We present a comprehensive review of the Shanghai Cooperation Organization, including the members, the economics, the resources involved and the people. We show how this global organization is going to impact every person, business and country worldwide.
The US Dollar hegemony is dying. The Eastern countries are preparing for what is coming next. We hope you will heed the warning and begin doing your on research and plan accordingly. Everything is going to change and tomorrow will not look, nor operate, as it does today.
Alasdair Macleod from GoldMoney.com and FinanceandEconomics.org begins by introducing who is currently involved and how they relate to one another economically. Craig Hemke fromTFMetalsReport.com introduces us to the economics, currency swaps and the possibility of a gold-backed currency. Dave Kranzler from InvestmentResearchDynamics.com introduces us to some of the history and comprehensive look at the members list and explains how China may be “playing along” with the IMF regarding the SDR (Special Drawing Rights) fiat currency.
If you need to have a task completed you usually need people involved. The SCO will encompass approximately 3 billion people. That is not a typo, 3 billion people. This represents approximately half the global population. Twenty years ago most of these people were considered “poor” and from a “third world country.” Today, their wealth is growing and the countries in which they reside are becoming economic powerhouses. When the United States decided in the 1990s that we no longer wanted to be bothered with manufacturing, we shipped all those good-paying, prosperous jobs to these “third world countries” because they had lots of people willing to work for a lot less money.
China and Russia have both opened their form of the SWIFT system. The SWIFT system is a currency clearing system that allows countries to conduct business with one another. Prior to January 2015 all currencies, the world over, were forced to use the US SWIFT. The US abused this privilege in 2012 when Iran was shut out and could not conduct business on a global scale. Their currency immediately experienced a 40% devaluation and Iran went into hyperinflation. Russia stepped in and began trading gold for oil. China quickly followed suit. Iran and Russia have been global enemies ever since.
What currency will we use to conduct business? Will it be a gold-backed currency? Will the US Dollar be around forever? Will China, Russia and the other US creditor nations continue funding the US credit card? While some of these questions seem obvious, they are not as easily answered as you may think. The US Dollar is dying. The Renminbi is rising in prominence and being used in trade all over the world. There are Renminbi/Yuan currency hubs in Vancouver, Los Angeles and The City of London, just to name some of the larger cities where one can easily conduct business, including everyday transactions, in Chinese Renminbi/Yuan. Times are changing and changing very rapidly.
According to Voxeu.org the Renminbi (RMB) is rising quickly on the global stage:
According to the Triennial Central Bank Survey (2013) in 2007, just prior to the eruption of the US subprime crisis and two years before the emergence of the Greek sovereign debt crisis, forex deals with the US dollar on one side of the transaction represented 85.6% of total average daily foreign exchange market turnover, making it the most widely traded currency in the world.1 The comparable figure for the euro was 37%, putting it in a distant second place after the dollar. By contrast, the same metric indicates that with a meager share of 0.5%, the renminbi (RMB) was ranked in the 20th slot. In April 2013, the share of the USD had gone up to 87% that of the euro, down to 33.4%, and that of the RMB up to 2,2% of total average daily forex turnover.
Although the euro lost (and the dollar gained) some ground during the six years between 2007 and 2013, the USD and the euro maintained their first and second ranks, respectively. However, the RMB climbed from the 20th to the 9th slot. Although its share is still very modest, the rate of growth of transactions involving it is very large. If as some economists believe this trend persists, the RMB may match the Japanese yen and the British pound and achieve the status of a key currency within the next decade.What about war? History has shown time and again when there is a major monetary change there is war. The current regime does not want to relinquish power and wealth. We are hopeful this will change with the current situation. Russia, believe it or not, is actually the wild card. The East is only concerned with doing business. The Chinese are traveling the world over to insure the Yuan/Renminbi is on a steady pace to replace the US Dollar regardless of what happens.
We hope you give this a listen, allow it digest and then listen again. Above all, we hope you are aware that tomorrow will not look like yesterday. Everything is changing. Are you ready for your world to function differently?
You can read more from Rory Hall at his site The Daily Coin, where this article first appeared. Don't forget to follow The Daily Coin on Twitter and like on Facebook. Only YOU can spread brushfires of Freedom
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