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Over 35 years experience working in oil and gas accounting with privately held oil and gas producing companies. Also have a blog that covers monetary system issues and the potential for major future monetary system change. (  - email: ... more

Monetary System Reform - Various Ideas Exist

Date: Thursday, June 30, 2016 4:42 PM EDT

This blog is dedicated to following events that might eventually lead to major change in the present global financial and monetary system. My research on this topic indicates that there is much widespread agreement that the present system is at risk from a stability and sustainability point of view. As time goes by I see more and more highly respected economists and monetary system officials (present and former) discuss the risks to the stability of the current system. Also, highly regarded fund managers and investors are speaking out.


We have documented the many warnings along these lines that have been issued by officials at the IMF and the BIS (Bank for International Settlements) over the past 2 plus years. We have discovered that many very high credibility experts including William WhiteRobert PringleWarren CoatsMervyn King and others have concerns about stresses on the current system including stress caused by the US dollar being the world's primary reserve currency. We have long covered the forecasts by Jim Rickards and Willem Middelkoop that a reset of the present system will be needed under "new rules of the game."


All of this suggests that it is reasonable to suspect that at some point in the future the stress on the current system may lead to reforms/changes to some kind of new system. The whole point of this blog is to watch for that kind of change. 


Another interesting aspect of the research I have done on this topic is that there are a variety of ideas on how to reform the current system should that be needed in the future. Below I will do a bullet point list with examples of some of the various ideas I have seen along with links to where you can find more information if you like.



Dr. Warren Coats (former IMF) - Real SDR Proposal - Dr. Coats proposes that the SDR used at the IMF might be able to serve as a global reserve currency if it were issued by a Currency Board and with what he calls a "hard anchor". He proposes that a basket of goods be used for the anchor. (see the links for more information and this Q&A interview we did earlier this year with Dr. Coats)

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