Day of reckoning looms for the U.S. dollar

[Arraya]

http://www.telegraph.co.uk/finance/financetopics/financialcrisis/5325805/Chinas-yuan-set-to-usurp-US-dollar-as-worlds-reserve-currency.html
The Chinese yuan is preparing to overtake the US dollar as the world’s reserve currency, economist Nouriel Roubini has warned.

Professor Roubini, of New York University’s Stern business school, believes that while such a major change is some way off, the Chinese government is laying the ground for the yuan’s ascendance.

http://www.ft.com/cms/s/0/996b1af8-43ce-11de-a9be-00144feabdc0.html
Brazil and China will work towards using their own currencies in trade transactions rather than the US dollar, according to Brazil’s central bank and aides to Luiz Inácio Lula da Silva, Brazil’s president.

The move follows recent Chinese challenges to the status of the dollar as the world’s leading international currency.

[Arraya]

http://financialsense.com/fsu/editorials/willie/2009/0521.html
Numerous events have taken place of global importance. Alone, each story seems of some significance. Together, they paint a mosaic of extreme change in a very dangerous sequence of events that fit together. The greater aggregate story is that a tremendous paradigm shift is underway, with early steps and major moves by global players in clear view. The Western analysts and pundits and mavens are missing it. A PARADIGM SHIFT HAS BEGUN, WITH BANKING POWER SHIFTING TO THE CREDITOR NATIONS AS THE USDOLLAR IS SUPPLANTED, MADE POSSIBLE BY SEVERAL NEW INSTITUTIONAL PILLARS AS WELL AS NEWLY FORGED ALLIANCES. The consequences are significant and will change the face of global banking and commerce. The Hat Trick Letter has described the various steps and their importance all along the way. Much more detail is provided for each major point to follow in the HTLetter reports. Some in the United States and England believe that a return to normalcy comes. They are wrong by 180 degrees. The G20 Meeting of finance ministers and heads of state was the warning. The message from that meeting in London has been long forgotten, a call made in my public article immediately after its conclusion. This article provides an outline of events that have occurred only in the last few weeks, as the pace is accelerating for transformation that begins at the foundation. Piece it all together, use some mental power, sprinkle with only a little imagination, connect some dots easily, and take a look at the global picture that is emerging. Yesterday came the crowning blow, as the United Arab Emirates rejected the Saudis in the Gulf monetary union. My belief is that the rising power in the UAE wants Russia instead of the Saudis, who are tied at the US hip.

[Arraya]

http://financialsense.com/fsu/editorials/willie/2009/0521.html
Numerous events have taken place of global importance. Alone, each story seems of some significance. Together, they paint a mosaic of extreme change in a very dangerous sequence of events that fit together. The greater aggregate story is that a tremendous paradigm shift is underway, with early steps and major moves by global players in clear view. The Western analysts and pundits and mavens are missing it. A PARADIGM SHIFT HAS BEGUN, WITH BANKING POWER SHIFTING TO THE CREDITOR NATIONS AS THE USDOLLAR IS SUPPLANTED, MADE POSSIBLE BY SEVERAL NEW INSTITUTIONAL PILLARS AS WELL AS NEWLY FORGED ALLIANCES. The consequences are significant and will change the face of global banking and commerce. The Hat Trick Letter has described the various steps and their importance all along the way. Much more detail is provided for each major point to follow in the HTLetter reports. Some in the United States and England believe that a return to normalcy comes. They are wrong by 180 degrees. The G20 Meeting of finance ministers and heads of state was the warning. The message from that meeting in London has been long forgotten, a call made in my public article immediately after its conclusion. This article provides an outline of events that have occurred only in the last few weeks, as the pace is accelerating for transformation that begins at the foundation. Piece it all together, use some mental power, sprinkle with only a little imagination, connect some dots easily, and take a look at the global picture that is emerging. Yesterday came the crowning blow, as the United Arab Emirates rejected the Saudis in the Gulf monetary union. My belief is that the rising power in the UAE wants Russia instead of the Saudis, who are tied at the US hip.

