China, Russia quit dollar

As the American economy slips further into the morass, and the U.S. Federal Reserve plows ahead with its ill-conceived debt monetization program, the U.S. dollar feels the impact.  The once proud greenback which acted as the world’s reserve currency is now expected to be the world’s weakest currency according to J.P. Morgan Chase.  Already the cracks are showing as Russia and China have decided to dump the dollar for bilateral trade between the two countries.

What does all this mean?  The Bible tells us that the entire world will ultimately be under a new economic system where the ability to buy or sell will be predicated upon having a mark upon ones’ hand or forehead.  Such a system would be so much easier to administer if all national currencies became redundant and a new world currency were implemented; in all likelihood, an electronic cashless world currency, no longer pinned to the value of any national currency, (such as the U.S. dollar).  By dumping the American greenback, the economy of the United States becomes no more or no less important that any other world economy.  In essence, they become one.  And that is the plan for the world in the very near future, under the control of a future global world leader.

From the articles:

China and Russia have decided to renounce the US dollar and resort to using their own currencies for bilateral trade, Premier Wen Jiabao and his Russian counterpart Vladimir Putin announced late on Tuesday. Chinese experts said the move reflected closer relations between Beijing and Moscow and is not aimed at challenging the dollar, but to protect their domestic economies.

"About trade settlement, we have decided to use our own currencies," Putin said at a joint news conference with Wen in St. Petersburg. That has forged an important step in bilateral trade and it is a result of the consolidated financial systems of world countries," he said.

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The dollar may fall below 75 yen next year as it becomes the world’s “weakest currency” due to the Federal Reserve’s monetary-easing program, according to JPMorgan & Chase Co. “The U.S. has the world’s largest current-account deficit but keeps interest rates at virtually zero,” Tohru Sasaki  said at a forum in Tokyo yesterday. “The dollar can’t avoid the status as the weakest currency.”

China, Russia quit dollar

http://business.asiaone.com/Business/News/Story/A1Story20101124-248833.html

Dollar to Become World’s ‘Weakest Currency,’ JPMorgan Predicts

http://www.businessweek.com/news/2010-11-17/dollar-to-become-world-s-weakest-currency-jpmorgan-predicts.html