Make no mistake about it – this is a battle to the death.  The death of the U.S. dollar as the global reserve currency, as we know it, and if we’re not careful, the fatalities might begin to hit close to home.

In his article, “Why Mark Carney Thinks The Dollar Can No Longer Be The World’s Reserve Currency”, journalist Tyler Durden at zerohedge.com essentially argues that the new proposal for cryptocurrencies to replace the U.S. dollar as the global reserve currency is part of a greater plan to actually take over the global financial system, turning it into a cashless financial system, and controlling all of humanity through it.

As support Durden cites the outrageous speech recently given by Bank of England’s outgoing governor Mark Carney to all the central bankers in Jackson Hole, Wyoming, entitled, “The Growing Challenges for Monetary Policy in the current International Monetary and Financial System”, where the journalist rips open the ludicrous cover story nature of the controlling central bankers’ themed argument as to why the U.S. dollar’s “destabilizing” reserve status role in the world economy has to end, and why central banks need to join together to create their own replacement reserve currency, one potentially tied to Facebook’s new “stablecoin” Libra, although in reality, Carney says any old “Synthetic Hegemonic Currency” will do. Say what?

The point of the central banker’s argument isn’t necessarily lost on the rest of the world, Durden writes.  Most nations, in fact, would prefer U.S. global hegemony to terminate, and if it takes wiping out our position as global reserve currency as the energy that fuels the Western financial system, then so be it, it’s time for it to end. 

With “it” being replaced by another, valuable asset backed currency, like maybe, God forbid, gold, or even a basket of currencies, which is what the globalists controlled central bankers want – with much of the world having already been introduced to the likes of the IMF’s SDR and cryptocurrencies like bitcoin.

In his zerohedge.com articles Tyler Durden is asking all the right questions in exploring this intentional phenomenon by central banking incorporated.  Questions like, Is Libra actually The Trojan Horse for an SDR-backed “redesign of the global financial system?”   Did The IMF reveal that cryptocurrency is the New World Order end-game?  And, Did the Bank of England Boss really say China’s Renminbi will rival the dollar as global reserve currency?

Durden’s arguments have two-fold historical support. First, in a fiat currency world, one can only devalue relative to some other currency, so if all the currencies in the world need to devalue at the same time against some hard index outside of the monetary system, Carney’s point is that with the dollar being reserve currency anchor, it is becoming virtually impossible to lower its value even though it’s critical to do so. 

Second, this means that the unprecedented credit expansion that began when the last peg to gold was broken in 1971 when Nixon ended the Bretton Woods international system, has gone too far, and establishment powers are now seeking a reason to reimpose a hard monetary link:  call it a “gold standard” or, more aptly, what the central bankers want to call it is a “crypto (or stablecoin) standard”.

Which is why central bankers jaws bounced off the floor at what Carney suggests because what he suggests is that what comes next is going to be catastrophic for everyone

WHAT COMES NEXT WILL BE CATASTROPHIC

In his speech Carney utters no word about central bank corruption, collusion, manipulation, or outright dereliction of responsibilities toward humanity as being the true causes of the financial system failure.

Instead, what the spokesperson for globalist central banking wants us to believe is that it’s the dollar itself that has caused the total debasement of the U.S. dollar globally.   As if it’s a natural occurrence, cyclical in nature.

The head of the Bank of England argues that due to the U.S. dollar’s dominance of the global financial system, “risks of a liquidity trap of ultra-low interest rates and weak growth are growing.”  In other words, after the U.S. and dollar benefited for decades from being the world’s reserve currency, that status is now hurting not only the greenback and the U.S. economy, but the rest of the world too.

AS FOR POSSIBLE REPLACEMENTS

Carney is not specific in what currency we will shift to.  Regarding fiat currency alternatives the central banker suggested that the most likely candidate for true reserve currency status was the Renminbi (“RMB”), which he admitted has a long way to go before it is ready to assume such a position globally. 

And as history teaches us, the transition to a new global reserve currency may not be a smooth process.  “What he (Carney) means here is that transitions in the currency reserve hegemony status usually take place during times of war,” Durden writes.

War among nations.  War between currencies.  War between globalization and those patriots who want national sovereignty.  War by and between God’s children.