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Since China has dumped the US oil dollar, will the US economy collapse?

PaulBot415 2012/09/21 04:15:35
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Dollar no longer primary oil currency as China begins to trade oil using Yuan!
by Kenneth Schortgen Jr, http://www.examiner.com/
On Sept. 11, Pastor Lindsey Williams, former minister to the global oil companies during the building of the Alaskan pipeline, announced the most significant event to affect the U.S. dollar since its inception as a currency. For the first time since the 1970′s, when Henry Kissenger forged a trade agreement with the Royal house of Saud to sell oil using only U.S. dollars, China announced its intention to bypass the dollar for global oil customers and began selling the commodity using their own currency.
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Lindsey Williams: “The most significant day in the history of the American dollar, since its inception, happened on Thursday, Sept. 6. On that day, something took place that is going to affect your life, your family, your dinner table more than you can possibly imagine.”
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“On Thursday, Sept. 6… just a few days ago, China made the official announcement. China said on that day, our banking system is ready, all of our communication systems are ready, all of the transfer systems are ready, and as of that day, Thursday, Sept. 6, any nation in the world that wishes from this point on, to buy, sell, or trade crude oil, can do using the Chinese currency, not the American dollar. – Interview with Natty Bumpo on the Just Measures Radio network, Sept. 11
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This announcement by China is one of the most significant sea changes in the global economic and monetary systems, but was barely reported on due to its announcement taking place during the Democratic convention last week. The ramifications of this new action are vast, and could very well be the catalyst that brings down the dollar as the global reserve currency, and change the entire landscape of how the world purchases energy.
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Ironically, since Sept. 6, the U.S. dollar has fallen from 81.467 on the index to today’s price of 79.73. While analysts will focus on actions taking place in the Eurozone, and expected easing signals from the Federal Reserve on Thursday regarding the fall of the dollar, it is not coincidence that the dollar began to lose strength on the very day of China’s announcement.
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Since China is not a natural oil producing nation, the question most people will ask is how will the Asian economic power get enough oil to affect dollar hegemony? That question was also answered by Lindsey Williams when he pointed out a new trade agreement that was signed on Sept. 7 between China and Russia, in which the Russian Federation agreed to sell oil to China in any and all amounts they desired.
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Lindsey Williams: “This has never happened in the history of crude oil. Since crude oil became the motivating force behind our (U.S.) entire economy, and everything in our lives revolves around crude oil. And since crude oil became the motivating factor behind our economy… never, ever has crude oil been sold, bought, traded, in any country in the world, without using the American dollar.”
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“Crude oil is the standard currency of the world. Not the Yen, not the Pound, not the Dollar. More money is transferred around the world in crude oil than in any other product.”
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“On Friday, Sept. 7, Russia announced, that as of today, we will supply China with all of the crude oil that they need, no matter how much they want… there is no limit. And Russia will not sell or trade this crude oil to China using the American dollar.” -Interview with Natty Bumpo on the Just Measures Radio network, Sept. 11
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These duo actions by the two most powerful adversaries of the U.S. economy and empire, have now joined in to make a move to attack the primary economic stronghold that keeps America as the most powerful economic superpower. Once the majority of the world begins to bypass the dollar, and purchase oil in other currencies, then the full weight of our debt and diminished manufacturing structure will come crashing down on the American people.
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This new agreement between Russia and China also has serious ramifications in regards to Iran, and the rest of the Middle East. No longer will U.S. sanctions against Iran have a measurable affect, as the rogue nation can simply choose to sell its oil to China, and receive Yuan in return, and use that currency to trade for the necessary resources it needs to sustain its economy and nuclear programs.
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The world changed last week, and there was nary a word spoken by Wall Street or by politicians who reveled in their own magnificence as this event took place during the party conventions. A major blow was done on Sept. 6 to the American empire, and to the power of the U.S. dollar as the world’s reserve currency. And China, along with Russia, are now aiming to become the controllers of energy, and thus, controllers of a new petro-currency.
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  • Sidrah Zaheer 2013/03/28 19:32:38
    yes, why?
    Sidrah Zaheer
    It will eventually.
  • TheR 2012/09/21 13:56:34
    no, why?
    TheR
    Because the US will pull it's head out of the snowbank, and realize that the bridge that was said to go nowhere in Alaska, certainly does goes somewhere. And the somewhere is for the US to stop buying Saudi Oil, and make a deal with Russia in buying Russian Oil, piped from Russia to Alaska. This deal will also halt exploitation of Alaskan Oil Resources.

    This will put the brakes on Currency manipulation, create new jobs in Russia and the US. Since Russia is now a Federation they have more in common with the US, than China. Sooner or later Russia is going to see how much of a stick in the mud China really is, because they are so Government Centered, and are not able to reach in becoming a Developed State, because China has no Free Enterprise.
  • PaulBot415 TheR 2012/09/21 16:58:24
    PaulBot415
    what about the compounded debt that our country owes, wont that affect the relationships between us and russia? Is it possible that what that woman is saying in the article is true? Or could the current administration be leading us toward that future?
  • TheR PaulBot415 2012/09/22 00:21:25
    TheR
    Yes the debt crisis is a problem, no one has come up with a way to solve until now. I have a very good idea. But you know. No one listens. Obama and Romney have no plan, never have given solutions, or goals. Anyone who believes that the Government bailed out the Banks is a total moron, because the Government has more debt, and can't even bail itself out. That maneuver by Bush and Paulson told US Investors the Government has more power than the Private Sector.

    I have no idea where Obama or Romney are going. I only know where I am going. They make no sense, I make good sense.

    http://www.sodahead.com/unite...
  • burningsnowman 2012/09/21 04:53:19 (edited)
    no, why?
    burningsnowman
    The US economy is slowly collapsing but the dollar might have people temporarily rally to it because the Eurozone is such a mess.
  • abubincrazy 2012/09/21 04:24:26 (edited)
    no, why?
    abubincrazy
    +2
    But Obama hopes so....RIGHT AFTER the election!



    He has set up a complete collapse of our economy next year.



    Taxmageddon is really The Obamapocalypse.( just try to say that 3 times fast!)



    If there is turmoil, he can enact Martial Law and enslave America, as has been his wettest dream from his communist father.
  • yes, why?
    ☆The Rock☆ * AFCL* The Sheriff!!

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