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Will the Coming Economic War With China End the American Empire?

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If history has taught us anything, it's that no empire lasts forever

 

And so it is that America's reign of economic dominance is teetering on the brink, because of how China is positioning itself to shakedown America in 2013.   The Chinese government is blazing a new trail in the international energy trade, and a recent agreement with Russia and Iran may be the final dagger in the heart for the US dollar.   As already mentioned, China is plotting to end the reign of the petrodollar, and they are leading this assault with the help of what some are inclined to call "the new axis of evil":   Russia, Iran, Venezuala, Nigeria and others.

 

Doubtful about this?   Then take a look at this recent article at Examiner.com.   Here's its key announcement:

 

    "Just a few days ago, China made the official announcement ...   as of that day, Thursday, Sept. 6, 2012, any nation in the world that wishes, from this point on, to buy, sell, or trade crude oil, can do so using the Chinese currency, not the American dollar."

 

And they've already begun making deals with big oil exporters to ensure this new way of buying oil internationally.   For example:

    "Major African oil producer Nigeria has agreed to swap a major portion of its dollar reserves for Yuan reserves.   Standard Bank researcher Simon Freemantle says, "We, rather conservatively, anticipate that around 40 percent of [Chinese]-African trade would be settled in [Yuan] by 2015.

 

*    Similarly, China and Brazil have signed a currency swap worth $30 billion, in a deal which, according to the Wall Street Journal is said to encourage Chinese investment in Brazil's oil sector.

 

*    Iran has signed major deals to drop the dollar from oil deals with China, Russia and India.

 

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Several years after receiving my M.A. in social science (interdisciplinary studies) I was an instructor at S.F. State University for a year, but then went back to designing automated machinery, and then tech writing, in Silicon Valley. I've (more...)
 

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