I have been saying for a long time, that China is an existential threat to the West.  With respect to Australia, as I will detail in another article, some Australians are going to be lucky to even have enough water in the future. But for now, consider:
  https://www.breitbart.com/asia/2020/01/16/human-rights-watch-china-poses-existential-threat-rights-people-worldwide/

“An unchallenged China will herald in “a dystopian future in which no one is beyond the reach of Chinese censors, and an international human rights system so weakened that it no longer serves as a check on government repression,” Human Rights Watch warned in its annual report on the country published Wednesday. The 2020 China report from the non-governmental organization (NGO) accused both states friendly to China and corporations that do business with it of “enabling” China’s increased use of violence and systematic state repression to silence political dissidents, religious groups, and ethnic minorities. Human Rights Watch published the report shortly after Beijing banned its executive director, Kenneth Roth, from traveling to Hong Kong for an event to release it. Roth presented the report at an event in New York at the United Nations headquarters instead, despite the report being heavily critical of the U.N. as an institution. The report also attempted to criticize President Donald Trump for referring in friendly terms to Chinese dictator Xi Jinping, but ultimately conceded that “the Trump administration is one government that has been willing to stand up to China, best evidenced by its October 2019 imposition of sanctions on the Xinjiang Public Security Bureau and eight Chinese technology companies for their complicity in human rights violations.”

     The resource war, especially the battle for water is now on, and China is making sure that it does not get thirsty. As for the local Aussies on water rations, well the governments will be doing all they can to do precisely nothing, and allow China first, second and third drink, as is the law of the New World Order:
  https://www.theguardian.com/environment/2020/jan/02/queensland-government-was-warned-about-risks-of-chinese-companys-water-extraction

“Queensland government experts raised repeated warnings about the long-term sustainability of groundwater extraction at a southern Queensland property which has since been approved to operate as a commercial water mine. The approval for the 96m litre a year bottled water extraction operation at Cherrabah – in a severely drought-hit area where locals are on water rations and communities at imminent risk of running dry – has raised significant questions about the oversight and regulation of critical water resources in Queensland. Documents obtained by Guardian Australia show how longstanding concerns about groundwater security at Cherrabah were overridden by changes to Queensland law enacted by Campbell Newman’s government in 2013. Under the changes, the Chinese-owned company Joyful View Garden Real Estate Development Resort Pty Ltd was automatically granted a 94-year extraction permit at Cherrabah when a short-term allocation expired in 2017. Written concerns outlined in the documents obtained by Guardian Australia include the expert review of a study commissioned by Joyful View in 2009 that was the basis for its subsequent water extraction applications. The study contained repeated qualifications that its modelling could not be relied upon for a period longer than 12 months.

To The Northern Daily Leader

  Dear Sir/Madam

     My memory is still long enough to remember that we (Australia) applied sanctions against Rhodesia for the "terrible" Smith regimes alleged repression of the people of that nation. Also against South Africa for same reasons.  Sanctions have been applied to other nations as well and it strikes me as odd that we have not applied sanctions on China and demanded “regime change” because of China's repression of her people’s. Have I missed something somewhere, is there a good reason for this or are we already a colony of China? So went a letter I sent and was published at least locally in Inverell 2 weeks ago. Today I read that there is a Communist China flag flying over a Police Station in Victoria. This as reported in On Target by James Reed and I commend watching the Andrew Bolte video clip. Note what he says that this flag does NOT necessarily represent those Chinese who came to Australia years ago. Also the fact that whilst that flag flies over our police station down there we see Chinese in Hong Kong standing their ground against a power they know to be completely undesirable, untenable for them for them to even contemplate, ie to be swallowed up by the totalitarian control of a state where the State is god. They have had a taste of freedom and know what is happening inside China, whilst here in OZ we have no idea what it is to live in a police state. Read Solzenitzen, it is happening here, ALL our political parties have sold us out, Why do we vote for them, to do so is to be complicit in the betrayal of our nation and our Christian heritage. We can only pray that our own people, especially those we call leaders and pastors in our churches will come to realize what we have BEFORE it is gone. This is what my words about the lies that blind in DYNOEMS is all about.

