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China is proposing to replace the US dollar with the Hong Kong dollar

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Anonymous Coward
User ID: 806818
11/8/2009 1:37 AM
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China is proposing to replace the US dollar with the Hong Kong dollar

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[link to benjaminfulford.typepad.com]

China is proposing to replace the US dollar with the Hong Kong dollar

At a top secret high-finance meeting scheduled for this weekend, China will propose that the US dollar be replaced by the Hong Kong dollar, according to a senior MI6 source. The proposal is under serious consideration by the backers of the new financial system.

As we have previously reported most US dollars ever created are now backed by gold at the rate of 1/28th of a gram per dollar. The fraudulent Federal Reserve Board fiat dollars issued after September, 2008 are not. Nor are any dollars derived from fraudulent "derivatives." So, to replace the US dollar with the Hong Kong dollar all that would be required would be to rename the gold-backed dollars. Any new Hong Kong dollars issued would be backed by the Renminbi, according to the Chinese proposal.

It might also be a good idea to rename the Hong Kong dollar the Hong Kong Yen (pronounced Yuan in Chinese). This is not for chauvinistic Asian reasons but simply because the dollar symbol $, is derived from a Satanic image of two snakes fighting while the word Yen means “fountain of life.”

Anonymous Coward
User ID: 813221
11/8/2009 1:38 AM

Re: China is proposing to replace the US dollar with the Hong Kong dollar	Quote
I like it!

Anonymous Coward
User ID: 754467
11/8/2009 2:33 AM

Re: China is proposing to replace the US dollar with the Hong Kong dollar	Quote

Anonymous Coward
User ID: 745732
11/8/2009 2:47 AM

Re: China is proposing to replace the US dollar with the Hong Kong dollar	Quote
To my knowledge, dollar convertibility to gold ended when the Bretton Woods agreement collapsed in 1971. The United States unilaterally discontinued convertibility of dollars to gold. The U.S. dollar was then adopted as the new international currency rather than gold. Under Bretton Woods, countries were required to pay for imported products with gold.

Anonymous Coward
User ID: 810358
11/8/2009 2:57 AM

Re: China is proposing to replace the US dollar with the Hong Kong dollar	Quote
The International spot price for gold by troy oz is actually $42.22 "1. Gold held "under earmark" at Federal Reserve Banks for foreign and international accounts is not included in the gold stock of the United States; see table 3.13, line 3. Gold stock is valued at $42.22 per fine troy ounce. " [link to www.federalreserve.gov] som

Anonymous Coward
User ID: 810358
11/8/2009 2:58 AM

Re: China is proposing to replace the US dollar with the Hong Kong dollar

Quote

found this at the same site ...

2. Special drawing rights (SDRs) are valued according to a technique adopted by the International Monetary Fund (IMF) in July 1974. Values are based on a weighted average of exchange rates for the currencies of member countries. From July 1974 through December 1980, sixteen currencies were used; since January 1981, five currencies have been used. U.S. SDR holdings and reserve positions in the IMF have also been valued on this basis since July 1974.

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