President of China - Hu Jintao, Says Dollar Domination as International Currency is A thing of the PAST!

For the Chinese President Hu Jintao, to say the dollar domination as the International Currency is a thing of the past, must mean they have everything in place to withdraw from the dollar. 

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.

There is already trade in place between Russia and China using the Yuan, it was firmly established late last year, the two countries dropped the dollar completely  as the trading currency.   India is now trading with Iran in gold for oil, that is just taking place now.  The Asian countries had begun trading in the Yuan last year between each other.  South American countries had begun trading in their various currencies between each other in 2009.   The Chinese had continued to say "They will keep the dollar for trading"  the last 2 years, whenever they were asked about the dollar.  So, for the top person of China is now say "The dollar is at it's end", that means it IS now at it's end.

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.