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World Reserve part 2

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posted on Sep, 13 2014 @ 05:24 PM
World Reserve part 1


New Jersey Governor Chris Christie, confirmed that this problem is going on all over the country...
He told 60 Minutes..."It's not like you can avoid it forever, 'cause it's here now. And we all know it's here. And the federal government doesn't have the money to paper over it anymore, either, for the states.

The day of reckoning has arrived. That's it. And it's gonna arrive everywhere. Timing will vary a little bit, depending upon which state you're in, but it's comin'. We spent too much on everything. We spent too much. We spent money we didn't have. We borrowed money just crazily. The credit cards maxed out, and it's over. It's over."

That's why Christie and other governors around the country are now introducing bills to slash pension benefits to government employees. And although it's gone almost completely unreported in the mainstream press, six U.S. communities were actually forced to declare bankruptcy in 2010... and there were a slew of new municipal bankruptcies in 2011 as well, including Jefferson County, Alabama, which at the time was the largest municipal bankruptcy in U.S. history. Of course, that was topped in 2012, when three California municipalities declared bankruptcy in a matter of weeks, including the new "largest municipal bankruptcy in U.S. history"... Stockton, a city of 290,000 people east of San Francisco. And keep this in mind: Only about half the states in the country (27 in all) allow municipalities to declare bankruptcy. If it were allowed everywhere, I'm sure we'd see twice as many bankruptcies as we're seeing today.

But for most places where bankruptcy is not allowed... they just keep kicking the can down the road, rather than address the real problems. In Baltimore, for example, the city can't legally declare bankruptcy. But that doesn't mean they aren't essentially bankrupt. An independent audit solicited by the mayor recently shows the city will be $2 billion short of the money they need over the next decade. In other words, as one of local news station reported: the "City of Baltimore is on a path to financial ruin."
And the truly amazing thing is that the U.S. Federal government is in even worse shape than the local governments!The only reason we haven't seen the full brunt of this crisis yet on the federal level is because they've just continued to pile on more and more debt.The states can't print money... but the Federal government can (at least for now). And for the moment, this is all that is preventing a currency collapse of unprecedented proportions. ** And this is the important point to remember: What most people don't realize is that the U.S. government can only continue printing dollars... as long as the U.S. dollar remains the world's reserve currency.

I can't stress this enough: You need to act now in order to protect your family.

Americans Don't Realize What is Already Happening

Like I said, most Americans not only don't believe the U.S. dollar could ever lose its spot as the world's reserve currency, they don't even really understand what that means either. But I am here to tell you... this is the biggest problem the country now faces, and it is clearly underway. With the rising level of U.S. debt, many countries around the world are questioning the position of the U.S. dollar as the reserve currency. They want to diversify out of the U.S. dollar, as quickly as possible.

The latest sign of a move away from the dollar as a reserve currency is that China and South Korea recently came to an agreement that allows firms to settle deals in either the Chinese yuan or the South Korea won instead of the U.S. dollar. "The agreement is part of a push among emerging countries to internationalize local currencies after the global financial crisis," reports Bloomberg. Alan Wheatley, a global economics correspondent for Reuters recently wrote: "Fed up with what it sees as Washington's malign neglect of the dollar,

China is busily promoting the cross-border use of its own currency, the yuan. Displacing the dollar, Beijing says, will reduce volatility in oil and commodity prices and belatedly erode the ‘exorbitant privilege' the United States enjoys as the issuer of the reserve currency at the heart of a post-war international financial architecture it now sees as hopelessly outmoded." In fact, in the past couple years, China has signed international currency agreements with Germany, Brazil, Russia, Australia, Japan, Chile, the United Arab Emirates, India and South Africa. Japan and India also recently signed a currency deal linking their currencies closer together, and lessening their dependency on U.S. dollars.

