Chat
11-29-2015, 12:44 PM
Again from numerous posts to USAWATCHDOG.com, but also now available in any Google News search about the Chinese currency, tomorrow, the IMF will vote (and is expected to approve) the Chinese Yuan as an international reserve currency. At present, there are only four reserve currencies: the US dollar, British pound, Japanese Yen, and the Euro. The predominant reserve currency for the past 70+ years (and also sole reserve currency for oil trading) is the US dollar. This is all expected to change tomorrow. Once the IMF approves the Yuan, bond holders are lining up to transfer their holdings in US dollars to the Chinese Yuan, and Russia will uniformly declare that any of its oil, may only be purchased via the Chinese Yuan.
This will begin the unraveling of the US economy, since we are so largely dependent on the US dollar as the predominant reserve currency for international trading. The Fed's expected interest rate increase in December will only exacerbate the flight from the dollar, since no reliable government statistics show any strengthening of the US economy, rationalizing such an increase.
Japan and Europe are in likewise precarious circumstances, and can ill afford China being given such status. But for the elite, looking to usher in the NWO and ultimately, one world currency (which will not be paper-based), this all plays into goals long ago established. As well as starting WWIII, the birth pangs of which we see in the Middle East.
This will begin the unraveling of the US economy, since we are so largely dependent on the US dollar as the predominant reserve currency for international trading. The Fed's expected interest rate increase in December will only exacerbate the flight from the dollar, since no reliable government statistics show any strengthening of the US economy, rationalizing such an increase.
Japan and Europe are in likewise precarious circumstances, and can ill afford China being given such status. But for the elite, looking to usher in the NWO and ultimately, one world currency (which will not be paper-based), this all plays into goals long ago established. As well as starting WWIII, the birth pangs of which we see in the Middle East.