WUC NEWS: Dollar

UN wants new global currency to replace dollar

TheWake UpCall 0 Dollar, UN 11:52 PM

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<span style="background-color: white; font-family: Arial, Helvetica, sans-serif;">In a radical report, the UN Conference on Trade and Development (UNCTAD) has said the system of currencies and capital rules which binds the world economy is not working properly, and was largely responsible for the financial and economic crises.<br><br>It added that the present system, under which the dollar acts as the <a href="http://www.telegraph.co.uk/finance/financetopics/financialcrisis/5325805/Chinas-yuan-set-to-usurp-US-dollar-as-worlds-reserve-currency.html">world's reserve currency</a> , should be subject to a wholesale reconsideration.</span><div>

UN wants new global currency to replace dollar

In a radical report, the UN Conference on Trade and Development (UNCTAD) has said the system of currencies and capital rules which binds ...

Russia, China sign deal to bypass US dollar

TheWake UpCall 0 China, Dollar, Russia 9:11 AM

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<span style="background-color: white; font-family: Arial, Helvetica, sans-serif;">In a symbolic blow to U.S. global financial hegemony, Russia and China took a small step toward undercutting the domination of the U.S. dollar as the international reserve currency on Tuesday when Russia’s second biggest financial institution, VTB, signed a deal with the Bank of China to bypass the dollar and pay each other in domestic currencies.<br><br>The so-called Agreement on Cooperation — signed in the presence of Chinese President Xi Jinping and Russian President Vladimir Putin, who is on a visit to Shanghai — was followed by the long-awaited announcement on Wednesday of a massive natural gas deal 10 years in the making.</span><div>
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Russia, China sign deal to bypass US dollar

In a symbolic blow to U.S. global financial hegemony, Russia and China took a small step toward undercutting the domination of the U.S. dol...

Russia to Pass a Law Formally Dumping the U.S. Dollar

TheWake UpCall 0 Dollar, Russia, USA 8:35 PM

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<span style="background-color: white; font-family: Arial, Helvetica, sans-serif;">Russian President Vladimir Putin has introduced legislation that would deal a tremendous blow to the U.S. dollar.  <br><br>by <a href="http://theeconomiccollapseblog.com/archives/russia-is-going-to-pass-a-law-formally-dumping-the-u-s-dollar">Michael Snyder</a><br><br>If Putin gets his way, and he almost certainly will, the U.S. dollar will be eliminated from trade between nations that belong to the Commonwealth of Independent States.  <br><br>In addition to Russia, that list of countries includes Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Tajikistan and Uzbekistan.  <br><br>Obviously this would not mean “the death of the dollar”, but it would be a very significant step toward the end of the era of the absolute dominance of the U.S. dollar.<br>

Russia to Pass a Law Formally Dumping the U.S. Dollar

Russian President Vladimir Putin has introduced legislation that would deal a tremendous blow to the U.S. dollar. by Michael Snyder If Put...

What Will Happen To You When The Dollar Collapses?

TheWake UpCall 0 Dollar, Economic Collapse, Money 4:23 PM

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<span style="background-color: white; font-family: Arial, Helvetica, sans-serif;">Historically, when a nation’s debt exceeds its ability to repay even the interest, it can be assumed that the currency will collapse. Typically, governments exacerbate the situation by printing large amounts of currency notes in an effort to inflate the problem away, or at least postpone it.<br><br>The greater the level of debt, the more dramatic the inflation must be to counter it. The more dramatic the inflation, the greater the danger that hyperinflation will take place. No government has ever been able to control hyperinflation. If it occurs, it does so quickly and always ends with a crash.</span><div>
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What Will Happen To You When The Dollar Collapses?

Historically, when a nation’s debt exceeds its ability to repay even the interest, it can be assumed that the currency will collapse. Typic...

Petrodollar Under Threat As Russia And Iran Sign Historic 500,000 Barrel A Day Oil Deal

milevski 0 Dollar, Iran, Money, oil, Russia 9:02 PM

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<span style="background-color: white; font-family: Arial, Helvetica, sans-serif;"><span style="vertical-align: baseline; white-space: pre-wrap;">Russia signed a historic $20 billion oil deal with Iran to bypass both western sanctions and the dollar based western monetary system yesterday. </span><span style="vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break"></span><span style="vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break"></span><span style="vertical-align: baseline; white-space: pre-wrap;"><img alt="Putin Russia Gold Bar.png" height="469px;" src="https://lh3.googleusercontent.com/eYTcOoniiFIp6T-b9AJ27MnX48W6dGM39Ol46hFEJBOhNQKgd2SYYpERFqD4py_6Y3q37TXqFuqrggZlaP5uxfqluMPKXHOg683VrVDcNJuFHC7-IGYxLm1KzfwqzjuHow" style="border: none; height: auto; max-width: 100%; transform: rotate(0rad);" width="624px;"></span><span style="font-style: italic; font-weight: bold; vertical-align: baseline; white-space: pre-wrap;">President Putin Admire Gold Bar (London Gold Delivery Bar)</span></span></div>
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Petrodollar Under Threat As Russia And Iran Sign Historic 500,000 Barrel A Day Oil Deal

Russia signed a historic $20 billion oil deal with Iran to bypass both western sanctions and the dollar based western monetary system yest...

Dollar Dump Begins: Russia Unloads 20% Of Its Total U.S. Holdings In ONE Month

TheWake UpCall 0 Dollar, Russia 12:22 PM

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<span style="background-color: white; font-family: Arial, Helvetica, sans-serif;">Earlier this week John Williams warned that <a href="http://www.shtfplan.com/headline-news/hyperinflation-to-start-in-2015-economist-says-get-supplies-gold-silver-canned-goods-toilet-paper-bottled-water_02192015" target="_blank">hyperinflation will begin to appear in America</a> sometime in 2015. He noted that, though the dollar is currently strong compared to other fiat money, signs that a currency collapse is coming will begin with the sell-off of the U.S. dollar.</span><br>
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<span style="background-color: white; font-family: Arial, Helvetica, sans-serif;">It’s a known fact that the Russians and Chinese have already begun divesting themselves of dollar dependency by implementing trade agreements that completely sidestep the world’s reserve currency, but there has been no overt sign of a sell-off that might be indicative of a coming attack on our currency.</span><br>
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Dollar Dump Begins: Russia Unloads 20% Of Its Total U.S. Holdings In ONE Month

Earlier this week John Williams warned that hyperinflation will begin to appear in America sometime in 2015. He noted that, though the do...

