China Calls For One World Global Currency

China is calling for a global currency to replace the dominant dollar, showing a growing assertiveness on revamping the world economy ahead of next week's London summit on the financial crisis.

The surprise proposal by Beijing's central bank governor reflects unease about its vast holdings of U.S. government bonds and adds to Chinese pressure to overhaul a global financial system dominated by the dollar and Western governments. Both the United States and the European Union brushed off the idea.

China Calls For One World Global Currency

Didn't last long for China with this move. Since Russia went public with the idea of replacing dollar as a currency I was waiting for China to make the same move. Only this time they're even bolder by asking a global replacement of dollar.

I can imagine how fiercely Europe and USA are going to oppose this idea. I'm just curious to see in what levels.

More links

yournewswire.com...

a reply to: Telos

Here comes the New World Order... and it's Chinese! HOORAY!!!

a reply to: Telos

I agree, Krugerrands it is.

China made an attempt even in 2012 when it decided to issue a gold backed currency. I think the last move was long coming and shouldn't be a surprise to financial world.

There can be no doubt that the US dollar will soon be history. China is recasting all of their gold reserves into small one kilo bars in order to issue a new ‘gold backed’ global currency. This is surely a strategic part of their recent push to sign new trade agreements with Russia, Japan, Chile, Brazil, India, and Iran. The cat is now out of the bag, the US will be given the ‘bums rush’ by the largest trading nations in the world and the dollar will go down in flames. GATA now estimates that 80% of the gold that investors believe they have in allocated accounts is long gone, the majority of it probably wound up in China.

worldtruth.tv...

a reply to: Telos

Why am I not surprised...

The SCO:



S&F for the info

originally posted by: Telos
China made an attempt even in 2012 when it decided to issue a gold backed currency. I think the last move was long coming and shouldn't be a surprise to financial world.

There can be no doubt that the US dollar will soon be history. China is recasting all of their gold reserves into small one kilo bars in order to issue a new ‘gold backed’ global currency. This is surely a strategic part of their recent push to sign new trade agreements with Russia, Japan, Chile, Brazil, India, and Iran. The cat is now out of the bag, the US will be given the ‘bums rush’ by the largest trading nations in the world and the dollar will go down in flames. GATA now estimates that 80% of the gold that investors believe they have in allocated accounts is long gone, the majority of it probably wound up in China.

worldtruth.tv...

You realize they never did back the RMB with gold, right? That was just a rumor because they had increased their gold reserves.

Edit To Add: They have been issuing gold coins, "Pandas," for a while now, but those are aimed at the collectibles market, not global trade.

They want "one God" now do they. A system of fakery.

I call an end to money and a wonderful system of Equality and Freedom with land and resources for all, no slavery, and empowerment from the bottom up of all people, with a removal of allegiance to the petty ideas of the fake royalty here and vatican and elite and their concepts of pseudo laws, and have people trained to problem solve in win/win ways themselves.

I denounce and renounce all currency and any use of the evil props of this world is because living in a tent in the wilderness is not healthy for families, and so its being a forced or hostile witness, wherein the inability to choose and have available decent alternative systems is the same thing as being granted the actions of living them, if you have no choice then your intention is your choice.

Yah, who wants a reserve currency buried in trillions of debt anyway?

originally posted by: intrptr
Yah, who wants a reserve currency buried in trillions of debt anyway?

Like China's?

originally posted by: DJW001

originally posted by: Telos
China made an attempt even in 2012 when it decided to issue a gold backed currency. I think the last move was long coming and shouldn't be a surprise to financial world.

There can be no doubt that the US dollar will soon be history. China is recasting all of their gold reserves into small one kilo bars in order to issue a new ‘gold backed’ global currency. This is surely a strategic part of their recent push to sign new trade agreements with Russia, Japan, Chile, Brazil, India, and Iran. The cat is now out of the bag, the US will be given the ‘bums rush’ by the largest trading nations in the world and the dollar will go down in flames. GATA now estimates that 80% of the gold that investors believe they have in allocated accounts is long gone, the majority of it probably wound up in China.

worldtruth.tv...

You realize they never did back the RMB with gold, right? That was just a rumor because they had increased their gold reserves.

Edit To Add: They have been issuing gold coins, "Pandas," for a while now, but those are aimed at the collectibles market, not global trade.

I think I said it clearly, China made an ATTEMPT. You do realize that attempt is not exceeding, right?

originally posted by: Telos

originally posted by: DJW001

originally posted by: Telos
China made an attempt even in 2012 when it decided to issue a gold backed currency. I think the last move was long coming and shouldn't be a surprise to financial world.

There can be no doubt that the US dollar will soon be history. China is recasting all of their gold reserves into small one kilo bars in order to issue a new ‘gold backed’ global currency. This is surely a strategic part of their recent push to sign new trade agreements with Russia, Japan, Chile, Brazil, India, and Iran. The cat is now out of the bag, the US will be given the ‘bums rush’ by the largest trading nations in the world and the dollar will go down in flames. GATA now estimates that 80% of the gold that investors believe they have in allocated accounts is long gone, the majority of it probably wound up in China.

worldtruth.tv...

