The Time to Prepare for Hyper-Inflation is BEFORE It EXPLODES

Thursday, May 19, 2011
By Paul Martin

by Phoenix Capital Research

This is a continuation of a series of essays I wrote concerning the global shift away from the US Dollar as reserve currency. If you missed those essays, a brief recap of the items listed were:

1) China and Russia dropping the US Dollar for trade
2) China ramping up trade with Brazil
3) Saudi Arabia moving to strengthen trade with China and Russia
4) China, Russia, Brazil, India, and now South Africa are moving to trade more in their own currencies (not the US Dollar)
5) Singapore (major financial center in Asia) starting to trade yuan

All of these items are real and documented. And the pace of the move away from the Dollar as reserve currency is not slowing.

Indeed, it was just revealed that ASEAN+3 countries (Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, Vietnam, China, Japan, and South Korea) are researching the prospect of a “common currency” similar to the Euro.

The significance of this development cannot be overstated. The primary question those who do not believe the US Dollar could lose its reserve currency status ask is: what will be the replacement?

For certain there is no one currency that could fit the bill. The Chinese yuan could not do it as China is not ready and in fact ready to suffer a housing and banking collapse. Russia’s economy is a disaster aside from a few key areas (Moscow, St Petersburg, etc), the Euro in its current form won’t even exist in a few years, and Japan is both an ecological and financial disaster (they’ve just announced a 1 QUADRILLION stimulus plan.

Thus, the idea that any one of these currencies could replace the US Dollar as reserve currency of the world at this time is absurd.

The Rest…HERE

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