Zero Hedge: “China’s recent mini-devaluations had less to do with her mounting economic challenges, and more to do with a statement from the IMF on 4 August, that it was proposing to defer the decision to include the yuan in the SDR until next October.
The IMF’s excuse was to avoid changes at the calendar year-end and to allow users of the SDR time to “adjust to a potential changed basket composition”. It was a poor explanation that was hardly credible, given that SDR users have already had five years to prepare; but the decision confirming the delay was finally released by the IMF in a statement on Wednesday 19th.
One cannot blame China for taking the view that these are delaying tactics designed to keep the yuan out, and if so suspicion falls squarely on the US as instigators. America has most to lose, because if the yuan is accepted in the SDR the dollar’s future hegemony will be compromised, and everyone knows it. The final decision as to whether the yuan will be included is not due to be taken until later this year, so China still has time to persuade, by any means at her disposal, all the IMF members to agree to include the yuan in the SDR as originally proposed, even if its inclusion is temporarily deferred.”
Opinion: The question is when the Chinese yuan will be added to the SDR basket of reserve currencies, not if.
In our book, Antichrist: The Search For Amalek, we theorized that the addition of the yuan to the SDR would be a 2016 event. With the IMF suggesting a delay in determining the yuan’s status for the October 2015 meeting, we may have gotten it right.
The Chinese government has been working feverishly, in plain sight, to end the US dollar’s reign as world reserve currency.
Currency devaluations, massive gold purchases and even the new international bank (AIIB) for infrastructure development in third world countries, all weakened the dollar’s strength.
If all that sounds like gibberish, don’t be discouraged. It means that king dollar is on the way out and global leadership is about to change.
We have said hundreds of times that there is no nation that resembles an American superpower in prophecy. In fact it is the exact opposite and China’s moves prove that the Bible is perfect.
So get some popcorn, and wait till the Lord comes for us.