Man Arrested After Trying To Pay Taxes With $1 Bills

TheWake UpCall 1 Dollar 10:55 AM

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<span style="font-family: Arial, Helvetica, sans-serif;">A man was arrested while he was attempting to pay his property taxes in $1 bills. According to the police report, 27-year-old Timothy Andrew Norris attempted to pay $600 worth of property taxes in intricately folded one dollar bills.<br><br>The tax officials refused the payment because it would make their job more difficult. Norris was then asked to leave by a police officer who was at the office.</span><div>
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Man Arrested After Trying To Pay Taxes With $1 Bills

A man was arrested while he was attempting to pay his property taxes in $1 bills. According to the police report, 27-year-old Timothy Andre...

Ditching US dollar: China, Russia launch financial tools in local currencies

TheWake UpCall 0 China, Dollar, Russia 7:44 PM

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<span style="background-color: white; font-family: Arial, Helvetica, sans-serif;">China and Russia have effectively switched to domestic currencies in trading using financial tools as swaps and forwards, as they seek to reduce the influence of the US dollar and foreign exchange risks.</span></div>
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<span style="background-color: white; font-family: Arial, Helvetica, sans-serif;">The agreement signed in the end of October comes into force Monday, December 29, and provides a currency swap of CNY150 billion (up to US$25 billion).</span></div>
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Ditching US dollar: China, Russia launch financial tools in local currencies

China and Russia have effectively switched to domestic currencies in trading using financial tools as swaps and forwards, as they seek to ...

The dollar is headed for collapse – 599 failed paper currencies in world history prove it

TheWake UpCall 0 Currency, Dollar, Economic Collapse 9:35 AM

The dollar is headed for collapse – 599 failed paper currencies in world history prove it

For centuries, the British Pound was the world’s reserve currency, because it was consider to be the strongest of all currencies. That ...

Rising dollar major threat to global economy

TheWake UpCall 0 Dollar 10:42 AM

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<span style="background-color: white; font-family: Arial, Helvetica, sans-serif;">The durability of the dollar isn’t a given, and pressure in the $12.3 trillion US Treasury market is causing alarm. A study by the Bank for International Settlements (BIS) suggests dollar dominance could spell disaster for emerging markets.</span></div>
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<span style="background-color: white; font-family: Arial, Helvetica, sans-serif;">The spectacular recovery by the US dollar could ruin emerging market economies that have large dollar-denominated debts, which in turn could trigger chaos in the global financial markets, the Swiss-based global watchdog said.</span></div>
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Rising dollar major threat to global economy

The durability of the dollar isn’t a given, and pressure in the $12.3 trillion US Treasury market is causing alarm. A study by the Bank f...

Dollar’s sudden strength occurring as a sign the world is rejecting reserve currency

TheWake UpCall 0 Dollar 4:19 PM

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<span style="background-color: white; font-family: Arial, Helvetica, sans-serif;">Approximately three months ago, the dollar began a massive rise in relation to other global currencies, with its value gaining more than 675 bps on the charts.  Closing out on Friday, Oct. 3 around 86.64, this is the highest the dollar has been since the middle of 2010 when the Federal Reserve began its first round of Quantitative Easing, and Europe was enmeshed in a <a href="http://www.nytimes.com/2010/11/30/business/global/30views.html?_r=0" style="-webkit-transition: background-color 0.2s linear, color 0.2s linear; background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; margin: 0px; outline: none 0px; padding: 0px; text-decoration: none; transition: background-color 0.2s linear, color 0.2s linear; vertical-align: baseline;" target="_blank">liquidity crisis</a>.</span></div>
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Dollar’s sudden strength occurring as a sign the world is rejecting reserve currency

Approximately three months ago, the dollar began a massive rise in relation to other global currencies, with its value gaining more than 6...

Court Rules Against Atheist Who Sought to Remove ‘In God We Trust’ From U.S. Currency

TheWake UpCall 0 Dollar, Lucifer 11:23 AM

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<span style="background-color: white; font-family: Arial, Helvetica, sans-serif;">This is very stupid. Because most of the sheeple don't know that "god" on the dollar bill stands for Lucifer the god of Freemasons founding fathers of USA. Yes sheeple secret societies rule this world and word god on the dollar bill stands for their god not the God of the Bible. Wake Up.</span><br>
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<span style="background-color: white; font-family: Arial, Helvetica, sans-serif;"> A federal appeals court has ruled against a prominent atheist and his quest to remove the motto ‘In God We Trust’ from American currency.</span></div>
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<span style="background-color: white; font-family: Arial, Helvetica, sans-serif;"><a href="http://christiannews.net/2013/03/15/atheist-group-sues-u-s-government-demanding-in-god-we-trust-be-removed-from-currency/" style="border: 0px; font-style: inherit; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline;" target="_blank">As previously reported</a>, atheist Michael Newdow, who has filed numerous suits challenging the mixture of God and government, submitted a complaint in the Southern District of New York in March 2013, asserting that the motto violates the Establishment Clause of the United States Constitution as it serves to proselytize unbelievers.</span></div>
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Court Rules Against Atheist Who Sought to Remove ‘In God We Trust’ From U.S. Currency

This is very stupid. Because most of the sheeple don't know that "god" on the dollar bill stands for Lucifer the god of Freem...

Russian Dollar Dump Could Crash Financial System

TheWake UpCall 0 Dollar, Economic Collapse, Russia 6:32 AM

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<span style="color: black; font-family: Arial, Helvetica, sans-serif; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit;">Economist John Williams says if Russia sells its U.S. dollar holdings, it could trigger hyperinflation.  Could it collapse the financial system?  Williams contends, “Yes, it certainly has a potential to do that.  Looking outside the United States, there is something over $16 trillion in cash, or near cash.  That’s about the same size as our GDP.  . . Nobody has wanted to hold the dollar for some time.  The dollar, fundamentally, is weak.  It couldn’t be weaker.  All the major factors are against it.  It’s just a matter of what would trigger the massive selling.  Nobody wants to hold it.  The Russians start selling, and you have China indicating a general alliance here in terms of what’s transpiring.  If the rest of the world believes this is what’s going to happen, people who have been wanting to get out of the dollar for some time very easily could front-run the Russians.  The scare is on.  People will try to get out of it as rapidly as they can. </span><br>
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Russian Dollar Dump Could Crash Financial System

Economist John Williams says if Russia sells its U.S. dollar holdings, it could trigger hyperinflation. Could it collapse the financial s...

