currency was last reviewed in 2010, and including the yuan was now a "very live issue".Germany has ambitions to lure yuan trading to Frankfurt, home of the European Central Bank, and was irked when Britain last month jumped ahead of its EU partners to become a founder member of the China-led Asian Infrastructure Investment Bank.Washington suffered a diplomatic reverse after trying to dissuade its allies from joining the Chinese initiative, seen as a potential rival to the World Bank and Asian Development Bank, dominated by the United States and Japan.Keen to avoid a second rift with Europe - even though the United States can block IMF decisions - Lew focused on the terms for admitting the yuan to the SDR rather than the timing."China will need to successfully complete difficult fundamental reforms, such as capital account liberalization, a more market-determined exchange rate, interest rate liberalization, as well as strengthening of financial regulation and supervision," he said.While Washington believed Beijing has stopped intervening to weaken its currency, Lew said the true test would come when market pressure increased for the yuan to strengthen.David Marsh, managing director of the central banking think-tank OMFIF, sees a "grand bargain" between China, the United States and the IMF taking shape under which Beijing would enter the heart of global finance in exchange for turning the yuan into a strong currency on world financial markets.The Chinese central bank was using its $3.8 trillion in reserves to keep the yuan steady against the dollar. The Chinese currency has appreciated by 11 percent in trade-weighted terms in the past year."All of this is a potential challenge for the dollar and its pivotal position in world money," Marsh said in a briefing.While there is no fixed set of indicators to measure the eligibility of a currency for the SDR basket, in 2011 IMF staff set out a number of indicators that could show whether a currency is "freely usable":- currency composition of official reserve holdings;-- currency denomination of international banking liabilities; - currency denomination of international debt securities;-- volume of transactions in foreign exchange spot markets.More than 60 central banks hold the yuan in their reserves, according to China-focused bankers in London. Offshore trading in the yuan CNH= soared some 350 percent on Thomson Reuters trading platforms last year and rival platform EBS said the yuan was one of its top five traded currencies.A former high IMF official, speaking on condition of anonymity, said 2015 was too soon for the yuan to qualify, but the Chinese central bank could use the review to persuade Communist Party leaders to move further towards convertibility.Zhu Min, the IMF's Chinese deputy managing director, noted the yuan was increasingly used in trade and was also growing in capital markets."Clearly the RMB is already qualified, in a sense, on trade activity," he told reporters at the Boao Forum. "But on the freely usable side ... there are still some obstructions."(This story corrects paragraph 18, changing to Asian Development Bank)(Additional reporting by Adam Jourdan in Boao, China, Rory Carroll in San Francisco, Randall Palmer in Ottawa and Patrick Graham in London; Writing by Paul Taylor. Editing by Mike Peacock.)
Factsheet-Special Drawing Rights (SDRs)-April 9, 2015
The SDR is an international reserve asset, created by the IMF in 1969 to supplement its member countries’ official reserves. Its value is based on a basket of four key international currencies, and SDRs can be exchanged for freely usable currencies. As of March 17, 2015, 204 billion SDRs were created and allocated to members (equivalent to about $280 billion).The role of the SDR-The SDR was created by the IMF in 1969 to support the Bretton Woods fixed exchange rate system. A country participating in this system needed official reserves—government or central bank holdings of gold and widely accepted foreign currencies—that could be used to purchase the domestic currency in foreign exchange markets, as required to maintain its exchange rate. But the international supply of two key reserve assets—gold and the U.S. dollar—proved inadequate for supporting the expansion of world trade and financial development that was taking place. Therefore, the international community decided to create a new international reserve asset under the auspices of the IMF.Only a few years after the creation of SDRs, the Bretton Woods system collapsed and the major currencies shifted to a floating exchange rate regime. In addition, the growth in international capital markets facilitated borrowing by creditworthy governments. Both of these developments lessened the need for SDRs. However, more recently, the 2009 SDR allocations totaling SDR 182.6 billion have played a critical role in providing liquidity to the global economic system and supplementing member countries’ official reserves amid the global financial crisis.The SDR is neither a currency, nor a claim on the IMF. Rather, it is a potential claim on the freely usable currencies of IMF members. Holders of SDRs can obtain these currencies in exchange for their SDRs in two ways: first, through the arrangement of voluntary exchanges between members; and second, by the IMF designating members with strong external positions to purchase SDRs from members with weak external positions. In addition to its role as a supplementary reserve asset, the SDR serves as the unit of account of the IMF and some other international organizations.-Basket of currencies determines the value of the SDR-The value of the SDR was initially defined as equivalent to 0.888671 grams of fine gold—which, at the time, was also equivalent to one U.S. dollar. After the collapse of the Bretton Woods system in 1973, the SDR was redefined as a basket of currencies. Today the SDR basket consists of the euro, Japanese yen, pound sterling, and U.S. dollar. The value of the SDR in terms of the U.S. dollar is determined daily and posted on the IMF’s website. It is calculated as the sum of specific amounts of the four basket currencies valued in U.S. dollars, on the basis of exchange rates quoted at noon each day in the London market.The basket composition is reviewed every five years by the Executive Board, or earlier if the IMF finds changed circumstances warrant an earlier review, to ensure that it reflects the relative importance of currencies in the world’s trading and financial systems. In the most recent review (in November 2010), the weights of the currencies in the SDR basket were revised based on the value of the exports of goods and services, and the amount of reserves denominated in the respective currencies that were held by other members of the IMF. These changes became effective on January 1, 2011. In October 2011, the IMF Executive Board discussed possible options for broadening the SDR currency basket. Most directors held the view that the current criteria for SDR basket selection remained appropriate. The next review is currently scheduled to take place by the end of 2015.-The SDR interest rate-The SDR interest rate provides the basis for calculating the interest charged to borrowing members, and the interest paid to members for the use of their resources for regular (non-concessional) IMF loans. It is also the interest paid to members on their SDR holdings and charged on their SDR allocation. The SDR interest rate is determined weekly and is based on a weighted average of representative interest rates on short-term debt instruments in the money markets of the SDR basket currencies.