Global Financial Update, the Currency Reset, and the Fiat System Demise
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We are watching the deterioration of the global financial system moving at a quicker pace. Clues are scattered everywhere; but unless you're watching carefully, you would probably miss the obvious. So we have constructed a list of events to point out where we are in this transition of the global financial reset.
Latest Development 2016-02-25 China is planning to launch its yuan gold fix April 19 and draft rules have been sent to 10 participating banks. This could be a game-changer for gold prices moving forward. http://www.kitco.com/news/2016-02-25/Analysts-Not-Surprised-Yuan-Gold-Fix-Could-Be-Launched-In-Two-Months.html China warned foreign banks that they must participate in Yuan-based gold price fixing or lose their Chinese gold import rights. |
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The world’s top producer and consumer of gold has been pushing to be a price-setter for bullion as part of a broader drive to boost its influence on global markets. Derived from a contract to be traded on the state-run Shanghai Gold Exchange, the Chinese benchmark is set to launch in April, potentially denting the relevance of the current global standard, the U.S. dollar-denominated London price. http://goldstockbull.com/articles/gold-price-discovery-moving-to-china-in-april/
BRICS BANK
The BRICS Bank's development was the first sign that the financial system is in a transition stage.
BYPASSING THE DOLLAR
As of July 2014, 25 countries created new swap lines outside of the dollar which includes China, Russia, India, Canada and surprisingly, Germany, France, and the United Kingdom. This means that the Eurozone itself is abandoning the dollar, and preparing for a transition to a new central banking system. https://deusnexus.wordpress.com/2013/11/25/23-countries-bypass-dollar/
Russia has launched its own 'SWIFT'-alternative, linking 91 credit institutions initially, suggests de-dollarization is considerably further along than many expected (especially as Russia dumps US Treasuries at a record pace). (02/18/2015) http://www.zerohedge.com/news/2015-02-18/de-dollarization-accelerates-russia-launches-swift-alternative-linking-91-entities
The BRICS Bank's development was the first sign that the financial system is in a transition stage.
BYPASSING THE DOLLAR
As of July 2014, 25 countries created new swap lines outside of the dollar which includes China, Russia, India, Canada and surprisingly, Germany, France, and the United Kingdom. This means that the Eurozone itself is abandoning the dollar, and preparing for a transition to a new central banking system. https://deusnexus.wordpress.com/2013/11/25/23-countries-bypass-dollar/
Russia has launched its own 'SWIFT'-alternative, linking 91 credit institutions initially, suggests de-dollarization is considerably further along than many expected (especially as Russia dumps US Treasuries at a record pace). (02/18/2015) http://www.zerohedge.com/news/2015-02-18/de-dollarization-accelerates-russia-launches-swift-alternative-linking-91-entities
Ruble-Yuan futures started trading March 17 and the two currencies are expected to be the third most popular by volume, says Moscow Exchange (MOEX) Deputy Chairman Andrey Shemetov. This affirms the reduction of dependence on the US dollar. http://rt.com/business/240137-ruble-yuan-currency-pair/
March 13, 2015 The United Kingdom announced that they would be applying to join the Chinese-led Asian Infrastructure Investment Bank. New Zealand was the first western nation to join the Asian Infrastructure Investment Bank (AIIB) back in October and March 12, 2015 Britain announced its intention to become the second. This is a massive blow to the United States' dollar. http://www.sovereignman.com/finance/et-tu-britain-united-kingdom-to-join-china-in-the-anti-dollar-alliance-16482/?inf_contact_key=e91e23a28ffeeca04d7e1e7058236d88ecbe03f0cbb69b57e5045195d4e2a6ae#video
Mar 17, 2015 France, Germany, and Italy have now all agreed to join the development bank as 'pivot to Asia' appears to be Plan B for Europe. http://www.zerohedge.com/news/2015-03-17/plan-b-major-european-allies-desert-obama-join-china-led-infrastructure-bank
(Mar 25, 2014) Britain, Germany, France, and Italy are reported to have defied Washington’s orders and applied to join the Chinese-led Asian Investment Bank. Australia, Japan, South Korea, Switzerland and Luxembourg might also join. http://www.rumormillnews.com/cgi-bin/forum.cgi?read=13529