These agreements are part of a trend that started a few years ago, when a group of the world's most powerful countries, including China, Japan, Russia, and France, got together for a secret meeting – WITHOUT the United States being present or even knowing about the meeting.Veteran Middle East reporter Robert Fisk reported on this event in Britain's newspaper, The Independent. Here's what he wrote: "In the most profound financial change in recent Middle East history, Gulf Arabs are planning – along with China, Russia, Japan and France – to end dollar dealing for oil, moving instead to a basket of currencies including the Japanese Yen, Chinese yuan, the euro, gold and a new, unified currency planned for nations in the Gulf Co-operation Council, including Saudi Arabia, Abu Dhabi, Kuwait and Qatar." Fisk also interviewed a Chinese banker who said: "These plans will change the face of international financial transactions. America... must be very worried. You will know how worried by the thunder of denials this news will generate." And sure enough, after Fisk published the details of this secret meeting, U.S. officials and central bankers from around the globe denied these plans.

edit on 13-9-2014 by knightsofcydonia because: (no reason given)

posted on Sep, 13 2014 @ 05:25 PM
But as the old central banking adage goes... how do you know exactly when a currency will be devalued? The answer is: Right AFTER the head of the central bank goes on television to adamantly deny that any such transaction will occur. (And guess who subsequently released a public statement about how the U.S. will "not devalue its currency"? Yes, you guessed it... U.S. Treasury Secretary Tim Geithner.)
You see, the last thing a central banker wants to do in the midst of a devaluation is to give people a warning BEFORE he can devalue. So they have to deny, deny, deny. After the announcement is made, it's too late for citizens and investors to get out.

Then, not too long after this secret meeting was held, the International Monetary Fund (IMF) issued a report on a possible replacement for the dollar as the world's reserve currency. I'm sure you recognize the significance of this event. The IMF, which is headquartered in Washington, D.C., is the intergovernmental organization that oversees the global financial system. They are THE most influential financial organization in the world economy. The IMF has proposed replacing the U.S. dollar with something called "Special Drawing Rights," or SDRs. SDRs represent potential claims on the currencies of IMF members. SDRs were created by the IMF in 1969 and can be converted into any currency, based on a weighted basket of international currencies. When the IMF lends money, it typically does so via SDRs. The IMF also proposed creating SDR-denominated bonds, which could reduce central banks' dependence on U.S. Treasury Bonds.The Fund also suggested that certain assets, such as oil and gold, which are traded in U.S. dollars, could be priced using SDRs.

This is a HUGE and important step to replace the U.S. dollar as the world's reserve currency. I'm telling you... it's coming... and it's coming much sooner than most Amerikans expect.

Most Amerikans simply aren't aware of what's being done and said around the world. For example, regarding the world's reserve currency, China issued a report through their state news agency, Xinhua, stating: "International supervision over the issue of U.S. dollars should be introduced and a new, stable and secured global reserve currency may also be an option to avert a catastrophe caused by any single country." It's just another sign of this inevitable event—the end of the U.S. dollar as the world's reserve currency.

China and Russia, for example, took one of their first big steps to replace the U.S. dollar back in 2010...China Daily reported... "The two countries were accustomed to using other currencies, especially the dollar, for bilateral trade. Since the financial crisis, however, high-ranking officials on both sides began to explore other possibilities." To settle their ordinary trading of about $50 billion per year, they no longer first convert to U.S. dollars. Since then, China has reached agreements with many other countries, as I mentioned earlier. Remember, they've already signed international currency agreements with Germany, Brazil, Russia, Australia, Japan, Chile, the United Arab Emirates, India and South Africa.

What does this mean?

Well, it used to be that China had to obtain dollars to buy gas supplies from, say, Russia. But not anymore. And Russia no longer needs U.S. dollars to buy stuff from the Chinese. And this brings us to one of the biggest and most important facts regarding the U.S. dollar. As the dollar loses its place as the world's reserve currency, foreign countries will no longer need to maintain large holdings of dollars. This means the government will no longer be able to print as much money as they want — because there will be fewer and fewer people willing to loan them large amounts of money.

