Update by Sheldan:"Several nations dedicated to bringing you a new financial system are ready to make a series of vital announcements that are to change forever how your realm uses its many currencies"

Yeah I don't think so! This dude will be the next one to go up in smoke!

NanneeRose wrote:Yeah I don't think so! This dude will be the next one to go up in smoke!

I DO THINK SO.

Read this:

Simon Black: This morning some of the biggest financial news of the year...

October 27, 2014   Region VII, Chile

This morning some of the biggest financial news of the year made huge waves all over Asia.

Yet in the Western press, this hugely important information has barely even been mentioned. (CNBC.com, for example, has yet to report on this story as of 11:45am Eastern...)

So what's the news?

The Chinese government announced that the renminbi will become directly convertible with the Singapore dollar... effective tomorrow morning.

It's clear this deal has been in the works for a while, and it's another major step towards the continued internationalization of the renminbi and unseating of the dollar as the world's dominant reserve currency.

For decades the renminbi has been a tightly controlled currency. It's only been in the last few years that the Chinese government started loosening those controls, primarily in response to the obvious need for a dollar competitor.

The entire world is screaming for an alternative to the dollar and the US government.

Since the end of World War II, the US has been in the driver seat. The Fed essentially sets global monetary policy. Foreign banks are forced to rely on the US banking system. Nearly every nation on earth must hold US dollars and buy US government debt just to be able to trade with one another.

These were sacred privileges entrusted to the US government. And they have been abused time and time again.

The US government spies on its allies. It uses its banking system as a weapon to threaten foreign companies. It fines foreign banks billions of dollars for doing business with countries it doesn't like.

They discredit themselves by continuing to indebt future generations and failing to make tough fiscal decisions.

And the Fed has printed so much money that major foreign institutions are left with no choice but to seek an alternative. Enough is enough.

China is taking the lead in providing the world with another option. And they're not exactly doing this under cover of darkness. These moves have been widely telegraphed, at least to anyone paying attention.

For the last few years the Chinese government has entered into new 'swap agreements' at blazing speed, allowing other nations' central banks and governments to hold the renminbi in reserve.

They've concluded direct trade arrangements (notably with Russia) to settle oil and gas deals in renminbi.

This summer we saw the establishment of a Chinese-led supranational bank intended to compete directly with the IMF.

Just last week the British government issued a new government bond denominated in renminbi.

And now this-- direct convertibility between China and the #1 financial center in Asia, making it possible for ANYONE to trade and hold renminbi through Singapore.

It's so obvious where this train is headed.

But again, this story is hardly covered in the Western press. They're living in a dream world where King Dollar still reigns and the US is the only superpower in the world.

Nonsense. It's imperative to stop listening to the propaganda and start paying attention to facts:

The US government has accumulated more debt than any other nation in the history of the world... and is in a position where they must borrow money to pay interest on the money they've already borrowed.

The Federal Reserve (which issues the US dollar) continues to erode its balance sheet. According to last Wednesday H.4.1 report, the Fed's capital base is a minuscule 1.26% of its total assets.

A year ago it was 1.42%. That was bad enough. But on a proportional basis, the Fed has lost another 11.3% of its capital in the last twelve months.

And according to the Society for Worldwide Interbank Financial Telecommunication (SWIFT), international bank payments denominated in renminbi have nearly tripled in value in the past two years.

These are all objective facts which point to the same conclusion: this current dollar/debt-based system is on the way out.

It's not going to happen overnight, but we're already seeing a slow and orderly exit. And we can see the rest of this trend unfolding years in advance.

Ignoring this could be very hazardous to your financial well-being. And while the Western media might be totally clueless, there are plenty of options for forward-thinking individuals.

Consider holding Hong Kong dollars in addition to US dollars. Hong Kong dollars are currently pegged to the US dollar, so the currency risk is minimal. But if the US dollar declines sharply, Hong Kong (controlled by China) could easily de-peg. This mitigates your downside risk.

Consider trading paper currency savings for productive REAL assets like farmland and private businesses which capitalize on key growth trends.

There are dozens of other solutions out there. You'll be able to find some that are just right for your circumstances.

Until tomorrow,   Simon Black

Senior Editor, SovereignMan.com

http://us7.campaign-archive2.com/?u=6043f7810362a545dc3f006f0&id=db962dfca7&e=10e84318f7

NanneeRose wrote:

ANOTHER ONE.