     I was pleasantly, if not peasanty, surprised to read this glimmer of opposition to the New World Odour, sorry, Order, by our pm. Yes, the NWO even mentioned by name in the article, not an invention of my fervoured imagination. But it seems like only yesterday that when Eric Butler and Jeremy Lee spoke about the New World Order, the mainstreamers poo-pooed it, but now, well here you go:
  https://www.theaustralian.com.au/nation/politics/pm-slap-for-un-in-new-world-order/news-story/b9e5a5f5058d69c7e2ae449275770154

“Scott Morrison has declared his government will lead the charge in asserting the authority of nation states over unelected international -institutions, such as the UN. The Prime Minister, in a major foreign policy address to the Lowy Institute on Thursday evening, signalled Australia would seek to play a greater role in shaping a new economic and strategic world order. Mr Morrison’s speech was aimed squarely at the push by the UN to set the global agenda on issues such as climate change and refugee policies. As democratic nations increasingly band together to counter a rising China, Mr Morrison announced he would visit India and Japan early next year and Indonesia next month. Mr Morrison’s visit to Washington DC late last month sparked debate about how the nation should balance its relationship with the US and China, but he told the Lowy Institute it was not a “binary” equation. While Mr Morrison recognised the benefits the global economy had brought Australia, he declared that the ballot box should always be more powerful than international institutions. He warned that where elite opinion became disconnected from the mainstream of societies, it could foster a sense of resentment and disappointment. “(It is) an era of insiders and outsiders, threatening social cohesion, provoking discontent and distrust,” Mr Morrison said. He said Australia would partner with the international community through “practical globalism” and vowed to make fresh efforts to reshape inter-national rules, starting with a new audit of global institutions and rule-making processes. “We should avoid any reflex towards a negative globalism that coercively seeks to impose a mandate from an often ill-defined borderless global community. And worse still, an unaccountable internationalist bureaucracy,” Mr Morrison said. “Only a national government, especially one accountable through the ballot box and the rule of law, can define its national interests. We can never answer to a higher authority than the people of Australia.” He said Australia had played its part over the generations to build a better world through “co-operative and respectful internationalism”. But he warned that pragmatic international engagement was giving way to a new order that sought to “elevate global institutions above the authority of nation states to direct national policies”.

     The evil, evil, more evil Australian universities may soon be facing showtime, because they have put all of their eggs in the one basket hoping that the international student market, read
“China,” will be a boom forever like the mining boom of a while back. The government rubs its dark claws together glad to be getting backdoor migrants. But, maybe not forever:
  https://www.macrobusiness.com.au/2019/09/brace-for-the-chinese-international-student-bust/

“Chinese international students are by far the biggest contributor to Australia’s education export industry. As at June 2019, there were 204,000 Chinese students enrolled in Australian educational institutions, comprising 29% of total international student enrolments. The number of Chinese international students studying in Australia is also roughly double second placed India (104,000) and quadruple Nepal (52,000), as illustrated in the next chart: Late last month, the Centre for Independent Studies (CIS) sounded the alarm on this dependence, warning that a sharp pullback in Chinese student numbers could severely damage the finances of Australia’s tertiary institutions: International comparisons reveal the excessiveness of this China exposure. All seven [major universities] have higher proportions of international and Chinese students than any university in the entire United States. Indeed, all seven appear to be more dependent on feepaying Chinese students than just about any other universities in the English-speaking world. Late last month, the Centre for Independent Studies (CIS) sounded the alarm on this dependence, warning that a sharp pullback in Chinese student numbers could severely damage the finances of Australia’s tertiary institutions: International comparisons reveal the excessiveness of this China exposure. All seven [major universities] have higher proportions of international and Chinese students than any university in the entire United States. Indeed, all seven appear to be more dependent on feepaying Chinese students than just about any other universities in the English-speaking world.

     In the “we told you so department,” here is an article saying that he adoption of neo-liberal economic policies have destroyed the West, and china has capitalised upon this, which was the only sensible thing to do when your main competition cannot resist committing suicide. Here is Paul Craig Roberts summing it all up:
  https://www.zerohedge.com/news/2019-08-24/what-globalism-did-was-transfer-us-economy-china-pcr

“The main problem with the US economy is that globalism has been deconstructing it. The offshoring of US jobs has reduced US manufacturing and industrial capability and associated innovation, research, development, supply chains, consumer purchasing power, and tax base of state and local governments. Corporations have increased short-term profits at the expense of these long-term costs. In effect, the US economy is being moved out of the First World into the Third World. Tariffs are not a solution. The Trump administration says that the tariffs are paid by China, but unless Apple, Nike, Levi, and all of the offshoring companies got an exemption from the tariffs, the tariffs fall on the offshored production of US firms that are sold to US consumers. The tariffs will either reduce the profits of the US firms or be paid by US purchasers of the products in higher prices. The tariffs will hurt China only by reducing Chinese employment in the production of US goods for US markets. The financial media is full of dire predictions of the consequences of a US/China “trade war.” There is no trade war. A trade war is when countries try to protect their industries by placing tariff barriers on the import of cheaper products from foreign countries. But half or more of the imports from China are imports from US companies. Trump’s tariffs, or a large part of them, fall on US corporations or US consumers.

