… CBN Has Finally Signed The Currency Swap Deal
The IMF officially green-lighted the acceptance of China’s currency – the Yuan – into the IMF’s foreign exchange basket. According to Reuters, this move paves the way for the IMF to place the yuan on a par with the US dollar. This is the latest in a series of global developments that threatens to eliminate the US dollar as the world’s reserve currency. Experts predict this announcement will trigger one of the most profound transfers of wealth in our lifetime. So if you want to protect your savings & retirement, you better get your money out of US dollar investments and into the one asset class that rises as currencies collapse.
The IMF Holds Supreme Power
The International Monetary Fund, or IMF, is one of the most secretive and powerful organizations in the world. They monitor the financial health of more than 185 countries. They establish global money rules and provide “bail-out” assistance to bankrupt nations. Some are warning that any move by the IMF to supplant the US dollar could be catastrophic to American investments.
And now, the IMF has made the first move. As reported by The Wall Street Journal, the IMF officially green-lighted the acceptance of China’s currency – the Yuan – into the IMF’s foreign exchange basket. This marks the first time in history the IMF has expanded the number of currencies in the foreign exchange basket. This means that the Chinese currency will now become a viable global alternative to the US dollar.
According to Juan Zarate, who helped implement financial sanctions while serving in George W. Bush’s Treasury department, “Once the [other currency] becomes an alternative to the dollar, rules of the game begin to change.” Leong Sing Chiong, Assistant Managing Director at a major central bank, said this dollar alternative “is likely to transform the financial landscape in the next 5-10 years.”
Currency expert Dr. Steve Sjuggerud warned, “I’ve been active in the markets for over two decades now, but I’ve never seen anything that could move so much money, so quickly. The announcement will start a domino effect, that will basically determine who in America gets rich in the years to come, and who struggles. Dr. Sjuggerud says if you own any US “paper” assets – and that includes stocks, bonds, or just cash in a bank account – you should be aware of what’s about to happen and know how to prepare. A number of experts believe a recent spike in gold and silver prices is a direct result of the IMF’s action. Precious metals notoriously rise when the US dollar falls.
The Death of the US Dollar in One Frightening Graph
For the last 600 years, there have been six different global reserve currencies controlled by world superpowers. The latest – the US dollar – has dominated world currency for over 80 years. The alarming fact is, global reserve currencies have collapsed every 80-90 years for the last six centuries! What does this mean for America and the dominance of the US dollar? Based on recent evidence and long-standing historical trends, experts predict the imminent collapse of the US dollar! What’s more alarming? Many Americans aren’t yet doing the one thing that will save their savings & retirement from US dollar collapse.
Just take a look at the graph below. It shows the lifespan of dominant currencies going back 600 years. Notice that the US dollar has now been the dominant currency for 88 years, about the same length of time as its predecessors. It’s obvious why experts say that the US dollar’s days as the world’s reserve currency are coming to a climactic end.
All Fiat Currencies Collapse
“Fiat” currency is paper currency backed by nothing tangible. As opposed to “sound money” which is backed by gold or some other valuable commodity, a fiat currency is backed by nothing more than faith in the government. The US dollar has been a fiat currency since Nixon closed the gold window in 1971 in what was the greatest heist in American history. The scary fact is, the average life span of a fiat currency is 40 years, and the US dollar has now exceeded 40 years as a fiat currency!
Prior to 1933 and for well over 100 years, the dollar was backed by gold, and $20 bought you an ounce of gold. But after the government stole all US citizens’ gold in 1933 for a $20 paper certificate, gold was revalued at US$35, meaning the dollar was devalued by 43% overnight and all foreign and domestic holders of dollars were effectively robbed. After Nixon closed the gold window completely in 1971, it took $67 to buy an ounce of gold, devaluing the US dollar by 50% again. Today, it takes well over a thousand US dollars to buy that same ounce of gold. Why? Because the US dollar is now nothing more than a fast declining Federal Reserve note backed by a corrupt government that is saddled with $18 trillion in unpayable debt — growing by $10 million per minute!
Protect Yourself Before It’s Too Late
This “Paper Money Experiment” has run its course. The Federal Reserve, the US government, and Wall Street crooks have misused their power by mismanaging the dollar, and now there are global repercussions. The debt load sitting on top of the US dollar is unsustainable and will continue to crush the dollar’s purchasing power until no one wants to hold US dollars, and they are _no longer_ accepted for global trade. The dollar’s collapse means that every single one of your paper investments that are dollar-backed – stocks, mutual funds, money markets, cash accounts, etc – will go down right along with the dollar! Meanwhile, the government and the banks will find a way to protect themselves at your expense!!
So as we say goodbye to the U.S. dollar’s dominance, it doesn’t have to mean goodbye to your savings & retirement. Remove at least some of your savings & retirement from the dollar-backed, paper-based financial system and protect it with the one asset that has outlasted every fiat currency ever invented for the last 5,000 years: Gold.
Central Bank Of Nigeria Has Finally Signed The Currency Swap Deal
I know Most of You don’t know the meaning of Naira, dollars, yuan swap with China. And why American government is desperately smoothing the relationship with Nigeria. Soon you will be buying that techno phone you bought at N80,000 for N12,000. The Central Bank of Nigeria has finally signed the currency swap deal we have been expecting for the past 2 years into existence with the Chinese government.
The importance of this is that since almost 70% of the goods we import come from China and Asia and 12% America why must we use Dollars to transact with China? From now instead of using dollars at N350 to 1dollar to import those goods, we can now buy Yuan at 47 naira to 1 Yuan and import those stuffs directly. Instead of buying these goods in dollars in China, we will now buy them in Yuan which is 5times cheaper than dollars.
As usual, another giant stride which Print Media, Electronic Media and Nigerian looters will not report or allow you to understand this victory over supremacy of dollars in our daily lives and economic activities. Up coming reality is that from tomorrow, try to monitor exchange rate. Some of those guys who hoarded foreign currencies to make gains will off load them in order not to have heart attack over their huge loss arising from the currency swap deal with china. Dollars and pounds will flood everywhere with no buyers, as the buyers will draw naira from their accounts in banks with presence in China.
Many NIGERIA banks will be seeking to have their representative office in China like first bank that saw into the future and already have office in China. Inflation will go down drastically because of the price of commodities that will drop.