China Calls for US Dollar Replacement

China made another request for a world currency other than the US dollar:

China snubs U.S. dollar! Calls for new world currency!

Money and Markets – June 28, 2009

by Larry Edelson

If you think everything you’ve witnessed in the economy over the last two years is virtually unprecedented, think again.

The People’s Bank of China — the central bank for 1.3 billion people and America’s biggest creditors — has just issued an economic report calling on the world to replace the U.S. dollar as the world’s reserve currency … and for the International Monetary Fund to issue a new, single “super-sovereign currency.”

Make no mistake about it: As China and other major nations with surplus reserves move steadily forward with this new mission, it could have massive implications for almost everything you own.

It could impact every single stock traded in the U.S.

It could affect the value of every long-term Treasury bond … corporate bond … and municipal bond.

It’s bound to send gold soaring through the roof … and could spark another rocket ride higher in the prices of oil and gas.

But as much as I don’t like it, it comes as no surprise to me, or to anyone who has been following the patterns of history over the years… http://www.moneyandmarkets.com/china-snubs-us-dollar-calls-for-new-world-currency-3-34385

Dollar Drops as China Repeats Call for New Reserve Currency

Bloomberg – June 26, 2009

By Oliver Biggadike and Ye Xie

The dollar fell against most of its major counterparts after China repeated its call for a supranational currency “delinked” from sovereign nations.

The greenback headed for its biggest weekly loss against the euro in four weeks after the People’s Bank of China said the International Monetary Fund should manage more of members’ foreign-exchange reserves. A rally in Treasuries this week pushed the yield on the benchmark 10-year note down the most since December, lowering expected returns.

“The dollar’s status as a reserve currency is being questioned,” said Benedikt Germanier, a foreign-exchange strategist in Stamford, Connecticut, at UBS AG, the second- largest currency trader. “Relative yield momentum is abating. There are reasons to sell the dollar.”

The U.S. currency declined 0.6 percent to $1.4078 per euro at 3 p.m. in New York, from $1.3988 yesterday, extending its loss this week to 1 percent. The dollar fell 0.8 percent to 95.17 yen from 95.95 and was poised for a 1.1 percent weekly decline, its third consecutive drop.

Brazil’s real was headed for a 2.1 percent gain versus the dollar this week as the sale of shares in the credit card network Visa Inc.’s local affiliate attracted foreign investors to the world’s biggest initial public offering in more than a year. The real advanced to 1.9356 today after earlier reaching 1.9240, the strongest level since June 12.

The Swiss franc rose against the euro and dollar on speculation traders will test the central bank’s resolve to keep its currency weaker. http://www.bloomberg.com/apps/news?pid=20601101&sid=atc19lxb9_SE

Such moves would have been unthinkable 3-4 years ago.

The times, they are a changing, and the changes will NOT be good for the US economy.

What China has not fully figured out yet, however, is that it will be a European currency that the Bible indicates will ultimately dominate world trade.

Some articles of possibly related interest may include:

China, Its Biblical Past and Future, Part 1: Genesis and Chinese Characters This article provides information showing that the Chinese peoples must have known about various accounts in the Book of Genesis up until their dispersion after the Tower of Babel.
China, Its Biblical Past and Future, Part 2: The Sabbath and Some of God’s Witness in China When did Christianity first come to China? And is there early evidence that they observed the seventh day sabbath?
Asia in Prophecy What is Ahead for Asia? Who are the “Kings of the East”? What will happen to nearly all the Chinese, Russians, Indians, and others of Asia? China in prophecy, where? Who has the 200,000,000 man army related to Armageddon?
Europa, the Beast, and Revelation Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about “the Beast”? What is ahead for Europe?
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, British, Scottish, Welsh, Australians, Anglo-Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo nations? Why might God allow them to be punished first?
Prophecies of Barack Obama? Eight reasons why Barack Obama is apocalyptic and eight reasons why Barack Obama is not the Antichrist. This article includes many biblical and non-biblical prophecies, from around the world, that seem to discuss Barack Obama. Did Nostradamus predict Barack Obama dealing with the Antichrist? Might Barack Obama set the stage for the kings of the North and South as at least one Shiite prophecy suggests? Will Barack Obama lead the USA to its destruction? This is the longest and most complete article on this page on Barack Obama prophecies. Read it and decide for yourself if President Obama seems to be fulfilling various prophecies.