It all started only a few years ago, when the International Monetary Fund (IMF) designated the Chinese yuan as a reserve currency by including it in its basket of Special Drawing Rights (SDRs).
We may remember the event as “the day the dollar died” – when SDRs replaced the USD as the world’s sole reserve currency – in years to come.
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How the USD Could Be Destroyed by This “Monetary Earthquake”
This, according to Jim Rickards, is a “monetary explosion,” owing to the fact that nations no longer have to trade in dollars. Instead, they will FLOOD the market with unwanted greenbacks by selling their trillions in reserves.
According to Rickards, the IMF can expand the function of SDRs, making China a “vital component of the new world money order.”
Here’s How to Break Free from the Dollar
Dr. Ron Paul provides one basic piece of advice for preparing for a falling dollar: buy gold. In a nutshell, he refers to it as his “insurance against the dollar crisis.”
Converting your IRA or 401(k) into a “Self Directed” Gold IRA is one of the easiest ways to get into gold and silver today.
While you still have the opportunity, get a free gold information kit and use the IRS Tax Law to convert your IRA or 401(k) to precious metals – with no tax implications.