Posted on 04/05/2009 9:42:15 AM PDT by Candor7
At the G-20 summit on April 2, President Obama helped China gain power at the IMF which could assist them with their plan to get their reserves out of dollars before the coming dollar collapse.
China may want to follow up on the statement made on March 23 by Zhou Xiaochuan, head of the People's Bank of China. Zhou's idea was to turn the International Monetary Fund's (IMF's) SDRs (Special Drawing Rights) into an international reserve currency that would be guaranteed by the IMF to have a value based upon the average value of a basket of currencies. It was clear that Zhou was anticipating the coming dollar collapse when he said:
And when a country's currency is no longer used as the yardstick for global trade and as the benchmark for other currencies, the exchange rate policy of the country would be far more effective in adjusting economic imbalances. This will significantly reduce the risks of a future crisis and enhance crisis management capability.
China realizes that trade will have to get more balanced in order to get the world out of this great recession. America could balance its trade by adopting Warren Buffett's Import Certificates plan, but China would much prefer that U.S. trade get balanced by a dollar collapse. America continues to stand in the way of China's territorial expansion and continues to advocate the democratic philosophy that threatens China's totalitarian rulers. A dollar collapse would quickly reduce American power.
China's problem is that they have approximately $1.7 trillion worth of dollar reserves which would become nearly worthless when the dollar collapses. Thus, they need to get their reserves out of dollars before the dollar collapses. They can't sell their reserves outright without causing the dollar collapse, so they are looking for a transfer, negotiated with the IMF, of their dollar reserves into SDRs. At the G-20 summit this week, President Obama helped them gain power at the IMF so that they could proceed with this plan.
Just before the summit, Democrats on the House Ways and Means Committee urged Obama to get tough with China's currency manipulations, which violate Article IV of the International Monetary Fund Articles of Agreement. China's currency manipulations have directly caused China's trade surpluses and America's trade deficits, resulting in millions of good-paying American jobs moving to China.
But Obama gave China more say at the International Monetary Fund without even requiring that they comply with IMF rules, as described by Joe McDonald in his Associated Press story:
President Barack Obama and his Chinese counterpart, Hu Jintao, stuck to areas where they agree in their high-profile first meeting in London, trying to avoid fueling global economic fears by airing disputes over currency and stimulus plans....
Obama handed Hu a diplomatic victory when, according to a senior American official, he agreed on the need to change the International Monetary Fund to give China and other developing countries "an appropriate role." Beijing wants a bigger voice in managing the world's finances and has suggested its contribution to a global bailout fund might be contingent on receiving it.
President Obama was very pleased in how well the summit went. He called it a "turning point" for the world economy. Indeed the summit was a turning point, a turning point toward a dollar collapse.
Why does Obama WANT a collapsed dollar?
For those of us who have read Jonah Goldberg's signal historical analysis , well annotated, of US leftist liberal politics , the answer is quite clear. Indeed Goldberg predicted what is happening now.( Liberal Fascism: The Secret History of America's Left, from Mussolini to the Politics of Meaning). Buy, beg, borrow or steal this book and read it immediately, it will save your portfolios, and enable them to flourish. America will reject the Obama evolution. Our job will be to pick up the pieces.
Obama means to create America in his Utopian image of a Socialist State, where the "investment class" ( newly defined by Obama) is completely controlled via taxation and institutional controls. In order to accomplish this he must assure the destruction and remaking of the US economy as we know it. No factor would assure this in greater measure than a collapse of the USD. For those who have been giving Obama the benefit of the doubt, this meeting with Zou and its outcome definitely puts that doubt to rest. Good article!
We got it loud and clear. The Canadian dollar and commodities such as oil , gold and silver are one of the ways to go, as well as a viable off shore banking plan. Do it while its still legal. Many will become wealthy in skillfully exploiting the Obama failure.
In Europe, at supper, I heard two men, one working for a large bank in France say that the dollar they think will be trading against the Euro at about 33% of what it is now, within a year. THAT they say is the only way that they can keep the debt of the trillions of dollars now on the books, without everything else collapsing. But it does sound strange that Pelosi, Barney, Reid and Obama actually WANT the dollar to loose ground...
