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Rise of the “Yuan” — The West sees that the whole economic & financial structure built by them for them is now being uprooted and destroyed.
Greetings,
This is very important. China’s rising clout is disturbing the status quo. The West sees that the whole economic & financial structure built by them for them is now being uprooted and destroyed. They are panicking and fearful that the end is now.
More and more signs of an eminent collapse of Western markets and the Western financial structure ,are coming to the forefront. This cannot be denied. Indeed, “Everywhere that we look, and everything that we can think about, marks the end of this world.”–pg.252(tfoa)
This is a warning to America. It is telling her that the reign of the petro dollar as the world’s reserve currency is now up. I bet you, America has gotten this message so she will try to up the military and political pressure on China.
Chinese Yuan Surpasses Euro, Becomes Second Most Used Currency In Trade Finance
Source: www.zerohedge.com
Slowly but surely the Chinese currency is catching up to the world’s reserve and moments ago, according to SWIFT, the Yuan just surpassed the Euro in trade (remember trade: that’s how countries once upon a time would generate capital flows in a time when central banks weren’t there to literally print domestic funding needs) finance usage leaving just the USD in front.
- YUAN OVERTAKES EURO IN TRADE FINANCE USAGE: SWIFT
- YUAN IS SECOND MOST-USED CURRENCY IN TRADE FINANCE: SWIFT
More from Bloomberg:
- Chinese currency had 8.66% share in letters of credit and collections, or trade finance, in Oct., Society for Worldwide Interbank Financial Telecommunications says in statement today.
- Euro’s shr in trade finance was 6.64% in Oct.
- Top 5 countries using yuan for trade finance in Oct. were China, Hong Kong, Singapore, Germany and Australia
- Yuan mkt shr in global payments was 0.84% in Oct. vs. 0.86% in Sept.
- Yuan payments value rose 1.5% in Oct. vs. 4.6% growth for all currencies: Swift
And so while the “developed” world is busy crushing its fiat through trillions in annual currency dilution and debasement in an attempt to make its exports cheaper and outtrade its peers through beggar thy neighbor policies (not to mention inflate away its debt), the leader of the “emerging” world, China, is doing just that.
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