-SDR allocations to IMF members-Under its Articles of Agreement (Article XV, Section 1, and Article XVIII), the IMF may allocate SDRs to member countries in proportion to their IMF quotas. Such an allocation provides each member with a costless, unconditional international reserve asset. The SDR mechanism is self-financing and levies charges on allocations which are then used to pay interest on SDR holdings. If a member does not use any of its allocated SDR holdings, the charges are equal to the interest received. However, if a member's SDR holdings rise above its allocation, it effectively earns interest on the excess. Conversely, if it holds fewer SDRs than allocated, it pays interest on the shortfall. The Articles of Agreement also allow for cancellations of SDRs, but this provision has never been used. The IMF cannot allocate SDRs to itself or to other prescribed holders.General allocations of SDRs have to be based on a long-term global need to supplement existing reserve assets. Decisions on general allocations are made for successive basic periods of up to five years, although general SDR allocations have been made only three times. The first allocation was for a total amount of SDR 9.3 billion, distributed in 1970-72, the second—for SDR 12.1 billion—distributed in 1979-81, and the third—for SDR 161.2 billion—was made on August 28, 2009.Separately, the Fourth Amendment to the Articles of Agreement became effective August 10, 2009 and provided for a special one-time allocation of SDR 21.5 billion. The purpose of the Fourth Amendment was to enable all members of the IMF to participate in the SDR system on an equitable basis and rectify the fact that countries that joined the IMF after 1981—more than one fifth of the current IMF membership—never received an SDR allocation until 2009.The 2009 general and special SDR allocations together raised total cumulative SDR allocations to SDR 204 billion.-Buying and selling SDRs-IMF members often need to buy SDRs to discharge obligations to the IMF, or they may wish to sell SDRs in order to adjust the composition of their reserves. The IMF may act as an intermediary between members and prescribed holders to ensure that SDRs can be exchanged for freely usable currencies. For more than two decades, the SDR market has functioned through voluntary trading arrangements. Under these arrangements a number of members and one prescribed holder have volunteered to buy or sell SDRs within limits defined by their respective arrangements. Following the 2009 SDR allocations, the number and size of the voluntary arrangements has been expanded to ensure continued liquidity of the voluntary SDR market. The number of voluntary SDR trading arrangements now stands at 32, including 19 new arrangements since the 2009 SDR allocations.In the event that there is insufficient capacity under the voluntary trading arrangements, the IMF can activate the designation mechanism. Under this mechanism, members with sufficiently strong external positions are designated by the IMF to buy SDRs with freely usable currencies up to certain amounts from members with weak external positions. This arrangement serves as a backstop to guarantee the liquidity and the reserve asset character of the SDR.
IMF Governors Formally Approve US$250 Billion General SDR Allocation-Press Release No. 09/283-August 13, 2009
The Board of Governors of the International Monetary Fund (IMF) has approved on August 7, 2009 a general allocation of Special Drawing Rights (SDRs) equivalent to US$250 billion to provide liquidity to the global economic system by supplementing Fund’s member countries’ foreign exchange reserves.The IMF Executive Board backed the general allocation on July 17, 2009 (see Press Release No 09/264), following the commitment made by G20 leaders at their April summit to boost global liquidity and welcomed by the International Monetary and Financial Committee (IMFC).The equivalent of nearly US$100 billion of the general allocation will go to emerging markets and developing countries, of which low-income countries will receive over US$18 billion.The general SDR allocation will be made on August 28, 2009 to IMF members that are participants in the Special Drawing Rights Department (currently all 186 members) in proportion to their existing quotas in the Fund, which are based broadly on their relative size in the global economy. The allocation will provide each participating country with SDRs in amounts equivalent to approximately 74 percent of its quota, and could increase Fund members’ total allocations to an amount equivalent to about US$283 billion, from about US$33 billion (SDR 21.4 billion).Separately, the Fourth Amendment to the IMF Articles of Agreement providing for a special one-time allocation of SDRs has now entered into force. The special allocation will be made to IMF members on September 9, 2009, 30 days after the effective date of the Fourth Amendment, and will raise the ratios of members' cumulative SDR allocations to quota using a common benchmark ratio as described in the Amendment. The total of SDRs created under the special allocation would amount to SDR 21.5 billion (about US$33 billion).The special allocation will make the allocation of SDRs more equitable and correct for the fact that countries that joined the Fund after 1981—more than one fifth of the current IMF membership—had never received an SDR allocation. The Fourth Amendment, which was proposed in September 1997, required approval by three fifths of the IMF membership with 85 percent of the total voting power. This threshold has been reached following the recent approval by the United States.Members’ holdings of newly allocated SDRs, will count, as of the date of each of the general and special allocations, toward their reserve assets. Some members may choose to sell part or all of their allocations to other members in exchange for hard currency—for example, to meet balance of payments needs—while other members may choose to buy more SDRs as a means of reallocating their reserves.The special and general allocations will bring Fund members’ cumulative total of SDR allocation to SDR 204 billion (about US$316 billion).The general SDR allocation is a key example of a cooperative multilateral response to the global crisis, offering significant support to the Fund's members in this challenging period.
CHINA DEVALUES CURRENCY FOR AMERICAN INTEREST RATE RISE SPECULATION
http://israndjer.blogspot.ca/2015/08/see-how-stock-markets-fare-today-at-ok.html
http://israndjer.blogspot.ca/2015/08/asian-stock-markets-crash-badly-to.html
http://israndjer.blogspot.ca/2015/08/stock-market-crash-was-inevitable-and.html
http://israndjer.blogspot.ca/2015/08/imf-its-premature-to-say-china-is.html
http://israndjer.blogspot.ca/2015/08/10-currencies-that-may-follow.html
http://israndjer.blogspot.ca/2015/08/11-chinese-banks-ask-for-bailouts.html
http://israndjer.blogspot.ca/2015/08/north-korea-threatens-us-what-china.html
http://israndjer.blogspot.ca/2015/08/what-kinda-story-is-this-america-used.html
http://israndjer.blogspot.ca/2015/08/112-now-dead-722-injured-in-china-port.html
http://israndjer.blogspot.ca/2015/08/china-devalues-currency-for-3rd-day.html
http://israndjer.blogspot.ca/2015/08/china-currency-wars-angers.html
http://israndjer.blogspot.ca/2015/08/china-devalues-currency-for-second-day.html
http://israndjer.blogspot.ca/2015/08/china-devalues-its-currency-stocks-fall.html
GREECE NEWS
http://israndjer.blogspot.ca/2015/08/typhoons-fires-koreas-talk-planned.html
http://israndjer.blogspot.ca/2015/08/tsipras-resigns-for-greece-elections.html
http://israndjer.blogspot.ca/2015/08/china-says-it-arrested-15000-people-for.html
http://israndjer.blogspot.ca/2015/08/russia-and-nato-rehearsing-for-war.html
http://israndjer.blogspot.ca/2015/08/at-least-56-dead-720-injured-in-chinese.html
http://israndjer.blogspot.ca/2015/08/greece-lenders-clinch-bailout-deal.html
RELATED SCRIPTURE TO WORLD GOVERNMENT-WW3 BECAUSE JERUSALEM DIVIDED
http://israndjer.blogspot.ca/2006/02/eu-world-dictator.html
http://israndjer.blogspot.ca/2008/01/jewish-messiah-qualifications.html
http://israndjer.blogspot.ca/2008/01/islams-coming-messiah-mahdi.html
http://israndjer.blogspot.ca/2011/09/ww3-will-be-fought-with-nuclear-weapons.html
