China, global markets blocking demand for dollar, which will trigger US recession
The globalists are planning to dump the US dollar as the world’s reserve currency, which would trigger an economic catastrophe they can then blame on President Trump.
For the past several decades, the US was able to survive its trade deficit due to global demand for the dollar, especially in the energy sector, but now China, which has taken up the globalist mantle in the planned post-America world, is beginning to trade for oil in “petro-yuans.”
“One of the world’s top energy importers, China, is set to roll out a yuan-denominated oil contract as early as this year,” reported RT. “Analysts call the plan, announced by Beijing in September, a huge move against the dollar’s global dominance.”
“…The contract will enable the country’s trading partners to pay with gold or to convert yuan into gold without the necessity to keep money in Chinese assets or turn it into US dollars.”
Historically, the US has been able to spend more than it earns – and survive economically despite a shrinking manufacturing base – because the dollar is the preferred medium of international trade, giving it greater value in global markets than it would have otherwise warranted.
In fact, the US has actually benefitted from this trade deficit because foreign factories are forced to exchange their cars and TVs for “funny money.”
“There is a dark side to the exchange, however,” wrote financial expert G. Edward Griffin. “As long as the dollar remains in high esteem as a trade currency, America can continue to spend more than it earns, but… when the dollar tumbles and foreigners no longer want it, the free ride will be over.”
Mass inflation will ultimately result as the dollar loses value due to its loss in demand, and it’s certain the central bankers will blame President Trump for this catastrophe if it happens during his administration.
However, this isn’t something the president has any real control over; it’s rather the residual effects of the Federal Reserve printing money out of practically nothing for years and of past administrations using “regime change” to temporarily prop up demand for the petrodollar.
Remember, Muammar Gaddafi was overthrown in Libya not long after he proposed trading oil with a gold-back African currency instead of US dollars.
“Gadhafi’s plan would have strengthened the whole continent of Africa in the eyes of economists backing sound money — not to mention investors,” reported The New American. “But it would have been especially devastating for the U.S. economy, the American dollar, and particularly the elites in charge of the system.”