10-29-2014   Newshound Guru Millionday  Article quote:  "...Dr. Mahdi Keywords Director, Office of the Prime Minister the government's determination to implement the program, which received unanimous popular and parliamentary and official and international acceptance,"  THIS IS THE ANNOUNCEMENT OF THE ACTION THEY ARE TAKING TO REFORM AND ENTER TO INTERNATIONAL ACCEPTANCE -- THE FORMAL ANNOUNCEMENT IS TO IMPLEMENT THE ENTIRE GOV PROGRAMS AND ALSO ALL REFORMS... THEY ARE STATING THAT THE PRIVATIZATION OF THE COUNTRY IS BEING ACTIVATED FOR A MARKET ECONOMY.  THEY HAVE ALSO ANNOUNCED THAT THEY HAVE ALREADY APPROVED ALL GOV PROGRAMS FOR THE NEXT 4 YEARS AS WELL -- AND THE MEETING WAS AN EMERGENCY FOR THE BUDGET FOR 2014 FOR THIS ACTIVATION.  THEY MADE A DECLARATION OF THE ECONOMIC PROGRAM AND ITS HUGE LEAP IN THEIR DEVELOPMENT PROCESS AND THEY ARE VERY EXCITED.

http://www.dinarguru.com/

Yman

This whole Singapore story, Knowing what I do from the historical perspective about the STRATEGIC importance of Singapore I can accept that this very important trading gate to the far east will be one of the focal indications of change.

Currently the SGD is valued at 2.04 in relation to GBP yet gold by the ounce is 0.001 to the GBP

Gold is also £25 ish to the GBP per gram

I assume Singapore will be working to the metric rather than Imperial English weights so before anyone gets to excited about what has been announced we all have to understand not only the average pay of Singapore in comparison to others, but what difference being offered payment in gold would make. If it is a straight one for one then it will make no difference at all, if on the other hand the SGD is to be assigned a different value based on assets and output then we need to pay attention.

Nannee expresses the same views of others including myself of being so completely sickened by false statements that cause much harm to others, like myself I am sure Nannee among others would be among the first to thank you, with warm gratitude for providing a service to others gratis that allowed people to be prepared for life changing events.

The thing is brother, none of us have seen anything change where it matters, on the bank screens. For sure this Singapore news is great along with Germany dropping the dollar in order to trade with Russia, of all the nations of Europe and the East those two nations do not need any reminders of the futility of bearing arms for the bad guys. They will do all they can to avoid such a repeat, my own feeling is roughly in line with yours in so much SOMETHING is going on, where we differ is I have no faith in all the "usual sources" whose predictions all have one thing in common...so far they have all being wrong

Thanks bs well bloody said!!

bs4ever wrote:Yman

This whole Singapore story, Knowing what I do from the historical perspective about the STRATEGIC importance of Singapore I can accept that this very important trading gate to the far east will be one of the focal indications of change.

Currently the SGD is valued at 2.04 in relation to GBP yet gold by the ounce is 0.001 to the GBP

Gold is also £25 ish to the GBP per gram

I assume Singapore will be working to the metric rather than Imperial English weights so before anyone gets to excited about what has been announced we all have to understand not only the average pay of Singapore in comparison to others, but what difference being offered payment in gold would make. If it is a straight one for one then it will make no difference at all, if on the other hand the SGD is to be assigned a different value based on assets and output then we need to pay attention.

Nannee expresses the same views of others including myself of being so completely sickened by false statements that cause much harm to others, like myself I am sure Nannee among others would be among the first to thank you, with warm gratitude for providing a service to others gratis that allowed people to be prepared for life changing events.

The thing is brother, none of us have seen anything change where it matters, on the bank screens. For sure this Singapore news is great along with Germany dropping the dollar in order to trade with Russia, of all the nations of Europe and the East those two nations do not need any reminders of the futility of bearing arms for the bad guys. They will do all they can to avoid such a repeat, my own feeling is roughly in line with yours in so much SOMETHING is going on, where we differ is I have no faith in all the "usual sources" whose predictions all have one thing in common...so far they have all being wrong

ANOTHER SHOCKING NEWS:

DONG AND THE PAN-ASIAN FX TRADING CENTER-JC COLLINS
ECONOMICS
OCTOBER 28, 2014 JC COLLINS  
And How the RMB and VND are Already Directly Convertible
By JC Collins