http://israndjer.blogspot.ca/2008/04/o-jerusalem-jerusalem.html
http://israndjer.blogspot.ca/2011/03/life.html
http://israndjer.blogspot.ca/2005/11/questions-ww3-whats-coming.html
http://israndjer.blogspot.ca/2012/01/could-this-be-russia-muslims-time-of.html
http://english.thekotel.org/cameras.asp
http://israndjer.blogspot.ca/2010/09/moses-elijah-and-sukkot.html
http://israndjer.blogspot.com/2005/12/elijah-and-moses-in-israel.html
http://israndjer.blogspot.com/2006/01/144000-jewish-ministers-preach.html
http://israndjer.blogspot.com/2008/02/transfiguration.html
http://israndjer.blogspot.ca/2010/05/no-market-drop-heist-caught-ay-sachs.html
http://israndjer.blogspot.ca/2010/03/timeline-of-history-begging-to-trib.html
http://israndjer.blogspot.ca/2009/02/is-tony-blair-into-new-age-occult.html
WILL THE EUROPEAN UNION CONTROL THE WORLD ECONOMIES
http://israndjer.blogspot.ca/2015/08/will-european-union-control-worlds.html
HOARDING OF GOLD AND SILVER
JAMES 5:1-3
1 Go to now, ye rich men, weep and howl for your miseries that shall come upon you.
2 Your riches are corrupted, and your garments are motheaten.
3 Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days.
REVELATION 18:10,17,19
10 Standing afar off for the fear of her torment, saying, Alas, alas that great city Babylon, that mighty city! for in one hour is thy judgment come.(IN 1 HR THE STOCK MARKETS WORLDWIDE WILL CRASH)
17 For in one hour so great riches is come to nought. And every shipmaster, and all the company in ships, and sailors, and as many as trade by sea, stood afar off,
19 And they cast dust on their heads, and cried, weeping and wailing, saying, Alas, alas that great city, wherein were made rich all that had ships in the sea by reason of her costliness! for in one hour is she made desolate.
EZEKIEL 7:19
19 They shall cast their silver in the streets, and their gold shall be removed:(CONFISCATED) their silver and their gold shall not be able to deliver them in the day of the wrath of the LORD: they shall not satisfy their souls, neither fill their bowels: because it is the stumblingblock of their iniquity.
LUKE 2:1-3
1 And it came to pass in those days, that there went out a decree from Caesar Augustus, that all the world should be taxed.
2 (And this taxing was first made when Cyrenius was governor of Syria.)
3 And all went to be taxed, every one into his own city.
REVELATION 13:16-18
16 And he(THE FALSE POPE WHO DEFECTED FROM THE CHRISTIAN FAITH) causeth all,(IN THE WORLD ) both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:(MICROCHIP IMPLANT)
17 And that no man might buy or sell, save he that had the mark,(MICROCHIP IMPLANT) or the name of the beast,(WORLD DICTATORS NAME INGRAVED ON YOUR SKIN OR TATTOOED ON YOU OR IN THE MICROCHIP IMPLANT) or the number of his name.(THE NUMBERS OF HIS NAME INGRAVED IN THE MICROCHIP IMLPLANT)-(ALL THESE WILL TELL THE WORLD DICTATOR THAT YOUR WITH HIM AND AGAINST KING JESUS-GOD)
18 Here is wisdom. Let him that hath understanding count the number of the beast:(WORLD LEADER) for it is the number of a man; and his number is Six hundred threescore and six.(6-6-6) A NUMBER SYSTEM (6006006)OR(60020202006)(SOME KIND OF NUMBER IMPLANTED IN THE MICROCHIP THAT TELLS THE WORLD DICTATOR AND THE NEW WORLD ORDER THAT YOU GIVE YOUR TOTAL ALLIGIENCE TO HIM AND NOT JESUS)(ITS AN ETERNAL DECISION YOU MAKE)(YOU CHOOSE YOUR OWN DESTINY)(YOU TAKE THE DICTATORS NAME OR NUMBER UNDER YOUR SKIN,YOUR DOOMED TO THE LAKE OF FIRE AND TORMENTS FOREVER,NEVER ENDING MEANT ONLY FOR SATAN AND HIS ANGELS,NOT HUMAN BEINGS).OR YOU REFUSE THE MICROCHIP IMPLANT AND GO ON THE SIDE OF KING JESUS AND RULE FOREVER WITH HIM ON EARTH.YOU CHOOSE,ITS YOUR DECISION.
REVELATION 6:5-6
5 And when he had opened the third seal, I heard the third beast say, Come and see. And I beheld, and lo a black horse; and he that sat on him had a pair of balances in his hand.
6 And I heard a voice in the midst of the four beasts say, A measure of wheat for a penny, and three measures of barley for a penny; and see thou hurt not the oil and the wine.(A DAYS WAGES FOR A LOAF OF BREAD)
DOCTOR DOCTORIAN FROM ANGEL OF GOD
then the angel said, Financial crisis will come to Asia. I will shake the world.- -------------------------------------------------------------------------------------------------------------------
REVELATION 13:1-(BREAKDOWN BY THE BIBLE)
1 And I stood upon the sand of the sea, and saw a beast rise up out of the sea, having seven heads and ten horns, and upon his horns ten crowns, and upon his heads the name of blasphemy.(THE EU AND ITS DICTATOR IS GODLESS)
SAND OF THE SEA-POSSIBLE MEANING HERE GENESIS 22:16-17
16 And said, By myself (GOD) have I sworn, saith the LORD, for because thou hast done this thing, and hast not withheld thy son,(ABRAHAM) thine only son:(ISAAC)
17 That in blessing I will bless thee, and in multiplying I will multiply thy seed as the stars of the heaven, and as the sand which is upon the sea shore; and thy seed shall possess the gate of his enemies;
REVELATION 20:8
8 And (SATAN) shall go out to deceive the nations which are in the four quarters of the earth, Gog and Magog, to gather them together to battle: the number of whom is as the sand of the sea.(MILLIONS)(THE FIRST GOG-MAGOG OR RUSSIA-ARAB-MUSLIM SLAUGHTER MIGHT OCCUR JUST BEFORE THE DICTATOR COMES OUTTA THE SEA.THIS GOG-MAGOG WAR IS AFTER JESUS HAS RULED AND REIGNED ON EARTH FOR ONE THOUSAND YEARS).
