Move over dollar, euro; here comes the yuan

As Greenback Sinks, Dubai’s Chief Economist Calls For Chinese ‘Redback’

A.M. Freyed
Infowars.com
June 7, 2012

Time for dollar, euro to step aside — the redback cometh… Yuan finally set to emerge on a global scale with China hot on heels of US as world’s second largest economy. There are increasing calls for the yuan to become an international payment, investment and reserve currency. The move towards yuan internationalisation requires domestic structural reforms and financial market development. China’s 12th five year plan objectives provide for gradual capital account convertibility and removal of internal financial distortions. This requires interest rate liberalisation and the development of money market instruments and debt capital markets: the “Redback Market”. – GulfNews

So this is the real reason that US pols keep calling for a floating yuan …

In fact, this Gulf News story (excerpted above) tips us that US proposals for the yuan to float has little to do with US “competitiveness” – as often reported in the mainstream media – and everything to do with building blocks for a global currency.

“Competitiveness” is a kind of justification hiding a larger intention. The idea, perhaps, is to gradually replace the dollar as the world’s reserve currency with a basket of currencies.

The International Monetary Fund’s underdeveloped SDRs may provide a worldwide currency basket – at least that seems to be the plan. Perhaps some other global currency is secretly being developed, or perhaps there may be a partial reversion to a planned gold standard … But no matter what, the idea seems to be to advance China’s currency and make it powerful throughout the world.

This is the perspective of Dr Nasser Saidi, Chief Economist of Dubai’s International Financial Centre. He knows what he is talking about, no doubt. In fact, these funny little countries – Dubai, Qatar, etc. are being groomed by the elites to help amalgamate Eastern and Western financial systems.

The top money-men of the Arab Emirates have the ears of the power elite and vice versa. They are important in the larger scheme of things as the elites continue to create their new world order.

The idea is to construct an intermediate system that allows the Western banking powers to pursue business-as-usual in the Muslim world. But in order to get from here to there, a more broadly inclusive basket of currencies needs to be developed.

Right now, the SDR is basically offered to central banks and their governments as a way to adjust reserves and diversify currencies away from the dollar. The IMF itself supports SDRs and provides pricing for them on a regular basis.

The SDR basket is made up of the euro, Japanese yen, pound sterling, and U.S. dollar – but there are plans to incorporate more currencies into the basket over time, including the yuan.

All part of the apparent planned demise of the dollar and the rise of a true global currency. These currencies are not to be subservient to the US dollar in the long run. Just as Western economies are gradually unraveling, so BRIC and developing countries are seen to be rising.
Why is there a need for a basket of reserve currencies? Because the same elites that are planning a world currency are also planning for global government. And you can’t have global government with national currencies.

The BRICs, EU, US, Asia and South America are all being reconfigured to support a world monetary authority. Almost every day there are steps being implemented to create a further convergence of monetary systems …

• According to a recent Reuters article, “The euro needs a master plan and a ‘collective determination’ to rescue the euro.” That’s the perspective of Christine Lagarde, who proposes a “comprehensive set of principles to enforce over time.”

• According to the Gulf News, “India has set up a Gulf unit to track tax evaders. India is posting eight senior IRS officers abroad, including one in Abu Dhabi.” The idea is to pursue unreported funds abroad flowing out of Switzerland and into the Middle East.

• According to Bloomberg, (as previously reported in these pages) Qatar has been picked to provide the QIBOR (a replacement for the staggering LIBOR) providing a daily reference point for banks borrowing unsecured funds from other banks. Total amount of funds affected? Up to US$90 trillion.

These are just three reported examples among hundreds of the homogenization that is being pursued by the powers-that-be. Whether it is the euro itself, Indian income taxes or British-oriented banking facilities in Qatar, the West’s financial system is gradually being imposed and expanded worldwide.

The plan is doubtless to expand the current (and growing) economic chaos until people are willing to accept almost any solution to recreate some level of prosperity – even the “Redback.”


For additional links see www.AmericanFreed.com.

Qatar becoming a new force to be reckoned with: Opens new Interbank Rate, competition to the LIBOR?

Qatar Opens Interbank Rate: Now Most Important Little Country in Middle East?

