The following article is long but extremely important to understand for our ability to survive what's very likely to happen, sooner than we may think. The article is by Jim Willie who writes articles for Kitco.com It's titled "Loud Paradigm Shift Rumblings" Kitco - Commentaries - Jim Willie CB
World Reserve Currency Change In The Wind!
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From looking at all the things China is doing, including once again buying copper, I suspect they are pushing to have the Yuan as a global currency as it is they are already dealing with Brazil and a number of other nations on a Yuan basis.
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It'll never happen. The chinese currency has as much artificial manipulation as the U.S. dollar. If you buy into using the Yuan you're at the mercy of the Chinese political system.
I'm pretty sure the Euro will be kind when all is said and done. Unless the Swiss pull some kind of surprise move. Which is very unlikely as they have been devaluing their currency to keep pace with world inflation.
I'm pretty sure the Euro will be kind when all is said and done. Unless the Swiss pull some kind of surprise move. Which is very unlikely as they have been devaluing their currency to keep pace with world inflation.
I doubt that the Swiss are really in this mix, however resently the Swiss Franc is getting closer to par with the US$. Fridays figure, Franc 1.0668 US$ .9374. It's interesting as well that the Euro has made a fair jump against the dollar /euro .7066 US$ 1.4153 but the indicator that tells the real story is the Dollar Index which just dropped below 80.0 at 79.23. The Fed can only shovel so much BS to bouy the dollar before everyone in the world figures out that the dollar is just as toxic as most of our mortgages. Truly there is a distinct paradigm shift in a way that many things don't follow some of the tried and true indicator cycles. The central bank here in the US has long worked to suppress the true value of gold often by manipulating it's value by selling tonnes of gold. The powers that be don't want gold to have value, with the formation of the Federal Reserve in 1913 they pushed the ideal that Fed dollars were "Good as gold". Gold will prevail, probably much sooner than many think possible. I've told people about the true value of gold for many years and now I tell people that it may be too late. So many are so deep in debt they can't even afford 1/4 oz. bullion coins, most people are just trying to hang onto what they have while homes continue to go into default. It's a sad mess, some people walk away from their homes leaving furniture, dishes, family pictures and pets. It hurts my heart to see that, one can only wonder if we aren't just a few steps away from becoming a third world country ourselves.
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