BEAST-IS THE WORLD POLITICAL LEADER THAT COMES OUT OF THE SEA OF TURBULENCE.FROM THE REVIVED ROMAN EMPIRE OR CURRENT EUROPEAN UNION.DANIEL 9:26 (COMES FROM ROME) (EU)
26 And after threescore and two weeks shall Messiah be cut off, but not for himself: and the people of the prince that shall come shall (ROMANS IN AD70 DESTROYED THE 2ND TEMPLE IN JERUSALEM) destroy the city and the sanctuary; and the end thereof shall be with a flood, and unto the end of the war desolations are determined.
SEA-ISAIAH 57:20 But the wicked are like the troubled sea, when it cannot rest, whose waters cast up mire and dirt.
7 HEADS-IS THE 7TH WORLD EMPIRE ON EARTH-THE EUROPEAN UNION.AND ALSO THE 7 HILLS OF THE VATICAN IN ROME.ANOTHER CONFIRMATION THIS DICTATOR AND FALSE PROPHET BOTH COME FROM THE EUROPEAN UNION.REVELATION 17:9-10
9 And here is the mind which hath wisdom. The seven heads are seven mountains, on which the woman sitteth.(THE VATICAN IN ROME IS BUILT ON 7 HILLS OR MOUNTAINS)
10 And there are seven kings: five are fallen,(1-ASSYRIA,2-EGYPT,3-BABYLON,4-MEDO-PERSIA,5-GREECE) and one is,(IN POWER IN JOHNS AND JESUS DAY-6-ROME) and the other is not yet come; and when he cometh, he must continue a short space.(7TH-REVIVED ROMAN EMPIRE OR THE EUROPEAN UNION TODAY AND THE SHORT SPACE IS-THE EUROPEAN UNION WILL HAVE WORLD CONTROL FOR THE LAST 3 1/2 YEARS.BUT WILL HAVE ITS MIGHTY WORLD POWER FOR THE FULL 7 YEARS OF THE 7 YEAR TRIBULATION PERIOD.)
10 HORNS ARE THE 10 GLOBAL DIVISIONS THE EARTH WILL BE PUT IN-1 LEADER FOR EACH GLOBAL DIVISION ON EARTH.REVELATION 17:12-13
12 And the ten horns (NATIONS) which thou sawest are ten kings, which have received no kingdom as yet; but receive power as kings one hour with the beast.
13 These have one mind,(WORLD SOCIALISM) and shall give their power and strength unto the beast.
DANIEL 7:23-25
23 Thus he said, The fourth beast (EU,REVIVED ROME) shall be the fourth kingdom upon earth,(7TH WORLD EMPIRE) which shall be diverse from all kingdoms, and shall devour the whole earth, and shall tread it down, and break it in pieces.(TRADING BLOCKS-10 WORLD REGIONS/TRADE BLOCS)
24 And the ten horns out of this kingdom are ten kings(10 NATIONS-10 WORLD DIVISION WORLD GOVERNMENT) that shall arise: and another shall rise after them; and he shall be diverse from the first, and he shall subdue three kings.(THE EU (EUROPEAN UNION) TAKES OVER IRAQ WHICH HAS SPLIT INTO 3-SUNNI-KURD-SHIA PARTS-AND THE REVIVED ROMAN EMPIRE IS BROUGHT BACK TOGETHER-THE TWO LEGS OF DANIEL WESTERN LEG AND THE ISLAMIC LEG COMBINED AS 1)
THE CLUB OF ROME FOUNDER AURELIO PECCEI WANTS THE WORLD IN 10 REGIONAL TRADING BLOCKS
The Club Of Rome
Founded in 1968, the Club of Rome is a global think tank that deals with a variety of international political issues. According to its website, the Club of Rome is composed of "scientists, economists, businessmen, international high civil servants, heads of state and former heads of state from all five continents who are convinced that the future of humankind is not determined once and for all and that each human being can contribute to the improvement of our societies.
The Ten Kingdoms - The ten regions originated with the Club of Rome think tank, and was established by the United Nations. The Club of Rome was given the task of uniting Europe, and dividing the world into manageable blocks. Here's a map of the world, divided into the ten economic regions, which the United Nations and the Club of Rome call The Ten Kingdoms. From Gary Kah’s En Route to Global Occupation, page 40: “The Club of Rome had its beginnings in April of 1968…The Club of Rome has been charged with the task of overseeing the regionalization and unification of the entire world; the Club could therefore be said to be one step above the Bilderbergers in the one world hierarchy…On September 13, 1973, the Club released one such report entitled Regionalized and Adaptive Model of the Global World System…The document reveals that the Club has divided the world into ten political/economic regions, which it refers to as kingdoms. As the ten kingdoms/regions(TRADE BLOCS) come together even more in preparation for the reign of the world ruler, we will see the regionalizing of money, then a globalization of monetary exchange or the cashless society. (Revelation 13) Regarding the world and its division into economic regions:
Here are the countries for each region: Since this map was drawn in 1973,
HERES WHAT THE WORLD WOULD LOOK LIKE (SINCE THERE WILL BE WORLD GOVERNMENT IN THE FUTURE)
01 CANADA, U.S.A, MEXICO
02 SOUTHERN, CENTRAL AND LATIN AMERICAS
03 AUSTRALIA,NEW ZEALAND.
04 EUROPEAN UNION,WESTERN EUROPE
05 EASTERN EUROPE
06 JAPAN
07 SOUTH AND SOUTHEAST ASIA
08 CENTRAL ASIA
09 NORTH AFRICA, AND MIDEAST
10 CENTRAL AFRICA
THE CLUB OF ROME WANTS A WORLD CHARISMATIC DICTATOR (EITHER RELIGIOUS, POLITICAL OR SCIENTIFICAL) TO HEAD THIS WORLD GOVERNMENT. REV 13:3,7-8, DAN 7:23-24
WORLD POWERS IN THE END AGE TIME
NORTH - RUSSIA EZEK 38:1-2, 39:1-2
SOUTH - EGYPT DAN 11:42
EAST - CHINA DAN 11:44,REV 16:12
WEST - EUROPEAN UNION DAN 7:23-24 (NOT THE U.S.A)
HERES HOW I BELIEVE THE RESERVE CURRENCY WILL BE LIKE
http://israndjer.blogspot.ca/2013/01/obama-close-to-iran-create-muslim-state.html
https://www.youtube.com/watch?v=YWOgfK2_o3w
http://israndjer.blogspot.ca/2011/03/north-american-union-1-of-10-world.html
BANK FOR INTERNATIONAL SETTLEMENTS-WORLD BANK OF CENTRAL BANKERS.CENTRAL BANK LENDER ONLY.
