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RE: Get Ready For A World Currency By 2018
Interesting read , the one world currency is all ready in place its called the SDR standard drawing rights they have been planing this for a long time. I would imagine that when the petro dollar finally fails they will begin to roll it out, cheers mike
Correct Mike, the SDR is the IMF's doing. This past year saw the inclusion of the Chinese yuan in the SDR, showing just how influential China is.
I suspect that the digital ledger tech supporting today's cryptos will be implemented by central banks/national governments and backed by the SDR in the not too distant future. They will likely enact this one world currency after a sovereign debt crisis, bond market collapse, or equity sell off. This will leave them with the ability to keep their system running should fiat lose its luster.
That is not to say that today's crypto cannot continue its price surge in the coming year. I am positioning for a "melt up" in cryptocurrencies. However, once the business cycle takes a turn (and more importantly, global debts come due & central banks are illiquid) who knows what will happen. Historically, the most speculative assets sell off the hardest during any contractionary event, and it's pretty clear that speculative money is flooding into crypto. So it stands to reason crypto will be correlated to the overall market should a major recession occur (however, I go back and forth on this correlation).
Longer term, it seems inevitable that the IMF and central banks will collude to make sure their portion of the pie stays fully intact, if not larger due to the complete transparency crypto offers. This is just my two cents, folks. The more people learn about these things (rather than just looking to get rich) the better chance crypto has of improving the system.
Thank you very much for a fantastic reply, you could of done a full post with that, cheers mike
I second @mikenevittt comment that was really through. I do think that crypto is a hedge against uncertainty. If things start getting better in the world then there is no reason for people to fear and take their money out of the system.
@alao and @mikenevitt it is all about spreading the correct information these days my friends. It's a rather nuanced topic to cover, but I plan on structuring my thoughts into a post in the near future. Would be happy to have you gents follow along and keep the discussion going! Best
Interesting... I never heard of Standard Drawing Rights. Looks like I'm going to be doing some googling today. Thanks for the insight!!!
Yes it belongs to the IMF I believe, cheers for your reply mate