A Global Shift is coming - NCCG.ORG Ning Network Archive 2008-10

http://www.businessinsider.com/new-dollar-challenge-china-selling-y...

"The 6 billion yuan ($876 million) bond sale is slated for Sept. 28, the ministry said. Hong Kong is Chinese territory but has its own currency and regulatory system and often is used by Chinese companies to deal with foreign investors."

So if people still have money to spend, now China is competing with the US in the sale of bonds. Reports do indicate that China has stopped purchasing US bonds, though it is possible that the Fed is purchasing bonds through China to make it look like China is still buying.

Even the United Nations is calling for new global currency to replace the dollar now.

http://www.telegraph.co.uk/finance/currency/6152204/UN-wants-new-gl...

The dollar has not been doing well lately, and is down quite a bit today again. Meanwhile, the price of gold and silver continues to go up, nearing record levels once again. China has been trying to convert its US dollars into gold and other commodities lately. Whatever it mines, it keeps. It is apparent that they are moving toward replacing the US dollar with the Yuan.

Back in 1944 the Bretton-Woods conference established the US dollar as the world reserve currency, mostly because America had the most gold and had the most stable currency. The US government had a lot of gold because it had confiscated so much of it from the American people in 1933.

But now all of this has changed. The USA has gone from being the greatest creditor nation to the biggest debtor nation in history. This seismic financial change is finally catching up to us and can only result in a huge shift in the center of gravity for world civilization itself. Why? Simply because the world is shifting back to an emphasis on gold-backed currencies, and China is accumulating gold as fast as it can in order to gain the most financial clout. Whoever has the most gold when its price skyrockets will be the new king of Babylon. (Of course, they do not realize that the new order that is coming is only a temporary transition into the Kingdom way of doing things.)

In accordance with that, China is moving to establish its own gold exchange in direct competition with London. Many countries have stored their gold in The City of London, but now China wants their gold shipped to Hong Kong.

http://www.marketwatch.com/story/hong-kong-recalls-gold-reserves-fr...

HONG KONG (MarketWatch) -- Hong Kong is pulling all its physical gold holdings from depositories in London, transferring them to a high-security depository newly built at the city's airport, in a move that won praise from local traders Thursday.

This comes at the same time that China is getting ready to default on the fraudulent derivatives that big US banks sold them in years past.

http://www.wallstreetbear.com/board/view.php?topic=60540&post=2...

China’s intent to carry out on their threat, these reports say, began this past week when, as perhaps best stated by one American financial analyst, China told the West to go “straight to hell” when the Chinese stated they would deliberately default on Trillions-of dollars in US backed debt security instruments called OTC because they were fraudulently created by Western bankers and as such are now considered an “act of war”.

So whose fault is it? There is plenty of blame to go around, but the root cause is our lawlessness and our official rejection of God's right to establish laws that govern the nations. The Church's lawlessness and hypocritical religiosity has brought this judgment upon us. It brought us into the new Babylonian captivity a century ago, and Babylon has secularized America in order to empower men over God.

The Babylonian bankers and other powerful men have robbed and plundered the little people so much that they have destroyed their own system. They looked enviously at the slave labor force in other nations, with all those hard-working people willing to work for tiny amounts of money. They then transferred the manufacturing facilities to those cheap-labor countries until we were left with a hollow shell. Then when Americans became so debt-ridden that they could no longer buy anything, even from China, they "solved" the problem by throwing more debt-money at it, instead of working to increase the manufacturing base.

Meanwhile, the Wall Street of Babylon continues to look for ways to make money instead of looking for ways to be productive.

http://www.marketwatch.com/story/life-settlements-could-be-wall-str...

SAN FRANCISCO (MarketWatch) - Wall Street is developing a product that packages life-insurance policies into investable bonds, and the plan already is generating controversy, according to a media report Sunday.

In addition, Goldman Sachs Group Inc. /quotes/comstock/13*!gs/quotes/nls/gs (GS 166.61, +3.64, +2.24%) has developed a tradable index of life settlements, allowing investors to bet on whether people will live longer than expected or die sooner than planned, the Times said, adding that spokesmen for Credit Suisse and Goldman Sachs declined to comment.

I find it amazing that these Babylonians can only use their brains to look for new ways to sell off their liabilities. There is only one reason they want to sell these life-insurance policies to others, and that is because they are betting that they will soon be worthless along with everything else. They are betting that Americans will die early for some reason, and so they don't want to be liable for all the life-insurance policies that will have to be paid off. So the solution is to sell them off to unsuspecting buyers, just like they did with the toxic mortgages.

It's the American way, of course.

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