War on the Dollar

The World Economic Forum, other global and regional institutions, and powerful individuals like Bill Gates are calling for a “great reset” of the economy in response to the pandemic. They say this will help eliminate poverty. Plans include the introduction of wealth taxes, governmental regulations and infrastructure-spending programs. After shutting down the economy, they plan to rebuild it in a socialist style.

This is a direct attack on the current global financial system—specifically on its dependence on America. The coronavirus is being used as a pretext.

One system already in place is intended to replace the United States dollar as the global reserve currency. In the 1970s, people feared the dollar would lose its value. The proposed solution was special drawing rights (SDRS) allocated by the International Monetary Fund (IMF). SDRS were created as “the principal reserve asset in the international monetary system.” Thus far, they have gotten little use. But because of the pandemic, SDRS have received fresh life.

American economist and author Jim Rickards warns that the use of SDRS could cause the dollar to cease to function as the global reserve currency. Instead, he warned, it would become a local currency that is no longer used to determine the price of oil nor as the settlement and balance of payments between countries. The large corporations could then “publish their financial results in SDRS, not in dollars.”

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