‘China Makes a Move on the USD’


COGwriter

Notice something from the German press (top portion machine-translated into English, with lower portion the original in the German language):

25 October 2017

Attack on the dollar: China prepares petro-yuan

China could already denominate its first oil contracts in yuan in two months.

China is obviously preparing a serious attempt to challenge the dollar as the world’s leading currency.

25.10.2017

Angriff auf den Dollar: China bereitet Petro-Yuan vor

China könnte bereits in zwei Monaten seine ersten Öl-Kontrakte in Yuan denominieren.

China bereitet offenbar einen ernsthaften Versuch vor, den Dollar als Weltleitwährung herauszufordern. http://www.finanznachrichten.de/nachrichten-2017-10/42043561-angriff-auf-den-dollar-china-bereitet-petro-yuan-vor-259.htm

Notice also the following:

China Makes a Move on the USD

October 25, 2017

China is set to roll out a yuan-denominated oil contract as early as this year. Analysts call the plan, announced by Beijing in September, a huge move against the dollar’s global dominance.

The so-called petro-yuan is a “wake up call” for investors who haven’t paid attention to the Chinese plans, according to the head of Graticule Asset Management Asia Adam Levinson, as quoted by Bloomberg.

Earlier this year, the Chinese government announced plans to start a crude oil futures contract priced in yuan and convertible into gold. The contract will enable the country’s trading partners to pay with gold or to convert yuan into gold without the necessity to keep money in Chinese assets or turn it into US dollars.

The new benchmark will reportedly allow exporters, such as Russia, Iran or Venezuela to avoid US sanctions by trading oil in yuan. …

The end of US dollar hegemony has been a consistent message from Russian President Vladimir Putin.

“Russia shares the BRICS countries’ concerns over the unfairness of the global financial and economic architecture, which does not give due regard to the growing weight of the emerging economies. We are ready to work together with our partners to promote international financial regulatory reforms and to overcome the excessive domination of the limited number of reserve currencies,” Putin said two months ago during the BRICs summit in Xiamen. http://www.livetradingnews.com/china-makes-move-usd-58731.html#.WfCSiohrwuU

China is looking to make a major move against the dollar’s global dominance …

China is the world’s top oil importer, and so Beijing sees it as only logical that its own currency should price the global economy’s most important commodity. But beyond that, moving away from the dollar is a strategic priority for countries like China and Russia. Both aim to ultimately reduce their dependency on the greenback, limiting their exposure to U.S. currency risk and the politics of American sanctions regimes.

The plan is to price oil in yuan using a gold-backed futures contract in Shanghai, but the road will be long and arduous.

“Game changer it is not — at least not yet,” said Gal Luft, co-director of the Institute for the Analysis of Global Security, a Washington based think tank focused on energy security. “But it is another indicator of the beginning of the glacial, and I emphasize the word glacial, decline of the dollar.” …

China is likely to approach its main crude oil suppliers in the Middle East, Russia and Asia — some of who already accept the yuan as payment — to price their cargoes off a Chinese benchmark.

“The U.S. coverage is dropping off,” said Juerg Kiener, managing director and chief investment officer of asset manager Swiss Asia Capital. “Iraq, Russia and Indonesia have all joined in non-dollar trades.”

The petro-yuan is “well-advanced” and already “structurally in place,” Kiener added: “As China is an importer it will push harder to get yuan contracts.” https://www.cnbc.com/2017/10/24/petro-yuan-china-wants-to-dethrone-dollar-rmb-denominated-oil-contracts.html

It is not just China that wants to dethrone the US dollar:

“It’s A Huge Story”: China Launching “Petroyuan” In Two Months

October 25, 2017

The World Bank’s former chief economist wants to replace the US dollar with a single global super-currency, saying it will create a more stable global financial system.

 “The dominance of the greenback is the root cause of global financial and economic crises,” Justin Yifu Lin told Bruegel, a Brussels-based policy-research think tank.

“The solution to this is to replace the national currency with a global currency.”

