Over the past several months there has been a number of analyst “predicting” how the Federal Reserve Note, U.S. dollar is going to collapse or the impact the renminbi being added to the SDR basket of currencies is going to blow apart the financial system and my personal favorite gold backing this currency or that currency while gold begins moving to $10,000 per ounce. If you want facts you discuss changes with the people that are actually influencing the changes or a member of the team creating the change.
Dr. Warren Coats served on the IMF from 1976 to 2003. He became chief of the Special Drawing Rights (SDR) division in 1983 and remained until he retired. Dr. Coats has more experience with the SDR than anyone else on planet earth. He also knows a little something about currencies after working with well over twenty different countries to either strengthen their currency or develop a new currency. Dr. Coats understands gold and understands gold as money.
I have stated before discussing the SDR is about sexy as discussing grass growing, however, sometimes sexy is not what we need. This is one of those times. Our economy is in serious trouble, our financial system is in deep water and sinking and it appears we are in the beginning stages of a major global change to our currency. Maybe sexy is the last thing we need in order to understand exactly what is going on.
I sat down with Dr. Coats to find out what exactly is going on with the changes to the SDR, the potential future of gold and the impacts these changes will have on the Federal Reserve Note, U.S. dollar. If you would like to get some history and a glimpse at some potential changes pull up a chair and give this a good listen.
After discussing The Big Reset with Willem Middelkoop it only made sense to discuss the SDR with one people that know it best. I would encourage everyone to listen, share and pass along this interview to people that want to better understand what has recently happened and the potential impact on our future this change could bring about.