New Move to Make Yuan a Global Currency.

New Move to Make Yuan a Global Currency.

online.wsj.com

China has launched trading in its currency in the U.S. for the first time, an explicit endorsement by Beijing of the fast-growing market in the yuan and a significant step in the country's plan to foster global trading in its currency.

The state-controlled Bank of China Ltd. is allowing customers to trade the yuan, also known as the renminbi, in the U.S., expanding the nascent offshore market for the currency which began last year in Hong Kong.

(visit the link for the full news article)

The US treasury Secretary Tim Geithner wrote a letter on January 6, 2011 to senate majority leader Harry Reid and asked him that the congress must raise the "US Debt Limit" by March 2011 or US will default on its "Debt Obligations". He pointed out on his letter that US government will need of $1 Trillion USD by end of March 2011 or will face another economic crisis, so...

Better we stay in silence because, if you dont, will definitely see you get killed like Lincoln and Kennedy.


online.wsj.com
(visit the link for the full news article)

reply to post by RUSSO


And more...

US state considers alternative to dollar:

The Commonwealth of Virginia is planning to file a bill under which it would begin minting its own gold and silver coins as an alternative currency to the US dollar.

Virginia's Republican Delegate Bob Marshall, from Prince William County, was to ask the General Assembly to consider the idea on Wednesday when it convenes for its annual legislative session, The Washington Post reported...

Full article here

The Commonwealth of Virginia is planning to file a bill under which it would begin minting its own gold and silver coins as an alternative currency to the US dollar.

Virginia's Republican Delegate Bob Marshall, from Prince William County, was to ask the General Assembly to consider the idea on Wednesday when it convenes for its annual legislative session, The Washington Post reported...

Full article here

Isnt doing this unconstitutional?

reply to post by asperetty


Yep. The states have no right to mint coinage.

Only the US Congress can mint coins.

Even if the Federal Reserve collapsed, the US Mint would still mint coins. US coins are not issued by the Federal Reserve. It would be no big deal for them to issue silver coins and gold coins to replace anything between $5 and $100 bills.

reply to post by RUSSO


Well this will unfortunately not the dollar off its perch. It could be the beginning of the end for the US primacy. This could be very bad news indeed. I do not trust the Chinese Government at all.

reply to post by tiger5


Yeh, especially because they are living a communist dystopia.

Originally posted by RUSSO

He pointed out on his letter that US government will need of $1 Trillion USD by end of March 2011 or will face another economic crisis, so...

One Trillion dollars...why does that ring a bell?
Something about the pentagon, 911, and some dude saying a week or so before they lost a Trillion dollars $$$.

I don’t know I read so much on ATS I get muddled

reply to post by Whateva69


US should save more money. Stop just print money because the bubble will eventually explode.

reply to post by RUSSO


I’m not really sure about money and banks and the likes, I’m normally in different forums, but your thread just caught my attention, and the things you said bumped some old information I read on ATS ages ago, that all, my mind is like a filing cabinet with no secretary, the information is there, I just have to dig through all the parking fines to find it.

Wasn’t it the US that was all for a new world currency? To go along with their new world order?

It just seems to ironic, but then again I see a conspiracy in most things.

Originally posted by Whateva69
reply to post by RUSSO

 

Wasn’t it the US that was all for a new world currency? To go along with their new world order?

It just seems to ironic, but then again I see a conspiracy in most things.

First off, who ever said this idea was just from the USA?
Secondly, show me where just the leaders from the USA state they wanted a NWO?

That entire scheme is global.
Spewing from the mouths of corrupt leaders around the world.
Not necessarily from just the USA.

Either way, if China wants to make their currency global, so be it.
No one in the world will stop them anyways.
Geitner is just rolling with the punches, trying to raise our 'debt ceiling'.
It's inevitable that they want to crash the US dollar.

Maybe it will take place in March.

Because it would be a deathblow to the economy if they allow more credit to a country in debt past it's eyeballs.
It's like a citizen asking for a increase in their credit limit before they even started paying back their $1 billion debt.

It's all a giant scam.
We just have the covers over our eyes.

reply to post by asperetty


Yeah.. but isn't our money being valueless pieces of paper not backed by anything unconstitutional too?
Also they are a commonwealth so maybe it is possible for them?

Originally posted by RUSSO
reply to post by RUSSO

 

And more...

US state considers alternative to dollar:

The Commonwealth of Virginia is planning to file a bill under which it would begin minting its own gold and silver coins as an alternative currency to the US dollar.

Virginia's Republican Delegate Bob Marshall, from Prince William County, was to ask the General Assembly to consider the idea on Wednesday when it convenes for its annual legislative session, The Washington Post reported...

