Monday, November 25, 2013

Checkmate by China

It has been coming for quite a few years, but here we have it in print, in writing and in action: China has stated that it doesn't need/want to stockpile or buy the US dollar any more. This ties in with what Jim Willie has been saying, that China has resigned itself to writing off $1 trillion of US Treasuries, as they will be compensated by the corresponding increase in the price of gold, which they have been stockpiling, secretly and openly.

Couple this with all of the bi-lateral trade deals that China has been doing, based in the yuan (see this blog), and you can see that the move away from the US dollar has accelerated exponentially.

Predicted: 50% internal inflation in the US practically overnight. A lot of Americans are going to have quite a suprise coming.

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