China's Official Press Agency Calls For New Reserve
Currency, And New World Order By Tyler Durden
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China's Official Press Agency Calls For New
Reserve Currency, And New World Order By Tyler Durden 10/13/2013 http://www.zerohedge.com/news/2013-10-13/chinas-official-press-agency-calls-new-reserve-currency We assume it is a coincidence that on the day in which we demonstrate China's relentless appetite for gold, driven by what we and many others believe is the country's desire to have a call option on a gold-backed reserve currency when the time comes, just posted in China's official press agency, Xinhua, is an op-ed by writer Liu Chang in which he decries the "US fiscal failure which warrants a de-Americanized world" and flatly states that the world should consider a new reserve currency "that is to be created to replace the dominant U.S. dollar, so that the international community could permanently stay away from the spillover of the intensifying domestic political turmoil in the United States." Of course, if China were serious, and if the world were to voluntarily engage in such a (r)evolutionary reserve currency transition, then all Magic Money Tree theories that the only thing better than near infinite debt is beyond infinite debt, would promptly be relegated to the historic dust heap of idiotic theories where they belong. Some of China's (which as a reminder is the single largest offshore holder of US Treasury paper, and the second largest of all only second naturally to the Federal Reserve whose $85 billion in monthly monetizing "flow" is what is keeping rates from exploding higher) thoughts as captured in the Xinhua Op-ed: Reform of the world’s financial system should include the introduction of a new internatonal reserve currency to replace the U.S. dollar The international community could thus permanently stay away from the spillover of intensifying domestic political turmoil in the U.S. Fiscal impasse in the U.S. is a good time for “befuddled world” to start considering building a “de-Americanized world” Impasse has left many nations’ dollar assets in jeopardy and the international community agonized Other cornerstones should be laid to underpin a de-Americanized world, including respect for sovereignty, recognizing authority of UN in handling global hotspot issues and giving developing and emerging market economies more say in major international financial institutions Purpose of such changes is not to “completely toss the United States aside,” rather to encourage Washington to play a much more constructive role in addressing global affairs Of course, if and when the day comes that the USD is no longer the reserve currency, kiss America's superpower, or any power, status, which is now based purely on the USD's reserve currency status, and the ability to fund half the US budget deficit with debt promptly monetized by the Fed, goodbye. http://www.rumormillnews.com/cgi-bin/forum.cgi?read=289514 |
1 comment:
America can build itself back up. Americans always took pride in building and making quality, well made products, and what we need to do is STOP sending lumber, steel, scrap metal etc. to China and keep it right here and use it ourselves! F*@# the U.N. and keep your a$$ out of America. We've got enough extremely intelligent people here in America to build back our economy and grow our own food. The satanists in Washington need to be sent to hell where they belong. All satanists do is lie, steal, kill, and destroy things and people. They all need to be tracked down. We already have someone who can make sure the economy is run right and the people will be able to live their lives well. This person needs to be supported in their goals to help Americans, and Americans can turn the tables on the devil and his minions.
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