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Thursday, March 29, 2012

BRICS driving more nails into coffin of US dollar as world's Reserve Currency

The Day The Dollar Died - 2012 US Financial meltdown?

Blogman's Notes:

The scenario presented in the above video is fictional but based on fact; something along the lines shown in the video will develop in the near future, possibly in 2012. More and more evidence emerges that the reign of the US dollar as the world's Reserve Currency is rapidly coming to an end. If it wasn't for the Federal Reserve, the ECB and pretty much the Central Banks of all major countries in the world printing up enough money to fill the Solar System, maybe even the Milky Way, the System would have crashed so hard that it would have taken the world back to the Stone Age. The Central bankers are congratulating themselves that they have saved the System but before we pop the champagne and bring out the caviar, let us remind ourselves that these are the same people that told us constantly that there was no problem to begin with. Time magazine even credited Alan Greenspan with having saved the Economy but shortly after he left, we saw the biggest implosion of the Economy since the Great Depression. So congratulations that the Economy has been saved and we are in recovery are premature; the collapse is coming, there is no way to avoid it. All that has happened is that the collapse has been delayed not prevented. The much hyped solution of continued printing of money to infinity is total insanity! The implications of this may not be readily apparent to the masses but they are apparent to the Financial authorities of developing countries who do not benefit from the policies of the Western banksters like Ben Bernanke; on the contrary the policies enacted in New York, Washington, London and Brussels negatively impact these exporting nations; these policies bring high inflation to these nations and they are not too happy about it. So the BRICS nations (Brazil, Russia, India, China and South Africa) met in New Delhi this week and have agreed to further cut their ties with the US dollar. This is a another nail in the coffin of the US dollar, and it is a big one. I believe we will see the demise of the US dollar as the world's Reserve Currency gather pace and events will develop faster and faster that will cause its ultimate demise in the not too distant future. The following report from Reuters confirms that the BRICS, the most important group of nations, outside of the EU and the US, from an Economic perspective, will dump the dollar in trade amongst themselves. And as Iran, the third largest producer of oil in the world is cut off from the Global banking system, hundreds of billions more dollars will no long pass through the System that keeps the US dollar afloat. These developments are not insignificant even though the American and Western media will continue to lie and tell their citizens that a recovery is on going when in fact a full blown collapse is being signaled by the rest of the world through their actions not just their words. Sanctions on Iran are an act of Economic suicide for both the EU and the US, so why would they engage in such acts of madness? Could the answer lie in the fact that the Megalomaniacs that run the world, the royalty and corporate / military elites of this world want to destroy the present world to raise another one from its ashes according to their own diabolical plans? It is of little concern to them that the destruction of the present Global Economic System will certainly lead to Global warfare, and to famine and even disease outbreaks that always follow times of war such as the Spanish flu pandemic of 1918 that followed World War 1. It is of little concern to them that in a world where supplies of energy and food are already constrained, these actions will lead to the deaths of billions, but perhaps that is what they desire to see - a world rid of most of those that the elite classify as 'Useless Eaters'! With earthquakes and other natural disasters at an all time high are we approaching the days of the fulfillment of the End of the world prophecies? The odds are very high indeed that we are approaching those days and in my estimation, the collapse of the dollar is the trigger that will launch wars and famines and pestilences even as the world is being devastated by mega earthquakes and other catastrophes. There are yet 9 months to go in 2012 and the world may indeed see the beginning of its end before we see the end of the year! The time of 'SORROWS' is at hand; do not be fooled into believing that the Economy has entered into a recovery, that everything will be well with the  world just because some lying banker or politician stands up and tell us that it will be so.

Matthew 24:3-8
3And as he sat upon the mount of Olives, the disciples came unto him privately, saying, Tell us, when shall these things be? and what shall be the sign of thy coming, and of the end of the world?
 4And Jesus answered and said unto them, Take heed that no man deceive you.
 5For many shall come in my name, saying, I am Christ; and shall deceive many.
 6And ye shall hear of wars and rumours of wars: see that ye be not troubled: for all these things must come to pass, but the end is not yet.
 7For nation shall rise against nation, and kingdom against kingdom: and there shall be famines, and pestilences, and earthquakes, in divers places.
 8All these are the beginning of sorrows.

(Reuters) - Leaders of the BRICS group of emerging market nations pressed Western powers to cede more voting rights at the IMF this year and flayed the rich world's reflationary monetary policies for putting global economic stability in jeopardy.

"This dynamic process of reform is necessary to ensure the legitimacy and effectiveness of the Fund," Brazil, Russia, India, China and South Africa said in a joint declaration after their one-day summit in New Delhi.

The five BRICS nations, which collectively account for nearly half the world's population and a fifth of its economic output, signed an agreement to extend credit facilities in their local currencies, a step aimed at reducing the role of the dollar in trade between them.

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