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The Birth of the ‘De-Americanized’ World. Beijing Calls for Creation of New “Reserve Currency” to Replace the U.S. Dollar

By Pepe Escobar

This is it. China has had enough. The (diplomatic) gloves are off. It’s time to build a “de-Americanized” world. It’s time for a “new international reserve currency” to replace the US dollar.

It’s all here, in a Xinhua editorial, straight from the dragon’s mouth. And the year is only 2013. Fasten your seat belts – and that applies especially to the Washington elites. It’s gonna be a bumpy ride.

Long gone are the Deng Xiaoping days of “keeping a low profile”. The Xinhua editorial summarizes the straw that broke the dragon’s back – the current US shutdown. After the Wall Street-provoked financial crisis, after the war on Iraq, a “befuddled world”, and not only China, wants change.

This paragraph couldn’t be more graphic:

„ Instead of honoring its duties as a responsible leading power, a self-serving Washington has abused its superpower status and introduced even more chaos into the world by shifting financial risks overseas, instigating regional tensions amid territorial disputes, and fighting unwarranted wars under the cover of outright lies.

The solution, for Beijing, is to “de-Americanize” the current geopolitical equation – starting with more say in the International Monetary Fund and World Bank for emerging economies and the developing world, leading to a “new international reserve currency that is to be created to replace the dominant US dollar”.

Continue:
http://www.globalresearch.ca/the-birth-of-the-de-americanize...



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Now that tirade I DID down vote.

It really wasn't necessary.

you are right

it wasn't necessary and it wasn't directed at you.

to discuss sound money on the DP is the equivalent of posting kitty pictures on FB...who could possibly be against that?

it came from a sense of incredulity and frustration

like I said in an other reply, I won't delete or edit it, I'll own up to it.

Right on then.

And yes, I understand the frustration.

One would think there would be as much agreement about sound money here as you suggest.

This must mean though that we are growing and the new kids haven't gotten up to speed yet.

Our work is never done.

chill

bro

chilled

;)

righteous

you were right

yeah but I don't feel good about it

and I'm not going to delete it.

I'm not sure why I blew up...maybe from a frustration of being misunderstood.

and I have nothing against samadamscw, I haven't seen anything bad from him before, my first reponse to him was more about legal tender laws. Sure everybody would flock to a gold backed dollar, but not me if I felt I was being railroaded to it by law.

I would be highly suspicious of another theft en masse, either by revaluation or reduction of reserves. So if a true "dollar" showed up tomorrow, I wouldn't be first or second in line to trade any gold. I would wait...what would be the rush anyway if the convertibility window was reopened? It would be more prudent,I would think, to give it some "soak time" and see how it plays out.

Perhaps you misunderstood me.

I'm not advocating ANYTHING made not of gold or silver. (or other PM as applicable)

I'm NOT advocating paper "backed" by PM's.

That is how we got here in the first place.

"Dollars" are NOT paper.

They are silver.

A Dollar is not an arbitrary, disconnected unit.

It IS a standard of weight and measure of a particular substance, in this case, silver.

I do not advocate currencies.

I advocate money.

You would not have to trade in your gold for paper with a promise, though if the weights and measures you hold are not convenient, you may eventually find utility in trading them for more convenient sizes of gold, or even exchanging them for silver. (though likely what you already have is just fine)

Agreed

The paper crap is NOT dollar.

Good points.

Truth is when one drinks some beer at the Niagara Falls library (as I was when commenting) one can be a little bit off the rails :)

LL on Twitter: http://twitter.com/LibertyPoet
sometimes LL can suck & sometimes LL rocks!
http://www.dailypaul.com/203008/south-carolina-battle-of-cow...
Love won! Deliverance from Tyranny is on the way! Col. 2:13-15

TwelveOhOne's picture

Saw a new term recently that intrigued: "cotton money"

I really love that, comparing "metal money" to "cotton money".

It makes the case with two words, and might filter into some brains that were resistant to many more words.

I love you. I'm sorry. Please forgive me. Thank you.
http://fija.org - Fully Informed Jury Association
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Jealous - I wish I was having a beer right now.

They serve beer in the library up there?

hahaha

you have to drink by the comp in a way so its not obvious....

just like I drink right now in one of dozens of libraries in Toronto.

LL on Twitter: http://twitter.com/LibertyPoet
sometimes LL can suck & sometimes LL rocks!
http://www.dailypaul.com/203008/south-carolina-battle-of-cow...
Love won! Deliverance from Tyranny is on the way! Col. 2:13-15

well said

+1

PEOPLE OPPOSING TYRANNY - Real Grass Roots!
Are you a POT or a PET - Person Embracing Tyranny?

Be careful

...what you wish for.

REMEMBER....China has an official policy of continuing and expanding iits cultural marxist/leninist social philosophy.

donvino

This is exactly what the US

This is exactly what the US government needs to make them stop being the bullies of the world.

we will see

We will see...

Séamusín

Truth is

We are already seeing it with our own eyes.

Google Libya golden dinar.

LL on Twitter: http://twitter.com/LibertyPoet
sometimes LL can suck & sometimes LL rocks!
http://www.dailypaul.com/203008/south-carolina-battle-of-cow...
Love won! Deliverance from Tyranny is on the way! Col. 2:13-15

Thats why Gaddafi is dead.

The Gold Dinar.

beephree

Yeah that's why they whacked him...

Tripoli was like, a pretty decent place. They had nice restaurants and 2nd story gyms, and night clubs... a very modernized city.

Qaddafi would drive around the streets of Tripoli in a convertible high-fiving the citizens...

I highly doubt most of the people wanted him dead there. He was planning on backing his currency in Gold. What a thought, huh? He stored up a huge amount of gold.

Why do you think we went into Mali right after that... More gold, of course... Like the movie 3 Kings on a bigger scale.

Seeing how we "officially" did not have boots on the ground, I was actually rooting for Qaddafi. He was just kind of a likeable villain, wasn't he, lol?

My favorite line... "If the world wants to get crazy with me, I'll get crazy with the world."

Gotta admit the guy had chutzpah...

PEOPLE OPPOSING TYRANNY - Real Grass Roots!
Are you a POT or a PET - Person Embracing Tyranny?

same story in Syria

Great independent of the WEST country.
Modern ~ secular leader...

All goes to hell of war.

LL on Twitter: http://twitter.com/LibertyPoet
sometimes LL can suck & sometimes LL rocks!
http://www.dailypaul.com/203008/south-carolina-battle-of-cow...
Love won! Deliverance from Tyranny is on the way! Col. 2:13-15

Good.. Any currency

Good.. Any currency competition is great for all humans.

I also can't wait to see what other currencies come out from the bitcoin success. Internet shopping is "IT".

i agree. Too bad these morons

i agree. Too bad these morons have put us in such a poor spot to actually compete. Hopefully this will change.

good points

Thanks to you and others who posted comments here.

LL on Twitter: http://twitter.com/LibertyPoet
sometimes LL can suck & sometimes LL rocks!
http://www.dailypaul.com/203008/south-carolina-battle-of-cow...
Love won! Deliverance from Tyranny is on the way! Col. 2:13-15

Interesting...

.