Forty-six countries had joined or applied to become founding members of the China-led Asian Infrastructure Investment Bank (AIIB). The final list of founding members will be decided as early as April 15. After that date, countries can apply to join as ordinary members. http://usa.chinadaily.com.cn/world/2015-04/01/content_19965536.htm
March 13, 2015 The United Kingdom announced that they would be applying to join the Chinese-led Asian Infrastructure Investment Bank. New Zealand was the first western nation to join the Asian Infrastructure Investment Bank (AIIB) back in October and March 12, 2015 Britain announced its intention to become the second. This is a massive blow to the United States' dollar. http://www.sovereignman.com/finance/et-tu-britain-united-kingdom-to-join-china-in-the-anti-dollar-alliance-16482/?inf_contact_key=e91e23a28ffeeca04d7e1e7058236d88ecbe03f0cbb69b57e5045195d4e2a6ae#video
Mar 17, 2015 France, Germany, and Italy have now all agreed to join the development bank as 'pivot to Asia' appears to be Plan B for Europe. http://www.zerohedge.com/news/2015-03-17/plan-b-major-european-allies-desert-obama-join-china-led-infrastructure-bank
(Mar 25, 2014) Britain, Germany, France, and Italy are reported to have defied Washington’s orders and applied to join the Chinese-led Asian Investment Bank. Australia, Japan, South Korea, Switzerland and Luxembourg might also join. http://www.rumormillnews.com/cgi-bin/forum.cgi?read=13529
Forty-six countries had joined or applied to become founding members of the China-led Asian Infrastructure Investment Bank (AIIB). The final list of founding members will be decided as early as April 15. After that date, countries can apply to join as ordinary members. http://usa.chinadaily.com.cn/world/2015-04/01/content_19965536.htm
RMB HUBS SETUP
RMB (Renminbi) hubs for Chinese currency swaps were set up in many of the above listed countries; more than 10,000 financial institutions are doing business in RMB and foreign exchange (FX) reforms are evolving rapidly while full convertibility is expected in the near future. (This alone should tell you that changes are coming)
11/30/2015 China’s Yuan Joins SDR Basket As IMF Reserve Currency. Effective October 1, 2016 the RMB is determined to be a freely usable currency and will be included in the SDR basket as a fifth currency, along with the U.S. dollar, the euro, the Japanese yen and the British pound. http://www.imf.org/external/np/sec/pr/2015/pr15540.htm?hootPostID=047781b4a3f9970228cd41f8e4d53b02
The Chinese have put out billboard ads announcing the Renminbi as the new world currency; you can check it out in this article published March 4, 2015: http://www.sovereignman.com/trends/the-chinese-have-put-out-billboard-ads-announcing-the-renminbi-as-the-new-world-currency-16318/
A senior Chinese central bank official said Thursday Mar 12, 2015 that the country is “actively communicating” with the IMF on the possibility of including the Yuan or RMB, in the basket of the Special Drawing Rights (SDRs). This will allow the yen to become officially a world reserve currency. http://thebricspost.com/china-imf-talks-underway-to-endorse-yuan-as-global-reserve-currency/#.VQHVVeEYHyJ
China own approximately 1.3 trillion dollars worth of the United States’ debt and that gives them a lot of power over the US’ currency and the financial system. What also gives china leverage, is the fact that they have been buying the US’ real estate and businesses in large quantities; so when China decides that the Dollar needs to step aside for the Renminbi they will have no problems what so ever doing it. Here is a short video giving a sample of how much china has already spent on investments in the United States. https://www.youtube.com/watch?feature=player_embedded&v=GKPjhDYvkfg
CENTRAL BANKS ARE STOCKING UP ON PRECIOUS METALS, GOLD AND SILVER
The world’s central banks have shifted from being net sellers of gold to net purchasers of significant quantities of gold jumping close to a 50-year high; which means governments around the world are starting to distrust the dollar and beginning to panic. (Ask yourself this; if everything is great why all of a sudden central banks around the world are buying large sums of gold?! Because they are preparing for this change.)
