Abandoning Dollar for Renminbi Yuan and the Euro

Chinese Renminbi Yuan

The following was part of LCG’s announcements for today:

Abandoning U.S. Dollar for China’s Yuan: A growing number of nations want to replace the dollar as the world’s reserve currency. “Every time there is an international economic summit, it seems that some Chinese mandarin reiterates the now familiar complaint that the greenback needs to be replaced as the world’s de facto reserve currency” (Time, July 21, 2009). “Since the global financial crisis… more nations, especially emerging economies, see the yuan as the main reference currency when setting their exchange rate” (China Daily, October 24, 2012). Even Germany is interested: “Germany and China plan to conduct an increasing amount of their trade in euros and yuan…” (Reuters, August 30, 2012). The Royal Bank of Scotland “expects a growing number of foreign companies and governments to issue bonds in the Chinese currency as they become ‘more confident’ with the renminbi as an international currency” (Bloomberg, October 11, 2012). The dollar has been a blessing to the U.S. and the world, yet due to disobedience to God’s laws, the “pride” of American power is being broken (Leviticus 26:19). Few connect the “falling” dollar with the promotion of homosexual marriage, abortion rights, sexual immorality, and other national sins. Yet the Bible warns, “God is not mocked; for whatever a man sows, that he will also reap” (Galatians 6:7). If the United States continues on its sinful course, God will bring the dollar “lower” and allow foreign currencies to rise “higher” (Deuteronomy 28:43)—what we see today as nations consider abandoning the dollar for the yuan. For more information on this vital topic, request our free booklet, The United States and Great Britain in Prophecy.

Now while most people probably think that China has potential (and it basically should), it also has problems. It will be Europe, and not China, that will become the world’s leading economic power.

Notice the following from LCG’s Dr. Meredith, who has visited China:

China will not be the great power of the 21st century. Beset by increasing financial and social problems, Chinese influence will wane and a German-led “European Empire” will surge to the fore in world affairs. (Meredith RC. What is Just Ahead for You? Tomorrow’s World magazine, Sept-Oct 2011, p. 5)

In the coming years, you will perhaps even see a revolt of the peasants in the outlying Chinese cities, who have lagged far behind the standard of living afforded those who have moved to Beijing and Shanghai. Plus, the tremendous pollution of the water, air and foodstuffs may bring about massive disease epidemics and other problems for the Chinese. (Meredith R.C. An Inspiring and Successful Trip. Living Church News. May-June 2007, p. 21).

While China has grow tremendously economically, one of the things that most Westerners do not realize is that China has a system that prevents its citizens from agrarian areas from having the same rights as those in urban areas. It is called the hukou. Here is more information about that:

The hukou
Through a rigorous and rigid household registration system designed to control the movement of China’s 1.3 billion people, the central government classifies all its citizens as either city dwellers or rural peasants. The registration, also known in Chinese as hukou, determines not only a citizen’s residence but also what kind of social services individuals are eligible for…In Beijing, which has an estimated 5 million migrant workers, none of these people are allowed to obtain state-sponsored health care or schooling if their hukou is registered in their hometowns—which most likely it is. As a result, their children—many of whom are born in the Chinese capital—can only attend privately-run and unapproved schools. (Mong A, Gu B. In Beijing, 40,000 students stranded. MSNBC, August 19, 2011. http://behindthewall.msnbc.msn.com/_news/2011/08/19/7413538-in-beijing-40000-students-stranded?lite)

Even people who move from agrarian regions to the cities, still are registered as agrarian/rural and do not get the same rights or even education for their children. This disparity, combined with severe pollution, corruption, and a host of other problems, will affect China more than most realize.

Notice some observations from secular sources:

China will do anything to grow its economy, as the alternatives will lead to political unrest. A lot of peasants moved to the cities in search of higher-paying jobs during the go-go times. Because China lacks the social safety net of the developed world, unemployed people aren’t just inconvenienced by the loss of their jobs, they starve (this explains the high savings rate in China) and hungry people don’t complain, they riot. Once you look at what’s taking place in the Chinese economy through that lens, the decisions of its leaders start making sense, or at least become understandable. (Vitaliy N. Katsenelson. China: No Shortcut to Greatness. The Daily Reckoning, March 1, 2010)

So, China has to be careful. It is likely to have unrest, even though it is getting wealthier.

The USA on the other hand is getting poorer. It just does not know it. Civil unrest, including possible race riots, will happen in the USA.

I would also add that WHEN the USA has to increase interest rates, this will lead to a downward spiral, that while it likely will have some “ups”, while result in the USA being taken over and destroyed. The Bible warns about the indebted one getting taken over by its creditors at the appointed time of the end (cf. Habakkuk 2), and the USA is currently the greatest debtor nation in the history of the world. And after interest rates rise for the USA dollar, it will be worse in the USA than almost any economist will publicly admit.

The Euro, or some other currency with European backing, will replace the USA dollar.

Some articles of possibly related interest may include:

China, Its Biblical Past and Future, Part 1: Genesis and Chinese Characters Where did the Chinese people come from? 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?
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? What will happen to the Jews in Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo nations? Why might God allow them to be punished first?
Will the Anglo-Nations be Divided and Have People Taken as Slaves? Will the lands of the United States, United Kingdom, Canada, Australia, and New Zealand be divided? What does Bible prophecy teach? Are there non-biblical prophecies that support this idea? Who will divide those lands? Who will end up with the lands and the people?
Who is the King of the North? Is there one? Do biblical and Roman Catholic prophecies point to the same leader? Should he be followed? Who will be the King of the North discussed in Daniel 11? Is a nuclear attack prophesied to happen to the English-speaking peoples of the United States, Great Britain, Canada, Australia, and New Zealand? When do the 1335 days, 1290 days, and 1260 days (the time, times, and half a time) of Daniel 12 begin? When does the Bible show that economic collapse will affect the United States?
Barack Obama, Prophecy, and the Destruction of the United States This is a 160 page book for people truly interested in prophecies related to Barack Obama and the United States, including learning about many that have already been fulfilled (which the book documents in detail) and those that will be fulfilled in the future. It also has a chapter about Mitt Romney. This book is available to order at www.barackobamaprophecy.com. The physical book can also be purchased at Amazon from the following link: Barack Obama, Prophecy, and the Destruction of the United States: Is Barack Obama Fulfilling Biblical, Islamic, Catholic, Kenyan, and other America-Related Prophecies? What About Mitt Romney?
Barack Obama, Prophecy, and the Destruction of the United States–Amazon Kindle edition. This electronic version is available for only US$2.99. And you do not need an actual Kindle device to read it. Why? Amazon will allow you to download it to almost any device: Please click HERE to download one of Amazon’s Free Reader Apps. After you go to for your free Kindle reader and then go to Barack Obama, Prophecy, and the Destruction of the United States–Amazon Kindle edition.)