You realize they never did back the RMB with gold, right? That was just a rumor because they had increased their gold reserves.

Edit To Add: They have been issuing gold coins, "Pandas," for a while now, but those are aimed at the collectibles market, not global trade.

I think I said it clearly, China made an ATTEMPT. You do realize that attempt is not exceeding, right?

The blogger says that China made an attempt to create a global currency when it considered going on the gold standard three years ago! Why are you posting a three year old rumor as though it were something current?

originally posted by: DJW001

The blogger says that China made an attempt to create a global currency when it considered going on the gold standard three years ago! Why are you posting a three year old rumor as though it were something current?

Can you stop hijacking the thread ? Using reference from past actions are tools that help a current argument and the level of understanding it. How hard is to get that?

originally posted by: Telos

originally posted by: DJW001

The blogger says that China made an attempt to create a global currency when it considered going on the gold standard three years ago! Why are you posting a three year old rumor as though it were something current?

Can you stop hijacking the thread ? Using reference from past actions are tools that help a current argument and the level of understanding it. How hard is to get that?

Excuse me, what is the point of this thread? China has been talking about creating an alternative to the US dollar as an international reserve currency for years. It seems no closer today than it was three years ago. Do you want to discuss whether it is serious about this or not? It seems that it is just a bluff to assert its economic superiority over Europe and Russia.

originally posted by: DJW001

originally posted by: intrptr
Yah, who wants a reserve currency buried in trillions of debt anyway?

Like China's?

Thats why they want to change to a different currency. But you compare apples and oranges,

Besides their growth rate (enviable by any standard), they actually produce goods and aren't saddled with the cost of endless war.

originally posted by: DJW001

originally posted by: Telos

originally posted by: DJW001

The blogger says that China made an attempt to create a global currency when it considered going on the gold standard three years ago! Why are you posting a three year old rumor as though it were something current?

Can you stop hijacking the thread ? Using reference from past actions are tools that help a current argument and the level of understanding it. How hard is to get that?

Excuse me, what is the point of this thread? China has been talking about creating an alternative to the US dollar as an international reserve currency for years. It seems no closer today than it was three years ago. Do you want to discuss whether it is serious about this or not? It seems that it is just a bluff to assert its economic superiority over Europe and Russia.

The point of this thread is not for you to decide. If you've got nothing to say than just stay away from it. I appreciate your opinion and inputs but whether the thread is worth or not, that's something mods decide. You either put up or shut up.

originally posted by: Telos

originally posted by: DJW001

originally posted by: Telos

originally posted by: DJW001

The blogger says that China made an attempt to create a global currency when it considered going on the gold standard three years ago! Why are you posting a three year old rumor as though it were something current?

Can you stop hijacking the thread ? Using reference from past actions are tools that help a current argument and the level of understanding it. How hard is to get that?

Excuse me, what is the point of this thread? China has been talking about creating an alternative to the US dollar as an international reserve currency for years. It seems no closer today than it was three years ago. Do you want to discuss whether it is serious about this or not? It seems that it is just a bluff to assert its economic superiority over Europe and Russia.

The point of this thread is not for you to decide. If you've got nothing to say than just stay away from it. I appreciate your opinion and inputs but whether the thread is worth or not, that's something mods decide. You either put up or shut up.

I'm not the one deciding what this thread is about, you are. That's why I'm asking you what the point of it is! China has been flexing its economic muscles for years now, but its leaders are painfully aware that its economy is inextricably linked to the United States'. They are not yet in a position to overturn the global economic system, but by mooting the possibility of, say, making the RMB exchangeable for gold, they can tweak the EU and RF, who are in no position to do so.

As for the acquisition of large amounts of gold by the notoriously non-transparent Chinese government, it is worth remembering that gold remains a popular possession in Asia. People will give gold jewelry and gold coins as New Year's gifts. Some percentage of the gold the government has been acquiring is being used to mint gold coins that are given as gifts in China and collected by nervous American investors.

So they are uneasy about us debt and think tanking the dollar will do what besides flush all the money spent on the bonds down the toilet?

If they offload the debt they hold I'll be worried... But that time isn't now.

a reply to: Telos

Well, I have been calling for a ban on for profit banking, a ban on upper class persons becoming politicians, and a legal framework being established to force companies to pay a living wage, and prevent those same companies from taking their business elsewhere, by convincing their owners that the risk to their health should they do so, would be far worse than the risk posed to their bottom line by staying.

I am about as likely to get what I have been calling for, as the Chinese are at this point!

originally posted by: DJW001


I'm not the one deciding what this thread is about, you are. That's why I'm asking you what the point of it is!

The point is to inform ATS members of a news and discuss about it. The same way a news is being reported and discussed on the daily basis in this board. The source is reliable and serious. Which makes it even more worth bringing it here.

*** ATTENTION ***

Everyone, please stay on topic and discuss the story posted in the OP and not each other. Thank you. Carry on.




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