Jim Willie: China Moving to Executioner of King Dollar!
SilverDoctors.com
May 28, 2015
The aggravated global financial situation is working toward a series of powerful climax events.
It cannot be saved. It is cratering. It is rotting from the inside. It is fracturing. It will fail. The fiat paper currency system and its many attendant systems are seizing up, being rejected, and are failing in what has begun to be the grandest financial event in modern history.
Last weekend, the Chinese announced the creation of a new 100 billion Yuan fund which will operate more like a window to convert sovereign bonds to Gold bullion in very high volume. The target is the ever-present toxic USGovt debt paper cluttering and contaminating the global banking system. The conversion to Gold bullion will be seen as a declaration of financial war. We are entering a new phase.
In 2006 my work warned that China will move from outsourced producer to trade partner, then to trade rival, finally to opponent in trade war. They are moving to executioner of the King Dollar.
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