Silk Roads Made of Physical Gold by Rory, The Daily Coin
With the all the talk about cryptocurrencies it seemed like a good time for a reminder as to what the creditor nations have been working on for the past several years. You know, the nations that own the debt of the U.S. Now that cryptocurrencies are seemingly exploding onto the scene will cryptocurrencies play a part as the new paradigm unfolds? Maybe, especially in light of Putin meeting the creator of Ethereum blockchain.
We are in the end times for the Federal Reserve Note and anyone paying attention, and being honest with themselves, can see this. The rise of China and Russia as economic and military SuperPowers can no longer be denied. This is a big part of the Western world warmongers, utilizing the presstitute media, painting Russia as the evil empire that must be stopped. All of the "Russia did it" talk has nothing to do with "hacking the U.S. election" as there has never been a shred of evidence to support this claim. It has everything to do with protecting the Federal Reserve Note as the world reserve currency and the use of the petrodollar for global trade.
In 2008 as the world was being held hostage by the too big to jail banks, in conjunction with the Federal Reserve banking cabal, China began voicing their desire for the world reserve currency system to end. China discussed this with the IMF, and explained from their position, how the world reserve currency system was punishing them and the entire world because a handful of banks had gamed the system and lost their bet. Now the world must pay with much higher inflation as the Federal Reserve was increasing the volume of Federal Reserve Notes - U.S. dollars. It was during this time that China and Russia began discussing ways to undo the global trade system as we know it.
The Guardian reported, just prior to the 2009 G20 meeting in London that China, and many other countries, feel the need for a new global trade system.
China has called for the replacement of the dollar as the main global reserve currency, in a display of its growing assertiveness ahead of the G20 summit in London.
The bold proposal from the governor of the Chinese central bank – who calls for a new system controlled by the International Monetary Fund – reflects the willingness of emerging powers to press their case as the economic crisis overturns existing relationships and highlights the failings of the current financial system.
His remarks also underline Beijing's concerns about its immense dollar reserves – thought to top $1 trillion (£681bn).
Zhou Xiaochuan's essay – published on the bank's website in both Chinese and English – did not mention the dollar by name, but said the crisis showed the dangers of relying on one nation's currency for international payments. It suggested that issuing countries constantly faced tensions between domestic policy goals and international responsibilities.
"The crisis called again for creative reform of the existing international monetary system towards an international reserve currency," Zhou wrote. "A super-sovereign reserve currency managed by a global institution could be used to both create and control global liquidity.
"This will significantly reduce the risks of a future crisis and enhance crisis management capability."
This weekend the China Daily newspaper spelt out concerns in an editorial, accusing the US Federal Reserve of "monetising US government debts largely at the expense of long-term holders of US dollar-based assets". It added: "Some people thought the Fed has laid in a course that can only lead the US dollar to ruins." Source
These concerns are just shy of a decade old. Did China get upset and begin a bombing campaign to end the Federal Reserve Note? Of course not. They got busy making changes and implementing new systems, making new allies and creating the necessary infrastructure to side-step the current system. In 2017 their efforts are being rewarded with vaults filled with physical gold, alliances coming together throughout the world and a new banking system outside dollar hegemony. Not a single shot fired.
When the too big to jail banks failed in 2008 and, in essence, exposed the fascist U.S. government, the Eastern world took note and began making changes to their monetary systems. In 2009 China began encouraging their citizens to acquire physical gold and silver as a way of preserving their wealth and beating inflation. This strategy continues to this day and now you can walk into any bank in China and acquire physical gold or silver from as small a unit as 1 gram up to a 1 kilo bar (the Chinese central bank standard). The citizens are encouraged to acquire as much as they can afford on an ongoing basis. It's time for us in the West to wake up and smell the rice noodles or act-as-if and acquire a little more physical gold and silver.