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Posts Tagged ‘Dollar’

China limits world’s highest foreign currency reserves

November 21, 2013 Comments off

rt.com

Reuters / Kacper Pempel China’s central bank has said it no longer sees any benefit in increasing its $3.66 trillion foreign currency reserves – already the world’s largest. China will cap its purchases of US dollars in an effort to limit the depreciation of the yuan.

“It’s no longer in China’s favor to accumulate foreign-exchange reserves,” Bloomberg quoted Yi Gang, a deputy governor at the central bank as saying Tuesday.

Decreasing the influence of the dollar and other currencies is a step closer to reaching China’s 2015 goal to “float” its currency and according to the People’s Bank of China will help the everyday Chinese citizen.

Between July and September 2013 China’s increased its foreign – currency holdings by $166 billion, boosting it to the world’s highest of $3.66 trillion. This is also more that the Read more…

Why Are Russia And China Hoarding So Much Gold?

February 13, 2013 Comments off

etfdailynews.com

india-gold-etfWill oil soon be traded in a currency that is thousands of years old?  What would a “gold for oil” system mean for the petrodollar and the U.S. economy?  Are Russia and China hoarding massive amounts of gold because they plan to kill the petrodollar?  Since the 1970s, the U.S. dollar has been the currency that the international community has used to trade oil around the globe.  This has created an overwhelming demand for U.S. dollars and U.S. debt.  But what happens when the rest of the globe starts rejecting the increasingly unstable U.S. dollar and figures out that gold can be used as a currency in international trade?  The truth is that it doesn’t take a lot of imagination to figure that out.  Demand for the U.S. dollar and U.S. debt would fall off the map and there would be a rush into gold unlike anything we have ever seen before.  So are Russia and China accumulating unprecedented amounts of gold right now because they eventually plan to cut the legs out from under the petrodollar and they want to gobble up huge stockpiles of gold before the cat is out of the bag?  Of course they will never admit this publicly, but there are Read more…

The “cashless society” and Total Monetary Surveillance

April 4, 2012 1 comment

marketoracle

Photo Credit Infowars

Economic Collapse writes: Most people think of a cashless society as something that is way off in the distant future. Unfortunately, that is simply not the case. The truth is that a cashless society is much closer than most people would ever dare to imagine. To a large degree, the transition to a cashless society is being done voluntarily. Today, only 7 percent of all transactions in the United States are done with cash, and most of those transactions involve very small amounts of money. Just think about it for a moment. Where do you still use cash these days? If you buy a burger or if you purchase something at a flea market you will still use cash, but for any mid-size or large transaction the vast majority of people out there will use another form of payment. Our financial system is dramatically changing, and cash is rapidly becoming a thing of the past. We live in a digital world, and national governments and big banks are both encouraging the move away from paper currency and coins. But what would a cashless society mean for our future? Are there any dangers to such a system?

Those are very important questions, but most of the time both sides of the issue are not presented in a balanced way in the mainstream media. Instead, most mainstream news articles tend to trash cash and talk about how wonderful digital currency is.

For example, a recent CBS News article declared that soon we may not need “that raggedy dollar bill” any longer and that the “greenback may soon be a goner”…. Read more…

BRICS Move To Replace Dollar With “Super-Sovereign” Global Currency

March 27, 2012 Comments off

blog.alexanderhiggins.com

Brazil, Russia, India, China and South Africa Move To Replace Dollar With Chinese Denominated Single Super-Sovereign Global CurrencyBrazil, Russia, India, China and South Africa launch attack to to replace the dollar with an single Chinese denominated “super-Sovereign” global currency.

As China is expected to rise to the status of a financial super power within the next 8 years and eclipse the US economy by 2020 Africa becomes center stage in the greatest currency war the world has seen since the 1930s which is now shifting into overdrive.

Brazil, Russia, India, China and South Africa, collectively known as the BRICS nations, are moving forward with their plan to unseat the US dollar from its throne as the global trade currency and to replace it with a Chinese denominated “super-sovereign” international currency.

This Geo-political game to establish global monetary dominance is by no means limited to the attack on the US dollar.

Instead this is merely the first strike of a concerted campaign of worldwide economic Read more…

Pastor Lindsey Williams- The Us dollar is dead by the end of 2012

March 27, 2012 Comments off

Saudi Arabia And China Team Up To Build A Gigantic New Oil Refinery – Is This The Beginning Of The End For The Petrodollar?

March 23, 2012 3 comments

theeconomiccollapseblog.com

 The largest oil exporter in the Middle East has teamed up with the second largest consumer of oil in the world (China) to build a gigantic new oil refinery and the mainstream media in the United States has barely even noticed it.  This mammoth new refinery is scheduled to be fully operational in the Red Sea port city of Yanbu by 2014.  Over the past several years, China has sought to aggressively expand trade with Saudi Arabia, and China now actually imports more oil from Saudi Arabia than the United States does.  In February, China imported 1.39 million barrels of oil per day from Saudi Arabia.  That was 39 percent higher than last February.  So why is this important?  Well, back in 1973 the United States and Saudi Arabia agreed that all oil sold by Saudi Arabia would be denominated in U.S. dollars.  This petrodollar system was adopted by almost the entire world and it has Read more…

U.S. National Debt Is 5000 Times Larger Than When The Federal Reserve Was Created

February 24, 2012 1 comment

endoftheamericandream.com

Have you noticed that very few people in the mainstream media ever directly criticize the Federal Reserve?  But why should that be the case?  Criticizing top politicians from both major political parties has become a national pastime.  Most Americans love to throw mud at either the Republicans or the Democrats.  But we are told that the Federal Reserve is “above politics” and that it is absolutely vital that the Fed remain “independent”.  The reality is that the Federal Reserve has more control over the performance of the U.S. economy than the president even does, and yet most Americans never spend much time thinking about the Fed at all.  It is almost as if Read more…

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