Posted on 03/23/2009 5:34:06 PM PDT by Random-American
China’s central bank on Monday proposed replacing the US dollar as the international reserve currency with a new global system controlled by the International Monetary Fund.
In an essay posted on the People’s Bank of China’s website, Zhou Xiaochuan, the central bank’s governor, said the goal would be to create a reserve currency “that is disconnected from individual nations and is able to remain stable in the long run, thus removing the inherent deficiencies caused by using credit-based national currencies”.
Analysts said the proposal was an indication of Beijing’s fears that actions being taken to save the domestic US economy would have a negative impact on China.
(Excerpt) Read more at ft.com ...
Yup. Hussein is printing money out the YIN-YANG (no pun intended, Chinese friends)...and so he is devaluing the dollar in a big way.
Hussein is destroying wealth. Big Time.
Do ya think we’ll see another 500 points tomorrow?
Perhaps, with bread costing $9 in the near future, it is possible we will see 14,000 on the dow sooner rather than later.
One step closer to the New World Government.
Already posted, here: http://www.freerepublic.com/focus/f-news/2213010/posts
certainly no one can argue that we americans acted responsibly.
YOU GOT TO WATCH THIS...
Any global reserve currency is bull-shit talk if it doesn’t belong to the dominant consumer country of the world. Period.
The UN and the IMF are tooth-less whiners at best and countries only give them ear-service when they need the dollars that these countries have. The UN can barely enforce anything (peaceful or not), how the hell are they going to enforce that countries don’t alter their exchange rates favorably when they are selling and when they are buying? This kind of bullshit talk works only for the Russians and the Chinese. A global currency is not global if it is not enforced globally. If a country prefers not to accept it, there is no way that anybody can force it to do so. The only true global reserve “currency” is Gold. There was a reason that the gold standard was dropped. I don’t know what it was, but it probably made sense back then and does now. I can’t comment.
This is just talk. The Chinese are talking both languages where they claim they want to buy more Us paper, and on the other side they want a global reserve. China trying to undermine the US along with Russia.
“when they need the dollars that these countries have”
Correction, countries=entities
A chill ran down my spine when I read this on the Drudge Report. This is really scary stuff.
This is just the beginning...the USA is going to very quickly decline in global influence from this point forward. The USA is not mentioned in the Bible at all in regard to the End Times.
It’s like a picture puzzle and it’s taking shape. If people can’t see that this is God’s end times plan, you would have to be blind. It’s happening people....we need to wake up and see it. 2010 is going to be a defining year. Go ahead now flame away..just remember you heard it here.
HYPERINFLATION
He's "Obama Rich"
Pretty soon we'll all be holding 500 million dollar bills.
Game over.
You are right, this is really scary.
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