INTERNATIONAL MONETARY FUND.ALL OTHER BANKS LENDER.
THE RESERVE CURRENCIES-PEGGED TO THE IMF SPECIAL DRAWING RIGHTS.(SDR)
HERE ARE THE 10 GLOBAL CURRENCIES I BELIEVE WILL BE IN THE SDR PEGGED RESERVE CURRENCY BASKET.THAT INCLUDES THE WHOLE WORLD.AND OUT OF THESE 10 WHICH EVER STRONGEST EUROPEAN UNION COUNTRY TAKES FULL CONTROL OF THE WORLD CURRENCIES.WHEN THE FINAL WORLD STOCK MARKET COLLAPSE OCCURS.THIS GIVES THE EUROPEAN UNION WORLD ECONOMIC CONTROL OF THE WHOLE EARTH. AND THEN THE EUROPEAN UNION IMPLIMENTS A WORLD MICROCHIP IMPLANT SYSTEM ON EVERY ONE WHO LIVES ON EARTH-ALL PEOPLE. OR THEY WILL BE KILLED-AND NOT BE ABLE TO BUY ANYTHHING-IF THEY WILL NOT RECIEVE THIS CHIP IMPLANT IN THEIR RIGHT HAND OR FOREHEAD.
REGION -01 - WORLD TRADE BLOC - USA DOLLAR PEGGED TO THE SRD
REGION-02 - WORLD TRADE BLOC - BRAZIL PEGGED TO THE SDR
REGION-03 - WORLD TRADE BLOC - AUSTRALIA PEGGED TO THE SDR
REGION-04 - WORLD TRADE BLOC - FRANCE OR SPAIN PEGGED TO THE SDR
REGION-05 - WORLD TRADE BLOC - RUSSIA PEGGED TO THE SDR
REGION-06 - WORLD TRADE BLOC - JAPAN PEGGED TO THE SDR
REGION-07 - WORLD TRADE BLOC - INDIA PEGGED TO THE SDR
REGION-08 - WORLD TRADE BLOC - CHINA PEGGED TO THE SDR
REGION-09 - WORLD TRADE BLOC - SAUDI-ARABIA PEGGED TO THE SDR
REGION-10 - WORLD TRADE BLOC - EGYPT PEGGED TO THE SDR
NOTE-UNDER WESTERN EUROPE-THIS WOULD USUALLY BE GERMANY BUT I BELIEVE GERMANY AND 2 OTHER EUROPEAN UNION COUNTRIES WILL BE BOOTED OUT OF THE EU AT SOME POINT IN THE FUTURE.
I BELIEVE THIS TO BE A IMPORT STORY. I NEVER HEARD ABOUT CHINA BEING TIED TO THE IMFS SPECIAL DRAWING RIGHTS. I BELIEVE ALL THE MAJOR CURRENCIES WILL BE PEGGED WITH THE IMFS SDRS. AND THE SDRS WILL BE THE NEW RESERVE CURRENCY INSTEAD OF THE DOLLAR. POSSIBLY AS EARLY AS 2016. MAYBE THATS WHY CHINA IS DEVALUING ITS CURRENCY IN THE LAST TWO WEEKS. SO IT CAN PEG ITSELF TO THE SDR RESERVE CURRENCY. IF THIS IS THE CASE. ALL THE CURRENCIES THAT PEG TO THE SDRS WILL HAVE TO DEVALUE THEIR CURRENCIES IN THE NEXT COUPLE OF MONTHS. SO WE MIGHT SEE A LOT OF VOLATILITY IN THE NEXT TWO MONTHS IN THE WORLD STOCK MARKETS.THAT IS IF I AM RIGHT ABOUT ALL THE MAJOR CURRENCIES PEGGING TO THE IMFS SDRS AS THE NEW RESERVE CURRENCY INSTEAD OF THE DOLLAR.
FED CENTRAL BANKERS MEETING - JACKSON HOLE
https://www.kansascityfed.org/publications/research/escp/symposiums/escp-2015
https://www.kansascityfed.org/publications/research/escp
IMF
http://www.imf.org/external/index.htm
WORLD BANK
http://www.worldbank.org/
BANKING UNION BEFORE EURO ADOPTION
http://blog-imfdirect.imf.org/2015/08/19/banking-union-before-euro-adoption-flak-jacket-or-straitjacket/
REVIEW SDR -RESERVE IMF CURRENCY
http://www.imf.org/external/np/exr/facts/sdrcb.htm
http://www.imf.org/external/pubs/ft/survey/so/2015/POL080415A.htm
http://www.imf.org/external/np/exr/faq/sdrallocfaqs.htm
http://www.imf.org/external/pp/longres.aspx?id=4975
http://www.imf.org/external/np/sec/pr/2015/pr15384.htm
http://www.imf.org/external/pp/longres.aspx?id=4978
http://www.imf.org/external/np/tre/sdr/proposal/2009/0709.htm
BANK FOR INTERNATIONAL SETTLEMENTS-THE CENTRAL BANKER OF THE WORLD.THAT LENDS ONLY TO CENTRAL BANKS OF ALL THE WORLDS COUNTRIES.
https://www.bis.org/
EUROPEAN CENTRAL BANK-The European Central Bank (ECB) is the central bank for Europe's single currency, the euro. The ECB’s main task is to maintain the euro's purchasing power and price stability in the euro area. The euro area comprises the 19 European Union countries that have introduced the euro since 1999. Our mission is to serve Europe’s citizens by maintaining price stability and safeguarding the value of the euro. Find out more about mission of the ECB, the Eurosystem and the Single Supervisory Mechanism.
https://www.ecb.europa.eu/ecb/html/index.en.html
A Big Announcement - IMF MIGHT ANNOUNCE A NEW RESERVE CURRENCY ON OR AROUND OCTOBER 20,2015
On or around October 20th of this year, the International Monetary Fund is going to make a huge announcement that could radically alter the financial markets, and initiate a transfer of wealth, unlike anything we've seen in more than three decades.We know the approximate date of this announcement because I recently accessed the IMF's meeting schedule.Like most official documents, it is filled with acronyms and insider jargon.But if you understand the markets, it's not too hard to figure out exactly what's going on-- what they'll really be deciding.I can tell you for certain that this meeting is all about a big potential shift in the world currency markets.As you probably know, the currency market is the world's largest, most vital marketplace.It's far, far larger than the stock market.
