The Warning Signs of US Dollar Collapse Are All In Front of Us, We’ll Soon See More Financial Products– Oil, Gold, Fortune 500 Corporate Bonds, Etc. Denominated In Renminbi & Traded In Asia
InvestmentWatch |
Yet another massive nail in the dollar’s coffin
On the other side of the world today, a couple of gentlemen that few people have ever heard of signed an agreement that has massive consequences for the global financial system.
It was a Memorandum of Understanding signed by representatives of the Singapore Exchange and Hong Kong Exchange. Their aim– to combine their forces in rolling out more financial products denominated in Chinese renminbi.
This is huge.
Hong Kong and Singapore are THE two dominant financial centers in Asia. For years they’ve been locked in competition with one another, much like New York and London. So their public partnership is a very big deal… indicative of the clear objective they have in front of them.
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Bottom line– finance executives in Asia see the writing on the wall. They can see that the dollar is in a period of terminal decline, and it’s clear that the Chinese renminbi is going to take tremendous market share away from the dollar. They want a big piece of the action.
http://www.sovereignman.com/finance/yet-another-massive-nail-in-the-dollars-coffin-13241/
Published on Dec 4, 2013
The Chinese yuan has overtaken the euro to become the second most used currency in the global market place. Last year its share of world trade was just over 1 percent compared to the euro’s almost 8 percent. The yuan has now reached almost 9, leaving the euro way behind. Keith Boyfield from the Centre for Policy Studies joins RT to discuss this issue.
Chinese Yuan Passes Euro as #2 Currency for Trade
The Chinese yuan data is now in and the October numbers from the Swift system show that the yuan, which in January 2012 held only 1.89% of trade transactions, jumped to 8.66% surpassing the Euro, which has fallen to just 6.64% of Swift transactions. In January 2012, the Euro held 7.87% of Swift transactions. These numbers show that the Euro is on its way to a third world country status.
European EU elections are next May. Already there are mass rallies in Italy calling for the breakup of the Eurozone. We should expect serious political turmoil next year in 2014. This is part of the Cycles of War turning next year.
http://armstrongeconomics.com/2013/12/04/chinese-yuan-passes-euro-as-2-currency-for-trade/
Professor Laurence Kotlikoff- Fed Printing 29 Cents Of Every Dollar Uncle Sam Spends
Published on Dec 3, 2013
http://usawatchdog.com/america-in-wor… Dr. Laurence Kotlikoff says, “The government is printing mountains of money to pay its bills. The Fed is printing 29 cents of every dollar that Uncle Sam is spending.” What happens if this continues? Dr. Kotlikoff, a Professor of Economics at Boston University, says, “Eventually somebody recognizes this and starts dumping the bonds, and interest rates go up, and inflation takes off, and were off to the races.” In closing, Dr. Kotlikoff warns, “This is going to crash, but there are different ways for cancer to kill you. It can be very gradual . . . or it can attack some organ and you can die overnight. Either of those outcomes can happen.” Join Greg Hunter of USAWatchdog.com as he goes One-on-One with Professor Laurence Kotlikoff.
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