Global Research, October 14, 2013
We assume it is a coincidence that on the day in which we demonstrate Chinas relentless appetite for gold, driven by what we and many others believe is the countrys desire to have a call option on a gold-backed reserve currency when the time comes, just posted in Chinas official press agency, Xinhua, is an op-ed by writer Liu Chang in which he decries the US fiscal failure which warrants a de-Americanized world and flatly states that the world should consider a new reserve currency
that is to be created to replace the dominant U.S. dollar, so that the international community could permanently stay away from the spillover of the intensifying domestic political turmoil in the United States.
Of course, if China were serious, and if the world were to voluntarily engage in such a (r)evolutionary reserve currency transition, then all Magic Money Tree theories that the only thing better than near infinite debt is beyond infinite debt, would promptly be relegated to the historic dust heap of idiotic theories where they belong.
Some of Chinas (which as a reminder is the single largest offshore holder of US Treasury paper, and the second largest of all only second naturally to the Federal Reserve whose $85 billion in monthly monetizing flow is what is keeping rates from exploding higher) thoughts as captured in the Xinhua Op-ed:
Read more China Calls For New Reserve Currency, And New World Order | Global Research
We assume it is a coincidence that on the day in which we demonstrate Chinas relentless appetite for gold, driven by what we and many others believe is the countrys desire to have a call option on a gold-backed reserve currency when the time comes, just posted in Chinas official press agency, Xinhua, is an op-ed by writer Liu Chang in which he decries the US fiscal failure which warrants a de-Americanized world and flatly states that the world should consider a new reserve currency
that is to be created to replace the dominant U.S. dollar, so that the international community could permanently stay away from the spillover of the intensifying domestic political turmoil in the United States.
Of course, if China were serious, and if the world were to voluntarily engage in such a (r)evolutionary reserve currency transition, then all Magic Money Tree theories that the only thing better than near infinite debt is beyond infinite debt, would promptly be relegated to the historic dust heap of idiotic theories where they belong.
Some of Chinas (which as a reminder is the single largest offshore holder of US Treasury paper, and the second largest of all only second naturally to the Federal Reserve whose $85 billion in monthly monetizing flow is what is keeping rates from exploding higher) thoughts as captured in the Xinhua Op-ed:
Read more China Calls For New Reserve Currency, And New World Order | Global Research
