Japan and China Cutting Out US Dollar: $Billions to be Saved

“I will break the pride of your power” (Leviticus 26:19)

The US Dollar is again being removed as part of additional international trade:

China, Japan to Use Yen, Yuan and Not the USD

1 June 2012…

China and Japan (China’s main trading partner) will no longer use the U.S. dollar as the only currency in trade with each other. They will use the Yuan and the Yen directly with each other. This will see the dollar removed from a large chunk of the world’s trade –in itself, not a very large percentage, but a significant one. It’s the start of a trend that is set to grow…The purpose of foreign exchange and gold reserves is to provide ‘global money’ (which includes gold) for potential rainy days.

China–Japan Currency Deal Ushers in a New Era

This will be the first time that China has allowed a major currency, apart from the US dollar, to trade directly with the yuan…“This will help lower currency conversion costs for economic entities, facilitate the use of the yuan and Japanese yen in bilateral trade and investment, promote financial cooperation and enhance economic and financial ties between the two countries.”

…“This is part of China’s broader strategy to reduce dependence on the dollar. The yen has been chosen because of large trade flows between the two countries,” Reuters quoted Dariusz Kowalczyk, senior economist and strategist at Credit Agricole CIB in Hong Kong, as saying.

China and Japan to begin direct currency trading

China and Japan will start direct currency trading on Friday as Beijing marks another stage on its journey to internationalise the yuan…The official Xinhua news agency reported that the deal will save about $3.0 billion in annual costs tied to using the dollar in trade transactions.

Today, marks the first day this is happening.

This will cost the USA in many ways.

First, the USA will stop generating as much earnings by the US dollar no longer being an intermediary. The USA has historically benefited disproportionately from international trade that it is not directly involved in because of the widespread use of the USA dollar at the currency of most cross-border trade.

Second, less US dollars now need to be held in reserves as the nations that reduce trading with it will need less of it. This will mean that at some point, foreign holders will likely want to redeem those dollars for goods and services–goods and services that the USA is unlikely to be able to supply at current prices. Amongst other things, this can lead to hyperinflation and a dramatic reduction in the value of the USA dollar and the standard of living in the USA.

Also, notice a prophecy from the Bible:

3 For the vision is yet for an appointed time; But at the end it will speak, and it will not lie. Though it tarries, wait for it; Because it will surely come, It will not tarry…5 Indeed, because he transgresses by wine, He is a proud man… 6 “Will not all these take up a proverb against him, And a taunting riddle against him, and say, ‘Woe to him who increases What is not his–how long? And to him who loads himself with many pledges’? 7 Will not your creditors rise up suddenly? Will they not awaken who oppress you? And you will become their booty. 8 Because you have plundered many nations, All the remnant of the people shall plunder you (Habakkuk 2:3,5,6-8).

Now, the USA is the largest debtor nation in the history of humanity. And while we are not yet to the point that its creditors will rise up suddenly, the moves by Japan and China are another step in that direction. Europe already has a currency, the Euro (which it may modify), which had reduced its need for US dollars in trade. Russia, Europe, and the Arab world have all taken steps the past few years to move away from the USA dollar. Others nations, like Korea, will as well.

Third, as I wrote in 2012 and the Rise of the Secret Sect, the world is moving away from the US dollar and more towards gold and other currencies. The move toward gold backing is a vote of lessor confidence in the US dollar. And right now, the USA dollar is only backed by confidence in it (along with implied military threats).

The USA has long trusted in its wealth, dollar, and military. Its pride in all of those will be broken (Leviticus 26:19) and the cracks are forming.

Fourth, the Bible tells of the time when the kings of the sunrise (Revelation 16:12) will get together militarily. And while Japan and China are not military allies, today’s move joins them closer together. And Bible prophecy involving what must be a higly Asian (with Russia as part of it) military will come to pass.

To learn more, please check out the following articles:

Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, English, 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?
Will the Anglo-Nations be Divided? 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?
Prophecies of Barack Obama? Are there biblical and non-biblical prophecies about Barack Obama. Did Nostradamus predict Barack Obama dealing with the Antichrist? This is a lengthy article with many prophecies that Barack Obama may end up fulfilling.
Barack Obama, Prophecy, and the Destruction of the United States Some claim that Barack Obama is the prophesied “son of Kenya”. Might Bible prophecy be fulfilled by him?
Who is the King of the West? Why is there no End-Time King of the West in Bible Prophecy? Is the United States the King of the West?
Abortion, the Bible, and a Woman’s Right to Choose Do you know what the Bible teaches on this? Has the Roman Catholic Church allowed abortions? What about the Living Church of God?
The Plain Truth About Gold in Prophecy. How Should a Christian View Gold? What do economists and the Bible teach about gold? Gold and silver may drop in value. Inflation/deflation? What do Christians need to know about gold?
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”? Is an emerging European power “the daughter of Babylon”? What is ahead for Europe?
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?
Korea in Prophecy, Any Witness? Where did the Korean people come from? Does God have a plan for the Koreans? Is Korea mentioned in any prophecies? Will Koreans be among the first in the Kingdom of God? 한국의 언어로 : 한국 예언, 모든 증인에?
Japan, Its Biblical Past and Future, Part 1: Any Witness? Where did the Japanese people come from? Have they had
any witness?
Japan, Its Biblical Past and Future, Part 2: Prophecy Japan in prophecy. What is prophesied for Japan? Will God save the Japanese?
Russia: Its Origins and Prophesied Future Russia in prophecy. Where do the Russians come from? What about those in the Ukraine? What is prophesied for Russia and its allies? What will they do to the Europeans that supported the Beast in the end?
Is Russia the King of the North? Some claim it is. But what does the Bible teach?