Source: Dr. Steve Sjuggerud/Bloomberg/Raise Flag Report/Sovereign Man
This bizarre new billboard is seen outside Bangkok international airport . . . promoting a “New World Currency”.
China is so confident of IMF’s decision it could destroy the U.S. dollar starting October 20th 2015.
China is literally advertising its currency overseas, and it’s making sure that everyone landing at one of the world’s busiest airports sees it. They know that the future belongs to them and they’re flaunting it.
Most people have no idea what this billboard really means. And despite the fact that it’s received almost no attention from the mainstream press, this is a huge new development in the currency markets, and it’s definitely going to affect you, your money, and your retirement.
For the past 20 years, Chief Strategist, Stansberry Research Dr Steve Sjuggerud who received his MBA & Ph.D. in currency in France, covered extraordinary currency situations like the collapse of the Russian ruble in ’98 (and again just recently), the havoc wreaked by the 2013 Argentinian currency crisis, and the collapse of the Japanese yen over the last 3 years.
He believes the currency story behind this billboard will be one of the defining events of his career. It could trigger one of the most profound transfers of wealth in our lifetime.
The billboard was from the Bank of China. It said: “RMB: New Choice; The World Currency”
Given that the Bank of China is more than 70% owned by the government of the People’s Republic of China, this is very significant.
It means that China is literally advertising its currency overseas, and it’s making sure that everyone landing at one of the world’s busiest airports sees it. They know that the future belongs to them and they’re flaunting it.
And it’s true. The renminbi’s importance in global trade and as a reserve currency is increasing exponentially, with renminbi trading hubs popping up all over the world, from Singapore to London to Geneva to Frankfurt to Toronto.
Multinational companies such as McDonald’s are now issuing bonds in renminbi, and even sovereign governments are issuing debt denominated in renminbi, including the UK.
Almost every major global player out there, be it governments or major multinationals, is positioning itself for the renminbi to become the dominant reserve currency.
A lot of people, including the richest man in Asia, are starting to move their money out of the country.
So while the long-term trend is pretty clear – China becoming the dominant economic and financial superpower – the short-term may look incredibly rocky.
Just think about this for a couple of minutes. What if the U.S. Dollar wasn’t the world’s reserve currency? Ponder that … what if …
Empires Rise, they peak, they decline, they collapse, this is the cycle of history.
This historical pattern has formed and is already underway in many parts of the world, including the United States.
Don’t be one of the millions of people who gets their savings, retirement, and investments wiped out.
It’s no secret China wants to make dramatic changes to the international currency system.
Since 2009 they have made currency agreements with more than 20 countries and various regions including Switzerland, Brazil, South Korea, the United Kingdom, the Eurozone, and Russia. All of these deals simplified trading by allowing these nations to makes exchanges in local currencies instead of U.S. Dollars.
And this trend is accelerating…
China has now worked with more than 10,000 financial institutions (up 1,011% from June 2011) to do business in Chinese Yuan.
READ MORE: Here is China’s Plan to Destroy U.S. Dollar
Stuart Oakley, a Managing Director at Nomura Group recently told CNBC, “Let’s not kid ourselves, [China’s rise to power] is well underway and further down the path than many think.”
And now, an American PhD currency expert named Steve Sjuggerud says we have a very good idea how the Chinese will secure their spot as the true “alternative” to the U.S. Dollar – and it’s all very likely to start Octobers 20th of this year.
On this date, China, with the help of one of the world’s leading international banking agencies, is looking to make an epic move in the world’s currency markets, which will send shock-waves throughout China, America, and the rest of the world.
Dr. Sjuggerud says:
“The truth is, you’re unlikely to see a currency event of this magnitude again in your lifetime. I believe this announcement will trigger one of the most profound transfers of wealth we’ve ever seen… You simply must be prepared, and understand what’s about to happen.”
The SDR (Special Drawing Rights – in IMF) review will be conducted in November instead of October and 70 percent of votes are likely required to approve the yuan’s inclusion, an IMF official said Thursday in Washington.
“The renminbi has the basic qualification to be a freely used currency,” said Liu Li-gang, Australia & New Zealand Banking Group Ltd. chief China economist in Hong Kong. “The West could gain more from the renminbi’s inclusion into the SDR as this policy action will help accelerate China’s capital-account liberalization and domestic financial reform.”
Global yuan adoption is on the rise as China gradually opens up its domestic capital market to foreign investors and expands a network of lenders that clears trades in the unit. The yuan, officially called renminbi, overtook the euro in 2013 as the world’s second-most used in trade finance and was the fifth most-popular for global payments in May, according to the Society for Worldwide Interbank Financial Telecommunications.
“We expect that the IMF will finally accept renminbi as the renminbi has been widely used as a settlement currency for both trade and foreign direct investment,” said Le Xia, a Hong Kong-based economist at Banco Bilbao Vizcaya Argentaria SA.
RMB is your FUTURE!