To The Advertiser, The evidence of Communist China’s influence in Australia has strengthened since books like “Silent Invasion” surfaced a couple of years ago. Our trade with China, whether it be exports of agricultural products, coal and iron ore or the university education multi-million dollar ‘industry’ we provide; we are clearly addicted to it.  No finger of criticism of China can be raised without a warning that, “we should be careful to not offend our major trading partner!” By example, witness the warning about China from Andrew Hastie which was quickly countered by Trade Minister Birmingham. Each time we cringe, China squeezes the claws tighter. It is ironic that former Prime Minister Tim Fischer, who died today, was a Vietnam veteran who fought in a bid to defeat the encroaching communist dictatorship; whilst today Prime Minister Morrison is in Communist Vietnam hoping to establish more trade and closer ties. Australia is becoming too dependent on communist nations to keep our economy afloat and our sovereignty is being compromised.
Yours etc
  Ken Grundy, Naracoorte SA

     An older story, but still relevant in the light of New Zealand’s gun banning frenzy, which traces the financing of the ever politically correct Jacinda Arden’s Labour Party, which unlike the Australian version, still retains the “o,” in its name, which could be meaningful:
  https://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=12058818

“An influential United States Congress hearing has been told "one of the major fundraisers for Jacinda Ardern's party" is linked to the Chinese Communist Party and it showed China had penetrated New Zealand's political networks. As a result, US lawmakers needed to consider whether New Zealand should be kicked out of the Five Eyes intelligence alliance because of problems at its "political core". The bombshell testimony included claims from a former Central Intelligence Agency analyst that "anything on China that was briefed to Bill English was briefed to Mr Yang Jian", the National MP revealed last year as having trained spies for China. The hearing of the US-China Economic and Security Review Commission was aimed at gathering evidence on China's relationship with traditional US allies. UN Senator James Talent - once touted as Donald Trump's pick for Secretary of Defence - raised concerns about "a sharp rise in political donations" from Chinese Government-backed bodies to political parties in Australia and New Zealand. China's actions included getting people linked to the Communist Party or People's Liberation Army elected and had made it worth the while of political figures "to parrot its line on issues it deems important". "It's important for the United States to consider that China may be testing methods of interference to probe for weaknesses in democracies in order to use the same techniques against Western countries in the future." The hearing heard testimony from former CIA analyst Peter Mattis who said the Chinese Communist Party had worked "very close to or inside the political core" of Australia and New Zealand and "one of the major fundraisers for Jacinda Ardern's party has United Front links". "That, you have to say, this is close enough to the central political core of the New Zealand system that we have to think about whether or not they take action and what kinds of action. What do they do to reduce the risk?"

     I have been writing about the China thereat for so long I cannot remember, and before me, the great Eric Butler expressed his concern, back even before the internet, when everything was done in paper, something I miss, hating computers. But I digress, when my concern is this, the latest in the Andrew Hastie debate about China on the road to world domination, giving some background information:
  https://www.smh.com.au/politics/federal/hastie-s-awakening-to-xi-s-bid-for-total-control-of-china-and-beyond-20190809-p52for.html

“In earlier years Hastie had noted China's vast, global infrastructure project, the Belt and Road Initiative spanning at least 68 countries to date, and still in its early phase. But it didn't occur to him that this might be just a minor part of a much bigger Chinese strategy until he opened an email from John Garnaut early last year. Garnaut is an Australian former Beijing correspondent for The Age and the Herald. He'd been retained by Malcolm Turnbull to write a classified report on China's operations in Australia. Garnaut's findings so alarmed the government that it led directly to Turnbull's bill outlawing foreign interference in Australia, a bill Labor helped pass into law. The Garnaut report remains classified. But Garnaut did send Hastie something else he'd written. As Hastie read, it struck him like a thunderclap. We all know that China is vital to the living standards we enjoy every day in Australia. And we all know that our dominant trading partner is driven by an ideology that's alien to our own. But how many of us have taken the trouble to study that ideology? And especially to study it in the way that Xi Jinping is implementing it in the world's rising superpower?

