China Warns of Depreciation

Depreciation of what?? The U.S. dollar.

This is pretty interesting as we have been watching China for sometime. The Bible tells us that the borrower will be slave to the lender...and we owe China a ton of cash....so we would do well to understand what the master (China) is saying to the slave. (us)

(Reuters) - China on Friday offered a rare glimpse into its foreign exchange reserves, confirming that they are overwhelmingly allocated in dollars, while a central banker said the mountain of cash could face depreciation risks.

The Chinese government's currency reserves, the world's largest such stockpile at $2.45 trillion, are held roughly in line with what was described as the global average: 65 percent in dollars, 26 percent in euros, 5 percent in pounds and 3 percent in yen.

Now here is the line that stuck me in the eye;

"Once a reserve currency's value becomes unstable, there will be quite large depreciation risks for assets," she wrote in an article that appeared in the latest issue of China Finance, a Chinese-language magazine published under the central bank.

She reiterated China's long-standing discomfort with a global financial system dominated by a single currency in the dollar.

"The outbreak and spread of the global financial crisis has highlighted the inherent deficiencies and systemic risks in the current international currency system," she said.

Let me break down and paraphrase what the master is saying;

"We believe the U.S. dollar is soon going to become very unstable. When that happens and the faith in the U.S. government begins to falter, the dollars could lose a lot of value. (depreciate) We have been uncomfortable with the U.S. dollar being the reserve currency of the world for quite some time now and when the U.S. financial system almost collapsed in 2008, it confirmed our fears that the world really needs a new international currency system."

Did you catch that call for a new international currency system? Can you see the road being further paved for the Antichrist?

See it here; http://www.reuters.com/article/idUSTRE6820G520100903

As I sit in my office watching the wind blow....I can't help the gnawing feeling that has come over me in the past few weeks....a feeling that a really big rat trap has been set, the cheese has been put on the trigger and the trap has been placed directly in front of a confirmed rat-hole. All we can do now is wait to hear the SNAP!!

Make no mistake....the trap WILL snap. We just don't know when. It might be a day from now, a month from now or two years from now. I don't believe it will go much longer than a few years. There is simply too much pressure on the springs and the rat living in the hole is really hungry and really desperate for something tasty to eat....and that fresh cheese is sitting right in front of his nose.

"For in the days before the flood, people were eating and drinking, marrying and giving in marriage, up to the day Noah entered the ark; and they knew nothing about what would happen until the flood came and took them all away.".....says Jesus. (Matthew 24:38)

SNAP!!