Sunday, April 16, 2017

International Dollar vs Domestic Dollar

[Martin] Armstrong says there is going to be a major “monetary reform” in the not so distant future, and the U.S. will end up with a dollar for domestic use and a dollar used for international trade, sort of like a “domestic dollar” and an “international trade dollar.” Armstrong says, “Yes. All it is doing is replacing the dollar as the reserve currency.  That would satisfy China and Russia, and it would simply be maintained by an international board.  I strongly advise against the IMF.  It’s way, way too corrupt.”

It sounds like there would be a new international financial institution to take the place of the IMF.  The international dollar would be the new world currency.  This new institution would be like the Federal Reserve but for the whole world, and it would have Chinese and Russian stockholders.  Call it the "International Federal Reserve" or IFR, until we get more details.  The headquarters would probably remain in NYC.

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