There has been much discussion over the last few days of how the Chinese yuan and the Singapore dollar are now directly convertible.  The action is of course another move towards the full convertibility and internationalization of the renminbi.  As we have previously discussed, along with the emerging multilateral financial system where the SDR will replace the US dollar as the reserve asset, expanding liquidity by way of SDR bonds, there will also need to be a new exchange rate regime.
We have been seeing bits and pieces of this new regime emerge over the last year and there has been much discussion around the outside borders of such an exchange. Eventually as the US dollar is removed from its status as the world’s primary reserve currency we will see other currencies and commodities look for another peg.  It is likely that commodities will become priced in SDR’s and currencies, at least initially, will peg to the currencies of the larger trading partners.
This means that some currencies will continue to be pegged to the US dollar while other currencies will peg elsewhere.
The recent announcement of the direct convertibility between the renminbi and the Singapore dollar is very telling of what process is unfolding.  From the article on The BRICS Post website we have the following quotes:
“Previously, the exchange rate between the two currencies was calculated based on the yuan-US dollar central parity rate and the Singapore dollar-US dollar rate.”
And:
“The direct yuan-Singapore dollar trade is good for forming a direct exchange rate between the two currencies and reducing exchange costs,” the PBOC said in a statement on its website.”
This clearly distinguishes both the desire and plan to implement new exchange rate regimes which exist outside of the US dollar system.  We have long stated in many posts here ourselves that the Vietnamese dong will likely depeg from the US dollar and peg to the Chinese renminbi,
In the post The Dongs Revaluation Is Imminent we reviewed how the Vietnamese Working Group MAG has recommended changes to the dongs exchange rate structure to protect the currency from “shocks in the foreign exchange markets”, a clear reference to the unraveling of the US dollar.
From that post we quote the following:
“MAG’s experts commented that it is unreasonable for Vietnam to follow a dollar-pegged foreign exchange policy, while its trade and foreign debts depend on other foreign currencies.”
And:
“Therefore, Vietnam has been recommended to apply a new foreign exchange policy which allows it to valuate the Vietnam dong in correlation with more than one foreign currency. This will be a reasonable choice which helps both stabilize the exchange rates and ensure the flexibility of the nation’s policies.”
Early in the year Vietnam had banned all FX trading from its shores.  This would include trading in the US dollar.  In response China opened the Pan-Asian FX Trading Center on its border with Vietnam.  The timing of both events are not a coincidence and were likely planned to facilitate a regional move away from the US dollar.
The Pan-Asian FX Trading Center allows for the direct trading of the Chinese renminbi and the Vietnamese dong.  This test market was started in April and continues today.  The US dollar is not used as the intermediary.  More on this can be read here.
This direct convertibility between the renminbi and dong was implemented before the announcement yesterday of the convertibility between the renminbi and Singapore dollar.  It was not widely known or announced by the western media outlets for the simple reason that it is a test market and secondly, there is a larger process unfolding here, a process which is not to be openly announced to the western masses.
Asian news sources are more open about the process but the information is not always translatable. In the article titled “ASEAN currency foreign exchange transactions will be automatically processed in the ABC”, we learn the following:
“Agricultural Bank of China Guangxi Branch of the 27th presentation of the ASEAN currencies listed RMB exchange rate is missing for a long time, is not conducive to economic and trade exchanges between China and ASEAN, the Agricultural Bank of China in the future will actively explore inter-regional banks VND traded business to offer the role of market makers to participate in inter-bank transactions ASEAN currency, and the existing foreign exchange trading system upgrade, to achieve the ASEAN foreign exchange currency trading system automatically processes.”
As stated above, the language barrier does not always make for clear translations, but we can discern what the article is stating.  The Agricultural Bank of China will be building platforms of inter-regional bank trading between the renminbi and the dong.  It also stated that there will be “upgrades” to the foreign exchange trading system of the ASEAN currencies.
Continuing from the article:
“...the first banking center in Guangxi and Yunnan provinces zone established in the border line, China (Dongxing test area) ASEAN currency business center, the first time a direct quotation of RMB against VND deal, which is for the yuan against the Vietnamese Dong pricing, and promote the process of internationalization of RMB has played a major significance.”
This quote is referencing the direct trading between the renminbi and dong discussed in the Pan-Asian FX Trading article. It is clear that a new exchange rate regime, or pricing structure, is being tested, just as the MAG Working Group had recommended.
From the same article we also learn that a broader regional direct convertibility process is also being set up for the following currencies:
Malaysian ringgit, Philippine peso, Thai baht, Lao kip, Myanmar kyat, and Cambodian riel.
This direct convertibility will be allowed by the Association of Southeast Asian Nations, or ASEAN, and it’s Currency Business Center.
Near the end of the article it also states that last year Syria did foreign exchange transactions, including forwards, swaps, and options, with the renminbi amounting to 1.8 billion RMB.
So much of what is happening is kept out of the western media and even alternative media sources do not pick up on the complexity and systemic transition which is building just underneath  the surface of the old. We signs of the process on the surface of our news sources, but cannot construct the full puzzle because so many of the pieces are missing.
At some point the full transition will become apparent and the new exchange rate regime will be unfolded.  How that will look and what the exchange rates will be cannot be determined at this time.  What can be stated with certainty is that a change is coming to the FX markets.  And likely soon.  – JC

SHOOT THAT F%#KER

jmho

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