CHINA TO EXPAND ITS GLOBAL ECONOMIC AND POLITICAL POWER BY TAKING OVER AS THE RESERVE CURRENCY AS THE US DOLLAR COLLAPSES CAUSING US MARKET TURMOIL
GOLD S PRICE UNDERGOES UNPRECEDENTED ZIG ZAGS
President Xi has called for the yuan to become the new global reserve currency amid an ongoing global dedollarization, US market tourmoil, and dollar collapse.
Sean Foo reports on how Scott Bessents plan to use crypto to back up the collapsingUS bond market and dollar is failing. This for the obvious reason that crypto is also a PR Ponzi scheme, an empty digital money shell devoid of all substantial value.
Check out his video
Bessent’s Treasury Lifeline Just FAILED While China & US Ally Are CANCELING USD In Trade
https://www.youtube.com/watch?v=EDyVhdrWu0c
In short, the US bond market and economy is set to suffer havoc, be wrecked by ever higher interest rates as borrowers to fund its gigantic and ever growing debt flee.
Gold and silver have also fallen as US markets become more chaotic and tumultuous.
https://www.telegraph.co.uk/business/2026/02/02/ftse-100-markets-gold-silver-bitcoin-kospi-oil-us-nasdaq-uk/
Bitcoin s price has crashed
Microsoft s share price lost 400 billion in a single day on Friday over fears it has squandered 100s of billions on an AI bubble with little sign it will generate significant revenue.
The cost benefit equation of AI is so skewered, it points to a rigged market.
On Thursday, the Redmont giant’s share price collapsed by nearly 12 percent after it released its latest quarterly results, making it not only its biggest single day slide since March 2020, according to Bloomberg, but also one of the worst drops in the company’s history.
The Wile E. Coyote-worthy cliff-plunge....wiped out over $400 billion in value
But Microsoft’s AI spending spree has investors second-guessing its direction,. Overall, its total capital expenditures grew by 66 percent to a record $37.5 billion in Q4, as the company continues to splurge on building AI data centers for its Azure cloud computing business.
https://futurism.com/future-society/microsoft-stock-ai
The drop in Microsoft s share price could be a sign the AI bubble is about to burst
Investors fleeing the dollar are looking for an alternative.
With its gigantic and growing economy, kow interest rates and low inflation, powered by a state central bnnk printing money as single entry book keeping without creating debt and interest like the US and Western central banks, Cihina can become a safe haven and it can become a defender of the rule of law.
By making some structural and policy changes, China s yuan can emerge quickly as a global reserve currency because people fleeing the dollar are looking for a safer haven.
If the US, UK and European elite do not get their act together very soon, China is going to buy up the US.
In fact, it looks like it may be too far late already.
From media
Summary:
President Xi Jinping, in an article published on Saturday in Qiushi, the Communist Party’s leading theoretical journal, has renewed calls for the yuan to evolve into a global reserve currency, underscoring Beijing’s long-term ambition to reduce reliance on the US dollar.
China is sharpening its long-standing ambition to elevate the renminbi to global reserve currency status, with President Xi Jinping calling for the development of a “strong currency” capable of broader international use. The renewed emphasis highlights Beijing’s strategic objective of reducing dependence on the US dollar while strengthening China’s financial influence globally.
China has made steady progress in expanding the yuan’s footprint in trade settlement, with close to one-third of its foreign trade now conducted in local currency. This shift reflects both policy encouragement and geopolitical realities, particularly as trade and financial frictions with the United States persist. While Xi did not directly reference the dollar, the broader direction of policy leaves little doubt that China aims to create credible alternatives to dollar-based financial infrastructure.
At the core of this push is a recognition that China’s financial system, while vast, still lacks depth and resilience compared with established reserve-currency issuers. Despite holding one of the world’s largest banking systems, foreign exchange reserves, and capital markets, policymakers acknowledge that scale alone does not equate to global trust or dominance. Building a genuine financial powerhouse, Chinese officials concede, will require years of institutional development.
Beijing has intensified efforts on several fronts. The Cross-Border Interbank Payment System has been expanded as a parallel settlement mechanism to SWIFT, particularly in transactions involving Russia. Energy trade between the two countries is increasingly settled in yuan, reinforcing bilateral momentum while insulating flows from sanctions risk. Beyond Russia, China has signed currency swap agreements with roughly 50 economies, providing liquidity backstops that facilitate local-currency trade and financial cooperation.
https://investinglive.com/news/china-pres-xi-revive-push-for-yuan-as-reserve-currency-amid-global-dollar-dominance-debate-20260201/
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