China Says “NO DOLLARS” For New Gold-Backed Yuan

 

“The metal god is a sign of power and stability for man; it will fall and succumb and will not rise again. Humankind will accept what is offered to them, they will accept being marked, and in view of a single value, without hesitation they will give themselves to the clutches of the announced enemy of this generation.” Light of Mary- April 17, 2016

China’s currency may be the new world currency as the US Dollar falls to the wayside and since April 14, 2016, China has declared that it will not support US Dollars for its new currency backed by gold.

When the International Monetary Fund (IMF) agreed to add the Yuan to the basket of world currencies used for Global Reserves and International Trade, they wanted China to make the Yuan more reliable as a currency. Since then, China has almost un-pegged its Yuan from the Dollar, allowing its value to fluctuate on world markets.

But for years, China has been amassing huge amounts of gold bullion; some have said their appetite for bullion has been “staggering.”  And with a new gold-backed Yuan to be issued next Tuesday, the entire world will have a choice of a new currency to use for international trade:  The old US Dollar which is backed by nothing, or the new Chinese Yuan, which is backed by gold.  Which currency would YOU use?

When this new currency is issued, countries that have been forced to use US Dollars for decades, and have had to keep billions of dollars in their foreign currency reserves, will be free to dump those dollars.  But they won’t be able to dump them to China for the new gold-backed, Yuan!

China has reportedly decided “there can be no conversion of gold-backed Yuan to or from US dollars.”  What China fears is that many countries around the world will want to trade their reserve US dollars  for the new Yuan, leaving China with mountains of worthless US dollars.  China already has several trillion in US dollar reserves and does not want or need more.

Also, Cosmic Awareness wrote about the collapse of the US Dollar as early as May 02, 2016:

“However if an economic event of great magnitude
to were to occur and that the economic backing of the American dollar crumbles,
is devalued, then the situation will grow much worse.

This Awareness is here
to say that at this time, one of the events that the United States and the
world itself globally, is being moved towards is the collapse of the American
dollar as the currency of international standing. There are events taking place
at this time: meetings between the bankers and the President and the Vice
President, all in secret. There are negotiations underway that are pushing a
China agenda, that there is a very strong likelihood of a collapse of the
American economy in the next few weeks.”

In addition, Cosmic Awareness added:

“That China is that nation at this time that is in the strongest
economic position for they have gold and that there are manipulations and plans
to move the international currency away from America and to China, thus the UN,
the Yuan, the Chinese currency becomes the international currency and this is
very close to happening, and if it does happen a series of events will occur in
the United States that will see the devaluation of the American dollar.

That these will be in preceded by a closing of
the banks, that which will be called a bank holiday and that when the banks
open again the dollar that was valued at one level will be much lower, having
been devalued and that this will send shock waves through America and that
there will be many collapses of many businesses and that many will find
themselves in economic destitution and despair. That this can even happen as
soon as May 2nd.”

http://investmentwatchblog.com/china-says-no-dollars-for-new-yuan/

http://melbrake@wordpress.com

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About melbrake

Mel Brake is an awarding winning Philadelphia based poet/singer/song writer, whose poetry has appeared in several media outlets and journals, including Philadelphia Poets 2007, 2008 and 2009, Mad Poets Review, Fox Chase Review, and The Philadelphia Bulletin. In addition, Long Island Sounds: An Anthology of Poetry, Writing Outside The Lines (WOSTL) Anthology, Word Riot Magazine, The New Verse News, Word Salad Magazine and Poetry Ink 2010 has published his works. Recently, his band, the Mel Brake Family Band performed a benefit concert at Cross Road Café in Delaware County. He is the Founder and Executive Director of MPW, a non-profit organization, focusing on using the arts to reach children in the Tri-state area. In addition, his first chapbook, “Obama Poetry Project” is available at: MelBrakEpress.blogspot.com.
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