Bloomberg : Central Banks Are Boosting Their Gold Reserves http://www.bloomberg.com/news/articles/2015-02-12/central-banks-hungry-for-gold-bought-enough-for-75-dreamliner
RMB (Renminbi) hubs for Chinese currency swaps were set up in many of the above listed countries; more than 10,000 financial institutions are doing business in RMB and foreign exchange (FX) reforms are evolving rapidly while full convertibility is expected in the near future. (This alone should tell you that changes are coming)
11/30/2015 China’s Yuan Joins SDR Basket As IMF Reserve Currency. Effective October 1, 2016 the RMB is determined to be a freely usable currency and will be included in the SDR basket as a fifth currency, along with the U.S. dollar, the euro, the Japanese yen and the British pound. http://www.imf.org/external/np/sec/pr/2015/pr15540.htm?hootPostID=047781b4a3f9970228cd41f8e4d53b02
The Chinese have put out billboard ads announcing the Renminbi as the new world currency; you can check it out in this article published March 4, 2015: http://www.sovereignman.com/trends/the-chinese-have-put-out-billboard-ads-announcing-the-renminbi-as-the-new-world-currency-16318/
A senior Chinese central bank official said Thursday Mar 12, 2015 that the country is “actively communicating” with the IMF on the possibility of including the Yuan or RMB, in the basket of the Special Drawing Rights (SDRs). This will allow the yen to become officially a world reserve currency. http://thebricspost.com/china-imf-talks-underway-to-endorse-yuan-as-global-reserve-currency/#.VQHVVeEYHyJ
China own approximately 1.3 trillion dollars worth of the United States’ debt and that gives them a lot of power over the US’ currency and the financial system. What also gives china leverage, is the fact that they have been buying the US’ real estate and businesses in large quantities; so when China decides that the Dollar needs to step aside for the Renminbi they will have no problems what so ever doing it. Here is a short video giving a sample of how much china has already spent on investments in the United States. https://www.youtube.com/watch?feature=player_embedded&v=GKPjhDYvkfg
CENTRAL BANKS ARE STOCKING UP ON PRECIOUS METALS, GOLD AND SILVER
The world’s central banks have shifted from being net sellers of gold to net purchasers of significant quantities of gold jumping close to a 50-year high; which means governments around the world are starting to distrust the dollar and beginning to panic. (Ask yourself this; if everything is great why all of a sudden central banks around the world are buying large sums of gold?! Because they are preparing for this change.)
Bloomberg : Central Banks Are Boosting Their Gold Reserves http://www.bloomberg.com/news/articles/2015-02-12/central-banks-hungry-for-gold-bought-enough-for-75-dreamliner
The big news is that HSBC are all of a sudden closing all 7 of its gold vaults in London. Why are they doing that when it is a very profitable business for them to begin with? And where is the gold going?! http://kingworldnews.com/celente-closing-london-gold-vaults-will-shake-world/
If you want to know the answer for the above questions; then take a look at this report (March 7th, 2015) China takes control of gold pricing on March 20th backed by deep pockets and by the largest single stockpile; While the west is in economic and political denial about everything! http://investmentwatchblog.com/china-takes-control-of-gold-pricing-on-march-20th/#cdzxmmiV7PA6p2r5.99
If you want to know the answer for the above questions; then take a look at this report (March 7th, 2015) China takes control of gold pricing on March 20th backed by deep pockets and by the largest single stockpile; While the west is in economic and political denial about everything! http://investmentwatchblog.com/china-takes-control-of-gold-pricing-on-march-20th/#cdzxmmiV7PA6p2r5.99
Although this article has not been confirmed yet; we wanted you to know about its existence just in case. From the PRESSWIRE: Board of Governors of World Bank and IMF announce transition to asset-backed currencies - Washington DC, United States - 09 March 2015 - The Board of Governors of the World Bank and IMF announced that fractional reserve fiat currencies will be replaced with gold from a trust created at the end of World War II. Please read about it here; http://presswire.com/content/1324064/board-governors-world-bank-and-imf-announce-transition-asset-backed-currencies
Iraq buys 48 tonnes of gold (...and is also used as a cover for the process of deletion of zeros from the Iraqi currency) the World Gold Council (WGC) announces the purchase of the Central Bank of Iraq's 48 tonnes of gold during 2014 http://goingglobaleastmeetswest.blogspot.ca/2015/02/iraq-buys-48-tonnes-of-gold-and-is-also.html
Keep in mind that all the countries around the globe have been purchasing hoards of gold and silver at controlled low prices for years. When these precious metals become less available, gold and resource backed currencies would be triggered.
