A new world monetary system is being set up right now which will completely kill the US dollar, which is the world's reserve currency.
23 countries (60% of the world's GDP) are setting up swap lines which bypass the dollar and SWIFT, which is the dollar-based worldwide financial transaction system.
These countries include Russia, China, India, and even Germany, France, and the United Kingdom.
Once the new system is in place, our dollar won't be needed in these countries and a new reserve currency will come into being. All those dollars in foreign accounts will come home, which will annihilate our monetary system.
Also, China just announced that it will stop purchasing our debt (holding dollars in reserve). This will force The Federal Reserve to print even more dollars than the $85 billion it's currently printing.
World reserve currencies have always had a limited life span and ours is up.
Historically, new world reserve currencies are backed by gold.
Prices just dropped on gold and silver. NOW it the time to buy! Protect your wealth my friends.
For several years, financial analysts, primarily those outside the mainstream of academia, have been warning that any day could be the black swan event that collapses the dollar, and ends U.S. hegemony as caretaker of the world's reserve currency. That day has finally arrived as on Nov. 18, a former head trader for a major financial institution issued a harbinger and stated that 23 countries, and 60% of the world's GDP, are right now setting up new swap lines which bypass the dollar, SWIFT, and the BIS, and will usher in a new global currency system which will kill the dollar.
The thoughts that are put into the minds of men that are aware of what is occurring on trading floors all over the world is when? When is also the question that I get asked about quite often by thousands of people. So what is the “when”? The “when” is what is the sure sign that this fraudulent sham that we call an economy is over? Folks the biggest sign is when those that trade in the dollar to acquire goods, no longer want the worthless paper because of US “bully” policies or they have totally lost faith in the US as a responsible steward of it’s currency and economy. That day has arrived.
All over the world economies that have not totally shot themselves in the foot by gambling in the Anglo-American casino are now moving to set up various currency exchanges by passing the dollar. – Rogue Money via Steve Quayle Q Alerts
The list of the 23 countries which are creating new swap lines outside of the dollar include China, Russia, India, and surprisingly, Germany, France, and the United Kingdom. This means that the Eurozone itself is abandoning the dollar, and preparing for transition to a new central banking system.
To facilitate the transfer of currencies and swap lines, there needs to be a bank of sufficient size and stature to aid in handling of this monumental task. One year ago, China, along with the BRICs nations of Brazil, Russia, India and South Africa, loaned money to a new financial institution they established and labeled the BRICs bank. This bank was created with the intention of bypassing the dollar, and allowing free trade to occur between nations without the need to trade for dollars first, as is currently the format under the petrodollar system. In fact, the new BRICs bank will function both as a bank of international settlement, as well as a lender of last resort, eliminating the need for the BIS and IMF, which currently reside under dollar dominion.
The only thing that stands in the way of the world's final rejection of the dollar is the wavering trust that Saudi Arabia and OPEC have with the U.S. in assuring oil transactions remain denominated in dollars under the 1970's Petrodollar agreement. But as the world has seen recently, even the Saudi kingdom is hedging towards a new global system, and has publicly stated that their ties to the U.S. are open for re-negotiation.
What started in September of last year, when an agreement between China and Russia ended the dollar's stranglehold over oil and how it was purchased, the past 14 months have seen a momentous rush towards setting up the infrastructure to replace the dollar completely in global transactions. And with 23 countries, including those from the BRICs nations and the Eurozone, preparing for new swap lines outside of dollar hegemony, the fuse has been lit on the dollar's death rattle, and the when has changed into the now.
yes so crypto currencies may come into play,, especially the block chain,,, which will bring transparency to financial services,, they just need to become safe ,where they cannot be stolen.. and also transactions need to be transparent.. no black market , or corporate crime
bitcoin under the same asset class as gold ,, a commodity but crypto is also a monetary and currency system. // interesting times ahead..
i think one day we will evolve to the point where value will not be money but something else..
like star treck where humans work for the betterment of science and evolution, nature etc.
destruction of the current system has to come first
it’s interesting how many idiots have posted their texts here. I love the one where people say America was built on immigration! Well, they’re right! But they are failing to recognize the fact that in the past the immigrants went through the legal process and like today where they just crossed into our country illegally! Why did you try sneaking into Canada and see how that works out for you? Why did you try sneaking into any country and see how that works out for you ! No offense but I have to call you in idiot because I called them as I see them. Idiots on the left want open borders! Allowing anyone to come through? I just wish people had common sense and could figure this s**t out! That’s the problem with America today! Too many leftist idealist that really have a failed clue on just about everything… OMG! What am I thinking? This is it really important at all… The important factThis pronouns! We need to worry about pronouns! Dear God! Is there any hope for us at all?
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The best thing that can and should be done to the U.S. is to vaporize it with thermo-nuclear devices!!!
Reliable source this story is .when there no author to a story its bs . 23 countries and they named how many .hmm