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‘Death of the Dollar’

December 28, 2014

For more than four years now Michael Maloney has been demonstrating to audiences around the world that every 30-40 years the world has an entirely new global monetary system, that the current monetary system (the U.S. dollar standard) is aging and becoming unstable, and, just like the previous monetary systems, will soon implode.

On June 1st, 2014, at the Cambridge House Investment Conference in Vancouver, Canada, he updated his “Death of the Dollar” presentation and showed how the “Nails in the Coffin of the Dollar Standard” are now coming faster and are more furious than ever before. He believes that there will be a global currency crisis before the end of this decade and that the days of the dollar standard are numbered.

In a second presentation on the same day he makes the most convincing argument yet that there is a massive deflation coming, that there will probably be an overnight devaluation of the dollar and huge overnight revaluation of gold, and, though it will be painful for most, it is the greatest opportunity in history for those who are prepared.

Mike Maloney, author of the best selling book on investing in precious metals “Guide to Investing In Gold and Silver” and the host of the series “Hidden Secrets of Money”.

Uploaded by Mike Maloney

*China To Launch Yuan Swap Trading With Russian Rubles On Monday

(excerpt)

From Bloomberg:

China will allow trading in forwards and swaps between the yuan and three more currencies in a bid to reduce foreign-exchange risks amid increased volatility in emerging markets.
The China Foreign Exchange Trade System will begin such contracts with Malaysia’s ringgit, Russia’s ruble, and the New Zealand dollar from Dec. 29, it said in a statement on its website today. That will extend the yuan’s swaps trading to 11 currencies on the interbank foreign-exchange market.
A plunge in Russia’s ruble this month to a record low sparked a selloff in developing nations’ assets, leading to a surge in currency volatility. The new contracts come amid efforts by China to increase the international use of the yuan, as the world’s second-largest economy promotes it as an alternative to the U.S. dollar for global trade and finance. Malaysia and Russia are China’s eighth and ninth biggest trading partners, according to data compiled by Bloomberg.

“This will provide companies with better hedging tools, and at the same time, make currency trading more efficient,” said Ju Wang, a senior currency strategist at HSBC Holdings Plc in Hong Kong. “China won’t stop yuan globalization or capital-account opening because of the volatility in emerging market currencies.”

*China Steps In as World’s New Bank

(excerpt)

Thanks to China, Christine Lagarde of the International Monetary Fund, Jim Yong Kim of the World Bank and Takehiko Nakao of the Asian Development Bank may no longer have much meaningful work to do.

Beijing’s move to bail out Russia, on top of its recent aid for Venezuela and Argentina, signals the death of the post-war Bretton Woods world. It’s also marks the beginning of the end for America’s linchpin role in the global economy and Japan’s influence in Asia.

By William Pesek

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