Bundesbank Warns China’s Currency “On Its Way To Becoming Global Reserve Currency”
Following the most recent shift ‘away’ from a USD-centric world (with the China-Australia direct currency convertibility), it seems the possibility of China’s Yuan as the next global reserve currency is getting closer. The Brits, Germans, and now the Swiss (who just signed a free-trade-agreement with China) are all actively vying to become Europe’s Yuan trading hub as it seems the long line of developments to internationalize the currency over the past two years. As Bundesbank board member Joachim Nagel noted in a speech entitled “Reniminbi as a potential reserve currency” this week, “the Chinese currency is well on its way to becoming one of the future global reserve currencies.” He noted that, although the USD is still the most commonly-used currency for settling trade with China; from virtually zero in 2010, the Yuan is used to settle over 12% of trading transactions now – and is likley to increase further. ….
But hey, who needs industrial manufacturing, who needs jobs, who needs representative government? We have Xbox and TV. Virtual reality is just as good as the real thing. I actually heard a statistics graduate student tell me this with a straight face. Well I guess it’s largely true if you don’t have a decent sex life because of genital mutilation (thanks rockefellers!) But you still need food to maintain your physical portal. I guess non-existence is the ultimate virtual reality.
If you want to know who’s responsible, look no further than the owners of the federal reserve, i.e. the TBTF banks who profit from endless war, who pulled the rug out from under us. You can start with the extremely prestigious and unquestioned guidance of the experts at the council on foreign relations and the trilateral commission, whose banker benefactor scam artists moved their stolen assets to china years ago. Your congress person probably attends the CFR’s meetings, like much of the military brass. They have used the sweat and tears and trust of the american people in their pathological quest for global empire. We have been in the eye of their hurricane, but now the hurricane is moving and we’re not.
Meet the men behind the curtain, your real bosses, who are too bashful to go out in public: http://thoughtcrimeradio.net/2012/10/how-they-live/