China’s Plan for World Domination
China’s plan is simple, control the world’s gold supply, foster global alliances, and eliminate the dollar from the world’s oil trade. For years China has been stockpiling gold so it can create a gold-backed reserve currency (their Yuan or Renmenbi). They are purchasing resources on the open market and providing financial aid to resource-rich countries. By so doing they obtain access to resources they need, rid themselves of rapidly devaluing US dollars, and gain allies throughout the world. It is why they have been handing out billions through their Export-Import Bank.
Obviously, the Chinese have been securing resources and goodwill from countries for years. They use their dollar reserves to buy friends all around the world so they will have the global backing they need to take down America. It is clear that China plans to replace the petrodollar with their gold backed currency (the Yuan or Renminbi). China made it official when they promised that, as of Sept. 6, 2012, any country that wishes to trade crude oil can do so using barter or China’s currency instead of US dollars.
President Nixon worked a deal with Saudi Arabia and other OPEC nations to accept only American dollars for their oil. If these oil rich countries abandon America’s reserve currency (the Petrodollar), we are doomed. To use the petrodollar, countries have been forced to put their excess dollars into government bonds and Treasuries allowing the greatest run on US government bonds in history. This is why we were able to run up massive Federal deficits and consume more than we produced.
When countries stop using the petrodollar, look for a stock market collapse of epic proportions. Greece is a prime example of what happens when a country can no longer spend more than it produces. Its economy shrinks, unemployment rises and riots occur.
When the Bernanke bubble bursts, American stocks, bonds, and personal savings will be devastated. Interest rates, bankruptcies, and foreclosure will run rampant. People dependent on federal government support like the millions on food stamps, welfare, social security, and Medicare will be without their financial safety nets and hunger will run rampant. History is very clear on one point, when people are hungry; riots become the protest of choice. The recent Arab Spring saw Arab governments forced to shoot their own people to stay in power.
Saudi Arabia avoided riots only by infusing billions of dollars into programs to aid the poorer classes of their people. In America, prices on everything from food to gasoline will rise exponentially, forcing millions of middle class workers into poverty. The effects of inflation, caused by massive printing of US dollars, are evident in the rising food and fuel prices Americans are now experiencing.
China is waging an economic war which they fully expect to win. On the day the dollar falls investors around the world will lose faith in fiat currencies and turn to the only currency with gold backing, the Yuan or Renminbi. China will be triumphant. America will be devastated and its people will be reduced to much wailing and gnashing of teeth. There is a light at the end of the tunnel – but it is years away. We will survive as a nation but only after much suffering.