Keep in mind that all the countries around the globe have been purchasing hoards of gold and silver at controlled low prices for years. When these precious metals become less available, gold and resource backed currencies would be triggered.
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DOLLAR DEPEG AND THE FIAT SYSTEM DEMISE
Recently there have been some depegging movements; countries which are not considered to effect major world economies but nonetheless feel the urgency to depeg their currency from the dollar. Watch for the escalation to continue as more countries turn away from the dollar. Azeri central bank abandons currency peg to U.S. dollar (Mon Feb 16, 2015) http://www.reuters.com/article/2015/02/16/azerbaijan-currency-dollar-idUSL5N0VQ2F520150216 De-Dollarization Complete: Iran Abandons US Dollar In Foreign Trade. As Bloomberg also reports; Iran is no longer using US Dollars in foreign trade (01/24/2015) http://www.zerohedge.com/news/2015-01-24/de-dollarization-complete-iran-abandons-us-dollar-foreign-trade Ukraine Forex market in confusion after bank removes unofficial peg http://www.reuters.com/article/2015/02/06/ukraine-crisis-hryvnia-idUSL6N0VG1TM20150206 |
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THE FAILURE OF THE EURO
The Swiss franc rose significantly against the euro and US dollar after Switzerland removed the enforced ceiling of SFr1.20 per euro. It sent shock waves rumbling through the global markets. http://www.marketwatch.com/story/swiss-move-is-small-preview-of-what-would-happen-in-euro-breakup-2015-01-20
(January 15, 2015)Minutes after a shock announcement from the Swiss central bank that it was abandoning the peg from the euro, the safe haven Swiss currency strengthened almost 30 percent against the common European currency before easing back to 1.0421. It was like Christmas morning for People who were holding Swiss francs and living in Europe, lines were forming in front of the currency exchange centers making 30% more on their currency. http://australia.news.net/article/2667466/like-christmas-rush-to-cash-in-on-soaring-swiss-franc
Think for a second; if other countries that has no national debt, depeg from the dollar or the EURO, what would happen to their currency? Switzerland is the first country to leave the euro, but it may not be the last.
Hungary has not only managed to pay down their near $26 billion IMF loan, but did so early. In 2013, with just $2 billion in payments left to go, Prime Minister Orban actually requested, via the central bank, that IMF officials should pack their bags and leave, noting that their “services” were no longer needed! He also banned all GMO’s from their country’s agricultural scene and In fact, in 2010, he placed a tax upon banks (rather than cut pensions, as the IMF suggested) and passed a law recently allowing a Russian pipe line through without consulting Brussels! That is just so funny, read all about it here; http://thewealthwatchman.com/the-newest-country-to-defy-the-banksters/
Greece’s debt is a fraud and a swindle by the Wall Street Banks; the Greek government actually got to spend or invest just 3% of that $275 billion. The only banks which had to write off their "Greek debt" were Greek banks; all of Wall Street and the London-centered banks got their toxic debt "assets" guaranteed 100% by this European bailout swindle. This made the Greek banks so bankrupt that the Greek government then had to borrow more to bail them out with $50 billion Read about it here; https://larouchepac.com/20150219/debt-fraud-greece-actually-owes-nothing
IMF director Batista admitted in an interview that “They gave money to save German and French banks, not Greece,” You can listen to the interview here https://www.youtube.com/watch?feature=player_embedded&v=mIgPcFSe7RE
The ECB choose to entirely ignore the consequences of their actions, in particular the humanitarian crisis they have caused in Greece. Varoufakis the current Finance Minister of Greece has come to the conclusion that the Eurozone must and will implode no matter what anybody does. The extension they were given was just kicking the can down the road, it does not change the fact that Greece is broke and can’t pay this obscured fraudulent debt. Interestingly this article appears (02/26/2015) “Greece Warns It May Default on IMF Loan as Soon as Next Week.” http://www.fromthetrenchesworldreport.com/greece-warns-it-may-default-on-imf-loan-as-soon-as-next-week/124414
The four-month extension secured by the Greek finance minister, Yanis Varoufakis, on Friday came with the condition in which Varoufakis has suggested balancing the budget with imposing austerity on the financial class, on the tycoons, on the tax dodgers. But it did not sit well with the banks because that means the money sitting in their banks which belongs to the wealthy, is going to be paid back to them; but they already have it, so in order to get more wealth they instead wanted to squeeze the working class out of their money. http://www.4thmedia.org/2015/02/greece-proposing-austerity-on-the-banking-class-rather-than-the-working-class/
If Greece leaves, it won’t leave alone. Other countries like Spain and Italy are just waiting to jump on the band wagon of leaving the EURO.
