Ben Fulford: China and Russia To Sell Off Their Dollar and Euro Holdings?

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Discussions over a new financial system are presently deadlocked

Negotiations taking place in the US right now over a new financial system have become deadlocked. One problem is extreme stubbornness on the part of the City of London (the Rothschilds, Queen Elizabeth etc.). These people do not want to give up any of their ancient privileges so it may be necessary to bankrupt the UK in order to force their hand. Another problem is a stubborn group of North American hold outs who still want the Amero. It is very unlikely and sort of agreement is going to be announced today (February 7th) and discussions will continue throughout the weekend and into Monday.

It may be necessary for the Chinese, the Russians and other foreign currency holding nations to announce they will trade all US dollars held outside of the US and all Euros outside of the Euro zone for a new currency. This would force the decadent Western Oligarchs to admit to reality. Without such a drastic move negotiations may stagnate. In any case we shall have to see if anything is agreed upon by Monday.

Exactly what will they trade those dollars for?

Who will buy those dollars? And for what?

Originally posted by wutone
Exactly what will they trade those dollars for?

Who will buy those dollars? And for what?

they may agree to be sellers of dollar assets in some controlled way perhaps for GOLD.

the people selling the gold will accept the dollars/euro dollars ....but i wouldn't hold my breath waiting for this....and you may have to DIG to find details even should this occur

Sorry, as soon as the usual "suspects" are mentioned I lost all interest and that piece lost all credibility.

Basing a theory on fanciful notions of the NWO, when all of that is based on no evidence and a lot of translation and suspicious observations, doesn't support it at all.

Wild and unfounded propositions at best.

I don't think the problem is Chona trading the dollar into other currencies. The issue is whether China will continue to buy US debt. US debt has always been a good investment because the US faithfully pays the interst and provides a consistent return.

Let us just say that China said on Monday that they will no longer be investing in US debt because they doubt the US's short/long term ability to pay it back.

The declining Chinese appetite for United States debt, apparent in a series of hints from Chinese policy makers over the last two weeks, with official statistics due for release in the next few days, comes at an inconvenient time.

On Tuesday, President-elect Barack Obama predicted the possibility of trillion-dollar deficits “for years to come,” even after an $800 billion stimulus package. Normally, China would be the most avid taker of the debt required to pay for those deficits, mainly short-term Treasuries, which are government i.o.u.’s.

In the last five years, China has spent as much as one-seventh of its entire economic output buying foreign debt, mostly American. In September, it surpassed Japan as the largest overseas holder of Treasuries.

But now Beijing is seeking to pay for its own $600 billion stimulus — just as tax revenue is falling sharply as the Chinese economy slows. Regulators have ordered banks to lend more money to small and medium-size enterprises, many of which are struggling with lower exports, and to local governments to build new roads and other projects.

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