Yuan Overtakes USD As Preferred Dominant Currency.

[Luigi1]

Here's an article from Dinarland...

Why The US Needs This RV & needs a gold standard.

Long read but it's worth the time.

China Yuan is now the global dominant currency.

Without much FanFair or celebration...China is quiet.

Will The RV also go quietly without celebration?

Treat as a rumor.  Not verified.  Your opine.

 

 

Simon Black:   The Dollar’s International Decline Is Becoming Really Obvious.

ARTICLE: On the morning of February 23, 1944, FDR sent an important telegram to two of his key allies overseas.  UK PM Winston Churchill & Joseph Stalin of Russia.   World War II was still raging while the allies had seized the upper hand, peace was more than a year away.

 

Surprisingly, though, Roosevelt didn’t write to his allies to discuss the war.  He was already thinking about what the world would look like after the war was over & in the telegram, Roosevelt invited them to participate in a conference on “postwar economic collaboration”.   The US was already the largest & most powerful economy in the world.  America was the only major power that hadn’t been devastated by war.  Most importantly, the US was so rich that they were the world’s primary creditor.   Britain, in fact, was heavily in debt to the US & at the time was actually negotiating to borrow even more money.  So Churchill couldn’t exactly refuse Roosevelt’s invitation.

 

44 allied nations ultimately attended what would become known as the Bretton Woods Conference that took

place in July 1944.  This event famously established a new, post-war monetary system in which the US & US Dollar became the epicenter of global commerce & finance.

What a lot of people don’t know is that a sort of ‘pre-conference’ took place the month before, in June 1944, in Atlantic City.   That site was chosen specifically for its cooler weather.  British economist John Maynard Keynes suffered from a terrible infection in his heart valves & hot weather made him feel much worse.   Keynes even pleaded to senior Treasury official Harry Dexter White, “For God’s sake do not take us to Washington ” where the weather was sweltering in the summer.

In the end they settled on Atlantic City, specifically for Keynes’s health & the first meeting to shape the new global financial system even took place on the beach!   Despite the balmy setting, however, Keynes was a thorn in the side of the American delegation; he was adamantly opposed to a post-war economic system in which the US Dollar had total dominance.   As an alternative solution, Keynes advocated for competing reserve currencies as well as a special central bank reserve currency that he wanted to call the ‘Bancor’.   In the end, though, Keynes was overruled.  The US was the only country capable of calling the shots & the rest of the world accepted America’s new dominance.

It’s been this way for the past 80 years.  Even today, the US Dollar continues to be used for the majority of cross border trade, foreign reserves & international financial transactions.   But as I have written many times before, this status is not written in stone.  It’s beginning to change very rapidly.  

 

One very recent development is that, in China, the Yuan just overtook the US Dollar as the most widely used currency for international trade.  
China has essentially been the manufacturer to the world for decades & does business with nearly every country on the planet.   Yet, up until last month, most of China’s trade was conducted in US Dollars.  If a Chinese manufacturer sold machinery to a Brazilian company, for example, or if a Chinese producer bought cobalt from Indonesia, those transactions traditionally took place in US Dollars.   Over time, however, China has been gradually using its own currency for trade.  Other countries have been happy to go along.   So now, for example, China might buy cobalt from Indonesia using Yuan instead of US Dollars.

 

[pokerplayer]

Biden just help speed up the demise of the US. Dollar. It's sad really. The US is such a wonderful country but to have an elected political party hell bent on destroying her is, well.... criminal for lack of a better way of saying it.

 

  pp

[Luigi1]

6 minutes ago, pokerplayer said:

Biden just help speed up the demise of the US. Dollar. It's sad really. The US is such a wonderful country but to have an elected political party hell bent on destroying her is, well.... criminal for lack of a better way of saying it.

 

  pp

 

China Joe ain't call that for nothing.

'Build Back China Better'

[cutter73]

11 hours ago, Luigi1 said:

 

China Joe ain't call that for nothing.

'Build Back China Better'

 

 

Wow @Luigi1 you pissed off someone speaking the truth and @pokerplayerdidn't get pegged...LOL  yeaj I walked into a pile 💩this morning so reading the funnies. 🤣

[md11fr8dawg]

9 minutes ago, cutter73 said:

Wow @Luigi1 you pissed off someone speaking the truth

Luigi didn't piss anyone off, Dementia Joe and his cockroach political party did. If you are American and don't get pissed about the deliberate and intentional destruction of the Greatest Country the world has ever seen, then I suggest you need some inner self reflection as to what would piss you off!

[cutter73]

26 minutes ago, md11fr8dawg said:

Luigi didn't piss anyone off, Dementia Joe and his cockroach political party did. If you are American and don't get pissed about the deliberate and intentional destruction of the Greatest Country the world has ever seen, then I suggest you need some inner self reflection as to what would piss you off!

 Oh I agree @md11fr8dawg

[Luigi1]

13 hours ago, pokerplayer said:

Biden just help speed up the demise of the US. Dollar. It's sad really. The US is such a wonderful country but to have an elected political party hell bent on destroying her is, well.... criminal for lack of a better way of saying it.

 

  pp

 

Here's another article related to above...

 

Luigi's view... Oh me oh my...what to do?  Canada province wants to become part of US & US wants to secede...become part of Canada...there is no place to run from liberalism...don't come to US if you are seeking freedoms from tyranny...there is none to be found, here...

 

FOX News: Separatists fed up with Trudeau want province to break away from Canada, become 51st state.

An advocacy group in Alberta, Canada, is trying to educate residents of the province about what it argues would be the benefits of breaking off from the country to join the U.S. as its 51st state.

"I find myself having an affinity toward the U.S. more than Canada because of the freedom, Constitution & just the entire republican system versus the monarchy here, which is really a pseudonym for dictatorship," a source with the Alberta 51 Project told Fox News Digital.

