We assume it is a coincidence that on the day in which we demonstrate China's relentless appetite for gold, driven by what we and many others believe is the country's desire to have a call option on a gold-backed reserve currency when the time comes, just posted in China's official press agency, Xinhua, is an op-ed by writer Liu Chang in which he decries the "US fiscal failure which warrants a de-Americanized world" and flatly states that the world should consider a new reserve currency "that is to be created to replace the dominant U.S. dollar, so that the international community could permanently stay away from the spillover of the intensifying domestic political turmoil in the United States." Of course, if China were serious, and if the world were to voluntarily engage in such a (r)evolutionary reserve currency transition, then all Magic Money Tree theories that the only thing better than near infinite debt is beyond infinite debt, would promptly be relegated to the historic dust heap of idiotic theories where they belong.
Some of China's (which as a reminder is the single largest offshore holder of US Treasury paper, and the second largest of all only second naturally to the Federal Reserve whose $85 billion in monthly monetizing "flow" is what is keeping rates from exploding higher) thoughts as captured in the Xinhua Op-ed:
- Reform of the world’s financial system should include the introduction of a new internatonal reserve currency to replace the U.S. dollar
- The international community could thus permanently stay away from the spillover of intensifying domestic political turmoil in the U.S.
- Fiscal impasse in the U.S. is a good time for “befuddled world” to start considering building a “de-Americanized world”
- Impasse has left many nations’ dollar assets in jeopardy and the international community agonized
- Other cornerstones should be laid to underpin a de-Americanized world, including respect for sovereignty, recognizing authority of UN in handling global hotspot issues and giving developing and emerging market economies more say in major international financial institutions
- Purpose of such changes is not to “completely toss the United States aside,” rather to encourage Washington to play a much more constructive role in addressing global affairs
Of course, if and when the day comes that the USD is no longer the reserve currency, kiss America's superpower, or any power, status, which is now based purely on the USD's reserve currency status, and the ability to fund half the US budget deficit with debt promptly monetized by the Fed, goodbye.
Finally, as a reminder...
U.S. fiscal failure warrants a de-Americanized world
As U.S. politicians of both political parties are still shuffling back and forth between the White House and the Capitol Hill without striking a viable deal to bring normality to the body politic they brag about, it is perhaps a good time for the befuddled world to start considering building a de-Americanized world.
Emerging from the bloodshed of the Second World War as the world's most powerful nation, the United States has since then been trying to build a global empire by imposing a postwar world order, fueling recovery in Europe, and encouraging regime-change in nations that it deems hardly Washington-friendly.
With its seemingly unrivaled economic and military might, the United States has declared that it has vital national interests to protect in nearly every corner of the globe, and been habituated to meddling in the business of other countries and regions far away from its shores.
Meanwhile, the U.S. government has gone to all lengths to appear before the world as the one that claims the moral high ground, yet covertly doing things that are as audacious as torturing prisoners of war, slaying civilians in drone attacks, and spying on world leaders.
Under what is known as the Pax-Americana, we fail to see a world where the United States is helping to defuse violence and conflicts, reduce poor and displaced population, and bring about real, lasting peace.
Moreover, instead of honoring its duties as a responsible leading power, a self-serving Washington has abused its superpower status and introduced even more chaos into the world by shifting financial risks overseas, instigating regional tensions amid territorial disputes, and fighting unwarranted wars under the cover of outright lies.
As a result, the world is still crawling its way out of an economic disaster thanks to the voracious Wall Street elites, while bombings and killings have become virtually daily routines in Iraq years after Washington claimed it has liberated its people from tyrannical rule.
Most recently, the cyclical stagnation in Washington for a viable bipartisan solution over a federal budget and an approval for raising debt ceiling has again left many nations' tremendous dollar assets in jeopardy and the international community highly agonized.
Such alarming days when the destinies of others are in the hands of a hypocritical nation have to be terminated, and a new world order should be put in place, according to which all nations, big or small, poor or rich, can have their key interests respected and protected on an equal footing.
To that end, several corner stones should be laid to underpin a de-Americanized world.
For starters, all nations need to hew to the basic principles of the international law, including respect for sovereignty, and keeping hands off domestic affairs of others.
Furthermore, the authority of the United Nations in handling global hotspot issues has to be recognized. That means no one has the right to wage any form of military action against others without a UN mandate.
Apart from that, the world's financial system also has to embrace some substantial reforms.
The developing and emerging market economies need to have more say in major international financial institutions including the World Bank and the International Monetary Fund, so that they could better reflect the transformations of the global economic and political landscape.
What may also be included as a key part of an effective reform is the introduction of a new international reserve currency that is to be created to replace the dominant U.S. dollar, so that the international community could permanently stay away from the spillover of the intensifying domestic political turmoil in the United States.
Of course, the purpose of promoting these changes is not to completely toss the United States aside, which is also impossible. Rather, it is to encourage Washington to play a much more constructive role in addressing global affairs.
And among all options, it is suggested that the beltway politicians first begin with ending the pernicious impasse.
I will not be afraid of Love today,
for I know it surely has come to stay.
I was always afraid of of Love before,
not knowing who it was knocking at my door.
I was afraid of Love today,not knowing why,
I must have mistaken it for Fear I cry.
I didn't know what it wanted from me,
I thought I could never be a wannabe.
I had cried many a night so alone and sad,
wandering where Love was & what it had.
Why did I rebuke Love and make it go,
was I afraid of it,of what Love dared to show.
Did I mistakenly replace it for Fear,
keeping Love away from coming near.
My father remembers me as the son he Loves,
I will awaken now, as below,so above.
My fathers fame is Love, this I know to be true,
which means I am created in his Love too.
It is said,Love always Creates like unto itself,
never deviating,bestowing great spiritual wealth.
So the Creator & Love are the same as one,
and that makes us a Divine spark, his son.
Not lost or forgotten, as some would believe,
sleep-walking in a dream, we could not perceive.
Believing to be asleep in the Matrix of a dream,
but awakened by the Joy of Love, it may seem.
For Love is all around us if we open our eyes,
and do not listen to the voice of Fear or its Lies.
Our Love was never lost nor thrown away,
but hidden in a dark space for a rainy day.
Love will shine bright like a sparkling diamond,
if we put our Fear away,remembering we are his son.
Forgiveness is the key to erase Fear forever,
as the light of Love emerges , be afraid never.
Embrace it as the Father embraces the son,
remembering what really matters, we are all one.
So,did I forget who I was and where I came from,
the light of Love shines bright, total of the sum.
Where did my light go, when I refused to let him in,
knowing He waits patiently , for I really had no sin.
It was all a Matrix, mind control of the Dark Cabal,
they did fed off our Fear, confusing us one and all.
The tricksters tried to make us think,Love was Fear,
Keeping us away from the Joy that we wanted so Dear.
And so I laugh now at the programing they had given to us,
did they really think we would not awake and miss the bus.
Ascension is upon us as the light of Love shines bright,
to erase the darkness of Fear all through the long night.
My true identity awakened, abides in you, my Father,
my Holiness remains the light of Heaven forever after.
As the Love of God makes it shine in the infinite heaven,
we are one,shared identity of the light of God, we are forgiven.
I am he that my Father Loves,for his Love is our only source,
and so we offer Blessings to all things and ourselves of course.
His Love is never more to be forgot or swept away under the rug,
Love is in our hearts of hearts so please give everyone a big hug !.
Rev. Joshua Skirvin...10/15/2013; copyrighted for the book ,
Poems, Prayers and Promises for the Golden Age.
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