Another article appears on the FXSTREET website with this title: Greece Buys Gold Sovereigns as New Greek Drachmas Unveiled (Feb 27 2015 written by Mark O'Byrne) http://www.fxstreet.com/analysis/gold-investments-market-update/2015/02/27/
News came out that the Irish government has contingency plans for the collapse of the euro including a return to the Irish national currency – the Irish punt. http://sputniknews.com/business/20150227/1018861168.html
So what does that tells you? It shows that the plan behind the scene is not what being displayed in public.
The IMF is the world’s foremost predatory lender. You must read this amazing article on what really did happened in Ukraine titled; “NATO & the IMF Just Suffered a Disastrous Military Defeat” http://thewealthwatchman.com/nato-the-imf-just-suffered-a-disastrous-military-defeat/
The Swiss franc rose significantly against the euro and US dollar after Switzerland removed the enforced ceiling of SFr1.20 per euro. It sent shock waves rumbling through the global markets. http://www.marketwatch.com/story/swiss-move-is-small-preview-of-what-would-happen-in-euro-breakup-2015-01-20
(January 15, 2015)Minutes after a shock announcement from the Swiss central bank that it was abandoning the peg from the euro, the safe haven Swiss currency strengthened almost 30 percent against the common European currency before easing back to 1.0421. It was like Christmas morning for People who were holding Swiss francs and living in Europe, lines were forming in front of the currency exchange centers making 30% more on their currency. http://australia.news.net/article/2667466/like-christmas-rush-to-cash-in-on-soaring-swiss-franc
Think for a second; if other countries that has no national debt, depeg from the dollar or the EURO, what would happen to their currency? Switzerland is the first country to leave the euro, but it may not be the last.
Hungary has not only managed to pay down their near $26 billion IMF loan, but did so early. In 2013, with just $2 billion in payments left to go, Prime Minister Orban actually requested, via the central bank, that IMF officials should pack their bags and leave, noting that their “services” were no longer needed! He also banned all GMO’s from their country’s agricultural scene and In fact, in 2010, he placed a tax upon banks (rather than cut pensions, as the IMF suggested) and passed a law recently allowing a Russian pipe line through without consulting Brussels! That is just so funny, read all about it here; http://thewealthwatchman.com/the-newest-country-to-defy-the-banksters/
Greece’s debt is a fraud and a swindle by the Wall Street Banks; the Greek government actually got to spend or invest just 3% of that $275 billion. The only banks which had to write off their "Greek debt" were Greek banks; all of Wall Street and the London-centered banks got their toxic debt "assets" guaranteed 100% by this European bailout swindle. This made the Greek banks so bankrupt that the Greek government then had to borrow more to bail them out with $50 billion Read about it here; https://larouchepac.com/20150219/debt-fraud-greece-actually-owes-nothing
IMF director Batista admitted in an interview that “They gave money to save German and French banks, not Greece,” You can listen to the interview here https://www.youtube.com/watch?feature=player_embedded&v=mIgPcFSe7RE
The ECB choose to entirely ignore the consequences of their actions, in particular the humanitarian crisis they have caused in Greece. Varoufakis the current Finance Minister of Greece has come to the conclusion that the Eurozone must and will implode no matter what anybody does. The extension they were given was just kicking the can down the road, it does not change the fact that Greece is broke and can’t pay this obscured fraudulent debt. Interestingly this article appears (02/26/2015) “Greece Warns It May Default on IMF Loan as Soon as Next Week.” http://www.fromthetrenchesworldreport.com/greece-warns-it-may-default-on-imf-loan-as-soon-as-next-week/124414
The four-month extension secured by the Greek finance minister, Yanis Varoufakis, on Friday came with the condition in which Varoufakis has suggested balancing the budget with imposing austerity on the financial class, on the tycoons, on the tax dodgers. But it did not sit well with the banks because that means the money sitting in their banks which belongs to the wealthy, is going to be paid back to them; but they already have it, so in order to get more wealth they instead wanted to squeeze the working class out of their money. http://www.4thmedia.org/2015/02/greece-proposing-austerity-on-the-banking-class-rather-than-the-working-class/
If Greece leaves, it won’t leave alone. Other countries like Spain and Italy are just waiting to jump on the band wagon of leaving the EURO.
