The Chinese do not disclose information before they have everything in place to do something else. For the President to say the dollar is the international currency of the past, must mean they have already set up what they need to to drop the dollar.
I don't know if people realize the full implications of his statement, especially as this is upon him visiting the United States. Saying what he did as he is about to step on U.S. soil, is a stab right into the guts of the U.S.. Visiting dignitaries do not normally say something negative about a country before they visit as that causes problematic discussions. Especially saying the dollar is at it's end, is almost a declaration of war.
Remember we went into Iraq, for the real reason of Hussein was dropping the dollar to sell oil in Euros, the U.S. had to preserve the dollar as the oil trading currency, besides of course the U.S. wanting to get a hold of the oil there.
Portions from article:
BEIJING—Chinese President Hu Jintao emphasized the need for cooperation with the U.S. in areas from new energy to space ahead of his visit to Washington this week, but he called the present U.S. dollar-dominated currency system a "product of the past" and highlighted moves to turn the yuan into a global currency.
Some of Mr. Hu's most significant comments dealt with the future of the dollar and currency exchange rates. "The current international currency system is the product of the past," he said, noting the primacy of the U.S. dollar as a reserve currency and its use in international trade and investment.
I expect to hear a whirlwind of information of how multiple countries have already made agreements of trading between them with currencies other than the dollar.
Please understand this is Huge news - this is going to impact all of us in every way! Inflation has been kept somewhat low (no hyperinflation, as of yet), due to the dollar being the international currency, but as countries drop it..... well it will be free to run up and hyperinflation will be set loose, as the Trillions being created by the Federal Reserve flood the world.
Will the owners of this Web Blog help put forward this boycott,
ReplyDeleteI find this to be a big ooopps !
Clearly this man does not have a clue of what the American People is all about. So Hey there Mr. Hu Jintao, and welcome to America. You see only Government Officials, and do not see The People, which is The Government and you talk only to our Employees. So seeing how you show no respect to Us as a People. I hope that I am the First to bring forward a 100% Boycott against every China Made Product in the U.S.A.. I will never buy your items again.
You doubt my words, well Sir have you heard of the International Boycott Of The Arabic Drug Empire ? I didnt think so, but I assure is it swiping the Internet in a goal put together by a dyslectic man.
You sir do not have a clue of the resolve of the American People. I guess you could say you put your foot into your own mouth.
Henry Massingale Founder and Director of Fasc Concepts in and for Pay It Forward covers the web post on google Drop by and see why we built a anti crime / war forum in a Health Care Reform Concept. To strategically Rebuild America www.fascmovement.mysite.com on google look for page 1 american dream official site