China calls for super currency
Growing more apprehensive over the devaluation and long term stability of the US Dollar, China’s Central Bank Governor called on the IMF to begin serious deliberation over the establishment of an international reserve currency. China owns at least $1 trillion of US national debt in the form of treasuries, and only about a week ago, the Chinese premier asked the US for stronger guarantees regarding these treasury assets.
Many economic analysts feel China forsees a far more influential role for its own currency. Since December, China has signed currency swaps with Indonesia, South Korea, Hong Kong, Malaysia, and Belarus.
If the US government and Federal Reserve continue to engage in dollar debasing policies, we may wake up one day and find the US Dollar a second rate currency. And if we don’t get our financial house in order, we may soon discover that China has replaced us as the preeminent economic superpower.
It is up to us to make this happen. The government won’t do it. The Fed won’t do it. Congress won’t do it. Only a second, constitutional revolution will do it.
Read the article here.
jim campbell said:
Apparently the USPS and the Government are not going to deliver our Tea Bags. I've enclosed an attachment that prints full 8×10 please consider if you are unhappy with the way our government is working sending it to The White House C/o Barrack Obama 1600 Pennsylvania Ave, Washington D.C. 20500. Send some to your Senators and Congressmen as well. Please help get the word out and forward to your friends. This is just the beginning and we are serving notice that we want our Government Back (attached prints 8X10 and will be delivered)
–
http://stopsocialism.wordpress.com/
March 24th, 2009 at 2:33 pm