Will Grigg?s Liberty Minute

April 8, 2009

Last week?s G-20 summit in London laid the foundation for a global fiat currency.

According to Point 19 of the joint G-20 communique, signatories ? including the Obama administration ? agree ?to support a general SDR allocation which will inject $250 billion into the world economy and increase global liquidity.?

?SDR? refers to Special Drawing Rights, a kind of international cashier?s check issued by the International Monetary Fund. That function of the IMF has been dormant for a half-century. This has changed now that the ever-depreciating U.S. dollar is losing credibility as a global reserve currency.

As British financial commentator Ambrose Evans-Pritchard observes: ?In effect, the G-20 leaders have activated the IMF?s power to create money?. In doing so, they are putting a de facto world currency into play? outside the control of any sovereign body. Conspiracy theorists will love it.?

One is constrained to observe that there is nothing ?theoretical? about this particular conspiracy.

Let us take back the liberty wherewith Christ has made us free.