[Arraya]

http://financialsense.com/fsu/editorials/willie/2009/0521.html
Numerous events have taken place of global importance. Alone, each story seems of some significance. Together, they paint a mosaic of extreme change in a very dangerous sequence of events that fit together. The greater aggregate story is that a tremendous paradigm shift is underway, with early steps and major moves by global players in clear view. The Western analysts and pundits and mavens are missing it. A PARADIGM SHIFT HAS BEGUN, WITH BANKING POWER SHIFTING TO THE CREDITOR NATIONS AS THE USDOLLAR IS SUPPLANTED, MADE POSSIBLE BY SEVERAL NEW INSTITUTIONAL PILLARS AS WELL AS NEWLY FORGED ALLIANCES. The consequences are significant and will change the face of global banking and commerce. The Hat Trick Letter has described the various steps and their importance all along the way. Much more detail is provided for each major point to follow in the HTLetter reports. Some in the United States and England believe that a return to normalcy comes. They are wrong by 180 degrees. The G20 Meeting of finance ministers and heads of state was the warning. The message from that meeting in London has been long forgotten, a call made in my public article immediately after its conclusion. This article provides an outline of events that have occurred only in the last few weeks, as the pace is accelerating for transformation that begins at the foundation. Piece it all together, use some mental power, sprinkle with only a little imagination, connect some dots easily, and take a look at the global picture that is emerging. Yesterday came the crowning blow, as the United Arab Emirates rejected the Saudis in the Gulf monetary union. My belief is that the rising power in the UAE wants Russia instead of the Saudis, who are tied at the US hip.

[Arraya]

http://financialsense.com/fsu/editorials/willie/2009/0521.html
Numerous events have taken place of global importance. Alone, each story seems of some significance. Together, they paint a mosaic of extreme change in a very dangerous sequence of events that fit together. The greater aggregate story is that a tremendous paradigm shift is underway, with early steps and major moves by global players in clear view. The Western analysts and pundits and mavens are missing it. A PARADIGM SHIFT HAS BEGUN, WITH BANKING POWER SHIFTING TO THE CREDITOR NATIONS AS THE USDOLLAR IS SUPPLANTED, MADE POSSIBLE BY SEVERAL NEW INSTITUTIONAL PILLARS AS WELL AS NEWLY FORGED ALLIANCES. The consequences are significant and will change the face of global banking and commerce. The Hat Trick Letter has described the various steps and their importance all along the way. Much more detail is provided for each major point to follow in the HTLetter reports. Some in the United States and England believe that a return to normalcy comes. They are wrong by 180 degrees. The G20 Meeting of finance ministers and heads of state was the warning. The message from that meeting in London has been long forgotten, a call made in my public article immediately after its conclusion. This article provides an outline of events that have occurred only in the last few weeks, as the pace is accelerating for transformation that begins at the foundation. Piece it all together, use some mental power, sprinkle with only a little imagination, connect some dots easily, and take a look at the global picture that is emerging. Yesterday came the crowning blow, as the United Arab Emirates rejected the Saudis in the Gulf monetary union. My belief is that the rising power in the UAE wants Russia instead of the Saudis, who are tied at the US hip.

[Arraya]

