The world is anticipating a new global reality with huge implications: China's yuan is poised to get recognized as a global reserve currency.
In a sign of the times, the IMF has essentially rebuffed U.S. claims of currency manipulation, to instead affirm that China's currency is "no longer undervalued" – essentially giving its approval for the inner circle what many have described as an incubating world currency.
China's yuan currency, which Washington has long alleged was manipulated, is "no longer undervalued," the International Monetary Fund said Tuesday.
The value of the yuan, also known as the renminbi, has been a source of tension for years, with China's major trade partners — led by the United States — accusing Beijing of keeping it artificially low to give Chinese exporters an unfair competitive advantage, which Beijing denied.
"Our assessment now is that the substantial real effective appreciation over the past year has brought the exchange rate to a level that is no longer undervalued," the IMF said in a statement after a consultation mission to China.
With longstanding U.S. opposition to China's currency status, the IMF decision has been seen as the biggest hurdle to world reserve status. This news brings China one giant step closer to entry onto the global stage of currencies and new financial norms for Americans
The decision underscores a larger shift in the global balance of power – there is no doubt that there are serious cracks in the foundation – as the U.S. petrodollar has lost its potency as the world reserve currency hegemony.
U.S. allies have been easily won over to recognizing China, and partnering with its Asian Infrastructure Investment bank, signaling a new era for finance under globalism. The new currency will be pegged to a global basket that China is part of.
What will this new currency look like, and will it become a reality? A mining executive shed light on the manipulation of gold behind the scenes, with a quest for parity undervalue that is encouraging China to accumulate gold at a rapid pace, so that it can hold reserves equivalent to those the U.S. reportedly holds:
I think there will be a reset of the financial industry…
I think China is being allowed to accumulate gold purposefully by the American government… I believe that the Chinese need to own at least the same amount as the U.S. owns before this reset occurs. I think that there's some kind of deal that's being made between all the central banks behind the scenes and that's why you're seeing governments accumulating the metal.
It could mean a major shake up to the norms that Americans and other westerners have been accustomed.
But beyond that, the currency will ultimately be digital. Cash will likely be banned to enhance control, and all payments will be authorized and monitored. Through a new wave of bank fees and fines, and (outrageously) charges for deposits, average people will be hurt on all sides of transaction by money that has been thoroughly debased and manipulated.
The Federal Reserve Bank and its owners, the largest banks on Wall Street, want badly to be able to charge you interest for the privilege of depositing your funds. The problem is getting you to stand for it.
The cashless digital grid will become fully a tool of banker control that is global in scope and backed at its root by central planning at central banks supported by a system of total consumer surveillance over spending, exchanges and all other transactions.
Russia will purchase at least 50 of the newly revived Tupolev Tu-160 (Blackjack) heavy strategic bombers, dramatically increasing its arsenal.
As The National Interest previously reported, last month Russian Defense Minister Sergei Shoigu announced that Russia would resume production of the Tu-160 strategic bomber, a Soviet-era aircraft that is capable of carrying both conventional and nuclear weapons.
Moscow will purchase at least fifty of the Tu-160 strategic bombers once production resumes.
This will dramatically increase Russia’s bomber capabilities as only fifteen Tu-160s currently remain in service (about 35 were originally built, according to Russian media outlets). That is at least a 333 percent increase in the number of Tu-160s in Russia’s arsenal.
Bondarev further revealed that the decision to restart production of the Tu-160 was made by Russian President Vladimir Putin. "The supreme commander [president of Russia] and the Russian defense minister have taken a decision on reviving production of the Tu-160M aircraft,” TASS, a Russian government news outlet, quoted Bondarev as saying.
A failure to reach an agreement on Greece's aid program soon may drive yields on bonds issued by other euro-area countries higher, the European Central Bank said.
"In the absence of a quick agreement on structural implementation needs, the risk of an upward adjustment of the risk premia demanded on vulnerable euro-area sovereigns could materialise," the ECB said in its twice-yearly Financial Stability Review published Thursday in Frankfurt. "The lengthy and uncertain process of negotiations between the newly formed Greek government and its creditors" has already contributed to bouts of extreme volatility in Greek markets, it said.
Three months after taking office, the new Greek government has still failed to reach agreement with its creditors to unlock bailout funds, bringing it ever closer to default. While ECB policy makers have claimed the region is better insulated against a disorderly Greek outcome than previously, a failure to meet payments could still create spillover effects for bond markets in neighboring countries as well as domestic banks.
"The market cannot have fully discounted the Greek endgame because we don't know what it will be," said Steve Barrow, head of Group-of-10 strategy at Standard Bank in London. "Contagion risks from a bad Greek outcome cannot be brushed aside but, at the same time, we tend to think that we won't get a 'bad' outcome for Greece, at least not now."
