The US dollar is now in the process of
collapsing. It will eventually lose the reserve status of the world.
China has taken the first step to remove the US dollar as the reserve
currency by broadcasting to the world that it does not see the
benefit of holding the dollar any more. China decided to take it one
step further by saying that they may price crude in the yuan. The
central bankers/US Government are pushing the false flag event and
are preparing for what is about to hit every American. This event
will be much worse than 911, it will be so horrific that people will
be crying in the streets.
China
Announces That It Is Going To Stop Stockpiling U.S. Dollars
China
just dropped an absolute bombshell, but it was almost entirely
ignored by the mainstream media in the United States. The
central bank of China has decided that it is “no longer in China’s
favor to accumulate foreign-exchange reserves”. During the
third quarter of 2013, China’s foreign-exchange reserves were
valued at approximately$3.66
trillion. And of course the biggest chunk of that was made
up of U.S. dollars. For years, China has been accumulating
dollars and working hard to keep the value of the dollar up and the
value of the yuan down. One of the goals has been to make
Chinese products less expensive in the international marketplace.
But now China has announced that the time has come for it to stop
stockpiling U.S. dollars. And if that does indeed turn out to
be the case, than many U.S. analysts are suggesting that China could
also soon stop buying any more U.S. debt. Needless to say, all
of this would be very bad for the United States.
For years, China has been systematically
propping up the value of the U.S. dollar and keeping the value of the
yuan artificially low. This has resulted in a massive flood of
super cheap products from across the Pacific that U.S. consumers have
been eagerly gobbling up.
For example, have you ever gone into a dollar
store and wondered how anyone could possibly make a profit by making
those products and selling them for just one dollar?
…
And
now China has apparently decided that there is not much gutting of
our economy left to do and that it is time to let the dollar
collapse. As I mentioned above, China
has announced that it is going to stop stockpiling foreign-exchange
reserves…
The People’s Bank of China said the country does not benefit any more from increases in its foreign-currency holdings, adding to signs policy makers will rein in dollar purchases that limit the yuan’s appreciation.
“It’s no longer in China’s favor to accumulate foreign-exchange reserves,” Yi Gang, a deputy governor at the central bank, said in a speech organized by China Economists 50 Forum at Tsinghua University yesterday. The monetary authority will “basically” end normal intervention in the currency market and broaden the yuan’s daily trading range, Governor Zhou Xiaochuan wrote in an article in a guidebook explaining reforms outlined last week following a Communist Party meeting. Neither Yi nor Zhou gave a timeframe for any changes.
It isn’t going to happen overnight, but the
value of the U.S. dollar is going to start to go down, and all of
that cheap stuff that you are used to buying at Wal-Mart and the
dollar store is going to become a lot more expensive.
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