China and four other leading high-growth economies have taken landmark steps toward lowering the importance of the dollar in international financial transactions — part of a seminal shift in the move towards a multi-currency reserve and trading system.
Mind you, you wouldn’t get an idea of anything dramatic from reading the official Chinese press on the conclusion of a summit meeting of the so-called BRICS economies (Brazil, Russia, India, China and South Africa) in the southern resort twin of Sanya in southern China last week.
“Leaders call for peace and prosperity” was the front-page headline in the China Daily. Stirring stiff. Even more striking was the prominent story the previous day that China’s President Hu Jintao and visiting Brazilian President Dilma Rousseff had agreed to quicken trade procedures for “gelatin, corn, tobacco leaf, bovine embryos and semen.” At least we know there’s no holding back the Chinese rhetorical flourishes on these issues.
Leave aside the whimsical acronyms. Addition of South Africa to the former BRICS format seems to have galvanized the grouping. The five countries agreed to expand use of their own currencies in trade with each other — an important step toward putting the dollar into a new downsized place. One key influence is the annual expansion of China’s trade volume with other core countries by 40% in 2010 — and the buoyancy looks set to continue. The BRICS’ state development banks, including the China Development Bank, agreed to use their own currencies instead of the dollar in issuing credit or grants to each other — and they will also phase out the dollar in overall settlements and lending among each other.
Chinese officials at the annual Boao Forum at the end of last week voiced cautious optimism about the possibilities for far-reaching international monetary reform proposals taking a step forward when the G-20 meet in Cannes in November at the behest of French President Nicolas Sarkozy. Chief among these is for enhancing the special drawing right of the International Monetary Fund through the inclusion of emerging market currencies.
Speaking in Boao, Zhou Xiaochuan, governor of the People’s Bank of China, refused to get carried away by any of this. He gave a cautious welcome to bringing the renminbi in to the SDR but admitted it had to be part of a planned move to full convertibility of the Chinese currency as well a shift to a flexible exchange rate.
Fresh signs of a disturbing lack of equilibrium in the Chinese economy, above all the latest annual rise in the consumer price index in March to 5.4% — have heightened speculation that China will speed up a rise in the renminbi to lower import prices. Governor Zhou, while not yet wishing to confirm any details, delivered a strong hint that he was prepared for such a course.
If the renminbi were to become a fully fledged reserve currency, of course, it would have to go down as well as up — marking enormous risks along the journey for the renminbi to assume a greater international role. For all of these reasons, Beijing will proceed with utmost caution in relaxing its restrictions for the currency to circulate freely overseas.
The last few days, make no mistake about it, mark an important step along this path — but there is a long way to go still.
Where is all this religion coming from??????
This is about economies and finance people.
Many countries are moving away from the US as a base currency due to it’s instabilities. More countries are turning to and strengthening their own currencies like the Ruble and Wong. Oil is still sold in dollars and everyone country still needs to stock up on dollars to do business with the world’s biggest economy .. the US.
Can’t believe the comments above .. wackos!
Of course there must be a new world order.
As a progressive people we cannot go into the year 3000
– cutting off people including hungry children’s hads for stealing;
– blowing up innocent people whom we do not even know because somebody else somewhere said something we did not like;
– stoning women who behave in ways we do not like, stifling their development and treating them like chattels and generally doing to them things we would not like done to ourselves;
– misinterpreting the language of our Holy Books.
– Nor can we continue believing in “Annancy Stories”.
According to I think it was Khalil Gribran, the world needed a kinder God, not a more warlike one. The worship of God should not mean the destruction of his creation. We have to learn tolerance of other people’s point of view because it is with the clash of ideas the much truth is discerned.
In the new world order cruelty to animals (they are also a part of creation, and there is only one Creator) would not be tolerated, and they have a lot to teach us when we are ready to learn. The Vegetable and mineral kingdoms also should be handled with respect and concern. The very atmosphere around us is our habitat; we destroy it and we destroy ourselves.
As we embrace the new world order we will become aware that creation came from one source, and any person who says they are destroying any part of it in praise of the Creator, is sadly and sickeningly mistaken.
Make your calling an election sure. And seek the Lord while he may be found
Isa 55:6-7
call on him while he is near.
7 Let the wicked forsake his way
NIV
I’m lost … “where is this coming from …?”
this just tell us we are truly in the last days.
Let’s think logically for a while. If the New World Order which is evident is at work then who are their prime target?
1. Which way of life teaches ABSOLUTE MONOTHEISM meaning going directly to the Most High without any intermediaries? Ans = Islam, it is forbidden to go to Allah/God through an intermediary.
2. Which system integrates Theology and Politics together? = Islam, thus allowing Allah to be the supreme ruler of the land.
3. Who are the people the Freemasons/Illuminati order are attacking mostly via propaganda, war, economic sanctions, ideologically, culturally etc? = Islam >> it is the most viciously attack way of life on the earth. The New World Order’s aim is to wipe out Islam because that is the only system standing in their way for full global domination.
4. What system uphold the true morals of the prophets as known from time memorial? = Islam >> we forbid alcohol, fornication, adultery, usury, pornography, stealing, murder, homosexuality etc. If you look at it well, Islam is the only system that is uncompromising regarding upholding the principles of God.
We can go on and on… the only system that is really fighting against the Anti-Christ system is Islam. Yes I agree there are other people but Islam is at the forefront and seriously clashes with Imperialistic Western Babylonic civilization.
May Allah guide our Dominican people, they have been fed lies from the media. Islam is the truth, we believe in one God, we believe in Jesus Christ and await his second coming. Come to Islam O people of Dominica.
What does the crescent moon simbolise in Islam? and where in you book can I read about it
Symbolise
“Uncompromising” is the only true word you have spoken in your long diatribe.
To Muslim_Always
I do not think you really understand the dynamics and operation of The New world Order suggesting
that Islam is their prime target based on the four points which you have suggested. You know one of the easiest ways to bring people to war, to hate and to kill is through religion and that is the simple fact why religion was created, this thing called religion has served the Masters of the world very good. it is one of the best ways ever devise to divide the human race. How naive are you, stop being a pawn in someones game. You asked the question who are the people of Freemasons/Illuminati, well you do not have to go far just look within your own religion, look at the leaders of Saudi Arabia and there is your answer. Look at the Shrines you tell me, it is right in your face. Most of the leaders of Islam Countries are high initiates in Freemasonry including the late Mubarak, just look at the symbols in their Parliament, the flags and insignia. This i will tel you, the best place to hide something is in the open.
You have made statements which are so absurd simply based on dogma which is typical of any follower of a religion and so there is nothing different in what is expected from you. Finally the Masters of this world does not see Islam as it’s only enemy as you would want to think but rather they see Islam as a pawn to be used in carrying out their agenda,wake up, in this game someone or something has to be created to be the enemy and that Is the role of Islam.
HAS TO COME TO PASS, REVELATION 6 SEAL IS OPEN
The free mason mission
new world order in the works…………………………….