China’s Yuan Joins Top Five Payment Currencies

China’s currency has been outrunning both the Canadian and Australian dollars since November, according to a SWIFT statement. Some experts say the yuan could eventually overtake the American dollar share in international markets.

MOSCOW, January 28 (Sputnik) — The Chinese yuan has become the world’s fifth most used payment currency, data from the SWIFT banking transaction network showed Wednesday. Continue reading

Who Is The New Secret Buyer Of U.S. Debt?

On the surface, the economic atmosphere of the U.S. has appeared rather calm and uneventful. Stocks are up, employment isn’t great but jobs aren’t collapsing into the void (at least not openly), and the U.S. dollar seems to be going strong. Peel away the thin veneer, however, and a different financial horror show is revealed.

Employment has been boosted only in statistical presentation, and not in reality. The Labor Department’s creative accounting of job numbers omits numerous factors, the most important being the issue of long term unemployed. Millions of people who have been jobless for so long they no longer qualify for benefits are being removed from the rolls. This quiet catastrophe has the side bonus of making it appear as though unemployment is going down. Continue reading

Preparing For A Reset Of The World’s Reserve Currency

The eventual death of the U.S. Dollar is a given and not up for debate. This will, however,  sound alien and come as a shock to most living in the west who continue to go on living while turning a blind eye to current events.

Willem Middelkoop and Terence van der Hout of the Netherlands-based Commodity Discovery Fund believe that when the world’s reserve currency is reset away from the U.S. dollar in the next decade, gold prices will rise and mining equities will follow. Van der Hout and Middelkoop tell The Gold Report that by focusing on producers, near-producers ,and turnaround stories, they plan to capitalize on the opportunities in North America, Africa and beyond.

The Gold Report: Willem, your first book predicted the collapse of the global financial system a year before the 2008 fall of Lehman Bros. In your new book “The Big Reset: War on Gold and the Financial Endgame,” you’re predicting the demise of the dollar as the reserve currency by 2020. You said it can occur as a carefully planned event or as the result of a crisis. What would these two scenarios look like?

Willem Middelkoop: Authorities always prefer to act within a well-planned scenario. The U.S. and the International Monetary Fund (IMF) understand that the U.S. dollar has to be replaced one day. It could be 2020. It could be 2018. It could be 2023. It has to be replaced by another anchor to support the worldwide monetary system. Continue reading

Wider use of RMB abroad opens prospects for banks and SMEs

The growing stature of the Chinese yuan in global trade and finance has brought exciting opportunities in yuan-related businesses, said Standard Chartered Group CEO Peter Sands in Beijing on Tuesday.

The renminbi is now among the most actively traded currencies in the world as the Chinese government moves to make it easier for the yuan to flow across its borders.

“We are very excited at the prospects of the renminbi becoming even more integrated into the global economy,” said Sands, who is accompanying British Prime Minister David Cameron on his second visit to China since taking office. Continue reading

Ned Goodman:The dollar is about to be dethroned as the world’s de facto currency (Video)

The Fed will very likely never ‘taper’.  If so, there will be a bond sell off which would quickly spiral out of control. Quantitative easing, or QE, will be permanent until it eventually causes a collapse.

The Fed not tapering is also supported by Egon von Greyerz, the founder of Matterhorn Asset Management in Switzerland, in an interview just two days ago.

The ‘day of reckoning’ is indeed coming. The question is not if, but when.

On Sept. 15, Canadian billionaire Ned Goodman spoke at the Cambridge House regarding the U.S. dollar, and the state of the Western economies. In his nearly eight minute speech, the 75 year old CEO of Dundee Capital Markets and Chancellor of Brock University painted a picture of the upcoming change in reserve currency control by the U.S., and how the dollar will soon be replaced as nations around the world rush to get rid of their currency reserves.

Ned Goodman: In my view, the dollar is about to become dethroned as the world’s de facto currency. I’ll tell you how I came to that conclusion so quickly… the new President of China, Xi Jinping, his first visit on the day of his becoming President, was at his request to meet with Mr. Putin. And he immediately made a deal with Mr. Putin to get all the oil that he needs, which he can buy in Renminbi.

We’re headed to a period of stagflation, maybe serious inflation, but stagflation for sure, and the United States will be losing the privilege to print at its will, the world’s reserve currency. A period that’s going to be very inflationary, and I can tell you that before that happens, it is likely that it is going to get quite ugly. – Ned Goodman, Cambridge House Continue reading

Yuan now one of world’s most tradable currencies

Within the next few years, look for the yuan/renminbi to become one of the world’s ‘convertable currencies.’ There are only seven at the time being.

For the first time ever, the Chinese yuan is one of the world’s ten most frequently traded currencies, according to a Bank of International Settlements (BIS) survey.

The currency ranked ninth on the bank’s top-ten list, jumping eight places from the seventeen spot it held when the survey was last conducted three years ago. Continue reading

New Zealand, China in Talks on Convertibility of Currencies

The world is leaving the US Dollar, one country at a time, and America is too busy following the Kardashians to notice.

WELLINGTON, New Zealand—Seeking to help its exporters, New Zealand is negotiating with China to make their currencies directly convertible, a spokeswoman for Prime Minister John Key said.

Talks are in the “very early stages” and “progressing,” the spokeswoman said, adding that the issue had been brought up during Mr. Key’s visit to China last month.

Direct convertibility between the Chinese yuan and New Zealand dollar would end the need for New Zealand’s companies and currency traders to convert New Zealand dollars or yuan into U.S. dollars when making or receiving payments. Continue reading

China May Now Have World’s 2nd Largest Gold Reserves

Today acclaimed money manager Stephen Leeb stunned King World News when he said the Chinese may already have the world’s second largest gold reserves, eclipsing Germany to grab the number two spot.  Leeb knows China is incredibly secretive about its insatiable accumulation of gold, and believes they are not fully disclosing their entire gold position to the world at this point.  Here is what Leeb had to say:  “I’m focused on precious metals and this fascinating battle between the East and the West, Eric, especially China and the United States.  There is an economic ‘Battle Royale’ going on right now, and I think the Chinese definitely have the upper hand.”

“They have a stronger economy and a clear plan as to what they want to accomplish.  They have a much longer-term perspective, and this spells very, very tough times for the United States.  I wish it weren’t true, and I wish this country would wake up. Continue reading

The World Continues Preparations for the End of the Global Dollar-Based Ecosystem

As the Western world enjoyed their Christmas holidays, news broke in Asia of something that was reported in the media but received very little attention.

History may treat this event as something all together of much larger importance than is currently understood. Future Americans will ask why the U.S government could not see the writing on the wall? That is, tools are being put in place that will end the global dollar-based ecosystem.

Continue reading article: The World Continues Preparations for the End of the Global Dollar-Based Ecosystem (Financial Sense)