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Global Currency Reset In Process: Russia & China Are Fed Up With The Dollar System & Dollar Hegemony, BRICS May Agree On $100 Billion Currency Fund, The Bankers of The World Are Fixing To Throw Away The U.S. Dollar As The Global Reserve Currency


BRICS Wants to Get Rid of Dollar

James Rickards – Currency wars driving new Gold Rush

http://bcove.me/lsqmylaf

“Russia & China are fed up with the dollar system & dollar hegemony.” Jim Rickards discusses Global Currency Wars and his out look on Gold

http://www.abndigital.com/video/analyst-interviews/2013/08/30/current-wars-driving-new-gold-rush/

The Ongoing Regime Change In The US Dollar Is Havoc For Risk Managers

Treasuries to some extent lost their status as a “risk-off” asset (see post). The correlation between the dollar and interest rates suddenly flipped into positive territory, which is more in line with the traditional way of thinking about the relationship. In fact the correlation hit its highest level in nearly a decade. US rates recently became the “risk driver” of other asset classes.

 

dollar rates correlationSober Look

Trade Weighted U.S. Dollar Index: Major Currencies (DTWEXM) vs. 10 yr  treasury yield

This regime change plays havoc with many common risk models that banks and even some asset management firms run. These models often drive trading limits, counterparty potential exposure measurements, and bank regulatory capital. The calculations tend to rely on historical relationships – sometimes over a period covering the previous two years (as prescribed by the Basel rules). At this point however some of these models are all but meaningless, as correlations among major asset classes have flipped. Yet these measures continue to be broadly used, with regulators encouraging or even requiring this practice.

Read more: http://soberlook.com/2013/08/market-regime-change-is-your-risk.html#ixzz2dXyCurKV

India pushes ‘shock and awe’ currency plan to save BRICS

India is pushing for joint “shock-and-awe” intervention by key developing states to halt capital flight & shore up currencies, in a move that risks backfiring & triggering a vicious spiral.

http://www.telegraph.co.uk/finance/currency/10277392/India-pushes-shock-and-awe-currency-plan-to-save-BRICS.html

BRICS may agree on 100 bn currency fund

http://articles.economictimes.indiatimes.com/2013-08-28/news/41538890_1_brics-leaders-contingent-reserve-arrangement-new-fund

The Bankers of the world are fixing to throw away the U.S. dollar as the global reserve currency, and kill millions of useless eaters in the process, because they are Gods!

Japan is collapsing
India is collapsing
all of Europe is in the soup also.

Follow the money.

Remember that all wars are bankers wars, and then realize this, they’ve been preparing to collapse the U.S. Currency.

Most think they are fighting to protect it, and this was true at one point in time, but now they have decided it is time to pull it. They knew they would have to do something sooner or later, and time is no longer on their side, so, they are going for it.

The bankers are going to trade the U.S. dollar and all it’s limitations on them, for a global dollar with unlimited printing ability, and total control over everyone.

Send weapons through Egypt, Turkey, and through Benghazi to Syrian Rebels. Cause a false flag even with chemical weapons. The whole world cries out for retaliation (didn’t happen), then we launch an attack. Russia plays whatever part they’re supposed to. The entire middle east goes up in flames. The petro dollar is taken out, while we were trying to be heroes and stop the gassing of the innocent. Meanwhile millions upon millions die in the middle east. The economy that has been propped up here in the U.S. collapses, and they get to blame it on the Russians, or the Chinese, or perhaps a cyber attack retaliation, whatever the trigger the result is the same. Why do you think we backed the Muslim Brotherhood in Egypt? Why do you think they are all over the White House?
Read more at http://investmentwatchblog.com/syria-oil-petro-dollar-debt-ceiling-freeze-bullet-purchase-dollar-collapse-global-currency-nwo/#Xm4OHCR7KIF8wY17.99

G20 Showdown on Dollar Hedgemony

Obama canceled his scheduled meeting with Russian President Vladimir Putin last week. Although Obama didn’t give his reason for the cancellation, the media stoogery speculated it was because of Russia’s protection of whistleblower-patriot Edward Snowden. What is not being reported is that Russia has been warning its citizens and institutions since last March’s Cyprus bail-in to divest assets out of western banks.

