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Josh Sigurdson talks with author and economic analyst John Sneisen about the alarming new development between Russia and China as Russia sells Chinese Yuan bonds for the first time.
As countless countries around the world swap out of the US world reserve currency, China has attempted to take the stage as the new world reserve currency. China has of course been leading the cause for a centrally planned cashless society which the IMF wants to implement into the SDR Special Drawing Rights world currency out of desperation as the US dollar as well as countless other fiat currencies around the world reach the brink of collapse.
They are attempting to raise interest rates enough to drop them out but it doesn't look like it'll be possible without going into negative territory, so a centrally planned cashless society is their best option as it stops any run on any bank and teamed with bail-ins they can't really use. It's the ultimate globalist end game.
If your money's in the bank, it's not yours, it's the bank's. If your money's ALWAYS going through the bank via digital transactions, legal tender laws and entirely centralized, then it's NEVER your money, it's ALWAYS the bank's and you're essentially in servitude to the government and banking system.
This is precisely why people have to be aware of this situation and prepare themselves. This will be epic in its destruction of the monetary world.
With bail-in regimes pushed forward, banks can simply take your deposits and spend it on their ridiculous debts. And as unions like the EU and people like Mario Draghi push to stop insurance on bank deposits so that in the case of a bail-in your money won't be insured at all, keeping money in a bank becomes incredibly risky.
Then with Treasury Secretary Mnuchin talking about cutting China off the US dollar which he's already sanctioned the Bank of Dandong on all while the IMF's Christine Lagarde talks about moving their headquarters to Beijing China, this has gotten more obvious than ever. A perfect storm for China.
Don't say we didn't warn you. The powers are shifting.
Stay tuned for more from WAM!
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