We stand today in a nation that has become deeply corrupt, steeped in sin and clearly falling under the Lord's judgment for it. The church has been largely silent for decades as the corruption has metastasized, and now all our institutions are run by those clinging to the poison of Godless, tyrannical ideology. Our kids are being indoctrinated in the public schools to believe everything but God's moral truth. Our federal government has been taken over by communists who are hell-bent on destroying the foundation of freedom on which our nation was built. In addition, we have a man in the White House who has done more than any past president to push the devilish radical homosexual agenda. Countless millions of dollars have been spent on the homosexualist propaganda campaign, which has also been exported around the world from the United States. This does not end well.
As we await the Supreme Court's ruling on marriage—a ruling, by the way, it has NO authority to make—many of us dread that the Court will side with perverse sexual degeneracy in the destruction of the meaning of marriage. With this, we will see a further erosion of our fundamental freedoms. This is inevitable, and it's the goal of the reprobates leading this movement, because whether these pawns of the devil realize it or not, they are his pawns and are being willingly manipulated to do Satan's dark will.
While we certainly have human enemies aligned against us, our true enemies are Satan, his demons and the spiritual wickedness of those in places of great power. As Christians, we have read the end-times prophecies, and we know the warnings Jesus gave us about how awful things will become in the last days. Satan is working feverishly to fully cement his terrible, earthly rule and bring those hellish days to fruition.
The Godless communists (or fascists, if you prefer) are using the homosexual agenda to work toward eradicating Christian opposition to their plans, which are Satan's plans. If you know your Bible, then you know that Christianity is destined to be outlawed. We are moving steadily toward a time when Christians here in America will be in danger of state-sanctioned murder for their beliefs. If you think I exaggerate, then you don't know what God has already told us, or perhaps you mistakenly believe that the United States is the exception, that it can't happen here. Christians throughout the world have always been persecuted, but here in the United States, we have enjoyed unparalleled protection and freedom during the existence of our nation. That protection is quickly being eroded, and the homosexuals are used as pawns in this process...we must not lose sight of the real nature of the battle. It's a spiritual battle, and we must approach it as such, putting on the full armor of God, as best we can, if we are to have any hope of turning back this truly evil tide.
“A Government big enough to give you everything you want, is a government big enough to take away everything you have.” ~ Thomas Jefferson
For decades, the American people have been turning everything they possibly can over to the state to take care of, convinced by government officials that they can avoid work and responsibility and just have fun, be entertained, and get free stuff.
The entire time, libertarians (of all ilks) have been warning and warning and warning the people that doing so, in exchange for whatever benefits they think they’ll get in return, will ultimately result in an out-of-control, authoritarian government…aka, a police state. Oh—and a collapsed economy.
So now, as more and more people are becoming more and more aware that this is exactly what is happening, and they act surprised and outraged over the daily abuses, rights violations, crimes, unaccountability, impunity, and so forth from the politicians and their paid enforcers, and they see that the people are becoming more and more impoverished, and there are fewer and fewer jobs (even low-paying jobs), and the economy is collapsing all around us—I can’t help but think that the American people are getting exactly what they wanted—because this is exactly what happens when you do what this nation been doing for generations now.
After all, they were warned. Over and over. But nobody would listen.
(I’ll stop short of saying the American people are getting exactly what they deserve, or a uttering a gloating “See I told ya so”—I’m neither that crass nor that arrogant; my heart goes out to these victims of state oppression, my fellow citizens—and I’d like to see them finally understand the problem, and strive to turn things around, not just sit here and thumb my nose. That’s not helpful to anybody.)
But what’s truly astonishing is that even with things as bad as they are now—undeniably bad, and getting completely out of control—and even with libertarians pointing out the accuracy of the warnings and predictions (after all, all you have to do is look at history, excessive government power and control always turns out this way)—people STILL won’t listen! They’re still looking to the same government officials, the same Dems/Reps, the same authoritarian, unaccountable system, and demanding that they do something, that they fix the problems, that they take care of everything.
From what I’ve seen, nobody in mainstream society is talking about scaling it all back—about cutting funding (taxes/borrowing/printing), about cutting budgets or de-militarizing the police, about electing candidates not of the two controlling parties, about dismantling the lawless federal government or dissolution of the union via state secession, about returning to the principles of unalienable human rights, personal liberty, individual sovereignty, private property rights, and personal responsibility—none of it. People seem to just want the government to stop doing what it does—even though what it’s doing is exactly what governments do; always have, always will.
I can only imagine that the cognitive dissonance must be highly perplexing, if not crippling.
At this point—with things as bad, and obvious, as they’ve gotten—I fear that if the American people still don’t get it…it’s likely they never will.
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