LIVE Gold Prices $  | E-Mail Subscriptions | Update GoldSeek | GoldSeek Radio 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page >> News >> Story  Disclaimer 
Latest Headlines

Gold Seeker Report: This Week in Mining Issue #20: Gold crosses $1,800/oz But Can It Maintain Momentum?
By: Chris Marchese, Chief Mining Analyst at

Gold RESET Breakout: on 10 Reasons
By: Jim Willie, CB

Following the Gold Stock Leaders as the Fed Prints
By: Gary Tanashian, NFTRH

Gold Move
By: Marin Katusa

Gold Summer Doldrums 3
By: Adam Hamilton, Zeal Research

What Do The Charts Now Say About Gold & Silver?
By: Steve St. Angelo, SRSrocco Report

Canadian tax authorities recover C$82 million from Kitco in fraud case

Precious Metals Update Video: Gold Corrects
By: Ira Epstein

Asian Metals Market Update: July-2-2020
By: Chintan Karnani, Insignia Consultants

These Are the Times That Call for Gold
By: Stefan Gleason, Money Metals Exchange


GoldSeek Web

Monetary Tricks No Longer Work – Jim Rickards

 -- Published: Thursday, 3 November 2016 | Print  | Disqus 

If you hold the keys-to-the-kingdom and someone comes along and request that you share those keys what are the odds you are going to honor such a request? Let’s say you posses the power, financially and militarily, to bully whoever you would like, along with the keys-to-the-kingdom. If you already hold all the power why would you even entertain any such idea? Odds are, not going to happen.

This is exactly where our global monetary system stands today. The Federal Reserve Note (FRN), U.S. dollar, represents the keys-to-the-kingdom. The FRN, which is still the world reserve currency, is backed by military force and a criminal banking cabal that work in tandem with the federal government. This is the three-headed hydra of power that dominates the global financial system. The world has had enough. China, in the not too distant future, will be making a request of the IMF to change the world reserve currency system. This will be a formal request. China has already made informal requests and have been working on plans to dislodge the FRN from it’s abused position for the past few years.

I sat down with Jim Rickards, author, Road to Ruin: The Global Elites’ Secret Plan for the Next Financial Crisisto better understand how these options will work. It is no secret that Mr. Rickards has worked with the Pentagon, discusses global economies with heads of state and is in regular communications with some of the most influential people in the world. Who better to find out what could potentially happen with our currencies than someone who has an inside track?

How does one pry the keys-to-the-kingdom out of the hand that has held them since 1971? Through diplomacy, war, market forces? There is no simple answer. Once again the keys-to-the-kingdom is the FRN that dominates world trade and side-steps most currencies in the world.

The U.S. has controlling vote at the IMF with 16% weighting versus all the other member nations. In order to make a policy change a super-majority of 85% is required to veto, change policy or adapt new policies. Funny how there is a 1% difference that allows the U.S. to single-handedly over-rule any vote it deems necessary. This is going to change beginning in 2017. This change, that the U.S. is fully aware is coming, begs the question – why would you willingly hand over the keys-to-the-kingdom?

Currently, the BRICS nations hold, collectively, 14.9% of voting power within the IMF structure. With a 0.2% change to the upside the BRICS would have controlling power of the policy changes and new policies adapted at the IMF. This change, according to Mr. Rickards, will take place in 2017 with the BRICS nations, collectively, gaining as much as 2-3% voting power. The controlling vote has just shifted from a single nation to a group of nations. That group of nations just happens to hate the FRN with an unholy passion.

At the G20 Meeting on September 4th and again at the BRICS Summit in India about a week ago, about ten days ago. Both issued final communiques and both made reference to this [the power of veto by the BRICS nations for passing IMF policies or policy changes]. The IMF said “yes in the 2017 we’re going to review the quotas and we think it’s time to increase the share of important developing economies…And the BRICS said the same thing “we recoginize and endorse the idea of the IMF increasing our share of the quota in 2017”. Everybody is on board. Bear in mind, at the G20 Summit President Obama was there. So, this isn’t going around the back of the United States. The U.S. is part of the G20 we’re on board with this change. Jim Rickards, The Daily Coin

So, the U.S. is going to hand over the controlling vote to the East. This will crush the petrodollar and shift global trade settlement to a global, unelected group of people that are accountable to no one and that wield the power to enslave entire nations with the stroke of pen. This is what’s coming. It sounds like 2018 is the year of a new trade settlement mechanism, the SDR, and the only remaining question is – where does that leave all those FRN piled up around the world? What happens when those FRN’s are forced to move back home? Got physical gold?


| Digg This Article
 -- Published: Thursday, 3 November 2016 | E-Mail  | Print  | Source:

comments powered by Disqus


Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to >> Story

E-mail Page  | Print  | Disclaimer 

© 1995 - 2019 Supports

©, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer


The views contained here may not represent the views of, Gold Seek LLC, its affiliates or advertisers., Gold Seek LLC makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of, Gold Seek LLC, is strictly prohibited. In no event shall, Gold Seek LLC or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.