First came the shocking news from South Korea. They are planning to reduce their holdings of U.S. dollars as reserve currency in favor of the Yuan and Chinese equities. From an investment relationship, this sounds prudent but runs very contrary to the once unique relationship we held with South Korea. The fact that the government might prefer Chinese stocks to U.S dollars says a great deal. This is setting the stage for what we have described as Phase Three, a direct attack on the sovereign credit of the United States and the U.S. dollar as global reserve currency. We outlined the plans in detail in our book (www.secretweapon.org) and have covered the issue extensively in previous blog posts. We knew that Iran was turning against the dollar. But South Korea?
We should also note that we are losing favor in the Middle East as well as Asia. The Dubai Police Chief gave an important speech in which he faulted the United States for allying with the Muslim Brotherhood. In response, he used his influence to suggest that the Gulf States turn to China and even Russia. He described a chief threat to Gulf State Security as ECONOMIC in the form of unemployment. This was after he proclaimed U.S. policy the number one threat in the region. And, he shared that China’s economy was a better ally than America. Dubai has been a rock of stability in the region but now considers the United States more of a threat than an ally. He is speaking of economic terms and we are losing the economic war globally.
To read more of his speech: http://www.memri.org/report/en/0/0/0/0/0/0/6048.htm.
As we have stated all along, this is a Global Economic War and right now we appear to be losing. The war started at the turn of the Century and we have yet to really understand what is happening. We outlined what is occurring and how we can win in the conclusions section of our book, Secret Weapon (www.secretweapon.org). We must act before it becomes too late.