Experts Warning of Coming Global Financial Meltdown

TheWake UpCall 0 Dollar, Economic Collapse 5:17 AM

<span style="background-color: white; font-family: Arial, Helvetica, sans-serif;">This all is starting to make a lot of sense now. In the  last <a href="http://worldtruth.tv/a-man-who-jumped-from-the-jp-morgan-building-in-hong-kong-this-week-becomes-the-8th-banker-to-die-mysteriously-this-month/">month there has been 8 mysterious death of 8 bankers across the globe. </a> Maybe they knew something and were trying to warn others before its too late.<br><br>From Bank of America’s head of global technical strategy <a href="http://www.ibtimes.co.uk/us-dollar-trouble-warns-bank-americas-macneil-curry-1436753">warning</a> that the U.S. dollar is in serious trouble, to Capitol One’s unprecedented <a href="http://www.latimes.com/business/la-fi-lazarus-20140218,0,2211926.column#ixzz2tgzIBAIj">policy change</a> where they will now show up at Credit Card users homes to collect on debts, it seems even the big banks are going into panic mode.</span><div class="separator" style="clear: both; text-align: center;">
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Experts Warning of Coming Global Financial Meltdown

This all is starting to make a lot of sense now. In the last month there has been 8 mysterious death of 8 bankers across the globe. Maybe ...

Bank Of America Warns "The US Dollar Is In Trouble"

TheWake UpCall 0 Bank of America, Banks, Dollar, Economic Collapse 4:14 PM

Bank Of America Warns "The US Dollar Is In Trouble"

Global financial and commodity markets are warning that the US Dollar is in for a bout of trouble, warns BofAML's Macneil Curry. Across...

Billionaire George Soros doubles his bet that the market is heading for a crash

TheWake UpCall 1 Dollar, Economic Collapse, Soros 12:23 PM

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<span style="font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 24px;"> Soros doubles a bearish bet on the S&P 500, to the tune of $1.3 billion</span></span></div>
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<span style="background-color: white; font-family: Arial, Helvetica, sans-serif;">Within Friday’s 13F filings news was the revelation that the firm, founded by legendary investor George Soros, increased a put position on the S&P 500 ETF   <span class="quotePeekContainer" style="display: inline-block; position: relative;"><span class="quotepeekbase bgQuote down" id="quote2a9459e6ef58df51c90983da3928f9301de4dd5d" style="border-bottom-left-radius: 3px; border-bottom-right-radius: 3px; border-top-left-radius: 3px; border-top-right-radius: 3px; border: 1px solid rgb(251, 189, 189); display: inline-block; line-height: 14px; padding: 0px 3px 1px; position: relative;"><a href="http://marketwatch.com/investing/stock/SPY" style="outline: none; text-decoration: none;"><span class="symbol" style="display: inline-block;">SPY</span> <span class="data bgPercentChange symbol" style="display: inline-block;">-0.20%</span></a></span></span> by a whopping 154% in the fourth quarter, compared with the third. (A put or short position basically gives the owner the right to sell a security at a set price for a limited time, and in making such a bet, an investor generally believes the security is going to decline.)</span><br>
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Billionaire George Soros doubles his bet that the market is heading for a crash

Soros doubles a bearish bet on the S&P 500, to the tune of $1.3 billion Within Friday’s 13F filings news was the revelation tha...

6th. Banker Dead: JPMorgan’s Executive Director Of Global Equities Ryan Crane.

TheWake UpCall 0 Bankers, Banks, Dollar, Economic Collapse, Economy, JP Morgan, Money 1:23 PM

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<span style="background-color: white; font-family: Arial, Helvetica, sans-serif;">Another JP Morgan banker has been found dead, as Ryan Henry Crane, the Executive Director in JPMorgan’s Global Equities Group was found dead in his Stamford Ct home Monday at the age of 37.</span></div>
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<span style="background-color: white; font-family: Arial, Helvetica, sans-serif;">While there is no official word yet as to the cause of death, Crane’s death follows last week’s “suicide” of another JPMorgan banker in London (which is now under investigation by London police), and follows <a href="http://www.silverdoctors.com/5th-financial-executive-in-past-week-found-dead-as-ceo-found-with-self-inflicted-nail-gun-wounds/" sl-processed="1" style="border: 0px; line-height: inherit; margin: 0px; outline: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;">5 other suspicious banker “suicides” in the past week</a>.</span></div>
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<li style="border: 0px; line-height: inherit; list-style-type: disc; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;"><a href="http://politicalvelcraft.org/2011/04/02/the-presidents-who-killed-rothschild-banking-schemes-andrew-roosevelt-and-the-presidents-murdered-by-rothschild-lincoln-kennedy/" sl-processed="1" style="border: 0px; line-height: inherit; margin: 0px; outline: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;"><span style="background-color: white; color: black; font-family: Arial, Helvetica, sans-serif;">The Presidents Who Killed Rothschild Banking Schemes : Jackson & Roosevelt And The Presidents Murdered By Rothschild ~ Lincoln, Garfield, & Kennedy!</span></a></li>
<li style="border: 0px; line-height: inherit; list-style-type: disc; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;"><span style="background-color: white; border: 0px; color: black; font-family: Arial, Helvetica, sans-serif; line-height: inherit; margin: 0px; outline: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;"><a href="http://politicalvelcraft.org/2014/02/13/heads-up-rothschild-bankers-who-screwed-everyone-in-ireland-are-finally-on-trial-ireland-joins-iceland-egypt-russia-hungary-china-iran/" sl-processed="1" style="border: 0px; line-height: inherit; margin: 0px; outline: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;">Heads Up: Rothschild Bankers Who Screwed Everyone In Ireland Are Finally On Trial: Ireland Joins Iceland, Egypt, Russia, Hungary, China, & Iran</a></span></li>
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6th. Banker Dead: JPMorgan’s Executive Director Of Global Equities Ryan Crane.

Another JP Morgan banker has been found dead, as Ryan Henry Crane, the Executive Director in JPMorgan’s Global Equities Group was found dea...

