The Demise of the Dollar, has been a long time coming.
Its demise was predicted in 1988, as we see in this Economist front page article, that featured the demise of several major currencies, and showed a picture of a Phoenix rising from the ashes, with a new Golden currency hung around its neck. Was this a prediction because the Economist, a Rothschild owned corporation had plans in place to do just that?
The rise of Asia, and in particular China, with its 1.4 billion people, India, with 1.2 billion, Indonesia with 125 million, Japan with a 100+ million more, and all the others – the Asian Tigers: Taiwan, South Korea, Malaysia, Vietnam, Philippines, Singapore, and Hong Kong have all realised that trading with their former communist giant, and now slowly like an unfolded Venus Fly Trap, are being tempted into Chinese jaws.
According to several figures, there have been a number of attacks on the Dollar, as its replacement is clandestinely being planned.
Crypto-currencies have eaten away at transactions in all fiat-currencies, but perhaps Bitcoin has been the biggest of those contenders; though Ethereum, Monero, Dash, Litecoin Electroneum and dozens of others have entered the fray. BUt the biggest attacks have come from other nations…
…in all THERE HAS BEEN 1 TRILLION IN ATTACKS ON THE U.S. DOLLAR
The U.K. ($18.7 Billion attack): Joined China’s Foreign Exchange Trade System to bypass the U.S. Dollar and trade directly in Sterling and Yuan and trade Yuan denominated bonds. China ($100 Billion): The Chinese official sector sold almost $100 billion of U.S. stocks over the past year. They’ve been reducing their Treasury holdings. And they’ve secretly been stockpiling hundreds of tonnes of high-purity gold bullion bars.
Iran ($1.2 Billion): Has used gold after being sanctioned by the U.S. and ejected from the Dollar-based payments system called SWIFT.(Society of Worldwide Interbank Financial Transfers)
South Africa ($2.5 Billion): Has joined with the BRICS nations to create a bank that will extend at least $2.5 billion in non-Dollar credit to the world. India ($8.2 Billion): Has made agreements with Japan to receive Yen for internal development projects, instead of turning to U.S. development institutions like the World Bank for Dollars or going to the U.S. government itself.
Japan ($69 Billion): Has agreed to circumvent the Dollar and trade directly with China in billions worth of Yuan and Yen . One news outlet says the move aims to “hedge the risk of the Dollar’s fall in the long run as the world’s key settlement currency.”
Switzerland ($24.17 Billion): Agreed to help China develop its offshore Yuan market so more countries can diversify away from Dollars into Yuan.
According to Bloomberg, the Swiss Franc is “the seventh major currency that can bypass a conversion into the U.S. Dollar and be directly exchanged for Yuan.”
Sweden, Norway and Denmark ($2.5 Billion): Created a Euro currency-beeline to Iceland that doesn’t require Dollars.
South Korea ($20 Billion attack): Has created bilateral currency swap agreements with Australia, China, Malaysia and Indonesia that last until 2020. They’ve renewed a multibillion Won -Yen currency swap with Japan. And they’re also actively trying to forge a direct currency swap deal with the United Arab Emirates.
Russia ($7.8 Billion): Is actively recruiting nations to trade oil in Roubles instead of Dollars and having its largest state-owned oil company- Gazprom – issue its corporate debt in Asian currencies instead of Dollars. Bloomberg says its “aim is to move away from quoting petroleum in U.S. Dollars.”
United Arab Emirates ($55 Billion): Created a bilateral trade deal with China to trade in Dirhams and Yuan. One expert said the Chinese are “trying to shoot for an alternative currency to the Dollar.” – all while investing heavily into Gold…
Saudi Arabia (up to $750 Billion): is threatening to take as much as a $750 billion support out from under the Dollar in spite of the agreement made back in 1974 between Saudi King Faisal, and the U.S. Secretary of State, Henry Kissinger to only sell oil in Dollars, if America doesn’t meet its demands.
The International Monetary Fund’s attack: Added the Chinese Yuan to its supra-national currency, the Special Drawing Right. One millionaire commodity investor remarked upon the news, saying, “The U.S. Dollar is a very flawed currency… [the Yuan] will probably challenge the U.S. Dollar.”
And the World Bank too, is also challenging Dollar hegemony, as Karen Hudes, the former legal counsel to the World Bank was fired for whistle-blowing. BUT, after buying a share in the World Bank, as a shareholder, she forced her way back into meetings, and demanded that the corruption that she had uncovered be exposed to the disinfecting light. After winning her case she forced the World Bank to re-employ her; and ever since, she has conducted a one woman campaign ever since to rid the world’s financial system of the corrupting influence of fiat currency, and Federal Reserve Notes – aka “The Dollar”.
As her numerous You-tube videos have now shown, the Dollar has reached the end of the road, and it is only a matter of time. Lynette Zang, Senior Trading Analyst with her company ITM Trading, suggests in her recent interviews, that the fuse has been lit, it’s only a matter of how long the wick is.
For those looking for their own parachute. Gold and Silver make the perfect insurance, though choosing where, how and what to buy is important. And that will be discussed in my next post.
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