Reserve Currency Cold War: Dollar vs. Yuan (2)

02 Oct 2012

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Yen and Dollar Notes

It's not whether, how soon yuan beats dollar
Like Rome, America is an empire built on conquest and plunder. Overstretched militarily and materially, it's now a rotten and impoverished empire. Just like Rome's last years, America's irreversible decline is from within. And with no more nations to plunder, it now turns to printing highly-inflationary dollars to fill the huge holes its ever-bulging budget deficits and the ever-bloating social spending have created.

Understanding how America got to its present state of decay, requires understanding where it came from. Understanding that how while Britain handed the colonists political independence, by using Rothschild Mayer infiltrating to bug its financial economy, Britain never allowed America economic independence. So, the hands of a notorious international banking empire, controlling and manipulating America's money supply, Rothschild and with the help of his American foot soldiers, over time consolidated their economic and political control of America littering political system as well as the government with puppets.

By the time he died in 1812, he had already turned America into a private empire, with his foot soldiers littered all over the entire economic and political landscapes. But that did not mean there were no oppositions within. In fact, in most cases, fierce was how to describe the kind of oppositions coming from some ultranationalist presidents like Andrew Jackson, who narrowly escaped assassination for vetoing the bill extending the charter of the Second Bank of the United States, known to be owned by Rothschild and his US foot soldiers. Abraham Lincoln wasn't lucky enough as he was gunned down on April 15, 1865 for daring to finance the US Civil War with government's own $450 million rather than borrowing from the Rothschild banking empire.

But successfully eliminating oppositions came exactly at 11.30 pm on December 24, 1913. That Christmas Eve's coup d'état created the Federal Reserve System, a private central banking conglomerate with the power to print privately owned dollars and then loan them to the government at an interests. It was the perfect transformation of the US into a Rockefeller-Morgan empire without the public knowing it. Now the majority share holders in America's money supply, they used Fed in their toolkit beyond pursuit of monopoly and control in the US. Without any limit to their business empire, they went ahead seeking the same monopoly across the world, particularly in Europe.

Having failed in using WWI in Europe to bring the then wealthiest continent in the world under their control, they needed most devastating and deadliest war, WWII, to finally have Europe to become Rockefeller-Morgan economic protectorates. Stopping Russia from posing a threat to Rockefeller's Standard Oil's global oil monopoly, a devastating Bolshevik Revolution (1917—1918) was organized, which handed Russia's post-revolution rundown oil sector to Standard Oil almost free-of-charge.

But solving the problem of controlling vast territories and their enormous wealth, Rockefeller-Morgan as well as their associates knew the most lasting solution was in establishing clandestine institutions of control with razor-eyes on governments as well as on potential business oppositions to their monopoly. Soon armed with dreadful Council on Foreign Relations, Bilderberg Group, and Trilateral Commission, the skies became no longer the limits of their fascist capitalism around the world.

Just the same way allegiance to Rockefeller's CFR was mandatory for any politician wanting to occupy the White House allegiance to his Trilateral Commission was equally became inevitable for politicians seeking power in Europe, Japan, Canada or even anywhere in the world, especially where its interests needed to be fully protected. For large corporations and multinational giants worldwide joining Rockefeller's Bilderberg Group was the only way they could remain alive even though only on his term.

Because for fascist monopoly to prosper without much opposition, whether in the name of the trust, syndicate, cartel, or corporation, it requires maximum control of government all the way, adding the CIA to his dreadful toolkit to achieve the much needed full-spectrum dominance of the world economically and politically became the easiest way to propagate fascist capitalism. Besides espionage, high finance, and organized crime, taking full control of the fascist underworld, was a goal CIA has to pursue with vigor. But that too would require it working hand-in-hand with the Mafia, neo-chivalric orders, and the Knights of Malta. With the CIA helping hand, fascist corporations were turned into dangerous possessors of great power wielded over people, over society, and over government.

Admiring how ''so organized, so subtle, so watchful, so interlocked, so complete, and so pervasive that one'' his secret institutions exerted immense power over governments, David Rockefeller was happily announced, ''It does not matter how much money one has; unless it is employed to capture and control those organization that produce the ideas and policies that guide governments and the people who eventually serve in them, the real power of a great fortune will never be realized.''