How China Can Cause The Death Of The Dollar And The Entire U.S. Financial System

TheWake UpCall 2 China, Dollar, Economic Collapse, Economy, US 3:35 AM

<div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">The death of the dollar is coming, and it will probably be China that pulls the trigger.  What you are about to read is understood by only a very small fraction of all Americans.  Right now, the U.S. dollar is the de facto reserve currency of the planet.  Most global trade is conducted in U.S. dollars, and <a href="http://theeconomiccollapseblog.com/archives/the-growing-rift-with-saudi-arabia-threatens-to-severely-damage-the-petrodollar" style="color: #4f809e; font-weight: bold; text-decoration: none;" title="almost all oil">almost all oil</a> is sold for U.S. dollars.  <a href="http://www.telegraph.co.uk/finance/comment/jeremy-warner/10378666/The-sun-is-setting-on-dollar-supremacy-and-with-it-American-power.html" style="color: #4f809e; font-weight: bold; text-decoration: none;" target="_blank" title="more than 60 percent">More than 60 percent</a> of all global foreign exchange reserves are held in U.S. dollars, and far more U.S. dollars are actually used outside of the United States than inside of it.  As will be described below, this has given the United States some tremendous economic advantages, and most Americans have no idea how much their current standard of living depends on the dollar remaining the reserve currency of the world.  Unfortunately, thanks to reckless money printing by the Federal Reserve and the reckless accumulation of debt by the federal government, the status of the dollar as the reserve currency of the world is now in great jeopardy.</span></div><div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><img height="238" src="http://www.riskmanagementmonitor.com/wp-content/uploads/2010/01/shutterstock_U.S.-china.jpg" width="640" /></div><span style="background-color: white; font-family: Arial, Helvetica, sans-serif;">As I mentioned above, nations all over the globe use U.S. dollars to trade with one another.  This has created tremendous demand for U.S. dollars and has kept the value of the dollar up.  It also means that Americans can import things that they need much more inexpensively than they otherwise would be able to.</span><br />
<div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">The largest exporting nations such as Saudi Arabia (oil) and China (cheap plastic trinkets at Wal-Mart) end up with massive piles of U.S. dollars...</span></div><div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><a href="http://theeconomiccollapseblog.com/archives/the-growing-rift-with-saudi-arabia-threatens-to-severely-damage-the-petrodollar/are-you-ready-for-a-tsunami-of-inflation-photo-by-revisorweb-3" rel="attachment wp-att-6552" style="color: #4f809e; font-weight: bold; text-decoration: none;"><span style="font-family: Arial, Helvetica, sans-serif;"><img alt="Are You Ready For The Death Of The Petrodollar - Photo By Revisorweb" class="aligncenter size-large wp-image-6552" height="283" src="http://theeconomiccollapseblog.com/wp-content/uploads/2013/10/Are-You-Ready-For-A-Tsunami-Of-Inflation-Photo-By-Revisorweb-425x283.jpg" style="border: 0px; display: block; margin: 10px auto;" width="425" /></span></a></div><div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">Instead of just sitting on all of that cash, these exporting nations often reinvest much of that cash into low risk securities that can be rapidly turned back into dollars if necessary.  For a very long time, U.S. Treasury bonds have been considered to be the perfect way to do this.  This has created tremendous demand for U.S. government debt and has helped keep interest rates super low.  So every year, massive amounts of money that gets sent out of the country ends up being loaned back to the U.S. Treasury at super low interest rates...</span></div><div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><a href="http://theeconomiccollapseblog.com/archives/how-china-can-cause-the-death-of-the-dollar-and-the-entire-u-s-financial-system/united-states-treasury-building-photo-by-rchuon24" rel="attachment wp-att-6607" style="color: #4f809e; font-weight: bold; text-decoration: none;"><span style="font-family: Arial, Helvetica, sans-serif;"><img alt="United States Treasury Building - Photo by Rchuon24" class="aligncenter size-large wp-image-6607" height="174" src="http://theeconomiccollapseblog.com/wp-content/uploads/2013/11/United-States-Treasury-Building-Photo-by-Rchuon24-425x174.jpg" style="border: 0px; display: block; margin: 10px auto;" width="425" /></span></a></div><div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">And it has been a very good thing for the U.S. economy that the federal government has been able to borrow money so cheaply, because the interest rate on 10 year U.S. Treasuries affects thousands upon thousands of other interest rates throughout our financial system.  For example, as the rate on 10 year U.S. Treasuries has risen in recent months, so have the rates on U.S. home mortgages.</span></div><div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">Our entire way of life in the United States depends upon this game continuing.  We must have the rest of the world use our currency and loan it back to us at ultra low interest rates.  At this point we have painted ourselves into a corner by accumulating so much debt.  We simply cannot afford to have rates rise significantly.</span></div><div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">For example, if the average rate of interest on U.S. government debt rose to just 6 percent (and it has been much higher than that at various times in the past), we would be paying more than a trillion dollars a year just in interest on the national debt.</span></div><div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">But it wouldn't be just the federal government that would suffer.  Just consider what higher rates would do to the real estate market.</span></div><div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">About a year ago, the rate on 30 year mortgages was sitting at 3.31 percent.  The monthly payment on a 30 year, $300,000 mortgage at that rate is <strong>$1315.52</strong>.</span></div><div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">If the 30 year rate rises to 8 percent, the monthly payment on a 30 year, $300,000 mortgage would be <strong>$2201.29</strong>.</span></div><div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">Does 8 percent sound crazy to you?</span></div><div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">It shouldn't.  8 percent was considered to be normal back in the year 2000.</span></div><div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">Are you starting to get the picture?</span></div><div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">We need other countries to use our dollars and buy our debt so that we can have super low interest rates and so that we can afford to buy lots of cheap stuff from them.</span></div><div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">Unfortunately, the truly bizarre behavior of the Federal Reserve and the U.S. government over the past several years is causing the rest of the world to lose faith in our currency.  In particular, China is leading the call for a "de-Americanized" world.  The following is from a recent article posted <a href="http://www.france24.com/en/20131106-china-seeks-world-role-peoples-money" style="color: #4f809e; font-weight: bold; text-decoration: none;" target="_blank" title="on the website of France 24">on the website of France 24</a>...</span></div><blockquote style="background-color: #f4f4f4; border: 1px solid rgb(225, 225, 225); clear: both; color: #555555; height: 227.1875px; padding: 1em;"><div style="margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">For decades the US has benefited to the tune of trillions of dollars-worth of free credit from the greenback's role as the default global reserve unit.</span></div><div style="margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">But as the global economy trembled before the prospect of a US default last month, only averted when Washington reached a deal to raise its debt ceiling, China's official Xinhua news agency called for a "de-Americanised" world.</span></div><div style="margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">It also urged the creation of a "new international reserve currency... to replace the dominant US dollar".</span></div></blockquote><div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">So why should the rest of the planet listen to China?</span></div><div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">Well, China now accounts for <a href="http://www.bloomberg.com/news/2013-02-09/china-passes-u-s-to-become-the-world-s-biggest-trading-nation.html" style="color: #4f809e; font-weight: bold; text-decoration: none;" target="_blank" title="more global trade">more global trade</a> than anyone else does, including the United States.</span></div><div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">China is also now the <a href="http://www.cnbc.com/id/101102770" style="color: #4f809e; font-weight: bold; text-decoration: none;" target="_blank" title="number one importer of oil">number one importer of oil</a> in the world.</span></div><div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><a href="https://draft.blogger.com/blogger.g?blogID=5959300518432319010" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"></a><span style="font-family: Arial, Helvetica, sans-serif;">At this point, China is even <a href="http://theeconomiccollapseblog.com/archives/saudi-arabia-and-china-team-up-to-build-a-gigantic-new-oil-refinery-is-this-the-beginning-of-the-end-for-the-petrodollar" style="color: #4f809e; font-weight: bold; text-decoration: none;" title="importing more oil">importing more oil</a> from Saudi Arabia than the United States is.</span></div><div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">China now has an enormous amount of economic power globally, and the Chinese want the rest of the planet to start using less U.S. dollars and to start using more of their own currency.  The following is from a recent article in <a href="http://www.vancouversun.com/Business/asia-pacific/China+yuan+makes+waves+international+currency/9123015/story.html" style="color: #4f809e; font-weight: bold; text-decoration: none;" target="_blank" title="the Vancouver Sun">the Vancouver Sun</a>...</span></div><blockquote style="background-color: #f4f4f4; border: 1px solid rgb(225, 225, 225); clear: both; color: #555555; height: 121.59375px; padding: 1em;"><div style="margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">Three years after China allowed the yuan to start trading in Hong Kong’s offshore market, banks and investors around the world are positioning themselves to get involved in what Nomura Holdings Inc. calls the biggest revolution in the $5.3 trillion currency market since the creation of the euro in 1999.</span></div>

