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The only part of this I would take with a grain of salt is the 'very soon' prediction. It could take years, but the BRICS (Brazil, Russia, India, China, South Africa) countries have long been talking about a new currency to replace the dollar and they are now in an advanced phase of their project.
Here is a serious warning:
While the Obama-Bernanke team continue to issue unbacked
currency, or rather currencty backed only by the US military, a powerful
alliance is at work planning a real reserve currency backed by gold. And this
alliance is not interested in fraudulent Keynesian games. They know Keynesianism
was a spinoff of Marxism and they have seen Marx up close and personal and are
through with that experiment. The deluded West is coming to the end
of another attempt to make it work one last time. The end of the experiment
will the end of Western hegemony just as the end of communism was the end
of the Soviet Union and Mao's revolution.
Now think about this for only a few seconds. If you were a
neutral nation with no stake in the currency game, which currency would you want
to do business in: A currency backed by gold that may not be manipulated by
overprinting, or a currency kept afloat by inflationary quantitative easing and
an aging, rusting military that is looking increasingly vulnerable compared to
the Russian and Chinese military, with their devastating Satan missile on the
one hand and the Dongfeng 41 on the other, either of which could reduce the US
to a parking lot in a matter of seconds? (Have you read my translation of the
Dongfeng 41 report? If not, ask for it).
This is not quite what the Western elites had in mind. They
think their banks can continue to cause inflationary havoc everywhere and no one
can stop them.
Power crazed tyrants never see it coming.
Don Hank
http://investmentwatchblog.com/chinas-central-bank-official-calls-for-new-monetary-system-offers-next-step-in-removing-dollar-from-reserve-currency-status/
China’s Central Bank Official Calls For New Monetary System, Offers Next Step In Removing Dollar From Reserve Currency Status
It was just one day ago that we wrote the following: “The fact is that
the US is currently exporting their (monetary) inflation. Lots of the newly
created dollars end up at foreign central banks making abroad currencies weaker.
But … the dollar is increasingly disliked and bypassed in trading agreement of
the BRICS as we reported here, here,
and here.”
Almost at the same moment of writing, an article appeared from Yao Yudong,
one of the officials of the People’s Bank of China’s monetary policy committee,
in which “he calls for a new Bretton Woods system to strengthen the
management of global liquidity”. According to Zerohedge, “Yao
called for more power to the IMF as international copperation and supervision
are needed. [...] Contrary to prevailing misconceptions that the SDR may be the
currency of the future, China just may opt to have its own hard asset backed
optionality for the future.”
For readers that are not too familiar with Bretton Woods, the following
excerpt is a good summary. It appeared in a recent paper “Real
vs False Money” written by Claudio Grass from Global Gold Switzerland.
Monetary History: monetary system of Bretton Woods (1945 –
1968)
In July of 1944, representatives of 44 nations gathered at Bretton Woods
to discuss the post-war international monetary system. It was decided that the
US Dollar and Gold would become the sole reserve currencies. The outcome was
nothing more than America dictating the US Dollar’s official supremacy. The USD
should become the only currency convertible into gold by foreign central banks.
So all the world currencies were expressed in terms of and closely tied to the
US Dollar. In turn, the dollar was still fixed to Gold. Only the United States
could change the price of Gold meaning all other nations were forced to either
increase the value or devalue in terms of Dollars.
On Aug. 5, an official from the People’s Bank of China (PBoC), published an
article in a leading Chinese market journal suggesting that now would be a good
time to convene a new ‘Bretton Woods‘ conference
with the intention of creating and implementing a new gold backed reserve
currency to replace the dying dollar.
Official gold holdings by Russia & China: The word is slowly getting out.
China owns well over 10,000 tons of gold bullion in reserves. They have been
accumulating at a feverish pace since the 2008 Lehman bust. Actually they have
been accumulating probably since they were refused the return of the Mao
Tse-Tung era gold from the 1999 lease by Wall Street. The Manhattan crew reneged
on the deal, letting it be known in 2007. The Chinese earned the Most Favored
Nation status before the millennium change by leasing out a large block of gold
reserves. The US betrayed them on the deal, to be sure standard fare for the
American Nazis. The Beijing leaders decided five years ago to pursue Gold, and
overturn the United States with their armada of paper mache craftsmen and
bankers dedicated to espionage and hegemony. As footnote, my source informs that
under the Kremlin lies perhaps 20,000 tons of gold in reserves. They have gold
as old as the Vatican. The Eastern Orthodox has a large contingency in Moscow.
The Russia & China tagteam are fed up with the Anglo-American monetary wars.
Power is moving eastward with the gold. A new chapter cometh.
The new hundred dollar bill comes out the first week in October !!
Read more at http://investmentwatchblog.com/chinas-central-bank-official-calls-for-new-monetary-system-offers-next-step-in-removing-dollar-from-reserve-currency-status/#5x6Ycpqksg3Z2R4Y.99
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