This piece adds credence to the Kiwiwatch Reading the Market Soothsayers post where Jim Rickards expands on the Chinese Yuan being added to IMF Special Drawing Rights (SDR’s). Most importantly he alerts us all about the fact that the IMF changing the rules about not lending to any country that is in default to another country (i.e. Ukraine’s $3billion debt to Russia) divides the worlds economic system into another cold war, a financial cold war. The IMF is an instrument and tool of Washington neocon foreign policy.
Here is Michael Hudson, among the best economists in the world, telling truths to Germany’s Roman Baudzus of wirtschaftsfacts: