October 15, 2013
The Chinese state-funded new outlet Xinhua has called for a “de-Americanized world” to overcome the influence the US budget and possible default will have on the global economy.
Xinhua proposes a new international reserve currency (IRC) to replace US dollar as the global reserve currency (GRC).
The media agency said: “The cyclical stagnation in Washington for a viable bipartisan solution over a federal budget and an approval for raising the debt ceiling has again left many nations’ tremendous dollar assets in jeopardy and the international community highly agonized. The world is still crawling its way out of an economic disaster thanks to the voracious Wall Street elites.”
Xinhua acknowledges that toppling the US dollar cannot accomplish the goal of destroying its perceived power.
It is suggested that: “Several cornerstones should be laid to underpin a de-Americanized world.”
The destruction of the US dollar would open up developing-market economies to both the World Bank and International Monetary Fund, “the authority of the United Nations in handling global hot-spot issues has to be recognized. That means no one has the right to wage any form of military action against others without a UN mandate. . . . A self-serving Washington has abused its superpower status and introduced even more chaos into the world by shifting financial risks overseas, instigating regional tensions amid territorial disputes, and fighting unwarranted wars under the cover of outright lies.”
The article points out: “Such alarming days when the destinies of others are in the hands of a hypocritical nation have to be terminated, and a new world order should be put in place, according to which all nations, big or small, poor or rich, can have their key interests respected and protected on an equal footing.”
This is the 2nd time a Chinese entity has called for an IRC.
Zhow Xiaochuan, the governor of the People’s Bank of China (PBC), the nation’s central bank, suggested that the world needed a “super-sovereign reserve currency” with a goal to “create an international reserve currency that is disconnected from individual nations and is able to remain stable in the long run.”
China, being part of the BRICs nations, has been purchasing gold to back up the yen while deciding to not accept the US dollar as the GRC.
The BRICs countries are pushing for a global gold standard that will alleviate the inflation caused by fiat currency. The major economies of the world are facing an estimated $7.5 trillion in bond payments, which is how the central banking cartels keep their Ponzi scheme afloat.
April of 2012 marked a new direction for the BRICs countries as they ended their summit in New Delhi, India with talks of moving away from the US dollar as the global reserve currency.
Brazil, Russia, India, China and South Africa are the emerging economies of the world. The G5 countries in counter ignore their movement toward better trade, ceasing the destruction of our planet and the end of slavery through debt.
One suggestion placed on the table was to bailout Europe from the clutches of the central banking system. A BRICs basket currency was discussed to allow non-aligned countries to trade with each other without the fears that the central banks and their fiat currency entail. This would serve as an alternative to the US dollar and the Euro. It would empower other nations to rise up economically.
The BRICs countries signed an agreement to give our loans in their respective currencies in a further effort to move away from the US dollar and Euro. A joint BRICs bank was discussed with vigor. It would serve as an alternative to central banks that abuse their power at the expense of nations worldwide. They hope to replace the International Monetary Fund and the World Bank.
Over 180 countries have signed onto the BRICs agreement as evidenced in their declaration. While the global Elite still hold power over the G5 countries, the rest of the world is standing up, severing their ties and making plans for a new world without them.
Earlier this year, the BRCs nations met for their 5th BRICs Summit in Durban, South Africa later this month to discuss multilateral business projects, investment cooperation between nations and trade.
BRICs want to restructure global economics through relations and a return to the gold standard; replacing the US dollar as the global reserve currency.
BRICs will implement a Business Council at their next scheduled summit while furthering plans to meld economic policy for the new geopolitical landscape forming.
Russian President Vladimir Putin explains that BRICs “countries seek to help the world economy achieve stable and self-sustaining growth and reform the international financial and economic architecture. Our major task is to find ways to accelerate global development encourage flows of capital in real economy and increase employment.”
As of mid-2013, the Chinese Yuan has been growing in strength on the global market to become the 3rd strongest currency traded by 2015, according to HSBC.
Patrick Young of Derivatives Vision explains: “The hermit is ready to come out of its shell and the sooner the better for China to play a major role in the global economy. The Yuan will take its place as a leading global currency; it is not likely to challenge the dollar’s hegemony for some time.”
Young goes on: “The world’s reserve currencies are distributing away from dollar centrality to a broader spread of currencies. To that end the Yuan and indeed the rouble are all likely to take a greater share of global reserves as indeed the economic power of the east expands.”
The worth of the Yuan is considered a trend that will continue because of global demand for reserve currencies that diversify the market and create a semblance of stability.
Because of the controlled demolition in the Eurozone, simple movements toward economic foundations that do not cause complex problems are seen as palatable.
This movement toward replacing the US dollar as the global reserve currency is not arbitrary. As a member of the BRICs nations, China is setting the stage for the world using Yuan instead of dollars.