U.S. DOLLAR COLLAPSE 2016 – China Orders Banks To Drop The USD
Submitted by IWB, on January 12th, 2016
U.S. DOLLAR COLLAPSE 2016 – China Orders Banks To Drop The USD
China have suspended their banks from the Foreign Exchange markets and ordered them to stop buying U.S. Dollars. China’s foreign exchange regulator has ordered bank’s to limit the purchases of U.S. dollars for at least one month in an attempt to stem capital outflows. The move comes as China reported its biggest annual drop in foreign exchange reserves on record in 2015, while the central bank has allowed a sharp slide in the Yuan currency to multi-year lows, raising fears of more capital flight.
All banks in certain trading hubs, including Shenzhen, received the order recently, the people added. They declined to be identified because they are not allowed to speak to the media.Officials at State Administration of Foreign Exchange did not immediately respond to comment.
China also suspended forex business for some foreign banks, including Deutsche, DBS and Standard Chartered at the end of last year.
While three sources for this story claim they were told that this is an effort to stem the outflow of capital, a different source says something altogether different is taking place: the belief in China that the US Dollar is now worthless and will soon totally collapse as a currency, leaving everyone who holds dollars, broke. That’s why China is doing everything it can to shed US Dollar currency. The way it’s being done, however, is a “useful guise” for the Chinese to prevent the collapse from taking place too early and leaving them stuck
u.s. usa america usd dollar “united states” bank banking savings “savings account” “bank account” forex “forex trading” “stock market” china chinese business markets 2016 economy “binary options” “china wholesale” “china rmb” yuan gold silver bullion commodity collapse finance investment money cash wealth prepare capital news media entertainment “u.s. dollar” collapse debt loan “credit card” “elite nwo agenda” gerald celente jim rogers marc faber max keiser jsnip4 lindsey williams coast to coast am rawdogletard louis farrakhan end game false flag illuminati cashless society new world order chaos closed bank holiday alex jones infowars rich dad poor dad with trillions in useless US dollars. Yesterday the International Monetary Fund designated the Chinese yuan as one of the global currencies used to calculate the value of Special Drawing Rights. This event may portend a significant reordering of the world’s monetary system, and serve as a recognition that the US dollar’s ongoing status as the world’s reserve currency is not guaranteed. Jim Rickards terms this a “political decision” by the IMF, and discusses what it means both for China and the US.]
Membership in the exclusive SDR currency club has changed only once in the past thirty years.
That change took place in 1999, and was purely technical due to the fact that the German mark and French franc were being replaced by the euro. You can think of this as a four-person poker game where a fifth player just sat down at the table with a large pile of chips. The poker game will now take on a new dynamic. China has also improved the transparency of its reserve reporting, especially with regard to gold. From 2009–2015, China reported no increases in its gold reserves. Yet the evidence (from mining statistics and Hong Kong imports) was conclusive that China was, in fact, acquiring thousands of tonnes of gold.
Gold & Silver Surge As Dollar Dumps
Silver just broke a key technical level at its 50-day moving average Unfortunately, most Americans have absolutely no idea how important all of this is. In recent years, growing economies all over the world have borrowed gigantic piles of very cheap U.S. dollars. But now they are faced with the prospect of repaying those debts and making interest payments using much more expensive U.S. dollars. “Guess What Happened The Last Time The Price Of Oil Crashed Like This?…” “10 Key Events That Preceded The Last Financial Crisis That Are Happening Again RIGHT NOW” Sesame Credit is operated by Alibaba and Tencent, two companies that run all the top social networks in China, including Weibo, which has over 200 million users. It works by measuring not only purchase and bill paying history but also “political compliance.”
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