Another article appears on the FXSTREET website with this title: Greece Buys Gold Sovereigns as New Greek Drachmas Unveiled (Feb 27 2015 written by Mark O'Byrne) http://www.fxstreet.com/analysis/gold-investments-market-update/2015/02/27/
News came out that the Irish government has contingency plans for the collapse of the euro including a return to the Irish national currency – the Irish punt. http://sputniknews.com/business/20150227/1018861168.html
So what does that tells you? It shows that the plan behind the scene is not what being displayed in public.
The IMF is the world’s foremost predatory lender. You must read this amazing article on what really did happened in Ukraine titled; “NATO & the IMF Just Suffered a Disastrous Military Defeat” http://thewealthwatchman.com/nato-the-imf-just-suffered-a-disastrous-military-defeat/
THE POINT OF NO RETURN
Western governments are already bankrupt; they are paying interest yearly on borrowed money which is more than all the collected taxes in a year. Trust funds in the United States are in a terrible shape; Social Security & Medicare funds are running out of money and the disability trust fund is going broke in 2016! The Federal Reserve, the Bank of Canada, the Bank of Japan and the ECB are practically insolvent; 20 central banks lowering rates in just six-weeks. How exactly are they going to dig their way out of that? Banks with negative interest rates are basically telling investors to lend insolvent governments money and also pay interest for this privilege; that is what negative interests is all about. So where is all the money going? They invested them in wars, drones, body scanners, and secret technology that the public would never be allowed to know about which only benefits them militarily. Listen to an expert’s explanation of it here; http://traffic.libsyn.com/sovman/SM033.mp3
This is just the beginning of the fall of the old crumbling abused economic system. Hold on to your seats and buckle your seat belts because the ride is going to get very bumpy. We will be updating this page regularly as more news comes out pointing to the changes occurring to currencies around the world, and the restructuring of a new financial system coming to a country near you. The currency reset is knocking and the door is about to open.
Western governments are already bankrupt; they are paying interest yearly on borrowed money which is more than all the collected taxes in a year. Trust funds in the United States are in a terrible shape; Social Security & Medicare funds are running out of money and the disability trust fund is going broke in 2016! The Federal Reserve, the Bank of Canada, the Bank of Japan and the ECB are practically insolvent; 20 central banks lowering rates in just six-weeks. How exactly are they going to dig their way out of that? Banks with negative interest rates are basically telling investors to lend insolvent governments money and also pay interest for this privilege; that is what negative interests is all about. So where is all the money going? They invested them in wars, drones, body scanners, and secret technology that the public would never be allowed to know about which only benefits them militarily. Listen to an expert’s explanation of it here; http://traffic.libsyn.com/sovman/SM033.mp3
This is just the beginning of the fall of the old crumbling abused economic system. Hold on to your seats and buckle your seat belts because the ride is going to get very bumpy. We will be updating this page regularly as more news comes out pointing to the changes occurring to currencies around the world, and the restructuring of a new financial system coming to a country near you. The currency reset is knocking and the door is about to open.