https://www.bis.org/cpmi/publ/d131.htm
Harmonisation of the Unique Transaction Identifier - consultative report-August 2015
G20 Leaders agreed in 2009 that all over-the-counter (OTC) derivatives contracts should be reported to trade repositories (TRs) as part of their commitment to reform OTC derivatives markets in order to improve transparency, mitigate systemic risk and protect against market abuse. Aggregation of the data reported across TRs is necessary to help ensure that authorities are able to obtain a comprehensive view of the OTC derivatives market and activity.Following the 2014 FSB Feasibility study on approaches to aggregate OTC derivatives data, the FSB asked the CPMI and IOSCO to develop global guidance on the harmonisation of data elements reported to TRs and important for the aggregation of data by authorities, including Unique Transaction Identifier (UTIs) and Unique Product Identifiers (UPIs).This consultative report is one part of the CPMI-IOSCO Harmonisation Group's response to its mandate. It focuses on the harmonised global UTI, whose purpose is to uniquely identify each OTC derivative transaction required by authorities to be reported to TRs. The final objective is to produce clear guidance as to UTI definition, format and usage that meets the needs of UTI users, is global in scale, and is jurisdiction-agnostic, thus enabling the consistent global aggregation of OTC derivatives transaction data.The report seeks general and specific comments and suggestions from responders by 30 September 2015, to be sent to both the CPMI secretariat and the IOSCO secretariat.
IMF will add Chinese Renminbi to SDR in 2016-Posted: 9th Aug 2015-Author: Willem Middelkoop
Schermafbeelding 2015-08-09 om 09.51.27One day the current fiat dollar reserve system will have to be replaced with something new, probably the IMF’s Special Drawing Rights (SDR), with or without some form of gold-backing.The SDRs, a new form of international reserve assets, were designed by the IMF in 1969, to take over the dollar’s role as a world reserve currency when needed. Soon after the fall of Lehman late 2008, the United Nations called for ‘a new Global Reserve System’ based on SDRs.Such a new Global Reserve System–what may be viewed as a greatly expanded use of SDRs, with regular or cyclically adjusted emissions calibrated to the size of reserve accumulations–could contribute to global stability, economic strength, and global equity, according to the UN.After the start of the credit crisis China felt the renminbi’s dependency on the dollar was problematic and they claim to be ‘trapped’ by the huge size of its dollar holdings. So China has been looking for an exit strategy ever since.In a 2009 speech, Governor Xiaochuan of the People’s Bank of China (the Chinese central bank) called for a new worldwide reserve currency system. He explained that the interests of the US and those of other countries should be ‘aligned’, which is not the case in the current dollar system. Xiaochuan suggested developing SDRs into a ‘super-sovereign reserve currency disconnected from individual nations and able to remain stable in the long run’.The OMFIF, a leading monetary think tank based in London, has also called for extending the SDR to include the so-called R-currencies – the renminbi, rupee, real, rand and ruble – and even possibly gold. Economist and Nobel prize winner Robert Mundell, one of the architects of the euro and an advisor to the Chinese government thinks a gold-linked SDR could be used to reset the international monetary system:‘There could be a kind of Bretton Woods type of gold standard where the price of gold was fixed for central banks and they could use gold as an asset to trade within central banks. The great advantage of that was that gold is nobody’s liability and it can’t be printed. So it has a strength and confidence that people trust. So if you had not just the United States but the United States and the euro (area) tied together to each other and to gold, gold might be the intermediary and then with the other important currencies like the yen and Chinese Yuan and British pound all tied together as a kind of new SDR that could be one way the world could move forward on a better monetary system.’There are some who explain China’s rush to build up its gold reserves, just updated from 1000 to 1600 tons, by inferring that the US would prefer to revalue gold together with the EU and China, instead of going it all alone. As soon as China’s gold reserves as a percentage of GDP reach the same level as those of the US and the EU, the three powers could lead the world in a smooth transition to a system based on SDRs with a form of gold backing as proposed by Mundell and the IMF.‘Under the current valuation method, the SDR currency basket is reviewed every 5 years. The last SDR valuation review was conducted in 2010. The review concluded that four currencies (euro, Japanese yen, British pound, and U.S. dollar) would continue to comprise the SDR basket. At that point China the renminbi (RMB) was not included in the SDR basket as it was not judged to be freely usable and thus did not meet the second selection criterion’, according to a statement on the IMF’s website.But now after years of study and negotiations – remember Christine Lagarde’s 4 day-trip to China in March this year – the IMF will decide for an extension of the current valuation basket for a period of nine months to September 30, 2016 and will make a formal decision about the new currency basket before the end of 2015.According to the IMF:‘This proposal would respond to concerns expressed previously by SDR users that introducing a new basket on the first trading day of the year can expose them to increased risks and costs. It would also help reduce uncertainty for SDR users and facilitate continued smooth SDR-related operations, while allowing adequate time to make necessary changes to contractual arrangements, including in the event the Board ultimately decides to add a new currency (RMB-WM) to the basket.’From these statements it becomes quite clear that the chances are very high the IMF will include the RMB in a new SDR currency basket, not on January 1st 2016, but nine months later. This is more or less confirmed by the following quote by senior IMF officials during a conference call;IMF official: ‘.. coming towards a decision by the end of the year, but waiting for the implementation till next year.’With this reference to implementation, the decision already seems to be made. Why else would anyone discuss a pending implementation if no major changes were to be made to the currency basket? We hope Beijing will read the IMF statement the same way and they will have the patience to wait another long year..
