Home > federal reserve, politics, World Issues > Chinese Yuan becomes World Bank alternative

Chinese Yuan becomes World Bank alternative


Reuters headline from November 11th 2009.

World Bank: yuan to become alternative reserve currency

In a statement by the World Bank President Robert Zoellick in November of 2009 : “The U.S. dollar’s role as a reserve currency was “relatively secure”, but the Chinese yuan will provide an alternative over time.  Over the next 10-15 years, you will firstly see renminbi to be internationalised and provide an alternative.”

He said this at a World Bank conference in Singapore.   Why is this important?   Because if we ever give full authority to the Federal Reserve to manage our banking system, we have already been warned that we will be pushed out as the dominant currency of the world and replaced by the Yuan.

Mr. Zoellick capped off his statement with a warning/hint to the people of the United States.  “The U.S. should not be complacent about the dollar.”

All that is needed to pull of this economic coup is for congress to put the Federal Reserve in charge of monitoring and overseeing our banks to the level at which the Federal Reserve can shut down a bank for non-compliance with their goals.

ITIA

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