The writing is on the wall for dollar hegemony. As Russian President Vladimir Putin said almost two months ago during the BRICs summit in Xiamen,

 “Russia shares the BRICS countries’ concerns over the unfairness of the global financial and economic architecture, which does not give due regard to the growing weight of the emerging economies. We are ready to work together with our partners to promote international financial regulation reforms and to overcome the excessive domination of the limited number of reserve currencies.”

As Pepe Escobar recently noted, ‘to overcome the excessive domination of the limited number of reserve currencies’ is the politest way of stating what the BRICS have been discussing for years now; how to bypass the US dollar, as well as the petrodollar.

Beijing is ready to step up the game. Soon China will launch a crude oil futures contract priced in yuan. This means that Russia – as well as Iran, the other key node of Eurasia integration – may bypass US sanctions by trading energy in their own currencies, or in yuan. Inbuilt in the move is a true Chinese win-win; the yuan – according to some – will be fully convertible into gold on both the Shanghai and Hong Kong exchanges.

The new triad of oil, yuan and gold is actually a win-win-win. http://www.zerohedge.com/news/2017-10-24/its-huge-story-china-launching-petroyuan-two-months

The International Monetary Fund, European Union,and others have long wanted to diminish the role of the US dollar.

The BRICS nations (Brazil, Russia, India, China, and South Africa) have been publicly promoting this and China’s move fits.

Russia, China, and India have also been placing more emphasis on gold. And so has Europe: Germans have repatriated gold, and ahead of schedule (see Germany has brought back its gold and EU approves CETA and/or watch Germany, Gold, and the US Dollar). The German Europeans are also taking other steps towards world dominance (e.g. ‘Undemocratic’ European Union has become a German empire).

Venezuela has essentially dropped the dollar. As has Iran. Despite US interventions, Iraq is moving away from the US dollar.

China has been trying to come up with systems, including with gold backing, to avoid the US dollar (watch US Dollar being challenged by Gold-Petro-Yuan).

It has long been my view (my written view since the last decade) that gold would be involved in backing a replacement to the US dollar.

US President Trump’s tough talk in various areas (like trade and banking sanctions) are encouraging nations like China, Russia, and Venezuela to take steps to protect themselves from aspects of his threats.

Although the gold-petro-yuan is NOT the final replacement to the US dollar as the world’s primary reserve currency, the petroyuan is a step that will weaken US dollar dominance.

Dethroning the US dollar will cause massive economic problems for the USA. Much more than almost anyone believes. The standard of living in the USA has been raised/subsidized for years because of the status of the US dollar. That status is weakening. This will ultimately severely hurt the USA.

The BRICS nations are essentially Gentile.

We are getting closer to the great tribulation (Matthew 24:21; see also When Will the Great Tribulation Begin?) and final time of the Gentiles (Luke 21:24) that Jesus spoke of.

Some items of possibly related interest may include:

The End of US Dollar Dominance Is the USA losing its economic status? What about the petro-gold-yuan? A related video is also available: US Dollar being challenged by Gold-Petro-Yuan.
America’s Day of Reckoning 2017 Dollar Collapse? Economist James Dale Davidson says that a financial bloodbath will hit the USA and there is nothing that Washington can do to stop it. He claims that at least 57 nations have gotten together to dethrone the US dollar as the world’s reserve currency. He claims this can happen any day or in a few months. He mentions China, Russia, the AIIB, and gold. He claims his track record in predicting massive shifts in the past should assure people that he is right about this. He claims that there will be massive unemployment, near elimination of social security benefits, and more. In a post he sent me a link to July 13, 2016, James Dale Davidson wrote, “During the next six months, you will see the stock market plummet by at least 50%, real estate will drop 40%, savings accounts will lose 30%, and unemployment will triple. It’s already starting to unfold.” Is James Dale Davidson possibly right on any of this? Dr. Thiel goes over many of his claims and explains what the Bible shows related to the coming collapse of the US dollar. This is a video.
Can the Bilderberg Group Affect 2017 and Beyond? The infamous Bilderberg Group met in Dresden, Germany from June 9-12 in 2016. This super-secretive group has been meeting since 1954 and has admitted to some subjects it would cover, but blocked out cell phone reception and forbid coverage of the discussions by the media. This is considered THE meeting to be part of for the elites who are working for a global-type of government. It is by invitation only. They are working towards their version of the New World Order as opposed to the good news of the Kingdom of God. At least one top leader apparently attended to try to get the Bilderberg Group’s support for a bid to become the next Secretary-General of the United Nations to replace Ban ki-Moon, whose term ends 31 December 2016. Dr. Thiel explains some of what is going on in the light of end-time biblical prophecies in this video.
The Times of the Gentiles Has there been more than one time of the Gentiles? Are we in it now or in the time of Anglo-America? What will the final time of the Gentiles be like? A related sermon is available and is titled: The Times of the Gentiles.
Eliminate the $100 bill? Various ones, like Harvard economist and Trilateralist Larry Summers have called for the elimination of the USD$100 bill and the 500 Euro note. In Asia, South Korea is heading towards cashlessness by 2020. Electronic currencies are information and subject to monitoring. Did something God inspired the Apostle John over 1900 years ago now able to come to pass? This is a video.
Collapse of the Euro and Dollar? War in 2020? Larry Edelson of Money and Markets described aspects of current economic difficulties and explained why he felt matters would get a lot worse. He said war, like World War III, could break out as early as 2020. What did he call the ‘granddaddy of all cycles”? Will matters go as he said? What does the Bible teach? Dr. Thiel provides biblical insights that secular sources often miss. This is a video.
Europa, the Beast, and Revelation Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about “the Beast”? Is an emerging European power “the daughter of Babylon”? What is ahead for Europe? Here is a link to a video titled: Can You Prove that the Beast to Come is European?
European Technology and the Beast of Revelation Will the coming European Beast power would use and develop technology that will result in the taking over of the USA and its Anglo-Saxon allies? Is this possible? What does the Bible teach? Here is a related YouTube video: Military Technology and the Beast of Revelation.
When Will the Great Tribulation Begin? 2017, 2018, or 2019? Can the Great Tribulation begin today? What happens before the Great Tribulation in the “beginning of sorrows”? What happens in the Great Tribulation and the Day of the Lord? Is this the time of the Gentiles? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord? Who are the 144,000? Here is a version of the article in the Spanish language: ¿Puede comenzar la Gran Tribulación en 2016 o 2017? ¿Es el Tiempo de los Gentiles? You can also see the English language sermon videos: The Great Tribulation from the Mount of Olives and Can the Great Tribulation begin before 2020? A shorter video is: Will the Great Tribulation Start in 2017?
Two Horned Beast of Revelation and 666 Who is 666? This article explains how the COG views this, and compares this to Ellen White. Here is a link to a prophetic video Six Financial Steps Leading to 666?
The Mark of Antichrist What is the mark of Antichrist? What have various ones claimed? Here is a link to a related sermon What is the ‘Mark of Antichrist’?
Mark of the Beast What is the mark of the Beast? Who is the Beast? What have various ones claimed the mark is? What is the ‘Mark of the Beast’?
Must the Ten Kings of Revelation 17:12 Rule over Ten Currently Existing Nations? Some claim that these passages refer to a gathering of 10 currently existing nations together, while one group teaches that this is referring to 11 nations getting together. Is that what Revelation 17:12-13 refers to? The ramifications of misunderstanding this are enormous. A related sermon is titled Ten Kings of Revelation and the Great Tribulation.
World War III: Steps in Progress Are there surprising actions going on now that are leading to WWIII? Might a nuclear attack be expected? What about WWIV? Does the Bible promise protection to all or only some Christians? How can you be part of those that will be protected? A related video would be Is World War III About to Begin? Can You Escape?
Does God Have a 6,000 Year Plan? What Year Does the 6,000 Years End? Was a 6000 year time allowed for humans to rule followed by a literal thousand year reign of Christ on Earth taught by the early Christians? Does God have 7,000 year plan? What year may the six thousand years of human rule end? When will Jesus return? 2026 or 20xx? There is also a video titled 6000 Years: When will God’s Kingdom Come? Here is a link to the article in Spanish: ¿Tiene Dios un plan de 6,000 años?
The Plain Truth About Gold in Prophecy. How Should a Christian View Gold? What do economists and the Bible teach about gold? Gold and silver may drop in value. Inflation/deflation? What do Christians need to know about gold?
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