China Could Deal Death Blow to Dollar

By now, most of my regular readers know that the US Dollar is based ONLY on faith and confidence.  This is called FIAT currency.

We also know that history is not kind to fiat currency and that ultimately the faith and confidence will collapse and cause great problems, not only for the country but also for those folks who hold their wealth in that currency.

The US Dollar has been the world's Reserve Currency since we won WWII.  The rest of the world really didn't have a choice at the time....and now many nations don't like that idea any longer.

If another currency replaces the US Dollar, say China, it could spell real problems for USA.

If you leave your sliding glass door open, you might let in a stray cat, raccoon, or bugs without knowing it.

Some intruders are worse than others. All can be annoying. But let in a thief, who robs your home… and it only takes that one time to change your life forever.

The U.S. has essentially left their “sliding glass door” open, and on March 26 China is set to become the intruder that may very well deal a death blow to the dollar.

China Prepares Death Blow to the Dollar

On March 26 China will finally launch a yuan-dominated oil futures contract. Over the last decade there have been a number of “false-starts,” but this time the contract has gotten approval from China’s State Council.

With that approval, the “petroyuan” will become real and China will set out to challenge the “petrodollar” for dominance. Adam Levinson, managing partner and chief investment officer at hedge fund manager Graticule Asset Management Asia (GAMA), already warned last year that China launching a yuan-denominated oil futures contract will shock those investors who have not been paying attention.

This could be a death blow for an already weakening U.S. dollar, and the rise of the yuan as the dominant world currency.

But this isn’t just some slow, news day “fad” that will fizzle in a few days.

The petrodollar is backed by Treasuries, so it can help fuel U.S. deficit spending. Take that away, and the U.S. is in trouble.

It looks like that time has come…

A death blow that began in 2015 hit again in 2017 when China became the world’s largest consumer of imported crude…

Once the oil markets are upended, the yuan has an opportunity to become the dominant world currency overall. This will further weaken the dollar.

http://www.shtfplan.com/headline-news/china-is-one-signature-away-from-dealing-the-dollar-a-death-blow_03212018

The Bible says we should lay up our treasure in heaven where moth and rust will not destroy it.

How many of us have spent our lives accumulating wealth in US Dollars and have made the assumption that the world will ALWAYS want them because they will ALWAYS be worth something?

We can hope the rapture of the church is the ultimate trigger that brings the US financial system to its knees....but we can't know that for sure.

This article would suggest that our financial system could start coming apart any day now.

I hope they are wrong...but...Thy will be done, on earth as it is in heaven.