     Another look at the absolute absurdity that is Sweden, which by some miracle still exists. So, on the one hand we have feminist trade policies:
  https://www.thelocal.se/20190802/swedish-minister-calls-for-feminist-trade-policy

“Sweden plans to introduce a 'feminist trade policy' to ensure that female manufacturers, entrepreneurs and consumers benefit equally from trade policy. "Trade policy today benefits men more than women. Therefore, the government is now investing in a feminist trade policy that will contribute to the economic development of women and men to an equal extent," International Trade Minister Ann Linde wrote in an article published in Aftonbladet on Friday. She pointed to "inexplicable gender-coded differences in customs duties", which mean that products aimed at women typically have higher duties than those made for men. The feminist trade policy would also include a focus on gender equality in standardization issues, for example in vehicle safety. Linde states that women are 47 percent more likely than men to be injured in car accidents because safety standards are created based on male bodies. Another of the policy's aims is to simplify EU-wide trade in the service sector, which employs more women than men, in order to create more jobs and export opportunities, Sweden is well known for its feminist foreign policy, which was first launched when Prime Minister Stefan Löfven's centre-left government came to power in 2014 and includes international aid for reproductive health and promotion of women's rights globally.”

     Civilisations collapse when the elites become self-destructive in their greed and evil. This is a theme common to much of the reporting at this blog. Is it true? A scholarly book explores the same theme:  Anne Glyn-Jones, Holding Up a Mirror: How Civilizations Decline, (Imprint Academic, Thorverton, 1996). There is also a very good video about this which can serve as Collapseology 101, an introduction to this topic by Paul Joseph Watson, who argues that almost every factor that led to the collapse of past civilisations, can be found in the West, and there are more as well, generating a situation of over-determination:
  https://www.youtube.com/watch?v=ELoFwPwIQm0

     First, on the Glyn-Jones book, there are informative remarks given in an interview, saving us time in reading the book:

     This international bestseller caused a few ripples when it was learned that, for this English language version, some references to the power wielded by the Rothschild family which appeared in the original 2017 Spanish first edition, have been omitted. A storm in a teacup: the author appears genuinely to have avoided negative bias against any political, ethnic or religious group. He is a colonel in the Spanish army and was formerly chief of counter-intelligence and security for the European Army Corps. He is said to be one of Europe’s top specialists in geopolitics, terrorism and intelligence.

     It is a sobering account, drawing from worldwide evidence taken from the near and far past, as well as present time. It is an antidote to much of the half-baked idealism common in Australia among political commentators and agitators. In his introduction Banos remarks: ‘The powerful have always tried to seize control wherever their tendencies can reach…..It’s important that we are aware of these strategies that allow the powerful to rule the world. We like to think of ourselves as free individuals who make autonomous choices about our lives….. However, we are in fact continually being induced to make certain choices, and the same thing is happening at the geopolitical level – countries are manipulated into making particular decisions and alliances, and their populations have no say in the matter.’

     President Trump is the very definition of a cuck puppet president, a low intellect fool, used as a tool by the real powers to be of the Deep State and beyond. Thus, he breaks every electoral promise made to traditional America who put him in place, then follows to the letter everything a globalist like Jared whispers in his senile shell-like ear. Harsh, but how else to explain “his” insane decisions, such as now selling arms to Taiwan! Of all things, China sees Taiwan as part of itself, and the case for this is overwhelming, it is like you Aussies saying that Tasmania is part of Australia, only much stronger:
  https://supchina.com/2018/11/26/kuora-explaining-chinas-case-against-taiwan-independence/

     No sane country should stand in the way of China and Taiwan reuniting in my opinion, and certainly it is not worth a nuclear war over it, as China has said that economic production and business will be as usual. China has already gone on a war footing because of the arms sale’s proposal, the dopiest, and most inflammatory of Trump’s long list of blunders.
  https://www.aljazeera.com/news/asia-pacific/2019/07/china-holds-military-drills-approves-arms-sale-taiwan-190714053228921.html
  https://www.aljazeera.com/news/2019/07/china-vows-sanctions-firms-taiwan-arms-sale-190712133310269.html