A.M. Freyed
Infowars.com
May 3, 2012

Bloomberg and Qatar Central Bank Launch Interbank Rate … QIBOR will enhance transparency and promote liquidity … Qatar Central Bank (QCB) and Bloomberg LP are partnering to launch the first ever Qatar Interbank Offer Rate (QIBOR) fixings in a move aimed at encouraging a more active interbank market in Qatar, executives announced today … HE Sheikh Abdulla Saoud Al Thani, Governor of Qatar Central Bank, commented, “In establishing the first-ever benchmark interbank rate in Qatar it was vital that we worked with a partner with deep expertise and credibility in this area. Bloomberg is the market leader for financial data and extending our relationship with them will help position Qatar as a growing force in the global financial markets.” –SunHerald (5/2/12)

Here we go again. Just when we thought little Qatar couldn’t grow any mightier, the country’s financial officials are going to help establish an Interbank Offer Rate for the world’s top banks (QIBOR).

Qatar will be helped in this process by the powerful, elitist, financial media firm “Bloomberg LP,” run by its eponymous owner and Mayor of New York … Michael Bloomberg.

More from the article, above: “Interbank rate fixings are used around the world to provide a daily reference point for banks borrowing unsecured funds from other banks in the local wholesale banking market and this announcement brings Qatar into that market for the first time.”

How big is the market? Estimates range up to US$90 trillion! (That’s the amount of money that QIBOR can affect.)

This is a market that’s ripe for the plucking, given the controversy around the London bank rate (LIBOR). The LIBOR market has been hit by allegations that bank rates were not estimated honestly but were essentially “fixed” in a way that allowed participants to solicit speculative offers against them – that might then lose those speculators money.

Little Tyke to Mighty Player

The planned QIBOR is just one more sign of Qatar’s growing influence in the Middle East. Here are some others:

• Sources say that Qatar’s small but highly-supplied and Westernized army was instrumental in the Libyan war and that about 5,000 Qatar troops are helping run Libya even now. This is a well-kept secret.

• Qatar’s Al Jazeera news station is as ubiquitous in the Middle East as CNN is in the US, Europe and South America. In fact, the two media firms function in tandem – spreading Western propaganda with skill and finesse.

• Qatar is an essential ally of NATO and the US when it comes to a huge military base situated there that the US used to launch its second invasion into Iraq.

• Qatar recently won the right to host the 2022 World Cup and is using the situation to raise its profile as sports-center within both the Middle East and Europe.

Additionally, Qatar’s ruling group is oriented around the Saud family’s fundamentalist-Islamic Wahhabism. The rising influence of little Qatar under Sheik Hamad bin Khalifa Al Thani is partially being managed by a larger, westernized global elite that placed Al Thani on the throne decades ago.

As has been pointed out many times, this global elite is seemingly creating world government via thesis, antithesis … synthesis. The “synthesis” in this case is supposed to be an amalgamation of East (Qatar, Saudi Arabia, Emirates, etc.) and the West.

But before the synthesis can take place, opposites must be established. That’s what is still going on now. Via war to destabilize the Middle East’s secular governments, the elites are creating an Islamic crescent out of Egypt, Tunisia, Libya, etc.

These same elites are using little Qatar as a base to expand a worldwide Islamic presence. They are in a sense bankrolling Islam to turn it into a true modern force.

Once a (controlled) Islam is regnant, as it used to be, Western elites will likely force a synthesis out of the two opposing religious forces (east and west) that will change the face of finance globally.

The goal seems to be to make a world economy far more viable for the billions of Muslims who have no such expectations or ambitions currently.

Little Qatar has apparently emerged at the center of the world-spanning globalist conspiracy!
The evidence is becoming increasingly clear. Qatar’s amalgamam of wicked (Western sponsored) Wahhabism plus the noxious emergent brew of international sports, high finance and faux Middle Eastern journalism all put it at the foul center of this larger elite strategy.
Qatar’s little-known role as a facilitator of Libya’s recent military evisceration plus its evident position at the center of the projection of NATO and US military power make it a country to watch closely.

Now the powers-that-be are busy turning it into a financial center as well. This was to be the role of the Arab Emirates, especially Dubai – but these rulers have not proven effective, at least not yet.

Enter Qatar – or rather, re-enter Qatar with an even higher profile, one that bears watching for those who are convinced that world government is being planned and that a Westernized Middle East is key to the furtherance of this insatiable ambition.

A final thought: Nothing likely happens by accident when it comes to these global elites. If LIBOR is under attack, it is not merely a coincidence but a way of destroying LIBOR in order to transfer the facility to the Middle East.

Criminal indictments are produced … directed history is manifest. Believable? One could argue that Rupert Murdoch’s media empire is being deliberately taken apart for similar reasons.

The gravity of the world is shifting east?