Additionally, last week Yao Yudong of the PBoC’s monetary policy committee called for a new Bretton Woods system to strengthen the management of global liquidity. In an article in the China Securities Journal, Yao called for more power to the IMF as international cooperation and supervision are needed.

http://www.blacklistednews.com/G20_Showdown_on_Dollar_Hedgemony/28008/0/38/38/Y/M.html?utm_source=twitterfeed&utm_medium=twitter

U.S. Dollar – “Reserve” To “Laughing Stock” Currency In Less Than One Century

One might think this cannot go on forever—the debt ceiling being raised and the government subsequently hitting that new limit. But when we look at the fact that our debt-to-gross domestic product (GDP) ratio is only 105% and Japan’s debt-to-GDP is 205%, our national debt would have to double to $32.0 trillion for us to match Japan’s debt-to-GDP. But, of course, at that level of debt, instead of the U.S. dollar being the reserve currency of the world, it would likely become the “laughing stock” currency of the world….

http://www.testosteronepit.com/home/2013/8/29/us-dollar-reserve-to-laughing-stock-currency-in-less-than-on.html

The Sh*t is About to Hit the Fan, all because of the Petro dollar people! (video)
This is from a few months ago. It’s almost spot-on.

China’s Global Gold Grab — Watch Out, Come 2015

China is accumulating gold at an obscene pace and, come 2015, we’re going to see a huge announcement.

http://dailyresourcehunter.com/a-huge-gold-prediction-from-reality-tv/

Jim Rogers expects higher gold prices, and Marc Faber does too!

“We still believe that in the next couple of years, we will be looking at a gold price of around $3,500,” he said in the interview posted Wednesday. And as the gold/silver ratio plummets near 30, “this would suggest a silver SIU3 price above $100.”

http://blogs.marketwatch.com/thetell/2013/08/29/jim-rogers-expects-higher-gold-prices-and-marc-faber-does-too/

Shift From U.S. Dollar As World Reserve Currency Underway – What Will This Mean for America?

Today, more than 60% of all foreign currency reserves in the world are in U.S.dollars – but there are big changes on the horizon…Some of the biggest economies on earth have been making agreements with each other to move away from using the U.S. dollar in international trade…[and this shift] is going to have massive implications for the U.S. economy. [Let me explain what is underway.] Words: 1583

So says Michael T. Snyder (www.theeconomiccollapseblog.com)  in edited excerpts from his original article* entitled 10 Reasons Why the Reign of the Dollar as the World Reserve Currency I About to Come to an End.

[NOTE: This post is presented by  Lorimer Wilson, editor of  www.FinancialArticleSummariesToday.com andwww.munKNEE.com and the free Intelligence Report newsletter (see sample here – register here). The article may have been edited ([ ]), abridged (…) and/or reformatted (some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. This paragraph must be included in any article re-posting to avoid copyright infringement.]

Snyder goes on to say, in part:

China has the second largest economy on the face of the earth, and the size of the Chinese economy is projected to pass the size of the U.S. economy by 2016 [and projected to become three times larger than the U.S. economy by the year 2040 by at least one economist. [As such,] China is sitting there and wondering why the U.S. dollar should continue to be so preeminent if the Chinese economy is about to become the number one economy on the planet.

http://www.munknee.com/shift-from-u-s-dollar-as-world-reserve-currency-underway-what-will-this-mean-for-america/

What will happen if the “Dollar Collapses”

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  • GT

    I just love these alarmist articles that clearly state, “What Will This Mean for America?”, but then fail to give the answer.

    So what will this mean for America? Please describe the conditions that will exist as the dollar fails. Will it be a slide into poverty? Will unemployment get worse? Will government welfare programs help?

    Or can we expect beard lines, gangs roving for food and plunder, people shooting each other on the streets, attacks on the wealthy neighborhoods, and etc? How about a detailed description of what life will be like in the face of the declining dollar?