[Bandit795]

Biden's idiocy aside... The federal reserve dropping the reserve requirements on U.S. banks to 0% on March 26th 2020 and the corresponding inflation probably has an influence as well.

 

Because of the USD being a globally used currency, inflation rises just as fast or even faster than in the U.S. itself, which could be another reason why countries are ditching the USD. 

[Luigi1]

4 minutes ago, Bandit795 said:

Biden's idiocy aside... The federal reserve dropping the reserve requirements on U.S. banks to 0% on March 26th 2020 and the corresponding inflation probably has an influence as well.

 

Because of the USD being a globally used currency, inflation rises just as fast or even faster than in the U.S. itself, which could be another reason why countries are ditching the USD. 

 

Absolutely.  The US is exporting it's inflation all around the world.

OBiden's blinded policies don't only hurt the US.

[Bandit795]

5 minutes ago, Luigi1 said:

 

Absolutely.  The US is exporting it's inflation all around the world.

OBiden's blinded policies don't only hurt the US.

 

It's all presidents since the USD became the reserve currency though, not just those two. 

 

 

[Luigi1]

23 minutes ago, Bandit795 said:

 

It's all presidents since the USD became the reserve currency though, not just those two. 

 

 

 

Agree.  The process was only sped up in the last three years.

The Petrodollar collapse & US deficit has a lot to do with it.

[Luigi1]

2 hours ago, cutter73 said:

 

 

Wow @Luigi1 you pissed off someone speaking the truth and @pokerplayerdidn't get pegged...LOL  yeaj I walked into a pile 💩this morning so reading the funnies. 🤣

 

Who defunded-the-police?

Who financed, equipped & trained BLM-ANTIFA.

Who collapsed the US-Mexico Border?

Who's behind empty shelves & hyperinflation?

Who bumbled the failed Afghan withdrawal.

All the above are blamed on Trump.

Trump is not the president over the last three years.

[pokerplayer]

I don't think @cutter73 was being critical of you Luigi1,  just making an observation is all.

 

   pp

[T B]

way i see it Bidens a walking dead man , even with his own party!  keeep!!  your powder dry ! AND BE BLESSED! GOTTA GET NASTY FOR IT GETS BETTER! PRAISE GOD ! LETS DO THIS, I WONT BE HERE FOREVER MY  LORD!

[dinarham]

  The changes Iraq is making qualify as a paradigm shift ,a  profound change . Intrinsic to any big change is a period of confusion before the change is made .

[cutter73]

@pokerplayerYES!!!

 

@Luigi1I was just being funny after  walking into a cluster @#$%  LOL...All good I always thank you dear! 

[new york kevin]

Wait ! It ain't over yet. China is hurting just like the USA and many other countries. You don't hear about it because in China they have State controlled media outlets that control any and every narrative out there in China.  When you control, like a vice grip, finance, food, fuel , and flow of information, you control the people. So we need to fight strategically/legally against that becoming the norm here in the USA. As with this current administration who hold all main stream media propaganda machines in the tightest grip ever.

[ronscarpa]

Thanks Everyone for the stimulating conversation, and thanks to Luigi for starting it all ... RON An administration change could reverse "some" of the damage done..! 

Edited May 16, 2023 by ronscarpa

[dinarham]

  When I see something for sale  made in you know where , I put it down.

[dinarham]

1 hour ago, ronscarpa said:

Thanks Everyone for the stimulating conversation, and thanks to Luigi for starting it all ... RON An administration change could reverse "some" of the damage done..! 

     WHHAAATT ??? has it rv'ed ????

[new york kevin]

9 minutes ago, dinarham said:

  When I see something for sale  made in you know where , I put it down.

Me too. Mostly. Which is one reason I believe in the notion that we need to re-shore the manufacturing of all of our vital supplies (medical products, computer chips, etc), plus as much of the manufacturing that we can. Minimally it should relocate out of China. When all crashes, including the value of the USD, with the right minded President being elected in 2024 (Trump, DeSantis ???) The US will rise again in this new digital network economy we will find ourselves in. JMHO.

Edited May 16, 2023 by new york kevin

[Luigi1]

29 minutes ago, new york kevin said:

Me too. Mostly. Which is one reason I believe in the notion that we need to re-shore the manufacturing of all of our vital supplies (medical products, computer chips, etc), plus as much of the manufacturing that we can. Minimally it should relocate out of China. When all crashes, including the value of the USD, with the right minded President being elected in 2024 (Trump, DeSantis ???) The US will rise again in this new digital network economy we will find ourselves in. JMHO.

 

Agree.  China does not own the world, yet.

The USD is not dead,& buried.

The digital gold backed currencies, including the gold backed digital USD will change all that.

China notices US weaponry defeating Russia in Ukraine.

China can't help but to notice.

China must be re-thinking it's defeat of the US.

[md11fr8dawg]

No, the US isn't dead yet, but give it time and a few more years of Rat control and it is adios amigo!! And in the process we''ll keep China afloat.

 

https://www.naturalnews.com/042894_USDA_China_imports_chicken.html

Edited May 17, 2023 by md11fr8dawg

[new york kevin]

China notices US weaponry defeating Russia in Ukraine.  Remember how I mentioned that this POTUS administration has a tight grip on the media complex here in the US ? The narrative that US weaponry is defeating Russia in Ukraine is pure propaganda spread by our corrupt main stream media. Russia is winning the war in Ukraine hand over fist. Last night, Russian intel and forces used hypersonic missiles to bomb every site that stored our $80 billion in military aid. And no, you cannot shoot down hypersonic missiles with subsonic weaponry.  I am just waiting for China to invade Taiwan next.