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</blockquote><div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">And over the past few years we have seen the global use of the yuan<a href="http://www.vancouversun.com/Business/asia-pacific/China+yuan+makes+waves+international+currency/9123015/story.html" style="color: #4f809e; font-weight: bold; text-decoration: none;" target="_blank" title="rise dramatically">rise dramatically</a>...</span></div><blockquote style="background-color: #f4f4f4; border: 1px solid rgb(225, 225, 225); clear: both; color: #555555; height: 121.59375px; padding: 1em;"><div style="margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">International use of the yuan is increasing as the world’s second-largest economy opens up its capital markets. In the first nine months of this year, about 17 percent of China’s global trade was settled in the currency, compared with less than one percent in 2009, according to Deutsche Bank AG.</span></div></blockquote><div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">Of course the U.S. dollar is still king for now, but thanks to a whole host of recent international currency agreements this status is slipping.  For example, China just recently signed a major currency agreement <a href="http://money.cnn.com/2013/10/10/news/economy/ecb-china-currency/" style="color: #4f809e; font-weight: bold; text-decoration: none;" target="_blank" title="with the European Central Bank">with the European Central Bank</a>...</span></div><blockquote style="background-color: #f4f4f4; border: 1px solid rgb(225, 225, 225); clear: both; color: #555555; height: 182.390625px; padding: 1em;"><div style="margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">The swap deal will allow more trade and investment between the regions to be conducted in euros and yuan, without having to convert into another currency such as the U.S. dollar first, said Kathleen Brooks, a research director at FOREX.com.</span></div><div style="margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">"It's a way of promoting European and Chinese trade, but not doing it with the U.S. dollar," said Brooks. "It's a bit like cutting out the middleman, all of a sudden there's potentially no U.S. dollar risk."</span></div></blockquote><div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">And as I have written about <a href="http://theeconomiccollapseblog.com/archives/the-giant-currency-superstorm-that-is-coming-to-the-shores-of-america-when-the-dollar-dies" style="color: #4f809e; font-weight: bold; text-decoration: none;" title="previously">previously</a>, we have seen a bunch of other similar agreements being signed all over the planet in recent years...</span></div><div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">1. China and Germany (<a href="http://finance.townhall.com/columnists/mikeshedlock/2012/09/02/china_germany_to_settle_more_trade_in_yuan_euros_whats_that_mean_for_gold_the_dollar/page/full/" style="color: #4f809e; font-weight: bold; text-decoration: none;" target="_blank" title="See Here">See Here</a>)</span></div><div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">2. China and Russia (<a href="http://www.chinadaily.com.cn/china/2010-11/24/content_11599087.htm" style="color: #4f809e; font-weight: bold; text-decoration: none;" target="_blank" title="See Here">See Here</a>)</span></div><div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">3. China and Brazil (<a href="http://www.bbc.co.uk/news/business-18545978" style="color: #4f809e; font-weight: bold; text-decoration: none;" target="_blank" title="See Here">See Here</a>)</span></div><div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">4. China and Australia (<a href="http://www.financialexpress.com/news/australia-china-sign-31bn-currency-swap-agreement/927280/" style="color: #4f809e; font-weight: bold; text-decoration: none;" target="_blank" title="See Here">See Here</a>)</span></div><div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">5. China and Japan (<a href="http://www.bloomberg.com/news/2011-12-25/china-japan-to-promote-direct-trading-of-currencies-to-cut-company-costs.html" style="color: #4f809e; font-weight: bold; text-decoration: none;" target="_blank" title="See Here">See Here</a>)</span></div><div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">6. India and Japan (<a href="http://www.reuters.com/article/2011/12/28/us-india-japan-trade-idUSTRE7BR0N020111228" style="color: #4f809e; font-weight: bold; text-decoration: none;" target="_blank" title="See Here">See Here</a>)</span></div><div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">7. Iran and Russia (<a href="http://www.bloomberg.com/news/2012-01-07/iran-russia-replace-dollar-with-rial-ruble-in-trade-fars-says.html" style="color: #4f809e; font-weight: bold; text-decoration: none;" target="_blank" title="See Here">See Here</a>)</span></div>

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<div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">8. China and Chile (<a href="http://news.xinhuanet.com/english/china/2012-06/27/c_123334167.htm" style="color: #4f809e; font-weight: bold; text-decoration: none;" target="_blank" title="See Here">See Here</a>)</span></div><div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">9. China and the United Arab Emirates (<a href="http://money.cnn.com/2012/03/07/markets/bondcenter/dim-sum-bond-dubai/index.htm" style="color: #4f809e; font-weight: bold; text-decoration: none;" target="_blank" title="See Here">See Here</a>)</span></div><div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">10. China, Brazil, Russia, India and South Africa (<a href="http://zeenews.india.com/business/news/economy/brics-to-sign-pacts-for-trade-in-local-currencies_44626.html" style="color: #4f809e; font-weight: bold; text-decoration: none;" target="_blank" title="See Here">See Here</a>)</span></div><div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">But do you hear about any of this on the mainstream news?</span></div><div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">Of course not.</span></div><div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">They would rather focus on the latest celebrity scandal.</span></div><div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">Right now, the global move away from the U.S. dollar is slow but steady.</span></div><div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">At some point, some trigger event will likely cause it to become a stampede.</span></div><div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">When that happens, demand for U.S. dollars and U.S. debt will disintegrate and interest rates will absolutely skyrocket.</span></div><div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">And if interest rates skyrocket that will throw the entire U.S. financial system into chaos.  At the moment, there are about <a href="http://theeconomiccollapseblog.com/archives/the-441-trillion-dollar-interest-rate-derivative-timb-bomb" style="color: #4f809e; font-weight: bold; text-decoration: none;" title="441 trillion dollars worth of interest rate derivatives sitting out there">441 trillion dollars worth of interest rate derivatives sitting out there</a>.  It is a financial time bomb unlike anything the world has ever seen before.</span></div><div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">There are <a href="http://theeconomiccollapseblog.com/archives/too-big-to-fail-is-now-bigger-than-ever-before" style="color: #4f809e; font-weight: bold; text-decoration: none;" target="_blank" title="4 U.S. banks">four "too big to fail" banks in the United States</a> that each have more than 40 trillion dollars worth of total exposure to derivatives.   The largest chunk of those derivatives is made up of interest rate derivatives.  In case you were wondering , those four banks are JPMorgan Chase, Citibank, Bank of America and Goldman Sachs.</span></div><div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">By  Michael Snyder</span></div><div style="background-color: white; margin-bottom: 1em; margin-top: 1em; padding: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">Read more from the source: <a href="http://theeconomiccollapseblog.com/archives/how-china-can-cause-the-death-of-the-dollar-and-the-entire-u-s-financial-system" style="background-color: transparent;">http://theeconomiccollapseblog.com/archives/how-china-can-cause-the-death-of-the-dollar-and-the-entire-u-s-financial-system</a></span></div><br />
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How China Can Cause The Death Of The Dollar And The Entire U.S. Financial System

