Step 7. The Global Currency.
As the American dollar value collapses during the Transition time, and all the world`s currencies with it, there will arise from the `ashes` the new world currency.
To encourage more use of the Special Drawing Rights, (SDR`s) the International Monetary Fund, (IMF) will offer a once only exchange of U.S. dollars held in a nation`s reserve, for the SDR`s. This will in effect make the nation`s currency a digital version of the SDR.
The Central Banks of the world will thus have their digital currency backed by the International Monetary Fund`s (IMF) Special Drawing Rights. (SDR`s)
This in effect makes the IMF the `Lender of last resort` for the world. The IMF`s Special Drawing Rights, (SDR`s) will be held by every country`s Central Bank giving the IMF the power to create the money of the world - a world currency.
