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Awoke
13th May 2010, 03:41 AM
Courtesy of GATA and Eric King of Kings World News:



IMF plots world money issuance without accountability, Rickards tells King
Submitted by cpowell on 07:32PM ET Wednesday, May 12, 2010. Section: Daily Dispatches
10:30p ET Wednesday, May 12, 2010

Dear Friend of GATA and Gold:

James G. Rickards, senior managing director for Virginia-based research firm Omnis Inc., was interviewed for 19 minutes today by Eric King of King World News and remarked that world government is under construction, and it's not the hallucination of the paranoid fringe. Rather, Rickards said, it's being arranged at the International Monetary Fund, whose Special Drawing Rights are being prepared to replace the U.S. dollar as the international reserve currency. While this might terminate the unfair advantages given to the country that issues the reserve currency, Rickards said, it creates other problems: The IMF has no direct accountability to anyone and indeed letting it issue SDRs as a reserve currency would be money creation without any accountability at all.

Rickards expects gold to rise to $2,000 in the near term and $5,000 in the long term.

You can listen to his interview at King World News here:

http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/5/13_Jim_Rickards.html

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

Awoke
13th May 2010, 09:07 AM
I am a KWN fan already, but this interview was enjoyable.

You guys and gals should really check it out.

gunDriller
13th May 2010, 11:34 AM
http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/5/13_Jim_Rickards_files/Jim%20Rickards%205%3A12%3A2010.mp3

for the interview.

he does a good job explaining Triffin's dilemma, which has to do with the use of a country's currency as a central reserve currency.

it sets up a conflict - what is good for the currency of the nation is different than what is good for the currency as a reserve currency.

http://en.wikipedia.org/wiki/Triffin_dilemma

i have a hunch - one way to solve/ remediate Triffin's dilemma is to use market manipulation to reduce the price of precious metals as measured in the national currency used as a world reserve currency.

anyway, Rickards talks about the NEW currency created by the IMF, with the name "Special Drawing Rights" - SDR's. they are created out of thin air and exchange rates with the IMF member nations' currencies are established by the IMF.

in other words, it's "Jewish Central Banker" on steroids.

Rickards does a good job describing the financial machinations used by the Zio-bankers in support of their other geo-political ends ... though he doesn't use the word Zio-banker.

that's our job. 8)

who was it, Paul Wolfowitz who was head of the IMF during the Bush administration ?