The Chinese will follow shortly and gently.
This planned devaluation will be so smooth and slick, that few will see it coming.( You will hear "never happen", "the demand for the USD is too strong" etc. and that doesn't matter one wit. Devaluation of the USD is now G20 policy.And Abamas 30 shekels of betrayal silver are worth a 1 Trillion USD G20 injection as a last hurrah.)
Obama and his white house NWO staff want the devaluation of the dollar.
. Pelosi, Barney and Reid are, as usual, busy addictively sucking the TARP/Obabudget tit and planning how to get a last shot of personal wealth out of the failed old system.They plan to lead the new US elite.The "investment class" is to be unseated.
That's Hope and Change you can count on.
That's where the line in the sand is now being drawn.
Please help me understand why the Canadian dollar would be a good investment.
All under a man who refuse to show the proof that he is a Natural Born Citizen which he is not and would null and void anything and everything that he has done including the G20. All because we have a weak Congress and Senate a weak Supreme Court, completely infiltrated Judicial system of liberal confusion governing our country.
6 posted on Sunday, April 05, 2009 5:41:20 AM by classified
Exactly right.
The Canadian dollar is a good investment, have an array of cash, Bank equities ( preferably preferred shares), and commodity equities ( oil , gas , silver and gold.) You trade into commodity stock such as Oil gold and silver equities in Canadian dollars that will hold value.You can also buy Canadian Bank Preferred shares because they pay good dividends ad will continue to do so.
The Canadian dollar is not being diluted like the USD is. It may be worth less than the USD now, but the Canadian dollar represents real value, not just shelter demand which now keeps the USD artificially high.
Just have your US broker invest in Canadian Corporate (commodity based)and Bank equities through the Toronto Stock exchange. Each USD you convert is worth $1.22 Canadian, which will soon begin a rise against the USD,.Its unavoidable. You have to chose the timing and live with it. Get good timimg advice from a pro , in Canada.
ping for later reading
Hi Candor7
Have you seen this article:
http://www.atimes.com/atimes/Global_Economy/KD03Dj02.html
I got the link at Lucianne. Don’t know if it’s posted here.
My question: Does this relate to 0’s deal with the Chinese? Could there be any benefit from the collapsing dollar to the bad paper these banks own. Are they betting that converting to an outside currency now, would allow them to pay off their debt, converting the foreign currency to devalued dollars once the collapse occurs?
This is just a notion, and I’m no economist, but I wonder.
I’m not sure how, if possible this would work.
WHich is why its good to have your money in a Canadian Bank off shore. Even America's safe banks may not be, because the will be left holding skanky USDs while others hav e converted en masse because they were in the poltical timing loop 9 Citi-Corp, Bank of America, etc)
However the euphoria of Citi corp will be short lived ideed.
The Chinese mean to control the world economy, and they will control America's.
The only thing keeping the dollar from a collapse is the Chinese buying the debt. The Chinese want to essentially trade in their dollar debt for a more solid “Global” money leaving the US out to dry. And all the jobs are there now too.
Do I have this right? And Obama in his typical butt kissing role has agreed to this?
Do you think this has anything to do with the prediction of the “Amero”?
So, can Re Tea Parties lead to 0bama Impeachment Demands?
Absolutely
You have to understand how fascists think and work. Most people are just now beginning to understand that we have a fascist in the oval office. Many Freepers have known since November of 2007 when we saw what Obama did in Kenya, that he is a fascist. At first freepers laughed at us and derided us for saying Obama is a fascist ( No he is a socialist, a commie, etc, just dumb etc). We had Jonah Goldberg pointing the way with his new book "Liberal Fascism" which EVERYONE should read.
So what do we do?Get into an off shore bank and invest in stable commodities outside the USA, and get your money into a currency like the Canadian dollar.Get professional advice on the timing. This is legal to do, but may be not much longer if Obama impliments currency controls on money exiting the US system.
Ping To G20 Results, Obama-China
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