     Is it possible? Can there be someone more afflicted with the disease of globalitis than Hillary Clinton? Yes, old Democrat Joe Biden.
  https://www.breitbart.com/politics/2019/07/11/biden-lays-out-globalist-vision-to-counter-trumps-america-first-agenda-i-respect-no-borders/

“Biden, who has been criticized by former Obama administration colleagues for being on the “wrong” side of most international issues, began his remarks by noting that American policies at home and abroad are “deeply” intertwined. “In 2019, foreign policy is domestic policy, in my view, and domestic policy is foreign policy. They’re deeply connected,” the 76-year-old Democrat frontrunner said. “A deeply connected set of choices we make about how to advance the American way of life and our vision for the future.” “I respect no borders and cannot be contained by any walls,” Biden added, taking a shot at Trump’s efforts to reassert control over the U.S.-Mexico border. With that in mind, the former vice president committed to leading “an effort to reimagine” America’s global priorities. At the top of his list was preventing nuclear proliferation, which Biden hoped to accomplish by rejoining the Iran Nuclear Deal and extending the New START Treaty between the U.S. and Russia. Both are Obama-era initiatives widely interpreted to have been negotiated to the detriment of U.S. interests. The Iran Deal, which Trump abandoned soon after taking office, would have removed sanctions and given the country millions in financial relief in exchange for little oversight on their commitment to shutter their nuclear arsenal. Likewise, the New START Treaty, which is still in effect until 2021, has been criticized by Trump for allowing Russia to violate its parameters. Apart from reentering the nuclear deal, Biden signaled he would further take pressure off Iran by ending U.S. support for Saudi Arabia’s war in Yemen. The conflict has been brewing since 2014, when Houthi rebels, backed by Iran, attempted to overthrow the Yemeni government. Saudi Arabia, seeking to counter Iran’s influence in the Middle East, interceded to defend Yemen through aerial bombardment. Although the bombing likely staved off the collapse of the Yemeni government, it has been blamed for civilian causalities. There is also debate in Congress as to whether America’s support for the Saudis requires military authorization.”

     Here, by way of summary are the latest moves of the European elites to create a United States of Europe, even while the present USA is falling apart. The one world dream is a delusion deriving from the same source as communism, but perhaps more powerful given the dark money interests always behind it.
  https://www.gatestoneinstitute.org/14503/european-union-towards-superstate

•     “German Defense Minister Ursula von der Leyen, nominated to be the next President of the European Commission, has called for the creation of a European superstate. "My aim is the United States of Europe..." she said in an interview with Der Spiegel. She has also called for the creation of a European Army.
•     Belgian Prime Minister Charles Michel, nominated to be the next President of the European Council, has said that Eastern European countries opposed to burden-sharing on migration should lose some of their EU rights. He is also a strong proponent of the Iran nuclear deal.
•     Spanish Foreign Minister Josep Borrell, nominated to replace Federica Mogherini as High Representative of the Union for Foreign Affairs and Security Policy, is a well-known supporter of the mullahs in Iran. Borrell has also said that he hopes Britain will leave the EU because it is an impediment to the creation of a European superstate.
•     International Monetary Fund Managing Director Christine Lagarde, nominated to be the next President of the European Central Bank, has supported U.S. President Donald J. Trump's trade war with China. "President Trump has a point on intellectual property. It is correct that nobody should be stealing intellectual property to move ahead.... On these points clearly the game has to change, the rules have to be respected."
•     "The best cure for Europhilia is always to observe the EU's big beasts at their unguarded worst... unencumbered by any attachment to democracy, accountability or even basic morality... [W]e witnessed rare footage of the secretive process that propels so many retreads and second-rate apparatchiks into positions of immense power in Brussels and Frankfurt, utterly disregarding public opinion.... Everything that is wrong with the EU was shamelessly on display." — Allister Heath, The Telegraph.”

     There is no doubt about it, but the globalists are in this until the entire planet is reduced to a crisp, like toast left in the toaster for way too long. Nothing, not even the failure of open borders immigration has caused them to pause. It will be a battle to the last breath, and the politically obese will fall, even before the start line.