The death of the dollar is coming, and it will probably be China that pulls the trigger. What you are about to read is understood by only a...

Why China Wants To Dump the Dollar

TheWake UpCall 1 China, Dollar 11:19 AM

<div style="font-size: 14px; margin-top: 10px;"><span style="font-family: Arial, Helvetica, sans-serif;"><span style="font-size: small;">China's Dagong credit rating agency on October 17th downgraded its United States sovereign credit rating to A- and maintained its negative outlook on America's solvency.  Dagong warned that despite Washington's last-minute resolution of the debt ceiling deadlock: "The fundamental situation that the debt growth rate significantly outpaces that of fiscal income and gross domestic product remains unchanged." China's official state-run news agency, Xinhua, reiterated its earlier statements that because of the contnuing risk of a </span><a href="http://www.latimes.com/topic/economy-business-finance/macroeconomics/u.s.-debt-ceiling-EVGAP00060.topic" style="color: #0033cc; text-decoration: none;"><span style="font-size: small;">United States debt default</span></a><span style="font-size: small;">, it is "a good time for the befuddled world <span class="IL_AD" id="IL_AD1" style="background-attachment: scroll !important; background-image: none !important; background-position: 0% 50%; background-repeat: repeat repeat !important; border-bottom-color: rgb(17, 176, 0) !important; border-bottom-style: solid !important; border-bottom-width: 1px !important; color: rgb(17, 176, 0) !important; cursor: pointer !important; display: inline !important; float: none !important; font-size: 19px !important; padding: 0px 0px 1px !important; position: static; text-decoration: underline !important;">to start</span> considering building a de-Americanized world." This language is code for Chinese want to abandon the U.S. dollar as the world's "reserve currency" and move international financial transactions to the </span><a href="http://en.wikipedia.org/wiki/Renminbi" style="color: #0033cc; text-decoration: none;"><span style="font-size: small;">renminbi</span></a><span style="font-size: small;">, the currency of the </span><a href="http://en.wikipedia.org/wiki/People%27s_Republic_of_China" style="color: #0033cc; text-decoration: none;"><span style="font-size: small;">People's Republic of China</span></a><span style="font-size: small;">. Having benefited for twenty years from an undervalued currency that imported manufacturing jobs and exported lower priced products, China's economic <span class="IL_AD" id="IL_AD4" style="background-attachment: scroll !important; background-image: none !important; background-position: 0% 50%; background-repeat: repeat repeat !important; border-bottom-color: rgb(17, 176, 0) !important; border-bottom-style: solid !important; border-bottom-width: 1px !important; color: rgb(17, 176, 0) !important; cursor: pointer !important; display: inline !important; float: none !important; font-size: 19px !important; padding: 0px 0px 1px !important; position: static; text-decoration: underline !important;">advantage</span> is being destroyed by America's oil and natural gas fracking boom. The Chinese communist authorities are terrified their loss of competitiveness will cause unemployment and the social consequences that flow from it. But with the terms of trade now substantially against China, convincing the world to dump the U.S. dollar as reserve currency and switch to the Chinese "renminbi" is their best hope to try to save tens of millions of manufacturing jobs.</span></span></div><script>
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<div style="font-size: 14px; margin-top: 10px;"><img src="http://www.americanthinker.com/articles/assets/Dragon.png" /></div><div style="font-size: 14px; margin-top: 10px;"><span style="font-family: Arial, Helvetica, sans-serif;"><span style="font-size: small;">When the Soviet Union collapsed in the early 1990s, China's economy began to implode and inflation skyrocketed from</span><a href="http://www.tradingeconomics.com/china/inflation-cpi" style="color: #0033cc; text-decoration: none;"><span style="font-size: small;"> 10% to 25%</span></a><span style="font-size: small;">. The United States, Europe, and Japan saved the Chinese economy by allowing China to devalue their currency by 68% and gain tariff-free export to world's largest markets. Under this new communist form of capitalism from 1993 to 2008, China's economy quadrupled, the U.S. economy doubled, Europe rose by half, and Japan stagnated.</span></span></div>

