Do you sometimes feel like you are in Alice in Wonderland, moving through an inexplicably strange new world run by nuts? Every day there is some news that knocks me off my seat and I think "This has got to be a dream. This can't really be happening". But it is happening, and nobody is doing anything to stop it. Just like Alice, America is shrinking, shrinking, shrinking, and away we go, down the rabbit hole .
"The G20 moves the world a step closer to a global currency
The world is a step closer to a global currency, backed by a global central bank, running monetary policy for all humanity.
By Ambrose Evans-Pritchard
A single clause in Point 19 of the communiqué issued by the G20 leaders amounts to revolution in the global financial order.
"We have agreed to support a general SDR allocation which will inject $250bn (£170bn) into the world economy and increase global liquidity," it said. SDRs are Special Drawing Rights, a synthetic paper currency issued by the International Monetary Fund that has lain dormant for half a century.
In effect, the G20 leaders have activated the IMF's power to create money and begin global "quantitative easing". In doing so, they are putting a de facto world currency into play. It is outside the control of any sovereign body. Conspiracy theorists will love it.
It has been a good summit for the IMF. Its fighting fund for crises is to be tripled overnight to $750bn. This is real money.
Read the rest HERE.
5 hours ago