Zero Hedge: “The talk is even growing within mainstream circles that China is about to decouple from the U.S. economy and, along with the BRICS nations, structure a new Asian-centric financial system that will “stick it” to the Western financial elites. This, however, is too simplistic a notion.
We are talking about the REAL economy in this series; and in the real economy, no nation with a central bank actually “breaks” from the New World Order. In fact, all conflicts between the East and West are only serving to further the cause of globalists and Fabian socialists.
China alone does not have the capacity to replace the U.S. as a primary driver for the global economy, nor does the Yuan have the capacity to replace the dollar as a world reserve currency. However, this is not China’s goal. It never has been China’s goal. China’s only purpose in its historic fiscal expansion has been to achieve inclusion in what the IMF calls the “global economic reset.” Part of this reset is the introduction of the IMF global currency basket system, or Special Drawing Rights (SDR), as a kind of centralized control mechanism for all currencies around the world. The IMF and China have continuously called for the SDR basket system to replace the U.S. dollar as the world reserve currency.”
Opinion: I agree and said so in the book: Fiction? you tell me.
“An economic meeting convened with top administration officials, including former Obama economic advisor Larry Summers, Federal Reserve chairman Janet Yellen, and CIA head John Brennan. This special session was chaired by the current Treasury secretary, Jack Lew.
As the top-secret meeting got under way, John Brennan had disturbing news to share. He informed the group that there was urgent intel from our people on the ground in the Far East. China was about to make a move with support from Japan, Russia, and the European Union to dump the dollar as the world reserve currency. They planned to institute the renminbi, either alone or as part of a basket of currencies called Special Drawing Rights (SDRs), which would include the euro and the yen.
Brennan told the cabinet that China had been buying large amounts of gold for the past five years in an effort to build global confidence in the Chinese currency. Their aim was to make the renminbi the de facto reserve currency and to increase global influence.
China had been building support from Australia and Brazil since 2013 by enacting currency swaps to enable the direct convertibility of their currencies into Chinese renminbi, without US dollar intermediation.”
Yes Virginia, I know I posted the same excerpt last week.