Sunday, 07 June 2020


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Chinese conspiracy: analyst says Beijing tightens the noose of the neck of the dollar

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China is conducting a two-stage plan against the dollar in an attempt to deprive the U.S. currency's status as world reserve currency, says investment manager Russ Winter. According to the analysis of the blog ZeroHedge, China does not like the hegemony of the dollar as reserve currency: the Bank of China already in 2009 claimed that the domain of a currency in the world carries a high risk of crisis contagion. According to Winter, China plan consists of two stages: "tightening the noose neck of the dollar and the most appropriate time to remove the seat from under the United States." In other words, gradually increase the convertibility of the Yuan, strengthen its role in international trade, and then insert it as a reserve currency. USA, with a public debt approaching 110% of GDP, just would not be able to meet this challenge.   Russia and China, together against the dollar According to the manager, China carried out this operation with Russia. "It goes without saying that China and Russia have designs to end the opportunism of U.S. dollar hegemony" he says. Russia also defends the idea of ​​having more reserve currencies and offers the ruble for this purpose. According to the manager, China will carry out this operation with Russia. "Needless to say that China and Russia have designs to put an end to the opportunism of the hegemony of the US dollar", stands out. Russia also defends the idea of having more reserve currencies and offers the ruble for these purposes. The first part of the operation would have already started according to Russ Winter. China has signed an agreement with 20 countries to open lines of 'swap' (Financial barter) of 2 trillion Yuan. Among them an agreement this month to open a great exchange of the European Central Bank with the people's Bank of China, the commitment of Russia, Iran, Angola, Sudan and Venezuela to carry out transactions of petroleum in Yuan, a Pact of currency between China and Australia etc. The next step is to hit the chair behind the United States. And for that, China backs its currency with gold. Late last year, China could have 30.2% of world reserves, but the country does not reveal specifics about gold accumulated. Added to this are gold imports, says the expert. "They are building the foundations for a new monetary system compatible with the gold that will give advantages in commercial payments," says Russ Winter, noting that the precious metal will become a tool of control of China. "Once the Yuan become a currency fully backed by gold, the next logical step will be not only national, but international pressure on EE.UU." and on other countries, like Germany, that lifted the iron curtain and reveal if the gold that backs its currency, according to them, there is. Then prepare for a violent situation", he concludes. [caption id="" align="alignnone" width="630"]China Corbis[/caption] From
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ASDForex manager and professional trader since 2008. I am also manager where you can view the services that I give
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