End of the Dollar

Isn't it funny that what we see on the news channels day to day are generally unimportant or non-descript sound bites about the latest celebrity faux-pa? (not withstanding the unavoidable coverage of the Scottish Referendum).

Why do we not see, articles like this one below? (taken from a CHINESE news source!)

LONDON, Sept. 12 (Xinhua) -- British Chancellor of the Exchequer George Osborne announced Friday that the British government intend to issue a Renminbi denominated bond and to use the proceeds to finance the government's reserves of foreign currency.

"I can now announce that the UK government intend to be the first national government outside of China to issue a bond in China's currency. We issued bonds in U.S. dollar before, now we will be issuing a bond in RMB," said Osborne in the press release of the Sixth China-UK Economic and Financial Dialogue (EFD).

Chinese Vice Premier Ma Kai and Osborne concluded the meeting of the Sixth China-UK Economic and Financial Dialogue in London.

Osborne described this dialogue outcome as "a historic moment" and a statement of British confidence in the potential of the RMB to become "the main global reserves currency".

"And let me be clear, as China becomes a bigger and bigger part of the world economy, their currency is going to be used around the world. We here in Britain understand that, and we want us to be the first country in the west to seize the opportunities that it will bring," declared Osborne.

news.xinhuanet.

May i draw your attention to the 4th paragraph where our Chancellor describes the Renmimbi as the MAIN GLOBAL RESERVES CURRENCY!

Thats not very sporting to our U.S Brothers is it?, if you choose to ignore the hyperbole about the fall of the Dollar from blogs, investors and international businesses; will you ignore the Chancellor in his statement which for all intents and purposes is confirming the collapse of the U.S Dollar.

What does this mean..... you should read some of the historical posts I have published, but whether you do or don't this WILL affect you whether you are prepared or not!

Mokarimakka