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<div style="font-size: 14px; margin-top: 10px;"><span style="font-size: small;"><span style="font-family: Arial, Helvetica, sans-serif;">Contract manufacturing is a very competitive business and historically had an average profit margin of only 3.5%. This assumes uncontrollable costs of about 75-80% for purchased inputs and 13.5% for energy. Companies primarily compete over managements' ability to get more productivity from an average of 8.5% in <span class="IL_AD" id="IL_AD2" style="background-attachment: scroll !important; background-image: none !important; background-position: 0% 50%; background-repeat: repeat repeat !important; border-bottom-color: rgb(17, 176, 0) !important; border-bottom-style: solid !important; border-bottom-width: 1px !important; color: rgb(17, 176, 0) !important; cursor: pointer !important; display: inline !important; float: none !important; font-size: 19px !important; padding: 0px 0px 1px !important; position: static; text-decoration: underline !important;">labor cost</span>. But with China's labor rates initially 75% cheaper than the U.S., by moving production to China manufacturers could often double their profit margins to 7% of sales. Once positioned in China, manufacturers could also discount their sales prices to wipe out U.S. competition.</span></span></div><div style="font-size: 14px; margin-top: 10px;"><span style="font-size: small;"><span style="font-family: Arial, Helvetica, sans-serif;">U.S. trade "experts" in 1993 expected Chinese workers' total factor productivity (TFP) would be less than a quarter of American workers' 1.25% annual productivity gain. This may not sound like a lot, but over a 15-year period Chinese manufacturers would produce a unit for 95% of original cost and U.S. manufacturers would be producing the same unit for 82% of cost. The "experts" predicted few jobs would be lost to China and America would gain new markets for high-tech manufactured goods.</span></span></div><div style="font-size: 14px; margin-top: 10px;"><span style="font-family: Arial, Helvetica, sans-serif;"><span style="font-size: small;">Over the next 15 years, China grew the number of assembly workers involved in manufacturing for export to over 200 million workers. America </span><a href="http://www.forbes.com/sites/greatspeculations/2012/08/08/for-manufacturing-sector-europes-loss-is-americas-gain/" style="color: #0033cc; text-decoration: none;"><span style="font-size: small;">lost about eight million </span></a><span style="font-size: small;">manufacturing jobs to China, 40% of our 20 million production jobs. But even more damaging, every manufacturing job also lost </span><a href="http://www.huffingtonpost.com/jerry-jasinowski/jobs-multiplier_b_4002113.html" style="color: #0033cc; text-decoration: none;"><span style="font-size: small;">four service jobs </span></a><span style="font-size: small;">and another</span><a href="http://www.huffingtonpost.com/jerry-jasinowski/jobs-multiplier_b_4002113.html" style="color: #0033cc; text-decoration: none;"><span style="font-size: small;">1.58 manufacturing jobs </span></a><span style="font-size: small;">from subassembly manufacturers who locate near their customer.</span></span></div><div style="font-size: 14px; margin-top: 10px;"><span style="font-size: small;"><span style="font-family: Arial, Helvetica, sans-serif;">China understood that as it sucked manufacturing jobs out of the U.S., the Chinese renminbi currency would be expected to rise in value and destroy their "cheap" labor advantage. As a communist nation, they adopted a national policy of recycling a portion of their export sales revenue into the purchase of U.S. Treasury bonds to drive up the value of the U.S. dollar versus the Chinese renminbi.</span></span></div><div style="font-size: 14px; margin-top: 10px;"><span style="font-family: Arial, Helvetica, sans-serif;"><span style="font-size: small;">Fearing that every 10% increase in the exchange rate of the renminbi to the dollar would cause the loss of 35 million manufacturing jobs, by 2008 China had purchased </span><a href="http://www.fas.org/sgp/crs/row/RL34314.pdf" style="color: #0033cc; text-decoration: none;"><span style="font-size: small;">$2 trillion </span></a><span style="font-size: small;">in U.S. Treasury Bonds. China's bond purchases drove down U.S. interest rates and caused a real estate building boom employing millions of Americans. But when the real estate bubble burst, the "Great Recession" educated Americans on the pain of losing manufacturing jobs.</span></span></div>
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<div style="font-size: 14px; margin-top: 10px;"><span style="font-size: small;"><span style="font-family: Arial, Helvetica, sans-serif;">China's <span class="IL_AD" id="IL_AD3" style="background-attachment: scroll !important; background-image: none !important; background-position: 0% 50%; background-repeat: repeat repeat !important; border-bottom-color: rgb(17, 176, 0) !important; border-bottom-style: solid !important; border-bottom-width: 1px !important; color: rgb(17, 176, 0) !important; cursor: pointer !important; display: inline !important; float: none !important; font-size: 19px !important; padding: 0px 0px 1px !important; position: static; text-decoration: underline !important;">labor costs</span> became even more uncompetitive versus the U.S. after 2008 financial crash drove down U.S. wages. In response, the communist nation began "administering" input costs by subsidizing the cost its state-owned export manufacturers paid to purchase energy. As a country that imports 70% of its oil needs, subsidies preserved China's manufacturing employment. But the subsidized prices increased the demand for oil and drove the international price of oil from a recession low of $40 up to $100 barrel.</span></span></div><div style="font-size: 14px; margin-top: 10px;"><span style="font-size: small;"><span style="font-family: Arial, Helvetica, sans-serif;">The financial crisis caused such scandal in the U.S. banks were forced to slash their leverage risk from holding $25 down to $13 of assets for each $1 of deposits. The Chinese authorities directed their state-owned-banks to increase their leverage risk from $35 to $48 of assets for each $1 of deposits. China banks also increased infrastructure and commercial and residential property loans. Policy lending created such huge new inefficiencies in the Chinese economy that many bank loans can never be repaid.</span></span></div><div style="font-size: 14px; margin-top: 10px;"><span style="font-family: Arial, Helvetica, sans-serif;"><span style="font-size: small;">"China's steady growth in oil demand has led it to become the world's largest net oil importer, exceeding the United States in September 2013" according to the </span><a href="http://www.cnbc.com/id/101102770" style="color: #0033cc; text-decoration: none;"><span style="font-size: small;">U.S. Energy Information Administration</span></a><span style="font-size: small;">. China's rising oil demand in September outstripped domestic production by 6.3 million barrels per day. But U.S. imports continue to fall as fracking technology increased production to 7.8 million barrels per day, the highest level since early 1989. Natural gas production is also rapidly increasing and America will soon be self-sufficient in this important industrial energy source. The price for 1000 cubic feet of natural gas averages about $3.50 in the U.S., versus over $12 in China.</span></span></div><div style="font-size: 14px; margin-top: 10px;"><span style="font-size: small;"><span style="font-family: Arial, Helvetica, sans-serif;">China remains an impoverished nation, where 900 million people have an annual per capita income around the same level as Guatemala, $3,000-$3,500 a year, and 500 million have an annual per capita income around the same level as Nicaragua, $1,500-$1,700. China's per capita GDP is around the same level as the Dominican Republic. Stimulating the domestic consumer economy will not help manufacturers when the vast majority of Chinese cannot afford to buy the products they currently produce for export.</span></span></div><div style="font-size: 14px; margin-top: 10px;"><span style="font-family: Arial, Helvetica, sans-serif;"><span style="font-size: small;">The Chinese benefited enormously from being allowed to devalue their currency and participating with the dollar as their reserve currency. But if China continues aggressive lending to failing businesses, they will generate higher inflation and make Chinese exports more uncompetitive. But allowing businesses to fail would cause unemployment and cause massive social and political problems. If China sells their </span><a href="https://d21uq3hx4esec9.cloudfront.net/images/uploads/ttmygh/7012/TTMYGH_14_October_2013.pdf" style="color: #0033cc; text-decoration: none;"><span style="font-size: small;">$3.3 trillion </span></a><span style="font-size: small;">of U.S. Bonds, the dollar will fall and America will become even more competitive. As China's economic decline becomes obvious, it is doubtful they will convince the world to allow China to devalue and make the renminbi the world's reserve currency.</span></span></div><div style="font-size: 14px; margin-top: 10px;"><span style="font-size: small;"><span style="font-family: Arial, Helvetica, sans-serif;">China as the second largest economy in the world will continue to be a major international power. But its days as the low-wage, high-growth center of the earth are over. Their ability to project military power in Asia will also fade. China's future may be similar to what George Friedman of Stratfor famously said about the future of Japan after the end of its high-growth cycle: "it will play a different role."</span></span></div><span style="font-size: 14px;"><span style="font-family: Arial, Helvetica, sans-serif;"><br />
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Source: <a href="http://www.americanthinker.com/2013/10/why_china_wants_to_dump_the_dollar_1.html#ixzz2iYh6TVrk" style="color: #003399; text-decoration: none;">http://www.americanthinker.com/2013/10/why_china_wants_to_dump_the_dollar_1.html#ixzz2iYh6TVrk</a> </span></span><br />
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Why China Wants To Dump the Dollar

