ZH Make China Great Again

China, along with other BRICS nations, is taking steps to challenge the dominance of the US dollar in global trade. They are introducing a gold-backed trading currency and exploring strategies to decrease dependence on the US dollar. China is reducing its ownership of US Treasury bonds and increasing its gold reserves. They aim to diversify reserves and use local currencies for international transactions. China's economic stability and growth contribute to their efforts. The US ally, Japan, is also moving away from the US dollar due to the decline of the US economy. China wants to be a great power and is using the same playbook as the US post-1945. They want the yuan to be the currency of emerging markets. The US-China trade war and the weaponization of the US dollar have led China to reduce its holdings in US treasuries and increase its physical gold holdings. The West underestimates China's technological progress. The BRICS nations want to topple the dominance of the US and its dolla This is the Bible News Prophecy Program, bringing you news and analysis of world events, and the light of Bible Prophecy. The following program is brought to you by the Continuing Church of God. Greetings, friends and brethren around the world. This is James Markinette for the Bible News Prophecy Program. Zero Hedge. Make China great again. China is one of the BRICS. Brazil, Russia, India, China, and South Africa Alliance of Nations. They continue to take steps to dethrone the dominance of the U.S. dollar. May 15, 2024. BRICS nations, Brazil, Russia, India, China, and South Africa introduce a groundbreaking gold-backed trading currency. This significant move challenging the dominance of the U.S. dollar marks a pivotal step towards economic sovereignty and resilience, reflecting the prudent principle of building on solid foundations. Expected to be detailed further at the upcoming BRICS Summit in South Africa, this initiative underscores a global trend towards re-evaluating safe-haven assets. From www.prneswire.com De-dollarization. BRICS is getting ready to give the dollar a run for its money. May 15, 2024. The upcoming BRICS meeting in Russia will give top priority to the de-dollarization agenda and take steps to further decrease the dependence on the U.S.A. currency in cross-border trade between the nations. BRICS is currently exploring strategies to undermine the use of the dollar in worldwide corporate transactions. China, the second largest global economy, is rapidly reducing its ownership of U.S. Treasury bonds while simultaneously boosting its gold reserves. According to figures issued by the U.S. Treasury on Wednesday, Chinese ownership of U.S. Treasury bonds decreased to $775 billion after seeing a decline of $22.7 billion in February and $18.6 billion in January. In February, China remained the second largest holder of U.S. government debt. However, China's holding of U.S. government debt has been below the $1 trillion mark since April 2022. With the onset of the global de-dollarization trend, numerous countries have expedited the process of diversifying their reserves by augmenting their gold holdings and adopting local currencies for international transactions. According to data released by the People's Bank of China, China's gold reserves rose to 2,264.87 tons in the first quarter of 2024, up from 2,235.39 tons in the fourth quarter of 2023. A country's central bank holds or controls its gold reserves. China's foreign exchange reserves reached a record high of $3.246 trillion as of March 2024, making them the largest in the world. The Chinese economy experienced a significant increase of $19.8 billion in February 2024, surpassing market expectations. This growth will contribute to maintaining the overall stability of the country's foreign exchange reserves. Interestingly, the U.S. ally, Japan, is also dumping the dollar precisely because of the decline of the U.S. economy and exchange rates. Given the stunning internal and external debts from english.almayadeen.net. Yesterday's announcement by the Biden-Harris administration to greatly increase tariffs against China will further motivate the Chinese to move away from the U.S. dollar. See, Joe Biden hits Chinese electric cars with a 102% tariff. Before the tariff increase was announced, notice the following that was posted related to China. Make China great again! The mass media and Wall Street have been speculating on a devaluation of the Chinese Yuan over the past 12 months. However, investors have to understand that the CCP will sacrifice everything to keep the chart above going. This is the path to de-dollarization and thus to financial freedom. Getting out from under the U.S.D.'s dominance will finally mark the end of a century of humiliation in which foreign powers dictated their way to China. Foreigners must understand Xi's desire to be a great power once again. China will likely be the first great civilization that collapsed, dusted itself off, and came back. Rome didn't do it, neither did the Ottomans, nor the Egyptians, nor the Persians. A country can't be a great power with a weak currency. And you definitely cannot be a great power if you settle your trade in your rival power's currency. Western investors have to understand that the Chinese people have a greater ability to endure suffering for their future prestige than Westerners can comprehend. In that context, Xi will impose all the pain in the world on the Chinese economy before devaluing meaningfully. Not that a devaluation solves anything anyway. China already has a massive trade surplus, and other countries are putting up trade barriers because it is so competitive. The way Xi can address the current domestic crisis is to turn the PBOC into the new Bundesbank of the Global South. Western investors have complained over the years that the PBOC doesn't ride to the rescue of their stock market. But that's not the game Xi is playing. Xi wants the yuan to be the Deutschmark of emerging markets. You don't get to be that by bailing out the stonk monkeys. You get to be that by having a strong bond market and a strong currency. People have had China wrong for ten years and continue to do so because they can't imagine a world in which the central bank doesn't bail out corrupted bankers. China is using the same playbook as US post-1945. Marshall Plan equals Silk Road Fund, OBOR. Asia Infrastructure Investment Bank equals World Bank. WTO equals BRICS. First, you lend the people the CNY they need to buy your capital goods. In 1945, it was Caterpillar. Today, it is Long He Machinery. Then you tell them that they can earn the CNY they need by either selling you cheap assets, i.e. J.P. Morgan buying its headquarters on the Place Vendome for a