Wednesday, February 27, 2013

Dollar Collapse Update: Bank of England Closes In On China Currency Deal, Fed Downplays New Bubble Worries And Already Planning QE5, G20 & IMF Push for Global Fed, Global Currency, And World’s Largest Gold Storage Dumping US Customers!

Bank of England closes in on China currency deal
Sir Mervyn King, Governor of the Bank of England, is on the brink of striking a deal with the People’s Bank of China which would cement the UK’s role as the leading G7 trade hub for the world’s fastest growing currency.
The Bank of England expects to sign a final agreement to set up a three-year yuan-sterling swap line “shortly”, during a meeting between Sir Mervyn and his counterpart Zhou Xiaochuan in Beijing.
European and US officials have been pressing China for years to do more to open up the yuan to market forces, saying its artificial weakness was one of the key imbalances of the global economy.
Beijing is slowly delivering, although it still keeps a tight rein on gains for the currency for fear it will weaken its export-powerhouse economy, which has been the biggest engine of global growth for a decade.

Fed Downplays New Bubble Worries And Planning QE5

Federal Reserve Chairman Ben S. Bernanke minimized concerns that the central bank’s easy monetary policy has spawned economically-risky asset bubbles in comments at a meeting with dealers and investors this month, according to three people with knowledge of the discussions.
The people, who asked not to be identified because the talks were private, said Bernanke made the remarks at a meeting in early February with the Treasury Borrowing Advisory Committee. Fed spokeswoman Michelle Smith declined to comment.
The Fed chairman brushed off the risks of asset bubbles in response to a presentation on the subject from the group, one person said. Among the concerns raised, according to this person, were rising farmland prices and the growth of mortgage real estate investment trusts. Falling yields on speculative- grade bonds also were mentioned as a potential concern, two people said.

“Given the Fed’s history, [increasing the amount of the Fed’s purchases is] the most likely course of action,” Pento told Yahoo. He said Bernanke “doesn’t understand that his balance sheet is unshrinkable.”
Pento predicted the next quantitative easing, which would be QE5 on his scorecard of the Fed’s easy money program, could raise the government’s monthly debt purchases from $85 billion per month to as much as $150 billion per month.
The prevailing sentiment at the Fed, as conveyed by the minutes of its January meeting and by members’ recent remarks, is that the central bank’s efforts to pump tens of billions of dollars into the economy every month should not end anytime soon.

Killing the Dollar: G20 & IMF Push for Global Fed, Global Currency

While headline stories about averting the dangers of an international “currency war” dominated news coverage of the recently concluded G20 meeting in Moscow, the real unreported story is that the global gathering of central bankers and finance ministers is pushing forward with their plan for “supersizing” the International Monetary Fund. The end goal is to transform the IMF into a global Federal Reserve, with the ability to flood the world with huge new volumes of loans and currency. It would also wield vast financial regulatory powers.
The IMF’s unit of account, or “currency,” known as a Special Drawing Right (SDR), is being readied for eventual adoption as the replacement for the U.S. dollar in international transactions, to lead the way toward eventual adoption of the SDR or some other designated unit as the global currency, much in the same way that the euro was foisted upon the people of Europe as a replacement of their national currencies.
The mainstream media seem intent on keeping the public fixated on the latest Kardashian frolics, sportsmania, and Democrat-Republican political mudwrestling, while coverage of the G7, G20, and IMF confabs that are determining the economic fate of the world receive short shrift. And the little reporting of these events that does leak out usually amounts to little more than regurgitation of the pre-scripted talking points of the conference principals. Over the past four years, The New American has published numerous articles detailing the radical plans currently underway for the total destruction of the dollar and the plans for supersizing the IMF into a global Fed. (See the linked stories at the bottom of this article).

Expert: Currency War Will Escalate Worldwide

There is a currency war, insists Gerald Celente, editor and publisher of the Trends Journal, and it’s going to degenerate into all out combat.
Celente’s declaration and forecast stand in sharp contrast to those of global finance leaders who are aiming to bury concerns about a currency war, as the act of competitive currency devaluation is called.
At last weekend’s G20 meeting, the finance leaders promised to “refrain from competitive [currency] devaluation,”

Peter Schiff: “We are headed for a monetary crisis, a dollar crisis

Money manager Peter Schiff predicts, “We are headed for a monetary crisis, a dollar crisis. . . . Money supplies are going to explode, and gold supplies are going to be constricted.”

Read more at 


  1. The economic system will be totally collapsed in the near time.

  2. The value of dollar is falling. Be a smart investor.

  3. Hi there, this weekend is good for me, since this point in time i am reading this wonderful informative paragraph here at
    my residence.

    My web-site :: clickbank review

  4. Hi there, this weekend is good for me, since this point in
    time i am reading this wonderful informative paragraph here at
    my residence.

    Here is my website: clickbank review
    Also see my webpage :: Filipino Social Community

  5. RMB will replace US Dollar very soon!!

  6. Just received my cheque for $500.

    Sometimes people don't believe me when I tell them about how much you can get by taking paid surveys online...

    So I took a video of myself actually getting paid over $500 for taking paid surveys.