Friday, June 26, 2009

China's Central Bank Continues To Pressure The Economic World To Replace The U.S. Dollar As The World's Reserve Currency

Reserve Currency's Are Fiat Money

Unlike currency which is backed by something of intrinsic value (for instance gold and silver coins), reserve currencies like the Federal Reserve Note are backed by nothing of intrinsic value. Reserve currencies are in essence created based on nothing more than thin air, and predicated on debt.

It has been said that the only reason that the U.S. Dollar has survived for so long under these adverse conditions, is the Federal Reserve's control over the sale of such debt to other countries. All of which have been drawn into this criminal web of financial deception.

And while the situation is far more complex, what Americans must now realize is that a universal call for the replacement of the U.S. Dollar as the global reserve currency, will absolutely decimate the global economy. Since the Dollar has been the global reserve currency since post World War II.

And this action would clearly result in a depression beyond the scale of that witnessed during the Great Depression which plagued the United States middle class and the rest of the world in the early 1930's.

As I have said in the past (and as I will reiterate today), what we are witnessing occurring within the United States at present is a deliberately orchestrated financial meltdown of the housing and credit markets, in which middle class Americans are going to lose most if not all of what they have accumulated in wealth over the next few years.

The deliberate tightening of credit by the Federal Reserve System is being done to force many homeowners into bankruptcy, so that these homes can later be purchased for a fraction of what the owners themselves had paid for them.

And the Federal Reserve's manipulation of the value of the Dollar via its control over the prime lending rate, is already allowing for a minority of insiders to reap the benefits of this financial manipulation, while the average American citizen becomes devastated by it.

Over the past few days Federal Reserve Chairman, Bernanke, has been hammered while testifying in regard to accusations that he has strong armed the deal regarding The Bank Of America's purchase of Merrill Lynch. And in all likelihood, because he has.

The situation in regard to BofA and Merrill Lynch is a prime illustration in regard to those who control Bernanke and the Federal Reserve System, picking up tremendous assets for pennies on the dollar, and doing so in a way which on the surface appears to be legal.

However, history will record that like the American market panics created by the House Of Rothschild in the 1800's, and later under the Federal Reserve central bank, what Americans are witnessing in the present is yet another covert manipulation of their economy, by the House Of Rothschild and its London banking cartel. It is through this financial hub in London that the global economy is manipulated for the profit of the few, while devastating the masses. To have a better understanding of just how slick these London bankers are see the following Website:

How Mayer Nathan Rothschild Used Napoleon's Battle Of Waterloo To Takeover The Bank Of England

Also See:

If The Dollar Loses Its Position As The Global Reserve Currency The U.S. Economy Will Collapse Entirely

Eustace Mullins - Secrets Of The Federal Reserve

China Calls For New Reserve Currency

China Calls For A New Global Currency
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