Point 19

I copied just a few paragraphs from an article. For some reason I couldn't put a link here, but if you want to paste and copy... http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/5096524/The-G20-moves-the-world-a-step-closer-to-a-global-currency.html
A whole lot of things have happened within the last 6 months or so. It's amazing how fast things are changing. We are in the midst of an historical time (for multiple reasons). And there is God...in the center of it all...moving the hearts of kings and men as He so chooses.
I am not too smart on exactly how the dollar affects us and how intertwined it is with the rest of the world. It is interesting that Russia and China are pushing for a new currency...to not be so dependent upon the dollar. (I think they are right, by the way) It seems to me that we will be in big trouble though if the dollar was no longer the standard. It seems to me that this would be the final blow to knock us from being the one world power? I have read that China will replace us as the number one superpower within several years anyway. I am sure there must be some news articles about this issue, but I have not seen any. If any one knows of a good article on this issue (replacing the dollar as the standard) Please post in the comments for all to see. These are just some of my thoughts. I have nothing to substantiate. If anyone is knowledgeable in this area, I would love to discuss.
Here are portions of the article..

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....

The Russians had hoped their idea to develop SDRs as a full reserve currency to challenge the dollar would make its way on to the agenda, but at least they got a foot in the door.

There is now a world currency in waiting. In time, SDRs are likely evolve into a parking place for the foreign holdings of central banks, led by the People's Bank of China. Beijing's moves this week to offer $95bn in yuan currency swaps to developing economies show how fast China aims to break dollar dependence.



Ambrose Evans-Pritchard - Telegraph.co.uk