As if it were no surprise we knew it was just a matter of time when some country would take the initiative that the Washington, DC politic elite so desperately wanted...a new world currency! Oh, but they're already in denial:
In Washington, Federal Reserve Chairman Ben Bernanke and Treasury Secretary Timothy Geithner both rejected China's call for a global alternative to the U.S. dollar's role as the international reserve currency. ~ ABC News (Note: See that picture below, tell me that Bernanke and Geithner didn't know this long before Simon Black published it; yeah, and I've got some beach front property in Arizona for sale...lots of sand but a long way to the water..ha, ha.)Its all a part of their New World Order (NWO) they have been telling us about all along.
The power brokers in DC know that if the United States took the first step that there would be an outburst of angry Americans (many bloggers have been addressing this issue for years) so make arrangements for someone else to take the blame. Just what do you think every Secretary of State from Henry Kissinger to Hillary Clinton talk about when they go globe trotting? Part of their game plan was not to alarm the American citizens who, for the most part, never listened to George Herbert Walker Bush, William Jefferson Clinton, Henry Kissinger, Gordon Brown, and others less prominently known; all of who talked about the NWO whenever the opportunity presented itself. When the country goes down the tubes I blame the complacent American citizen who doesn't know how to vote for a Democrat or a Republican...remember that slogan, "Its the economy stupid." To all you know-it-all voters, "Its your stupid vote!" ~ Norman E. Hooben
Source: SOVEREIGN MAN
The Chinese have put out billboard ads announcing the renminbi as the new world currency
by Simon Black
The billboard was from the Bank of China. It said: “RMB: New Choice; The World Currency”
Given that the Bank of China is more than 70% owned by the government of the People’s Republic of China, I find this very significant.
It means that China is literally advertising its currency overseas, and it’s making sure that everyone landing at one of the world’s busiest airports sees it. They know that the future belongs to them and they’re flaunting it.
And it’s true. The renminbi’s importance in global trade and as a reserve currency is increasing exponentially, with renminbi trading hubs popping up all over the world, from Singapore to London to Geneva to Frankfurt to Toronto.
Multinational companies such as McDonald’s are now issuing bonds in renminbi, and even sovereign governments are issuing debt denominated in renminbi, including the UK.
Almost every major global player out there, be it governments or major multinationals, is positioning itself for the renminbi to become the dominant reserve currency.
But here’s the thing. Nothing goes up and down in a straight line. And China is in deep trouble right now. The economy is slowing down and the enormous debt bubble is starting to burst.
A lot of people, including the richest man in Asia, are starting to move their money out of the country.
So while the long-term trend is pretty clear – China becoming the dominant economic and financial superpower – the short-term is going to look incredibly rocky. ...continued here
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