Prepare to Kiss Your Ass Goodbye
- The dam is cracking. Oil is purchased in dollars creating America's wealth. But oil producing countries like Saudi Arabia and Nigeria are now selling oil using the Chinese Yuan.
- Prepare for a "Great Reset" as the dollar burns.
(MSN) The People's Bank of China is building a yuan reserve with five other nations in collaboration with the Bank for International Settlements.
China is teaming up with Indonesia, Malaysia, Hong Kong, Singapore, and Chile, with each contributing 15 billion yuan, about $2.2 billion, to the Renminbi Liquidity Arrangement, China's central bank said in a statement Saturday.
"When in need of liquidity, participating central banks would not only be able to draw down on their contributions, but would also gain access to additional funding through a collateralised liquidity window," the bank said.
Russia and China have been attempting to develop a new reserve currency with other BRICS countries, Russian President Vladimir Putin said last week.
The basket of currencies would present a US-dominated International Monetary Fund alternative and include contributions from Brazil, Russia, India, China, and South Africa.
"The matter of creating the international reserve currency based on the basket of currencies of our countries is under review," Putin told the BRICS Business Forum on Wednesday, according to a TASS report. "We are ready to openly work with all fair partners."
In March, reports emerged of a Saudi oil deal priced in yuan.
Must See Video
Play this longer interview on the dollar and gold in the background while surfing the net.
The U.S. is rapidly losing its post World War II monopoly status on money and power. This will result in a collapse of the dollar, a depression and poverty.
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