Full article here

This is right wing posturing. Nothing to see here. When states start doing this forrealz then it will be the end of the union.

reply to post by havok


Oh I know it’s global, but I feel the US is the main one the NWO use to push their agenda. Look at Copenhagen for instance.

reply to post by Whateva69


Yeh, COP 15 was a crucial step to push this. The sad part is of so much insist in that they will achieve sooner or later.

reply to post by MikeboydUS

Yep. The states have no right to mint coinage.

Only the US Congress can mint coins.

WRONG!

U.S. Constitution
Art. I Sec. 8 Cl. 5
Congress shall have Power ... To coin Money, regulate the Value thereof, and of foreign Coin, ...;

Art. I Sec. 10 Cl. 1
No State shall ... make any thing but gold and silver Coin a Tender in Payment of Debts; ...

If the states have the gold and silver they have the Constitutional RIGHT to strike coinage. CONGRESS has the RIGHT to "regulate the VALUE thereof"


Actually the STATES have the RIGHT to BAN the Federal Reserve Note since it is not gold and silver Coin and it is NOT an issue of the US Treasury! All the Federal Government has is the right to "regulate the VALUE thereof"

On a side note:

CAMPAIGNING FOR STATE-OWNED BANKS[/v]

Ellen Brown, February 17, 2010
www.webofdebt.com... state-owned_ banks.php
While bank bailouts fatten Wall Street, states continue to battle the credit crisis. In the search for innovative solutions, some political candidates are proposing that states generate their own credit by setting up their own banks....

Amanda Paulson, writing in The Christian Science Monitor, quotes Arturo Pérez, fiscal analyst with the National Conference of State Legislatures, which released its survey of state budget situations in December:

“Unless you’re North Dakota, you’re probably a state that has had some degree of difficulty or crisis involving finances. It’s the worst situation states have faced in decades, perhaps going as far back as the Great Depression in some states.”

“Unless you’re North Dakota” – a state with a sizeable budget surplus, and the only state that is adding jobs when other states are losing them...

Candidates Across the Political Spectrum Pick Up on the Public Bank Model

In the quest to find ways to divorce the well-being of their states from the financial sector, a growing number of candidates are picking up on the public bank alternative. Florida, Illinois, Oregon, Massachusetts, Idaho and California all have candidates whose platforms contain this proposed solution to the credit crisis.

A publicly-owned bank has also been proposed on the federal level. Nationalizing the Federal Reserve (which is not actually federal but is owned by a consortium of private banks) was advocated by 2008 Presidential candidates Dennis Kucinich, a Democrat, and Cynthia McKinney, the Green Party candidate. In 2009, Nobel laureate Joseph Stiglitz said the government would have been better off funding a federally-owned bank than doling out trillions of dollars to private investment banks and CEOs who speculated their way into bankruptcy. Speaking at the New York Society for Ethical Culture on March 6, 2009, he said:

“If we had used the $700 billion to create a new financial institution, allowed it to lever 10 to 1, which is very modest compared to the 30 to 1 that we were doing, 10 to 1 would have generated $7 trillion of new lending capacity, far in excess of what our country needs. So the issue here is not about lending. It’s really about saving the bankers. And what we confused was saving the banks versus saving the bankers and their shareholders.”

But nationalizing the Federal Reserve faces powerful opponents in Congress. Meanwhile, on the state level the public bank concept is gaining ground, attracting proponents across the political spectrum, including Democrats, Republicans and Greens. The issue transcends party lines. In North Dakota, a Republican state, the state-owned bank was inaugurated by a political party appropriately called the “Non-Partisan League.” .....

Ellen Brown J.D. is an attorney practicing civil litigation in Los Angeles. J. D. means Juris Doctor, "Doctor of Law" or "Doctor of Jurisprudence"

reply to post by Whateva69

Oh I know it’s global, but I feel the US is the main one the NWO use to push their agenda. Look at Copenhagen for instance.

The USA is the Cannon Fodder of the Global Elite. Supposedly we were the origin of the Bretton Woods agreement that founded the World Bank and IMF.

Actually it was a Soviet spy that was behind the idea and FDR who ratified it was under the control of the global bankers

Harry Dexter White (1892 – 1948) was an American economist and senior U.S. Treasury department official. He was a primary mover behind the Bretton Woods Conference, the formations of the World Bank and the IMF (International Monetary Fund).

On July 31, 1948 Elizabeth Bentley - a former Soviet Union Spy herself who defected Soviet Intelligence in 1945 - told the House Committee on Un-American Activities (HUAC) that Harry Dexter White had been involved in espionage activities on behalf of Soviet Union during World War II, and had passed sensitive Treasury documents to Soviet agents....
hubpages.com...