This move between China and other countries around the world would have been unthinkable 10 years ago, but today it is the new reality. As I am sure you are aware, for years the U.S. dollar has been accepted almost universally around the globe. Well, that's simply not the case anymore...Many Places No Longer Accept the Dollar. For example, the Seattle Times reports that in Mexico, Americans are no longer allowed to exchange more than $1,500 dollars per month. In India, the country's tourism minister said U.S. dollars will no longer be accepted at the country's heritage tourist sites, like the Taj Mahal. And the U.S. dollar is no longer good anywhere in Cuba. China is moving in the same direction. The New York Times reports..."Now, many shops in China no longer accept dollar-based credit cards issued by foreign banks... and foreigners cannot convert American dollars into renminbi beyond a given quota." Iran, of course, has already moved all of its reserves out of U.S. dollars, and Kuwait de-pegged it's currency from the dollar a few years ago. And the Chicago Mercantile Exchange (the world's largest futures and commodities exchange board), now accepts gold to settle futures contracts. Until recently, the exchange typically accepted only U.S. treasuries and bonds as payment.

Again, this would have all been completely unthinkable 10 years ago, but today it's a reality. And this trend is going to keep moving incredibly fast. I know... you probably still don't believe there can have a complete currency collapse here in the United States. But think about it...Are Amerikans really immune to the laws of economics and finance? I don't think so. And I'm not the only one saying this... The dollar's days as reserve currency are numbered," reports the Financial Times. And the Wall Street Journal recently ran a headline saying: "Dollar's Reign as World's Main Reserve Currency is Near an End." I'm sure I don't have to tell you that the Financial Times and the Wall Street Journal are probably the two most respected financial newspapers in the world. They too see the writing on the wall.

It's obvious to anyone who has studied any economic history. In every instance, throughout history, where a government has tried to inflate its debts away, it has ended in disaster.
As Jim Rogers says: "History teaches us that such imprudent monetary and fiscal behavior has always led to economic disaster."This is why World Bank president, Robert B. Zoellick, in a speech at the School for Advanced International Studies at Johns Hopkins University, recently said: "The United States would be mistaken to take for granted the dollar's place as the world's predominant reserve currency. Looking forward, there will increasingly be other options to the dollar." And this is why the International Monetary Fund (IMF) recently published a paper calling for a new global world currency.

This is why big U.S. companies like McDonald's and Caterpillar have begun introducing what are called "dim-sum bonds." These are securities denominated in the Chinese currency (the renminbi) by non-Chinese borrowers. In other words, two of the biggest and most successful corporations in America realize they would have an easier time raising money by offering their bonds in a currency other than the U.S. dollar! Do you see where this is all heading?

posted on Sep, 13 2014 @ 05:25 PM
The point is, it's not a matter of "if" the U.S. dollar will lose its status as the world's reserve currency... it's a process that is already underway. And if, over the next few years, you ignore these basic facts, these basic laws of finance and economics, it will simply destroy you.

Let me show you The REAL State of the U.S. Economy

I know many of my friends and family members are still in serious denial about a major currency crisis in the United States. But this is natural...In the world of psychology, they call this the "normalcy bias." You see, the normalcy bias actually refers to our natural reactions when facing a crisis. The normalcy bias causes smart people to underestimate the possibility of a disaster and its effects. In short, people believe that since something has never happened before... it never will. We are all guilty of it... it's just human nature. The normalcy bias also makes people unable to deal with a disaster, once it has occurred. Basically... people have a really hard time preparing for and dealing with something they have never experienced before.
We saw the same thing happen during Hurricane Katrina...Even as it became clear that the levee system was not going to work, tens of thousands of people stayed in their homes, directly in the line of the oncoming waves of water. People had never seen things get this bad before... so they simply didn't believe it could happen. As a result, nearly 2,000 residents died. Again... it's the "normalcy bias." We simply refuse to see the evidence that's right in front of our face, because it is unlike anything we have experienced before. The normalcy bias kicks in... And we continue to go about our lives as if nothing is unusual or out of the ordinary.Well, we're seeing the same thing happen in the United States right now during this currency crisis.

