Tuesday, January 29, 2013

Chinese News Article: Crossborder Yuan Loans - "Before it becomes a Global RESERVE Currency."


Update -1/30/13 - IMF Confirms Yuan a Global Reserve Currency

It is the first time I am seeing the words from China that comes right out and says what the plans for the Yuan is.

The first batch of cross-border yuan loans agreements were signed on Monday after thecentral government approved the Qianhai area in Shenzhen to test a freer yuan before it becomes a global reserve currency.
 As the loans come from Hong Kong, the move is a test offurther capital accounts opening by allowing offshore funds tobe transferred to the mainland.
Previouslyoffshore yuan could flow back to the mainland onlythrough yuan-denominated trade and renminbi qualified foreigninstitutional investors.He added that the yuan is marching gradually and steadily toward becoming a global currency,and he expects more breakthroughs on that front this year.



They have never said "Global Reserve Currency" before.  They have said "Convertible currency" and other words.

China has actually imported more gold and silver than they admit to.  They imported an estimated 1000 tons of gold over the last few years but experts believe it was much more than that.   They have also been importing silver in major quantities that are not being revealed.  I read a story the other day about someone in China trying to buy silver and gold bullion but the place was nuts with crowds all trying to buy the gold and silver the dealer had just gotten.

Kingworld News has an article about China being a gold backed currency.

Jim Willie did an interview last week and he mentioned that China was going to take it slow and not be totally overt in becoming the Global currency because they don't want the U.S. to start a war for some made up reason against china.

Mining.com has the rumor China plans on importing 5000 to 6000 tons of gold this year (article from 2012). 

unconfirmed speculation" that China – the world's number one producer and second-placed consumer (at the moment) – is gearing up to buy up to at least 5,000 to 6,000 tonnes starting before the end of the year.


Silver is huge in China too.  There has been a lot of talk in the "silver world" saying there is a major shortage.  Besides the fact that the 2013 Eagles sales have been suspended due to over 5 million orders in the first few days of 2013.   The majority of silver mined is used for industrial purposes and it seems there is a shortage happening.

The writing is on the wall.  China plans on having a Gold backed Global Reserve Currency.  I have written about the agreements China has with other countries and has already began trading in Yuan instead of dollars.  The BRICS began those trades last year.  The only thing that is keeping the dollar as the "reserve currency" right now is because it is the "Petrol Dollar."   Saudi Arabia is the reason the dollar is still the oil trading currency.  Is it any wonder that Obama bows to the King of Saudi Arabia as the U.S. is obviously beholden to them otherwise it would not still be the official reserve currency of the world.

Once Saudi Arabia decides to go with the rest of the world and begins using other currencies for oil as India, Iran, Russia and China already do.... it will be game over for the dollar.

Obviously the day is getting closer since the article says "Global Reserve Currency" from China Daily.  Again they have never used those words before from what I have seen.  They have used "Global convertible currency."  Remember China purchased the London Metals exchange last year, which began using the Yuan and the CME began added the Yuan as a trading currency last year too 

China holds things very close to their chest in information and they don't put information out normally until deals are done.  So with them allowing "Global Reserve Currency" words out, what deals have been done already and how fast will it all go down and the dollar with it?

Some of my favorite metals sites are: David Morgan of Silver-Investor always has great information about Silver and what is really going on.   I go to Gata, Got Gold Report , and 24 hour Gold for the latest in gold information.

Few probably are aware of this, but long time subscribers to The Morgan Report (TMR) were notified that a meeting had taken place in South East Asia roughly a decade ago discussing -- you guessed it --A GOLD BACKED YUAN.
Most people in the West do not understand the Chinese mind set of looking out several generations, 



Edit to add:   I found another article today on the same Chinese News site - Their frustration with the dollar titled "The Unloved Dollar"

But the dollar's role as international anchor is beginning to falter, as emerging markets everywhere grow increasingly frustrated by the Fed's near-zero interest-rate policy, which has caused a flood of "hot" capital inflows from the United States. That, in turn, has fueled sharp exchange-rate appreciation and a loss of international competitiveness - unless the affected central banks intervene to buy dollars.
Wow - they have really put out information now as I have never seen before and the two articles being out on the same day...... says something is already happening, we just don't know the full extent yet.  But I have a feeling since they have come right out and said "Reserve Currency" and "Unloved Dollar" whatever the changes of Currency will happen this year.

Update - 1/29/13  - David Morgan of Silver Investor allowed me to interview him today about this subject, the silver shortage and Germany and their gold.


4 comments:

  1. Since the 9/11 (inside job/Muslim boogie-man) America's (Israel/city of London) foreign policy (AFRICOM) has been about disrupting and supplanting Chinese advances in trade through out Africa and the world.

    However, at the same time, the banking cartel (The Fed/City of London) sells billions of Treasury bills to China, which has created a huge unsustainable budget deficit as the a result of the US military fighting...China. But, the massive holding os US Treasury's give China de facto control over US monetary policy, inflation, jobs, foreign debt, and even the US standard of living.

    Meanwhile, US-based global transnational corporations are out-sourcing US jobs to China that, along with the banking/LIBOR fraud, and corporate bail-outs, GM moving its manufacturing to China, have resulted in cuts to the social safety net, destroying the American middle-class.

    Further, the US military is being destroyed in the central Asian "graveyard of empires", and US veterans are being treated like garbage. while replacement parts used in the US military machines are being counterfeited in China. To make matters worse, in the wake of the contrived economic debacle, America is selling off its infrastructure to...China?

    After 12 years of the eternal war-on-terror™, the 9/11 pretext to invade Afghanistan, to steal its resources and re-energize the drug trade, China is now being allowed to extract oil in Afghanistan and Iraq?

    Finally, because of the deliberate financial policies of the Federal Reserve, those fanned the flames of the so-called War on Terror®, subsidized by China buying Treasury bills, the dollar is being destroyed and the Yuan is becoming the de facto reserve currency of the world.

    Can someone tell me that this does not add up to a plan to destroy America? Destroy its economy and democratic institutions, and subordinate our country to a globalist totalitarian NWO?

    ReplyDelete
  2. Uhhh. . . it is impossible to destroy our "Democracy" because we are actually a Constitutional *Republic*. Recite the Pledge of Allegiance. . . We don't say, "And to the Democracy for which it stands. . ." We say, "And to the REPUBLIC for which it stands. . ."
    The rest of your comment rings, though!

    ReplyDelete
  3. just think it is a example, i think everyone should have their own opinion. http://www.topgw2gold.com/


    ReplyDelete

Thank you for commenting. I moderate the comments due to a mass amount of spam, even though there is a word verification needed. I also moderate them due to some very foul and violent comments at times. Thank you for understanding. I am not at the computer constantly so sometimes it takes a little longer for the comment to show up. I appreciate hearing from you and you adding your voice to the conversation. Sherrie