song in 1958, or by selling you cheap goods. When the latter happens, you start to move into a trade deficit. But that's still way down the line for China in its trade with Global South. With US imports from China declining structurally into a more bipolarized world, it would not make any sense for the PBOC to devaluate the yuan against the USD as China is increasingly focused on becoming a reliable trading partner of the Global South in general and ASEAN in particular. Weaponization of the USD has been the major trigger for China to structurally reduce its holdings in US treasuries and increase its physical gold holdings. Indeed, while Western investors have been piling into the YOLO-driven cryptocurrency trade, Chinese investors have been accumulating physical gold, likely due to their long-standing tradition of viewing gold as a crucial asset to own on rainy days and as a legacy to pass on to heirs. Similar to Russia, US administration has tried to stop China's economic growth by imposing sanction on transfer of technology as part of its trade war with China. These decisions have proven highly ineffective in curbing the technological advancement of the country so far. Chinese technological progress is grossly underestimated by Western powers which tend to still think they will dominate the world forever. From www.zerohedge.com China has been accumulating gold. China has indeed been rising in many areas, but the West, in this case meaning continental Europe, is not going to fall to China economically. We put together the following video on our Bible News Prophecy YouTube channel related to China. China is rising, but... China has risen to be recognized as a major economic power this century. A model of China's president, Xi Jinping, reportedly is the rise of the East and the decline of the West. This rise of China has been concerning many in the West. Is China or Europe prophesied to economically dominate the world before Jesus returns? What about peak China? Did Peter Zeyan say that China might collapse in 10 years? Might China's cuckoo system contribute to social unrest and other problems? Does the United Nations forecast that China's population will drop by 620 million people by the end of this century? Has Europe been taking steps to reduce China's influence in Latin America? Dr. Thiel and Steve Dupuis go over these matters. The BRICS nations want to topple the dominance of the US and its dollar. Notice the following, which is in Bob Thiel's book, Lost Tribes and Prophecies. What will happen to Australia, the British Isles, Canada, Europe, New Zealand, and the United States of America? Those in Iran and some of the Arab lands, along with nations such as Brazil, China, and India, have discussed plans for the removal of the dominance of the USA in global trade as well. The former, again current, president of Brazil, Luiz Inácio Lula da Silva, often claimed that eliminating the US dollar's reserve currency status was one of the reasons that the BRICS alliance, Brazil, Russia, India, China, and South Africa, was formed in the first place. Others have noted that bypassing the USA dollar is still an object of BRICS, and officially BRICS nations are currently working on setting up a new global reserve currency, which may have gold backing. The expansion of BRICS, which is in progress, may ultimately even hurt Australian trade, as well as severely weaken primacy of the US dollar as an international currency. The Bible clearly warrants against cheapening the money supply and encourages having money hold its value. Proverbs 25 verse 4, Isaiah 1 verse 25, Ezekiel 22 verses 18-22. Debt is also warned against. Habakkuk 2 verses 6-8. Yet, policies enacted under the Obama, Trump, and Biden administrations, following certain other administrations, have ignored these warnings. From Escobar, P. BRICS was created as a tool of attack. Woola, Asia Times, August 28, 2019. Also, BRICS developing new global reserve currency. Butin, R.T., June 22, 2022. Helms, K. Economists discuss Russia, China potentially develop gold-backed currency. BRICS information portal, November 11, 2022. Hunter, M. BRICS is becoming the big kid on the block. Implications for Australia, Analysis, Eurasia Review, November 1, 2022. One day the US dollar will be toppled. But let us add that the Bible teaches that a coming European power will accumulate gold too. See Daniel 11 verses 38-43. See also the plain truth about gold and prophecy. How should a Christian view gold? Much of the world is moving towards a type of integration that will result in the final time of the Gentiles. Luke 21 verse 24. See also the times of the Gentiles and the end of Anglo-American dominance. Based on several biblical prophecies, Bob Thiel has long written that the Asians and Europeans will cooperate for a time and eliminate the USA and its Anglo-Saxon descended allies. They will divide their lands among them per Daniel 11 verse 39 and many other survivors will be made slaves. For more details, check out the article Will the Anglo-Saxon Nations be Divided and Have People Taken as Slaves? It should be added that part of the purpose of the Euro was to bypass the USA dollar for international trade and that has happened completely within the Eurozone block in the EU. Plus, the Europeans are also increasing their military spending. Steps towards pushing away the Anglo-American dominance of the world for the past couple of centuries is happening. As Jesus said, And what I say to you, I say to all, Watch! Mark 13 verse 37. Some items of possibly related interest may include Lost tribes and prophecies, What will happen to Australia, the British Isles, Canada, Europe, New Zealand and the United States of America? Where did those people come from? Russia and Ukraine. Their origins and prophesied future Russia in prophecy. Where do the Russians come from? What about those in the Ukraine? What is prophesied for Russia and its allies? What will they do to the Europeans that supported the beast in the end? What church would support the beast? A video titled, Europe and the Holy Roman Empire. Where did the Chinese people come from? Japath? Javan? Magog? Is there evidence that the Chinese peoples must have known about various accounts in the book of Genesis up until their dispersion after the Tower of Babel? What do Chinese writings and characters help show? What about the Garden of Eden? Noah's blood? And the Tower of Babel? A related sermon is also available. China's Biblical Past and Prophetic Actions. For the Continuing Church of God, this is James Martinette. This Bible News Prophecy Program was sponsored by the Continuing Church of God. For more information, including access to our free literature, visit BibleNewsProphecy.net or www.ccog.org.