The Dollar: Handwriting On The Wall

Well this is one of the biggest events and stories in my opinion that is launching the Chinese/Renminbi as the world’s reserve currency in the not too distant future.

With Bernanke completely debasing the dollar by launching a never ending QE3 for purchase of mortgages, which is really a back door continued bail out of banks.

The move by the Federal Reserve proves the banks are not capable of lasting on their own. They have to have support. That support will come from a non stop printing of new U.S. dollars.

This is going to cause inflation, that inflation will not go completely hyper (in my opinion) until the dollar is not the oil trading currency of the world. Once the dollar is dropped as the oil currency that is when we will see unbelievable (and shocking to those not paying attention) hyperinflation.

China has been positioning itself for being the reserve currency for a few years now. From China making deals with South American countries to trade in Yuan, to Russia and China trading in their currencies without the dollar. Even Japan got into the fray by beginning to trade with China in Yuan and leaving the dollar behind a few months ago. The BRIC nations have set up trading in Yuan too. Remember the BRIC nations want to do their own Central trading bank, leaving out the World Bank from their trade money exchanges between them.

What cements the fact that China is going to have the world’s reserve currency in the not too distant future?

The Yuan/Renminbi is about to be traded on the futures market in the United States starting next month and in the first quarter of 2013 in Europe on their futures exchange.

The CME group which runs the future’s exchange in Chicago has added the Yuan to their exchange to be traded starting this year.

People need to fully understand the full impact of this. This means the writing is absolutely on the wall that the dollar is on it’s way out as the reserve currency. Even the U.S. based CME group sees the writing on the wall and has taken steps to position themselves for being part of the change and is making the way easier for the Yuan…

http://sherriequestioningall.blogspot.com/2012/09/chinas-yuanremminbi-becoming.html

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