Markets | Thu Apr 2, 2015 7:30am EDT-China knocking on door of IMF's major league, U.S. wavers-REUTERS
BRUSSELS | By Paul Taylor-China is closer to joining the major league of reserve currencies with a deal possible later this year to include the yuan in the International Monetary Fund's unit of account, international finance officials say.However the United States, where China's growing economic and political muscle is a source of strategic concern in Congress, is reluctant to add the yuan so soon to the basket of currencies that make up the IMF's Special Drawing Rights.U.S. Treasury Secretary Jack Lew said after a visit to Beijing this week the yuan was not yet ready to join the virtual currency that defines the value of the IMF's reserves, used for lending to countries in financial difficulty."While further liberalization and reform are needed for the (yuan) to meet this standard, we encourage the process of completing these necessary reforms," Lew said in a speech in San Francisco on Tuesday.The yuan, also known as the renminbi or RMB, is already the world's fifth most-used trade currency. Beijing has made strides this year in introducing the infrastructure needed to float it freely on global capital markets.European members of the Group of Seven major industrialized economies - Germany, Britain, France and Italy - favor adding the yuan this year to the basket that comprises the dollar, the euro, the yen and the pound sterling. Japan, like the United States, is more cautious, the officials said.The IMF's board will hold an initial discussion in May on China's request and a full five-yearly review of the SDR's composition will be conducted later in the year ahead of a decision expected in November, IMF officials said."The German side supports China's goal to add the RMB to the SDR currency basket based on existing criteria," Joachim Nagel, a member of the executive board of the German central bank, said last weekend at a high-level forum in Boao, on the southern Chinese island of Hainan.The upcoming review could be a good opportunity to introduce the yuan into the basket, he said, adding: "We appreciate China's recent development and progress towards liberalization."Chinese Premier Li Keqiang asked IMF chief Christine Lagarde last month to include the yuan in its SDR basket, pledged to speed up its "basic convertibility" and said China hoped to play an active role in international efforts to maintain financial stability, state news agency Xinhua said.-PHASED ENTRY?-A euro zone central bank source said one route could see a phased entry into the SDR, linked to fulfilling the official criterion that the yuan must be "freely usable", which Western officials interpret as full convertibility.It would be the first emerging market currency to join the SDR, marking another stage in China's rise as a global economic player and requiring the United States to accept a dilution of its unrivalled power in international finance.While the Europeans are vying for commercial advantage in the world's second biggest economy, Washington sees Beijing also as an authoritarian strategic challenger that may not feel bound by rules written by the West.The U.S. Congress has held up ratification of a 2010 reform of voting rights in the IMF intended to give China and other emerging economies more say.Britain, keen to secure pole position for London as an offshore center for international trading in yuan, has taken the lead in pressing publicly for China's admission to the SDR.David Ramsden, chief economic adviser at the UK Treasury, said much had changed since the makeup of the virtual currency was last reviewed in 2010, and including the yuan was now a "very live issue".Germany has ambitions to lure yuan trading to Frankfurt, home of the European Central Bank, and was irked when Britain last month jumped ahead of its EU partners to become a founder member of the China-led Asian Infrastructure Investment Bank.Washington suffered a diplomatic reverse after trying to dissuade its allies from joining the Chinese initiative, seen as a potential rival to the World Bank and Asian Development Bank, dominated by the United States and Japan.Keen to avoid a second rift with Europe - even though the United States can block IMF decisions - Lew focused on the terms for admitting the yuan to the SDR rather than the timing."China will need to successfully complete difficult fundamental reforms, such as capital account liberalization, a more market-determined exchange rate, interest rate liberalization, as well as strengthening of financial regulation and supervision," he said.While Washington believed Beijing has stopped intervening to weaken its currency, Lew said the true test would come when market pressure increased for the yuan to strengthen.David Marsh, managing director of the central banking think-tank OMFIF, sees a "grand bargain" between China, the United States and the IMF taking shape under which Beijing would enter the heart of global finance in exchange for turning the yuan into a strong currency on world financial markets.The Chinese central bank was using its $3.8 trillion in reserves to keep the yuan steady against the dollar. The Chinese currency has appreciated by 11 percent in trade-weighted terms in the past year."All of this is a potential challenge for the dollar and its pivotal position in world money," Marsh said in a briefing.While there is no fixed set of indicators to measure the eligibility of a currency for the SDR basket, in 2011 IMF staff set out a number of indicators that could show whether a currency is "freely usable":- currency composition of official reserve holdings;-- currency denomination of international banking liabilities; - currency denomination of international debt securities;-- volume of transactions in foreign exchange spot markets.More than 60 central banks hold the yuan in their reserves, according to China-focused bankers in London. Offshore trading in the yuan CNH= soared some 350 percent on Thomson Reuters trading platforms last year and rival platform EBS said the yuan was one of its top five traded currencies.A former high IMF official, speaking on condition of anonymity, said 2015 was too soon for the yuan to qualify, but the Chinese central bank could use the review to persuade Communist Party leaders to move further towards convertibility.Zhu Min, the IMF's Chinese deputy managing director, noted the yuan was increasingly used in trade and was also growing in capital markets."Clearly the RMB is already qualified, in a sense, on trade activity," he told reporters at the Boao Forum. "But on the freely usable side ... there are still some obstructions."(This story corrects paragraph 18, changing to Asian Development Bank)(Additional reporting by Adam Jourdan in Boao, China, Rory Carroll in San Francisco, Randall Palmer in Ottawa and Patrick Graham in London; Writing by Paul Taylor. Editing by Mike Peacock.)
