Great post from Islander 16 from SH site.

Last week I posted about a meeting that was to take place this past Tuesday in Zurich hosted by the IMF and the Swiss National Bank on the international monetary system, SDR's (special drawing rights) and the implications for gold as new possibilities for a global reserve currancy were to be considered. Jim Rickards has now posted a blog on King World News as well as an audio interview on the subject.

Jim is looking at a 1.5 year time frame now for full implementation of this world currancy. Things will quickly become much more volitile, especially in Europe, as people seek out physical gold as the only safe haven left to them. From other news reports there are now line-ups and near panic buying of the available coins and bars with producers having to work around the clock to meet the demand. What will happen when people realize most of the remaining "gold" is made out of paper as central banks continue to hoard the majority of physical?

"The G20 and the IMF will try to reliquify the system and create new money through the issuance of SDR's. At the same time, people will try to protect their wealth by buying gold."

Blog Link with a link to the audio interview at the bottom of the page:
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2010/5/12_Explosive_Gold_Catalyst_II_.html

IMF Press Release Link:
http://www.imf.org/external/np/speeches/2010/051110.htm