IMF Silently Creates New Money Layer, Why You Need to Leave the Banks: Willem Middelkoop



The International Monetary Fund’s special drawing right (SDR) – the international reserve asset created in 1969 to prepare for a new dollar crisis – is undergoing a renaissance with important worldwide repercussions says Willem Middelkoop, author of the Big Reset. "The announcement of the largest-ever increase in SDR allocations, which will greatly improve the liquidity of many developing nations, signals alignment between the US and China in a key area of global monetary power," he tells our Daniela Cambone.
Key point: The IMF SDR is a basket of currencies including the Chinese Yuan, thus the Chinese have wanted to expand the SDR program. The Trump Administration had opposed SDR expansion, but Biden and Yellen have given them the green light to fire up the SDR printing presses.