Factsheet-Special Drawing Rights (SDRs)-April 9, 2015
The SDR is an international reserve asset, created by the IMF in 1969 to supplement its member countries’ official reserves. Its value is based on a basket of four key international currencies, and SDRs can be exchanged for freely usable currencies. As of March 17, 2015, 204 billion SDRs were created and allocated to members (equivalent to about $280 billion).The role of the SDR-The SDR was created by the IMF in 1969 to support the Bretton Woods fixed exchange rate system. A country participating in this system needed official reserves—government or central bank holdings of gold and widely accepted foreign currencies—that could be used to purchase the domestic currency in foreign exchange markets, as required to maintain its exchange rate. But the international supply of two key reserve assets—gold and the U.S. dollar—proved inadequate for supporting the expansion of world trade and financial development that was taking place. Therefore, the international community decided to create a new international reserve asset under the auspices of the IMF.Only a few years after the creation of SDRs, the Bretton Woods system collapsed and the major currencies shifted to a floating exchange rate regime. In addition, the growth in international capital markets facilitated borrowing by creditworthy governments. Both of these developments lessened the need for SDRs. However, more recently, the 2009 SDR allocations totaling SDR 182.6 billion have played a critical role in providing liquidity to the global economic system and supplementing member countries’ official reserves amid the global financial crisis.The SDR is neither a currency, nor a claim on the IMF. Rather, it is a potential claim on the freely usable currencies of IMF members. Holders of SDRs can obtain these currencies in exchange for their SDRs in two ways: first, through the arrangement of voluntary exchanges between members; and second, by the IMF designating members with strong external positions to purchase SDRs from members with weak external positions. In addition to its role as a supplementary reserve asset, the SDR serves as the unit of account of the IMF and some other international organizations.-Basket of currencies determines the value of the SDR-The value of the SDR was initially defined as equivalent to 0.888671 grams of fine gold—which, at the time, was also equivalent to one U.S. dollar. After the collapse of the Bretton Woods system in 1973, the SDR was redefined as a basket of currencies. Today the SDR basket consists of the euro, Japanese yen, pound sterling, and U.S. dollar. The value of the SDR in terms of the U.S. dollar is determined daily and posted on the IMF’s website. It is calculated as the sum of specific amounts of the four basket currencies valued in U.S. dollars, on the basis of exchange rates quoted at noon each day in the London market.The basket composition is reviewed every five years by the Executive Board, or earlier if the IMF finds changed circumstances warrant an earlier review, to ensure that it reflects the relative importance of currencies in the world’s trading and financial systems. In the most recent review (in November 2010), the weights of the currencies in the SDR basket were revised based on the value of the exports of goods and services, and the amount of reserves denominated in the respective currencies that were held by other members of the IMF. These changes became effective on January 1, 2011. In October 2011, the IMF Executive Board discussed possible options for broadening the SDR currency basket. Most directors held the view that the current criteria for SDR basket selection remained appropriate. The next review is currently scheduled to take place by the end of 2015.-The SDR interest rate-The SDR interest rate provides the basis for calculating the interest charged to borrowing members, and the interest paid to members for the use of their resources for regular (non-concessional) IMF loans. It is also the interest paid to members on their SDR holdings and charged on their SDR allocation. The SDR interest rate is determined weekly and is based on a weighted average of representative interest rates on short-term debt instruments in the money markets of the SDR basket currencies.-SDR allocations to IMF members-Under its Articles of Agreement (Article XV, Section 1, and Article XVIII), the IMF may allocate SDRs to member countries in proportion to their IMF quotas. Such an allocation provides each member with a costless, unconditional international reserve asset. The SDR mechanism is self-financing and levies charges on allocations which are then used to pay interest on SDR holdings. If a member does not use any of its allocated SDR holdings, the charges are equal to the interest received. However, if a member's SDR holdings rise above its allocation, it effectively earns interest on the excess. Conversely, if it holds fewer SDRs than allocated, it pays interest on the shortfall. The Articles of Agreement also allow for cancellations of SDRs, but this provision has never been used. The IMF cannot allocate SDRs to itself or to other prescribed holders.General allocations of SDRs have to be based on a long-term global need to supplement existing reserve assets. Decisions on general allocations are made for successive basic periods of up to five years, although general SDR allocations have been made only three times. The first allocation was for a total amount of SDR 9.3 billion, distributed in 1970-72, the second—for SDR 12.1 billion—distributed in 1979-81, and the third—for SDR 161.2 billion—was made on August 28, 2009.Separately, the Fourth Amendment to the Articles of Agreement became effective August 10, 2009 and provided for a special one-time allocation of SDR 21.5 billion. The purpose of the Fourth Amendment was to enable all members of the IMF to participate in the SDR system on an equitable basis and rectify the fact that countries that joined the IMF after 1981—more than one fifth of the current IMF membership—never received an SDR allocation until 2009.The 2009 general and special SDR allocations together raised total cumulative SDR allocations to SDR 204 billion.-Buying and selling SDRs-IMF members often need to buy SDRs to discharge obligations to the IMF, or they may wish to sell SDRs in order to adjust the composition of their reserves. The IMF may act as an intermediary between members and prescribed holders to ensure that SDRs can be exchanged for freely usable currencies. For more than two decades, the SDR market has functioned through voluntary trading arrangements. Under these arrangements a number of members and one prescribed holder have volunteered to buy or sell SDRs within limits defined by their respective arrangements. Following the 2009 SDR allocations, the number and size of the voluntary arrangements has been expanded to ensure continued liquidity of the voluntary SDR market. The number of voluntary SDR trading arrangements now stands at 32, including 19 new arrangements since the 2009 SDR allocations.In the event that there is insufficient capacity under the voluntary trading arrangements, the IMF can activate the designation mechanism. Under this mechanism, members with sufficiently strong external positions are designated by the IMF to buy SDRs with freely usable currencies up to certain amounts from members with weak external positions. This arrangement serves as a backstop to guarantee the liquidity and the reserve asset character of the SDR.
IMF Governors Formally Approve US$250 Billion General SDR Allocation-Press Release No. 09/283-August 13, 2009
The Board of Governors of the International Monetary Fund (IMF) has approved on August 7, 2009 a general allocation of Special Drawing Rights (SDRs) equivalent to US$250 billion to provide liquidity to the global economic system by supplementing Fund’s member countries’ foreign exchange reserves.The IMF Executive Board backed the general allocation on July 17, 2009 (see Press Release No 09/264), following the commitment made by G20 leaders at their April summit to boost global liquidity and welcomed by the International Monetary and Financial Committee (IMFC).The equivalent of nearly US$100 billion of the general allocation will go to emerging markets and developing countries, of which low-income countries will receive over US$18 billion.The general SDR allocation will be made on August 28, 2009 to IMF members that are participants in the Special Drawing Rights Department (currently all 186 members) in proportion to their existing quotas in the Fund, which are based broadly on their relative size in the global economy. The allocation will provide each participating country with SDRs in amounts equivalent to approximately 74 percent of its quota, and could increase Fund members’ total allocations to an amount equivalent to about US$283 billion, from about US$33 billion (SDR 21.4 billion).Separately, the Fourth Amendment to the IMF Articles of Agreement providing for a special one-time allocation of SDRs has now entered into force. The special allocation will be made to IMF members on September 9, 2009, 30 days after the effective date of the Fourth Amendment, and will raise the ratios of members' cumulative SDR allocations to quota using a common benchmark ratio as described in the Amendment. The total of SDRs created under the special allocation would amount to SDR 21.5 billion (about US$33 billion).The special allocation will make the allocation of SDRs more equitable and correct for the fact that countries that joined the Fund after 1981—more than one fifth of the current IMF membership—had never received an SDR allocation. The Fourth Amendment, which was proposed in September 1997, required approval by three fifths of the IMF membership with 85 percent of the total voting power. This threshold has been reached following the recent approval by the United States.Members’ holdings of newly allocated SDRs, will count, as of the date of each of the general and special allocations, toward their reserve assets. Some members may choose to sell part or all of their allocations to other members in exchange for hard currency—for example, to meet balance of payments needs—while other members may choose to buy more SDRs as a means of reallocating their reserves.The special and general allocations will bring Fund members’ cumulative total of SDR allocation to SDR 204 billion (about US$316 billion).The general SDR allocation is a key example of a cooperative multilateral response to the global crisis, offering significant support to the Fund's members in this challenging period.
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