President Franklin Roosevelt, even though was a puppet of the Rockefeller didn't resist publicly denouncing the very Establishment that brought to power, when he said, ''… as you and I know, financial element in the large centers has owned the government ever since the days of Andrew Jackson.''  Describing the horror working for Pentagon and CIA in the 1960s, Col Fletcher Prouty had it qualified this way, ''The US is run by a secret team, answerable only to themselves. Their power is derived from their vast covert intergovernmental infrastructure….The secret team includes Nazis brought into the US military-industrial complex after the war.'' No-nonsense US Senator Barry Goldwater, fearlessly calling the Bilderberg Group David Rockefeller's newest international cabal ''… intended to be the vehicle for multinational consolidation of the commercial and banking interests by seizing control of the political government of the United States.''
And allowing nothing in its legal makeup limit the pursuit of monopoly, free-enterprise never took place in its real sense in America, especially with such presence of an Establishment turned into blood-thirsty corporate shark. Devoid of competition, meant fabricating shortages or surpluses not only for stratospheric profit, but also in order to control markets, people, and governments. And control of those in government also meant having the US foreign policy, Wall Street, defense contracts, and global oil, all in his hands.

But besides the system engineering endless global wars, the presence of corruption-bugged fascist capitalism handing free-lunches rather than good paying jobs was also best way funnel high-interest loaded loans from Wall Street. So, decades of deindustrialization and financialization as pursued by the Rockefeller's Establishment, brought the chicken to back roust. With sudden attacks from the euro currency in early 2000s and with the epicenter of the global industrial economy shifting to China, thanks to a faulty globalist agenda, the continued de facto power of the dollar began to weaken as a reserve currency.

But the irreversible decline came precisely in 2008 during the ravaging financial crisis caused by the Las Vegas turned Wall Street, which fully exposed the façade solvency called credit system. With every remedy, whether using taxpayer dollars to bailout the largest Wall Street bank, or pumping billions into trying to save the Detroit auto industry, rather than solve the problem made the problem much worse. But preventing the system from completely seizing up, national liabilities now stand as tall as $66 trillion, roughly 5 times US GDP. Fully convinced that the end of the dollar is just around the corner, nations around have been running from the dollar to euro for dear foreign reserves. But with euro discovered to be somersaulting too, there is no other safe haven than the China's yuan.

With its unending matchless GDP growth, averaging 10% annually and unheard-of job breeding, averaging 12 million yearly, with not just 500 million Chinese lifted out of poverty, and 300 million already enjoying an ever-growing middle-class lifestyle, as world's economic marvel, yuan remains the only currency that can hold the liquidity and stability that twenty-first reserve currency must have.

Since continuing conducting its foreign trade with the dollar is like giving blood to a corpse, Beijing's ongoing divestment in the dollar is the only way Washington should be stopped from exporting from US inflation to China and the rest of the world. It is the only way to stop the rest of the world picking America's deficit bills, social security bills, medicare bills, defense bills, credit card bills, and most important, the pricing of global oil in petrodollars. According yuan the world’s reserve currency de facto power, is the only to put the world economy back on recovery track. With key global economic indicators showing the Chinese economy stronger, healthier, and more liquid than the US, and as IMF projected that China reaching a GDP of $19 trillion in 2016, China will become the world's largest economy, with the US trailing, it is high time yuan got ready for the much-expected replacement  of the dollar.

Fully aware of America's irreversible decline, nations and regions have started fast-tracking their eventual exit of the dollar. Besides the proliferation of bilateral swap agreements, regional and sub-regional economic blocs are fast integrating simply with the goal of exiting the dollar before it could be too late. Among these region-wide exit strategies are Chiang Mai Initiative Multilateralization (CMIM) agreement, the Gulf Cooperation Council (GCC) expected to lead to the establishment of a monetary union with a common currency, East Caribbean monetary union, the African Monetary Union with the goal of an African Monetary Union<> administered by the African Central Bank<>.

But there's no bilateral strategic swap partnership constituting more threats to the dollar than the one between China and Japan. Not only is the direct yen-yuan settlement now reducing currency risks and trading costs associated with the dollar, With bilateral trade reaching $347 billion in 2011, and saving both countries $3 billion in currency conversion cost, the yuan-denominated deposits and financial services are gaining grounds in Japan with big three Japanese financial groups, now allowing Japanese companies to hold yuan generated through trade as deposits.

Today, rather than Chinese officials pushing for yuan's replacement of the dollar, it is leading Asian economies like Japan and South Korea that are spearheading it. Not only will petroyuan bolster China's status in the international monetary system. As world's primary reserve currency, it will drastically lower Chinese oil import cost. But in order for petroyuan to take full life of its own as world's reserve currency, it should be convertible, currency, one that can be readily bought or sold without government restrictions. Soon, for the first time in known human history, a great nation will emerge not from conquest and plunder of weaker nations but out of sheer sacrifice and hard work of its own people.

Tags: Business, Cold War, World

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