If you follow the money trail further back you find:

In the Soviet Union, as in every Communist country (or as they call themselves -- the Socialist countries), the power has not come to the Communists' hands because the downtrodden masses willed it so. The power has come from the top down in every instance. Let us briefly reconstruct the sequences of the Communist takeover....

But where were Lenin and Trotsky when all this was taking place? Lenin was in Switzerland and had been in Western Europe since 1905 when he was exiled for trying to topple the Czar in the abortive Communist revolution of that year. Trotsky also was in exile, a reporter for a Communist newspaper on the lower east side of New York City. The Bolsheviks were not a visible political force at the time the Czar abdicated. And they came to power not because the downtrodden masses of Russia called them back, but because very powerful men in Europe and the United States sent them in.

Lenin was sent across Europe-at-war on the famous "sealed train." With him, Lenin took some $5 to $6 million in gold. The whole thing was arranged by the German high command and Max Warburg, through another very wealthy and lifelong socialist by the name of Alexander Helphand alias "Parvus."

When Trotsky left New York aboard the S.S. Christiania, on March 27, 1917, with his entourage of 275 revolutionaries, the first port of call was Halifax, Nova Scotia. There the Canadians grabbed Trotsky and his money and impounded them both. This was a very logical thing for the Canadian government to do for Trotsky had said many times that if he were successful in coming to power in Russia he would immediately stop what he called the "imperialist war" and sue for a separate peace with Germany. This would free millions of German troops for transfer from the Eastern front to the Western front where they could kill Canadians. So Trotsky cooled his heels in a Canadian prison-for five days.

Then all of a sudden the British (through future Kuhn, Loeb partner Sir William Wiseman) and the United States (through none other than the ubiquitous "Colonel" House) pressured the Canadian government. And, despite the fact we were now in the war, said, in so many words, "Let Trotsky go." Thus, with an American passport, Trotsky went back to meet Lenin. They joined up, and, by November, through bribery, cunning, brutality and deception, they were able (not to bring the masses rallying to their cause but) to hire enough thugs and make enough deals to impose out of the gun barrel what Lenin called "all power to the Soviets."

The Germans, on the face of it, had a plausible excuse for financing Lenin and Trotsky. The two Germans most responsible for the financing of Lenin were Max Warburg and a displaced Russian named Alexander Helphand...

The picture takes on another dimension when you consider that the brother of Max Warburg was Paul Warburg, prime mover in establishing the Federal Reserve System and who from his position on the Federal Reserve Board of Directors, played a key role in financing the American war effort. (When news leaked out in American papers about brother Max running the German finances, Paul resigned from his Federal Reserve post without a whimper.) From here on the plot sickens.

For the father-in-law of Max Warburg's brother, Felix, was Jacob Schiff, senior partner in Kuhn, Loeb & Co. (Paul and Felix Warburg, you will recall, were also partners in Kuhn, Loeb & Co. while Max ran the Rothschild-allied family bank of Frankfurt.) Jacob Schiff also helped finance Leon Trotsky. According to the New York Journal-American of February 3, 1949:

...One of the best sources of information on the financing of the Bolshevik Revolution is "Czarism and the Revolution" by an important White Russian General named Arsene de Goulevitch who was founder in France of the Union of Oppressed Peoples. In this volume, written in French and subsequently translated into English, de Goulevitch notes:

"The main purveyors of funds for the revolution, however, were neither the crackpot Russian millionaires nor the armed bandits of Lenin. The 'real' money primarily came from certain British and American circles which for a long time past had lent their support to the Russian revolutionary cause...

De Goulevitch continues:

"The important part played by the wealthy American banker, Jacob Schiff, in the events in Russia, though as yet only partially revealed, is no longer a secret."

General Alexander Nechvolodov is quoted by de Goulevitch as stating in his book on the Bolshevik Revolution:

"In April 1917, Jacob Schiff publicly declared that it was thanks to his financial support that the revolution in Russia had succeeded.

In the Spring of the same year, Schiff commenced to subsidize Trotsky ...

Simultaneously Trotsky and Co. were also being subsidized by Max Warburg and Olaf Aschberg of the Nye Banken of Stockholm ... The Rhine Westphalian Syndicate and Jivotovsky, whose daughter later married Trotsky."

www.modernhistoryproject.org...

As I said Americans are Cannon fodder.

War makes lots of money for the bankers who are loaning money to both sides but it does nothing else unless the country pursuing the war can gain territory and resources to make the money and effort spent worth it. REAL Simple once you think about it.

Look at Vietnam, Nixon went off the gold standard because the USA could not pay her debts.

reply to post by crimvelvet


You should read the rest of the section:

Section. 10. No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.

No State shall coin money or emit bills of credit.

Please read it in context. States can't make a new tender for payment of debts, but the federal government can.