All-out financial war against the dollar

Greetings,

The leaders of America realize the terribleness of what their nation is now facing. They have been snared in a divine catch 22. The bait of having the world’s reserve currency inebriated their leaders and politicians. They were drunk on this.

Now the consequences of their evil is blowing back on them and the fall of their nation and system is certain. They are fighting like hell trying to stave off their doom, but we know that…”America’s burden in trying to protect herself from the attacking nations of the world is tremendous, one that she will not be able to carry. Therefore, she must succumb to the powerful forces that are coming against her.”-pg.18(The Fall Of America)

Now it is the hand of God which is after America to force her into submission. He is causing America’s enemies to come against her.

Jer. 51:53 says: “Though Babylon should mount up to heaven, and though she should fortify the height of her strength, yet from me shall spoilers come unto her saith the Lord. America is under a destruction similar to that of ancient Babylon.

Yes she is in deep deep trouble. She is to suffer the same as ancient Babylon. Remember that, “It took the hand of God to bring the king of Babylon and his people into submission to the power of God.

He brought the surrounding kings and their power against ancient Babylon in the prime; the height of her glory — the hand writing on the wall…”-pg.195(The Fall Of America)

Isn’t this going on? We see this now in international monetary affairs!

Ditching US dollar: China, Russia launch financial tools in local currencies

A bank clerk counts Chinese yuan banknotes at a branch of Industrial and Commercial Bank of China in Huaibei (Reuters/Stringer) and Russian ruble banknotes (Reuters/Ilya Naymushin)

China and Russia have effectively switched to domestic currencies in trading using financial tools as swaps and forwards, as they seek to reduce the influence of the US dollar and foreign exchange risks.

The agreement signed in the end of October comes into force Monday, December 29, and provides a currency swap of CNY150 billion (up to US$25 billion).

READ MORE: Defying the dollar Russia & China agree currency swap worth over $20bn

The country’s Foreign Exchange Trade System will carry out similar transactions with the Malaysian ringgit and the New Zealand dollar.

From now on yuan swaps are available for 11 currencies on the foreign exchange market.

“China won’t stop yuan globalization or capital account opening because of the volatility in emerging market currencies,” Ju Wang, a senior currency strategist at HSBC Holdings Plc in Hong Kong told Bloomberg.

China has set up bilateral currency swap lines with more than 20 countries and regions since 2009, including Switzerland, Brazil, Hong Kong, Indonesia and South Korea, Xinhua News reported in July.

A swap is a financial tool to ease transactions by exchanging certain elements of a loan in one currency, like the principal or interest payments into an equivalent loan in another currency.

Currency forward is an obligation of two parties to convert an agreed amount of one currency into another by a certain date at an exchange rate specified at the moment of signing the deal.

Russia and China have long been looking for ways to cut the dollar’s role in international trade. The question is significant for China as 32 percent, or $4 trillion of its foreign exchange reserves are in US bonds, which means there is a vulnerability to fluctuations in the exchange rate…..More Here

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