http://financialsense.com/fsu/editorials/willie/2009/0521.html
Numerous events have taken place of global importance. Alone, each story seems of some significance. Together, they paint a mosaic of extreme change in a very dangerous sequence of events that fit together. The greater aggregate story is that a tremendous paradigm shift is underway, with early steps and major moves by global players in clear view. The Western analysts and pundits and mavens are missing it. A PARADIGM SHIFT HAS BEGUN, WITH BANKING POWER SHIFTING TO THE CREDITOR NATIONS AS THE USDOLLAR IS SUPPLANTED, MADE POSSIBLE BY SEVERAL NEW INSTITUTIONAL PILLARS AS WELL AS NEWLY FORGED ALLIANCES. The consequences are significant and will change the face of global banking and commerce. The Hat Trick Letter has described the various steps and their importance all along the way. Much more detail is provided for each major point to follow in the HTLetter reports. Some in the United States and England believe that a return to normalcy comes. They are wrong by 180 degrees. The G20 Meeting of finance ministers and heads of state was the warning. The message from that meeting in London has been long forgotten, a call made in my public article immediately after its conclusion. This article provides an outline of events that have occurred only in the last few weeks, as the pace is accelerating for transformation that begins at the foundation. Piece it all together, use some mental power, sprinkle with only a little imagination, connect some dots easily, and take a look at the global picture that is emerging. Yesterday came the crowning blow, as the United Arab Emirates rejected the Saudis in the Gulf monetary union. My belief is that the rising power in the UAE wants Russia instead of the Saudis, who are tied at the US hip.

[Arraya]

http://www.marketoracle.co.uk/Article10755.html
The US dollar is not Russia’s basic reserve currency anymore. The euro-based share of reserve assets of Russia’s Central Bank increased to the level of 47.5 percent as of January 1, 2009 and exceeded the investments in dollar assets, which made up 41.5 percent, The Vedomosti newspaper wrote.

The dollar has thus lost the status of the basic reserve currency for the Russian Central Bank, the annual report, which the bank provided to the State Duma, said.

[Arraya]

http://www.marketoracle.co.uk/Article10755.html
The US dollar is not Russia’s basic reserve currency anymore. The euro-based share of reserve assets of Russia’s Central Bank increased to the level of 47.5 percent as of January 1, 2009 and exceeded the investments in dollar assets, which made up 41.5 percent, The Vedomosti newspaper wrote.

The dollar has thus lost the status of the basic reserve currency for the Russian Central Bank, the annual report, which the bank provided to the State Duma, said.

[Arraya]

http://www.marketoracle.co.uk/Article10755.html
The US dollar is not Russia’s basic reserve currency anymore. The euro-based share of reserve assets of Russia’s Central Bank increased to the level of 47.5 percent as of January 1, 2009 and exceeded the investments in dollar assets, which made up 41.5 percent, The Vedomosti newspaper wrote.

The dollar has thus lost the status of the basic reserve currency for the Russian Central Bank, the annual report, which the bank provided to the State Duma, said.

[Arraya]

http://www.marketoracle.co.uk/Article10755.html
The US dollar is not Russia’s basic reserve currency anymore. The euro-based share of reserve assets of Russia’s Central Bank increased to the level of 47.5 percent as of January 1, 2009 and exceeded the investments in dollar assets, which made up 41.5 percent, The Vedomosti newspaper wrote.

The dollar has thus lost the status of the basic reserve currency for the Russian Central Bank, the annual report, which the bank provided to the State Duma, said.

[Arraya]

http://www.marketoracle.co.uk/Article10755.html
The US dollar is not Russia’s basic reserve currency anymore. The euro-based share of reserve assets of Russia’s Central Bank increased to the level of 47.5 percent as of January 1, 2009 and exceeded the investments in dollar assets, which made up 41.5 percent, The Vedomosti newspaper wrote.

The dollar has thus lost the status of the basic reserve currency for the Russian Central Bank, the annual report, which the bank provided to the State Duma, said.

[Arraya]

http://www.atimes.com/atimes/China_Business/JG30Cb01.html

The vast expansion of US-led globalized trade since the Cold War ended in 1991 had been fueled by unsustainable serial debt bubbles built on dollar hegemony, which came into existence on a global scale with the emergence of deregulated global financial markets that made cross-border flow of funds routine since the 1990s.