The U.S. has been the world's most powerful country for nearly 100 years. The U.S. dollar has reigned supreme as the world's reserve currency for more than 50 years.
Most of us in America simply cannot fathom these things changing. But I promise you this, things are changing... and faster than most people realize. For a moment, just look at a tiny fraction of the evidence around us...** 15% OF POPULATION ON FOODSTAMPS. Did you know that there are now more than 46 million Americans on food stamps? That's nearly 15% of the entire population. Those numbers are up 65% since 2008 and that translates to roughly 1 in 7 Americans!

Can a country really be in good shape when 15% of the population can't even afford to buy food? Or how about this...** 43% OF AMERICAN FAMILIES ARE ESSENTIALLY BROKE. According to a recent article on MSN Money, about 43% of American families spend more than they earn each year. Americans hold $12.8 TRILLION in household debt. And of those households carrying debt, the average credit card balance is a whopping $15,422. It's no wonder... The U.S. Census Bureau says the median household income in America is actually 8.9% LOWER today than it was in 1999.

So how in the world can we possibly "spend" our way out of the current crisis?
It certainly can't do it with savings... or increased earnings... the only answer is to print more money, which will hasten the fall of the U.S. dollar as the world's reserve currency. And that brings me to...

There's simply no one better at bending statistics than the U.S. government. Take the unemployment rate, for example. Back in the 1930s, anyone without a job but not retired was considered "unemployed." Today, however, the government calculates unemployment mainly by counting the number of people receiving unemployment benefits. So when unemployment benefits expire, people are no longer counted... and the unemployment rate actually falls! Ridiculous... I know.
If we were to actually believe the government's distorted calculations, unemployment was reported to be 7.8% in December 2012, according to the Department of Labor.
But the reality is, the true unemployment rate is much, much higher than what the government is reporting.

The problem is currency war and change of the guard. They also will have their "mark it" crash. For this time wit will be globally. They need the avarice of the amerikan and European to supply the demand.

So Beware and Prepare, for metals will fail also...Put everything into real wealth, food, clothing, shelter enriching your community by teaching self sustainability. Becoming free of debt.

a reply to: knightsofcydonia

posted on Sep, 13 2014 @ 06:18 PM
a reply to: knightsofcydonia

I think you're seeing some normalcy bias from ATS right now about this topic unfortunately. So I had a couple questions.

1. If a new world reserve currency emerges how will metal go down in price. That doesn't make sense to me. We'd have mostly unusable dollars but people could buy gold with say the Yuan. But to buy enough Yuan with dollars to purchase say gold would be exorbitant. No? Yes?

2. If the dollar loses reserve status what will happen to the world derivative markets? Seems to me when that pile goes up in flames the whole world is coming crashing down.

When the dollar really falls though I believe the US government is going to start shooting so there may be no one left anyway. They are that arrogant and feel that entitles it seems to me.

posted on Sep, 13 2014 @ 06:37 PM

originally posted by: Bassago
a reply to: knightsofcydonia

I think you're seeing some normalcy bias from ATS right now about this topic unfortunately. So I had a couple questions.

1. If a new world reserve currency emerges how will metal go down in price. That doesn't make sense to me. We'd have mostly unusable dollars but people could buy gold with say the Yuan. But to buy enough Yuan with dollars to purchase say gold would be exorbitant. No? Yes?

2. If the dollar loses reserve status what will happen to the world derivative markets? Seems to me when that pile goes up in flames the whole world is coming crashing down.

When the dollar really falls though I believe the US government is going to start shooting so there may be no one left anyway. They are that arrogant and feel that entitles it seems to me.


While us little people fight over abortion and gay rights, we fail to realize that humanity seems to be on the brink of extinction due to the greed and expert manipulation by the wealthy elite!

posted on Sep, 13 2014 @ 07:16 PM
a reply to: seeker1963

I triple the motion and will state further that they orchestrated it to happen this way.
Why work for your money when you can have the military do the heavy lifting, politicians do the managing and taxpayers flipping the bill!

posted on Sep, 13 2014 @ 09:24 PM
YAY more copypasta.

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