China's Dagong credit rating agency on October 17th downgraded its United States sovereign credit rating to A- and maintained its negati...

FOOD STAMP SHUTDOWN NATIONWIDE. WILL THE DOLLAR CRASH?! BLOODTHIRSTY FOOD RIOTS NEXT?

TheWake UpCall 0 Dollar, Food Stamp 1:02 PM

<div style="border: 0px; line-height: 2em; margin-bottom: 10px; padding: 0px; vertical-align: baseline;"><span style="font-family: Arial, Helvetica, sans-serif;">WASHINGTON — The House voted to cut nearly $40 billion from the Supplemental Nutrition Assistance Program, or food stamps, over a period 10 years on Thursday.</span></div><div style="border: 0px; line-height: 2em; margin-bottom: 10px; padding: 0px; vertical-align: baseline;"><span style="font-family: Arial, Helvetica, sans-serif;">House Republican’s Nutrition Reform and Work Opportunity Act of 2013 passed largely along party lines on a vote of 217 to 210.</span></div><div style="border: 0px; line-height: 2em; margin-bottom: 10px; padding: 0px; vertical-align: baseline;"><img src="http://cdn01.dailycaller.com/wp-content/uploads/2012/07/108970264-e1371696667155.jpg" /></div>

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<div style="border: 0px; line-height: 2em; margin-bottom: 10px; padding: 0px; vertical-align: baseline;"><span style="font-family: Arial, Helvetica, sans-serif;">The billion dollar cuts to the program — which has ballooned in participation and doubled in cost since 2008 to nearly $80 billion annually — are achieved through reforms such as reducing waivers for work requirements for able-bodied adults without dependents, tightening eligibility requirements like categorical eligibility (a policy allowing states to determine SNAP eligibility through participation in other welfare programs) and closing loopholes.</span></div><div style="border: 0px; line-height: 2em; margin-bottom: 10px; padding: 0px; vertical-align: baseline;"><span style="font-family: Arial, Helvetica, sans-serif;">The nutrition title represents the second portion of the farm bill, which was split into two separate bills when a comprehensive farm bill failed to pass the House over the summer (in large part due to disputed over the cuts to the program). The cuts to SNAP this time, however, were twice as aggressive.</span></div><div style="border: 0px; line-height: 2em; margin-bottom: 10px; padding: 0px; vertical-align: baseline;"><div class="separator" style="clear: both; text-align: center;"><iframe allowfullscreen="allowfullscreen" frameborder="0" height="266" mozallowfullscreen="mozallowfullscreen" src="https://www.youtube.com/embed/__quFls9nEk?feature=player_embedded" webkitallowfullscreen="webkitallowfullscreen" width="320"></iframe></div><span style="font-family: Arial, Helvetica, sans-serif;"> </span></div><div style="border: 0px; line-height: 2em; margin-bottom: 10px; padding: 0px; vertical-align: baseline;"><span style="font-family: Arial, Helvetica, sans-serif;">In July, the House passed the first portion of the traditional farm bill, a stripped down bill dealing just with farm programs.</span></div><div style="border: 0px; line-height: 2em; margin-bottom: 10px; padding: 0px; vertical-align: baseline;"><span style="font-family: Arial, Helvetica, sans-serif;">“In the real world, we measure success by results,” Indiana Republican Rep. Marlin Stutzman said on the House floor arguing in favor of the bill. “It’s time for Washington to measure success by how many families are lifted out of poverty and helped back on their feet, not by how much Washington bureaucrats spend year after year.”</span></div><div style="border: 0px; line-height: 2em; margin-bottom: 10px; padding: 0px; vertical-align: baseline;"><span style="font-family: Arial, Helvetica, sans-serif;">Democrats argued that House Republicans are trying to take food out of needy American’s mouth, with House Minority Leader Nancy Pelosi calling the bill “dangerous” and Maryland Democratic Rep. Donna Edwards calling it “mean” on the floor.</span></div>
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 <div style="border: 0px; line-height: 2em; margin-bottom: 10px; padding: 0px; vertical-align: baseline;"><span style="font-family: Arial, Helvetica, sans-serif;">“This bill goes against decades of bipartisan support for fighting hunger and would be disastrous for millions of Americans,” Connecticut Democratic Rep. Rosa DeLauro said in a statement before the vote, calling the cuts “immoral.”</span></div><div style="border: 0px; line-height: 2em; margin-bottom: 10px; padding: 0px; vertical-align: baseline;"><span style="font-family: Arial, Helvetica, sans-serif;">In June, the Senate passed a farm bill that cut $400 million annually from the program.</span></div><div style="border: 0px; line-height: 2em; margin-bottom: 10px; padding: 0px; vertical-align: baseline;"><span style="font-family: Arial, Helvetica, sans-serif;">“[T]he good news for children, families, seniors, the disabled and veterans across America is that the House bill will never see the light of day in the United States Senate,” Debbie Stabenow, chairwoman of the Senate agriculture committee, said on the Senate floor Wednesday.</span></div><div style="border: 0px; line-height: 2em; margin-bottom: 10px; padding: 0px; vertical-align: baseline;"><span style="font-family: Arial, Helvetica, sans-serif;">Source: </span><a href="http://dailycaller.com/2013/09/19/house-passes-bill-cutting-40-billion-from-food-stamp-program/">http://dailycaller.com/2013/09/19/house-passes-bill-cutting-40-billion-from-food-stamp-program/</a></div> <script type="text/javascript">
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FOOD STAMP SHUTDOWN NATIONWIDE. WILL THE DOLLAR CRASH?! BLOODTHIRSTY FOOD RIOTS NEXT?

WASHINGTON — The House voted to cut nearly $40 billion from the Supplemental Nutrition Assistance Program, or food stamps, over a period 10 ...

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