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Dethroning The U.S. Dollar: China Takes Giant Step Forward
Dear Capital Hill Subscriber,
China has had its eye on dethroning the U.S. Dollar for decades as the global currency.
Now China has launched a gold-backed digital or cryptocurrency that will devalue the U.S. dollar to "zero," this, according to Max Keiser, host of the financial show the Keiser Report.
China began in 2014, working on its digital currency. In April, the People's Bank of China (PBOC) confirmed that a group of top banks started trials in electronic payments in four different Chinese regions using the new digital yuan.
Because things are working out, Reuters reported that China would be using its digital currency before the Beijing Winter Olympics in 2022.
And get this, Since testing begun:China's digital currency has been used in 3.13 Million transactions worth 1.1 billion Yuan so far113,300 personal digital wallets and 8,800 corporate digital wallets created by their central bankAnd every transaction is monitored
If you are in U.S. dollars, you have to ACT NOW.
Make no mistake about it, "China's Digital Currency Electronic Payment (DCEP) should be interpreted as the road map for China, leading to an eventual replacement of the U.S. dollar as the world's reserve currency," says Pepe Escobar from consortium news.
What would this mean if the U.S. dollar were dethroned as the global currency?
China's gold-backed petroyuan may be good news or bad news.
If your savings are heavily in dollars and paper assets like the stock market, consider this a huge warning. When the dollar loses value, so do all paper assets. As the petrodollar system crumbles, so may the value of the USD.
On the flip side, there is one asset that stands to gain abundantly: physical gold.
For the first time since our nation abandoned the gold standard, physical gold is being reintroduced to the global monetary system.
These 8 countries have dropped using the U.S Dollar to purchse oil for the new Gold-Backed Chinese cryptocurrency:RussiaSaudi ArabiaAngolaIraqIranBrazilVenezuelaand the United Arab Emirates
This is not good for the United States or the dollar as a global reserve currency.
How can you benefit from this currency war?
It's simple. If you don't own gold, now is the time. There is an IRS loophole that lets you invest your retirement savings in gold tax and penalty-free.
The more gold that China acquires for its currency base, the more gold prices go up.
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This guide will show you how to protect your retirement savings and how to profit from the current currency war with China.
In this Complimentary Guide, you'll learn:Why Central Banks around the globe are hoarding Gold.Why Gold is up over 40% in the last eighteen months. Why Goldman-Sachs forecasts Gold will rise to $2,000 by December.Why BofA is predicting Gold will almost double to $3,000 in the next 12 months.Why Chancery Asset Mgmt. predicts Gold to hit $3,000 to $5,000 In Next 3 YearsWhy Gold guru Jim Rickards says, Gold will hit $11,000 by 2025.Why Gold is the world's most powerful anti-inflation fighting investment.You will also learn about the one special account that all wealthy people have and why you should have one.
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