Most people should click the image and wake up . . .
Posted on 03/23/2009 4:17:35 PM PDT by datura
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”.
(Excerpt) Read more at ft.com ...
http://www.freerepublic.com/focus/news/2212937/posts?page=11#11
You all have fun now . . . !
Figured you’d be aware
Of course, the UN would have to hold on to the gold that backs the currency. You serfs would not be allowed to own any.
A fiat currency controlled by the IMF.....versus a fiat currency controlled by the Fed.
Whatever happened to de-linking the yuan from the dollar to start with, to level the economic playing field a little bit between us and China?
Did that become political suicide?
Is this why China has shouldered up with Mugabe in Zimbawe?
Zimbawe has a lot of precious metals and diamonds. And a currency that is totally worthless.
Does China want to provide the asset based world currency?
Think about this.
To every obama “sticker on their car supporter” I would ask (axe)...
“Is this what you voted for?”
Their look and answer would be, “??? huh??? I don’t understand...”
To which my reply would be...
“Exactly, that’s what I thought.”
But China itself is nearly depleted of many resources. That’s why they have to travel so far to find raw materials, and places like Zimbabwe are eager to accept their “help”.
All I know is that there is absolutely NOTHING that China does that is in America’s best interests, even though it is our consumption of their crap that keeps them alive.
China has also won multiple multi-billion $ contracts to extract minerals from Afghanistan.
Yep ... and me thinks that HRC failed in her first major test as Sec. of State. Remeber her mission to China? Notice how we haven't heard from her in a while?
Afghanistan is extremely rich with minerals. Another reason that Zero wants out of there?
I KNEW this was commin. Read this: http://canadafreepress.com/index.php/article/9454 We should be VERY concerned about this story out of China, I did not expect it from this direction, but in hindsight, I should have, given how much of us they now own!
Damn it.
It’s only logical that a nation would want a reserve currency backed by gold or some other tangible asset.
Meanwhile, our inflated currency will be backed by ‘hope and change.’
Keynesian Economic policy has FAILED every time its been tried? What sane person would think it had a PRAYER of working THIS time? It won’t!
Yeah, right. Just use more tax payer money to buy toxic assets nobody in the entire world wants. Toxic Asset Suckers are born every minute . . . LMAO . . . LOL, LOL !
Paper money is worth the paper it is printed on.
Most people should click the image and wake up . . .
It’s still good TP, if a bit ruff!
;)
And China does not care about “collateral damage” to enforce their rules.
Russia and the CIS called for this last week, now the Chinese are calling for it. BTW, Cuba, Venezuela and Iran have also called for a supercurrency.
schu
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