Finally falls into the Western trap
China just made probably one of its biggest mistakes through its entrance to the club of the Western hard currencies. The move could be considered another effort by the Western monetary monopoly and the global financial mafia to put a dynamite in the foundations of the fast-growing rival group of BRICS, that could provide an alternative against the destructive neoliberal bubble model.
From RT :
The Chinese yuan has been added to the IMF reserve basket, becoming the first currency to be added to the list since the emergence of the euro in 1999. The official entry was made Saturday, bringing to a close, at least partially, Beijing’s years-long struggle for international acceptance on the sort of level enjoyed by the US dollar. The currency now joins the big four: the US dollar, the euro, the yen, and the British pound.
The decision means the Chinese yuan will now be used as one of the International Monetary Fund’s lending currencies in times of emergency economic bailouts. This sort of internationalization is in line with China’s wish for increased legitimacy of its currency.
The limitations China places on its own markets, however, have themselves been to blame for this delayed outcome. “It’s an irreversible path towards opening up, integrating into the global economy and playing the economic game by the rules,” proclaimed IMF Managing Director Christine Lagarde.
As pointed previously:
- This move has probably a deeper target: to stop the increasing independence of the BRICS economic bloc. One of the best ways for such a purpose, is the attachment of one of the biggest economies to the Western economic system, introducing China into the destructive neoliberalism.
- Despite its size and its powerful economy, it is certain that the neoliberal dictatorship will put restrictions on China's transactions with Russia and the rest of the BRICS, targeting mainly the complete economic isolation of Russia.
- By joining the West-controlled club of hard currencies, China falls to another trap because it will not be too easy to devalue its currency at will. It is known that China was boosting its exports by devaluing its currency as a key action. In the currency wars so far, the United States many times showed to be displeased with China's flexibility on devaluation.
Now, all you have to do is to pay attention to the words of the head of the IMF mafia, the criminal financial organization that destroyed (and continues to destroy) entire national economies.
Lagarde's statement actually declares the invasion of the free market "jihadists" in China who could contaminate the Chinese economy with the virus of the Western financial capitalism of destruction. Now, China is expected to pay a very heavy price for the fact that the country has been allowed to join the "shiny" currencies, controlled by the Western banking cartel.