Renminbi Relentlessly Replacing U.S. Dollar As Global Reserve Currency

Panetta is more of a godamn commie than Hu Jin Tao.

Its funny that you bring up gold. There have been many reports that china has recently been calling in for all their physical gold from the US and European reserves. There have also been reports that a foundry in Switzerland has been pouring kilo sized bars for them along with china doing it themselves. They are very likely positioned to have the only true gold backed currency in the world. All the while, they have been buying up our debt as leverage to do this. Once they dump that debt back on us and prop up their currency with a true gold backing, its lights out for the dollar and the US in general.

Now that Obama has been re-elected, this will accelerate rapidly.

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.

these pricks can't sell drywall that is not toxic , think they can get people too trust their currency ?

ha the day the fucko's try to gold back their currency as in exchange currency for gold , their whole fucking stash of PM's will be gone.

given the chinese are wily bastards and meant in a good way, they will have counterfeiting problems up the ass , along with a good dope slapping of idenity theft ) it will be an epic clownfuck

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.

lulz. silly liberal, you're on the menu.

so will american liberals dumbass.

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

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]

If "conservatives" are such useless parasites then it really ought not matter how Galt they go. You can do just as good of a job, right? Your new Blackspanic workforce will soar to untold heights with the White debbils out of the way -- just like in Rhodesia, South Africa, Bolivia, Cuba, Zanzibar, Detroit, Chicago, etc.

You can do it. I believe in you.

It is a scientific fact that white people are lazy workers. give me an Asian in the workforce any day.

They're so lazy they've created societies that non-Whites tirelessly seek to get into.

I never hire whites. I do not hate them. They are just too lazy. I will not hire Asians to do dirty jobs. They do not like that kind of work. If I have hard dirty work to do I almost always hire a Mexican or an outside Mexican company, because you always know that the Mexicans will do it right and they will do it quickly.

these pricks can't sell drywall that is not toxic , think they can get people too trust their currency ?

ha the day the fucko's try to gold back their currency as in exchange currency for gold , their whole fucking stash of PM's will be gone.

given the chinese are wily bastards and meant in a good way, they will have counterfeiting problems up the ass , along with a good dope slapping of idenity theft ) it will be an epic clownfuck

Isn't this supposed to be why Obama needed to start a war with China?

And the Aircraft carrier George Washington is sitting right off the coast of Shanghai in the East China sea as of Nov. 7th..

they forget to add cambodia to their list... the central bank now has renminbi in their reserve besides the dollars and china is investing and loaning money very heavily there...that 's what worry the US and panetta is scheduled to visit there soon.

Do you realize how grossly stupid your comments are? Just because a price is quoted in Dollars or Pounds or Euros or Yuan means absolutely nothing. Euros are not changed into Dollars to buy oil. The only reason the price is quoted in Dollars is that the Dollar has gone up against all the other currencies on the planet in the past few years and the past 100 years. It makes sense to quote a price in a currency that is stable.

European countries can pay with Euros. Japan can pay with Yen. It usually does not matter what Electronic currency they present for payments as long as it is the momentary equivalent of the Dollar as priced on world markets. Almost all foreign purchases are done electronically now. They are not paid with actual currency. Almost nobody uses Currency now a days.

Who can even pronounce Renminbi?
If they shorten it to Ren, like Ren and Stimpy,
I'll buy some.