When I heard the news today and read between the lines when China criticised the USA on their downgrading triple A status and their troubles getting the debt in control as well as the US dollar stable.
China roundly condemned the United States for its “debt addiction” and “short sighted” political wrangling and said the world needed a new stable global reserve currency.
“China, the largest creditor of the world’s sole superpower, has every right now to demand the United States address its structural debt problems and ensure the safety of China’s dollar assets,” the Xinhua commentary said.
It urged the United States to cut military and social welfare expenditure. It also said further credit downgrades would very likely undermine the world economic recovery and trigger new rounds of financial turmoil.
“International supervision over the issue of U.S. dollars should be introduced and a new, stable and secured global reserve currency may also be an option to avert a catastrophe caused by any single country,” Xinhua said.
British business minister Vince Cable backed China’s call for a new stable global reserve currency but said that for the moment the U.S. dollar remained key.
The whole article is found here: link Reuters article sat. 6 August 2011
When I read the above I had to think that there is a call for an urgent stable and secured global reserve currency, It is not so much this but the cry for a stable and global currency that is the first step towards what is coming. A new financial system now the world (former) leading economies and currencies are failing.
I see NESARA advancing on the horizon, do you see it also.
Love and Light,