Lindsey Williams ~ Impending Financial Collapse

Lindsey Williams on Radio Liberty 10-06-12 – Impending Financial Collapse here are some key point : the most significant day in the history of the American dollar since its inception was Thursday September the 6th during the democratic convention that was the day when China announced that any country in the world that wishes to can use the Chinese currency the Renminbi to trade crude oil , the next day September […]

Germany announces they will be settling trades bilaterally with China in the Yuan and Euro. Petro dollar takes another big hit.

Comments on this starts at about 9:00

Quote from article: “… China is actively taking steps to phase out the US dollar which will decrease volatility in oil and commodity prices and deride the ‘exorbitant privilege’ the USA commands as the issuer of the reserve currency at the centre of a post-war international financial architecture which is now failing.

In 1971, U.S. Treasury Secretary John Connally said, “It’s our […]

Will The Chinese Renminbi Replace The U.S. Dollar As The Primary Reserve Currency Of The World?

by Michael

Most Americans have no idea what a tremendous advantage the United States possesses by having the primary reserve currency of the world, and most Americans also have no idea how close the U.S. dollar is to losing that status.  For the past 40 years, the vast majority of all global trade (including the buying and selling of oil) has been done in U.S. dollars.  That is still […]

Breaking News!! China Is Running Out Of Money

From Forbes:

China Is Running Out Of Money. Why has the economy so far failed to respond? There are various reasons, but perhaps the most important is that the country is running out of money for stimulus.

At first glance, that proposition seems preposterous. After all, the People’s Bank of China, the central bank, held $3.24 trillion of foreign currency reserves at the end of the first half of this […]

The USD Trap Is Closing: Dollar Exclusion Zone Crosses The Pacific As Brazil Signs China Currency Swap

When the US Dollar is ultimately dethroned as the world’s reserve currency (and finally gets rid of all those ridiculous three letter post-Keynesian economic “theories”) nobody will have seen it coming. Well, nobody except for the following headlines: ““World’s Second (China) And Third Largest (Japan) Economies To Bypass Dollar, Engage In Direct Currency Trade“, “China, Russia Drop Dollar In Bilateral Trade“, “China And Iran To Bypass Dollar, Plan Oil Barter […]

The We-Fixed-Nothing Chickens Are Coming Home to Roost – Charles Hugh Smith

by Charles Hugh Smith

The We-Fixed-Nothing Chickens Are Coming Home to Roost   (June 4, 2012)  When the real problems are masked with fake “solutions,” the chickens eventually come home to roost, and we wake up to the reality that the fake “solutions” have only made things much worse.

The reality that the global Status Quo has fixed absolutely nothing in four years is finally coming to roost in the global economy. Though […]

First Time Ever! The Dragon is Rising: Citgroup offering YUAN BANK ACCOUNTS in London, Say hello to the Dragon Empire!

LONDON (Dow Jones)–Citigroup (C) said Wednesday that it is launching yuan-denominated bank accounts in the U.K., providing further evidence that banks are stepping up their efforts to help London gain traction as a key offshore yuan-trading center.

Citigroup said its new product offering will make it possible for clients to make and collect payments in yuan–or renminbi–in the U.K. and to receive trade financing, foreign-exchange services and hedging solutions geared […]

Will China Make the Yuan a Gold-Backed Currency?

by WashingtonsBlog

If China Backs Its Currency with Gold, It Could Have Profound Effects for Investors … and Consumers

Larry Edelson – – writes today:

I know for a fact that Beijing wants its yuan to eventually become a gold-backed currency, much like the Swiss franc was originally. Backing the yuan with some gold will certainly help it become a major international currency.

Edelson is a financial adviser who travels frequently to […]

CNY vs USD: where next?

2012-APR-23

On Saturday April 14 the People’s Bank of China expanded the range that it would allow the renminbi to rise or fall each day. Previously the currency was only allowed to rise or fall by 0.5% from a determined midpoint, but now that limit is being increased to 1%. Many have long felt that the currency was undervalued and that this could be a first step in a upward […]

Robert Zoellick calls for Brics bank

telegraph.co.uk

Robert Zoellick said the World Bank would support a Brics bank, an idea formally proposed at a summit in New Delhi last week. The World Bank has previously backed the creation of the Islamic Development Bank and the Opec Fund to build financing and analytical capabilities.

If Brics nations “decide they want another financing vehicle – fine. Let’s figure out how to work with it … I’m enough of […]

More Bad News for the Dollar

6 MARCH 2012

Greg Hunter’s USAWatchdog.Com

Buying gasoline these days has turned into a horror show.  I filled up my car and handed the attendant a $50 bill to turn the pump on.  I had a little more than a quarter of a tank.  So, I thought that would do the trick and peg the needle past full with change to spare.  I was wrong.  I stood in shock as the […]