by Bill Holter, Miles Franklin:
It was reported yesterday out of Switzerland that the Swiss want to become an international hub of Chinese renminbi trading. The Swiss government is in talks to swap Swiss francs with China’s renminbi in anticipation of the Chinese currency becoming a reserve currency. It was also reported that Russia is negotiating an $18 billion “goods for oil” deal with Iran and that The White House is “concerned.” Ya think?
Did we even need any more evidence that the world is turning towards China and their currency…and away from the U.S. and our dollars? If you read the first story regarding Switzerland, they fear that “they are playing catch up” …especially with our longtime ally Britain. It was reported a few weeks ago that Britain has been in trade talks with China and levering their mutual business ties through Hong Kong. Of course they are playing catch up as China has been spanning the globe making trade, currency (theirs) and business deals for several years now.
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