Dollar hegemony is a geopolitically constructed peculiarity through which critical commodities, the most notable being oil, are denominated in fiat dollars, not backed by gold or other species since then president Richard Nixon took the US dollar off gold in 1971. The recycling of petro-dollars into other dollar assets is the price the US has extracted from oil-producing countries for US tolerance of the oil-exporting cartel since 1973. After that, everyone accepts dollars because dollars can buy oil, and every

economy needs oil. Dollar hegemony separates the trade value of every currency from direct connection to the productivity of the issuing economy to link it directly to the size of dollar reserves held by the issuing central bank. Dollar hegemony enables the US to own indirectly but essentially the entire global economy by requiring its wealth to be denominated in fiat dollars that the US can print at will with little in the way of monetary penalties.

[Arraya]

http://www.atimes.com/atimes/China_Business/JG30Cb01.html

The vast expansion of US-led globalized trade since the Cold War ended in 1991 had been fueled by unsustainable serial debt bubbles built on dollar hegemony, which came into existence on a global scale with the emergence of deregulated global financial markets that made cross-border flow of funds routine since the 1990s.

Dollar hegemony is a geopolitically constructed peculiarity through which critical commodities, the most notable being oil, are denominated in fiat dollars, not backed by gold or other species since then president Richard Nixon took the US dollar off gold in 1971. The recycling of petro-dollars into other dollar assets is the price the US has extracted from oil-producing countries for US tolerance of the oil-exporting cartel since 1973. After that, everyone accepts dollars because dollars can buy oil, and every

economy needs oil. Dollar hegemony separates the trade value of every currency from direct connection to the productivity of the issuing economy to link it directly to the size of dollar reserves held by the issuing central bank. Dollar hegemony enables the US to own indirectly but essentially the entire global economy by requiring its wealth to be denominated in fiat dollars that the US can print at will with little in the way of monetary penalties.

[Arraya]

http://www.atimes.com/atimes/China_Business/JG30Cb01.html

The vast expansion of US-led globalized trade since the Cold War ended in 1991 had been fueled by unsustainable serial debt bubbles built on dollar hegemony, which came into existence on a global scale with the emergence of deregulated global financial markets that made cross-border flow of funds routine since the 1990s.

Dollar hegemony is a geopolitically constructed peculiarity through which critical commodities, the most notable being oil, are denominated in fiat dollars, not backed by gold or other species since then president Richard Nixon took the US dollar off gold in 1971. The recycling of petro-dollars into other dollar assets is the price the US has extracted from oil-producing countries for US tolerance of the oil-exporting cartel since 1973. After that, everyone accepts dollars because dollars can buy oil, and every

economy needs oil. Dollar hegemony separates the trade value of every currency from direct connection to the productivity of the issuing economy to link it directly to the size of dollar reserves held by the issuing central bank. Dollar hegemony enables the US to own indirectly but essentially the entire global economy by requiring its wealth to be denominated in fiat dollars that the US can print at will with little in the way of monetary penalties.

[Arraya]

http://www.atimes.com/atimes/China_Business/JG30Cb01.html

The vast expansion of US-led globalized trade since the Cold War ended in 1991 had been fueled by unsustainable serial debt bubbles built on dollar hegemony, which came into existence on a global scale with the emergence of deregulated global financial markets that made cross-border flow of funds routine since the 1990s.

Dollar hegemony is a geopolitically constructed peculiarity through which critical commodities, the most notable being oil, are denominated in fiat dollars, not backed by gold or other species since then president Richard Nixon took the US dollar off gold in 1971. The recycling of petro-dollars into other dollar assets is the price the US has extracted from oil-producing countries for US tolerance of the oil-exporting cartel since 1973. After that, everyone accepts dollars because dollars can buy oil, and every

economy needs oil. Dollar hegemony separates the trade value of every currency from direct connection to the productivity of the issuing economy to link it directly to the size of dollar reserves held by the issuing central bank. Dollar hegemony enables the US to own indirectly but essentially the entire global economy by requiring its wealth to be denominated in fiat dollars that the US can print at will with little in the way of monetary penalties.

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