     Many a letter I have written saying that the US border crisis can be solved by Mexico actually doing something, and that economic sanctions need to be slapped on them. Trump is threatening this now, it sounds good, but whether this will happen or not remains to be seen.
  https://www.breitbart.com/politics/2019/05/30/donald-trump-declares-he-will-increase-tariffs-on-mexico-until-illegal-immigration-remedied/

“President Donald Trump made good on a promised immigration announcement Thursday night, proclaiming he will increase tariffs on Mexico. “On June 10th, the United States will impose a 5% Tariff on all goods coming into our Country from Mexico, until such time as illegal migrants coming through Mexico, and into our Country, STOP,” President Trump wrote in a Thursday night tweet.

     The idea of film wars appeals to my twisted sense of perspective; that before the shooting war, there will be a battle of the celluloid:
  https://www.zerohedge.com/news/2019-05-19/china-state-run-media-broadcasts-anti-american-movies-millions-amid-deepening-trade

“With the trade war between the US and China suddenly erupting after a 5-month ceasefire, CCTV 6, the movie channel of China's leading state television broadcaster, aired three anti-American movies last week, reported What's On Weibo. The three movies are Korean war films: Heroic Sons and Daughters (1964), Battle on Shangganling Mountain (1954), and Surprise Attack (1960), which aired about one week after President Trump raised an existing 10% tariff on $200 billion worth of Chinese goods to 25%. All last week, anti-American propaganda flourished across the country, with the slogan "Wanna talk? Let's talk. Wanna fight? Let's do it. Wanna bully us? Dream on!" going viral on Chinese social media platforms. CCTV 6 broadcasted the movies to 500 million people in 23 provinces. The films fall under a category called "Resist America, Help North Korea," first debuting at the end of the Korean War (1950-1953). The first movie is Battle on Shangganling Mountain, also translated as Battle of Shangganling. It depicts a group of Chinese soldiers who are fighting against American soldiers on Triangle Hill. The second movie is Heroic Sons and Daughters tells the story of a political commissar in China's Army runs into his lost son and daughter in North Korea during the Korean War. The movie shows how China and North Korea were battle buddies against the Americans.

     President Rump cannot control the massive influx of illegals at the US/Mexican border, a product of the Left/Democ-rats making an example of anyone even giving token lip service to regulating immigration. But he is talking tough on the Iran issue though, hoping to provoke war so that his neo-conmen masters will pat him on his otherwise empty pointy head:

Donald J. Trump
✔@realDonaldTrump

     I saw a great electoral advert by the United Australia Party about the Chinese takeover of Western Australian mining resources. Here is some written material about this:
  https://www.unitedaustraliaparty.org.au/wa-labor-government-supporting-secret-takeover-of-australia/

“Media release
WA Labor Government supporting secret takeover of Australia
The Labor government was supporting the clandestine takeover of Australia by granting Chinese communist government owned companies extraordinary powers to build and operate strategic assets in WA. That’s the stark assessment from the Leader of the United Australia Party’s Senate Team for Western Australia, James McDonald, who says allowing Chinese state-owned conglomerate CITIC Limited to build a jet airstrip in the Pilbara and exercise control over the deep water port at Cape Preston should be deeply concerning for all Australians. “Under a cloak of secrecy with the help of the Labor party,   Chinese communist government owned companies have built a private jet airport approximately 80km south of Karratha and the existing Karratha airport,’’ Mr McDonald said.

     The globalists are moving to the next stage of tyranny, after mixing up peoples by immigration; now it is time, they think, to roll out the one world money supply, to control, everything.
  https://www.zerohedge.com/news/2019-04-05/it-begins-former-un-under-secretary-general-calls-one-world-currency
  https://www.project-syndicate.org/commentary/imf-special-drawing-right-global-currency-by-jose-antonio-ocampo-2019-04

“The best alternative would be to turn the IMF into an institution fully financed and managed in its own global currency – a proposal made several decades ago by Jacques Polak, then the Fund’s leading economist. One simple option would be to consider the SDRs that countries hold but have not used as “deposits” at the IMF, which the Fund can use to finance its lending to countries. This would require a change in the Articles of Agreement, because SDRs currently are not held in regular IMF accounts. The Fund could then issue SDRs regularly or, better still, during crises, as in 2009. In the long term, the amount issued must be related to the demand for foreign-exchange reserves. Various economists and the IMF itself have estimated that the Fund could issue $200-300 billion in SDRs per year. Moreover, this would spread the financial benefits (seigniorage) of issuing the global currency across all countries. At present, these benefits accrue only to issuers of national or regional currencies that are used internationally – particularly the US dollar and the euro.