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Subject
Renminbi Relentlessly Replacing U.S. Dollar As Global Reserve Currency
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[quote:Anonymous Coward 26957116:MV8yMDQzMTEzXzM0MzU5NjQ4X0YwNDcyQTY=] [quote:Anonymous Coward 27253239:MV8yMDQzMTEzXzM0MzU5NTk1X0M2NURDRTBG] [quote:Anonymous Coward 26957116:MV8yMDQzMTEzXzM0MzU5MTY5XzRGN0EzNjM3] [quote:Anonymous Coward 10971613:MV8yMDQzMTEzXzM0MzMxNTYyXzk1NTU5QTJD] Now that Obama has been re-elected, this will accelerate rapidly. [/quote] As it should. It's about time american conservatives faced the music and owned up to their true parasitical nature feeding off the rest of the world with the USD as the reserve currency. If we lose that, you'll be eating dinner at the local garbage dump. [/quote] so will american liberals dumbass. [/quote] But you don't hear of liberal parasites going 'Galt' only the conservative parasites. Liberals are more humble and realize they've had help to get where they are and tat welfare dollars flow to ALL OF US while conservative trash thinks they did it 'all on their own' Dumbass [/quote]
Original Message
A “renminbi bloc” has been formed in East Asia, as nations in the region abandon the U.S. dollar and peg their currency to the Chinese yuan…
And now seven out of 10 economies in the region – including South Korea, Indonesia, Malaysia, Singapore and Thailand – track the renminbi more closely than they do the U.S. dollar…
According to the latest report by the Society for Worldwide Interbank Financial Telecommunication, or SWIFT, renminbi-denominated trade accounted for 10 percent of China’s total foreign trade in July. The figure was zero just two years ago.
From July 1 to August 31
, global payments in the renminbi rose
15.6 percent
, according to Swift as payment in other currencies fell 0.9 percent on the average… [emphasis mine]
We see three obvious points in the quote above:
1) The move from the dollar to the renminbi is now occurring rapidly.
2) Demand for the U.S. dollar is falling as a direct result of this shift.
3) Even Chinese media are attempting to cover-up the collapse of the dollar.
Read more:
[
link to etfdailynews.com
]
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