“The time has come when we need to go from words to actions, and get rid of the dollar as a means of mutual settlements, and look for other alternatives,”he said in an interview with International Affairs magazine.
Over 60 percent of global reserves and 80 percent of global payments are currently denominated in U.S. dollars, according to James Rickards, author of Currency Wars. This gives the U.S. extreme control over other countries’ imports and exports and they are able to force countries into submission using sanctions.
Essentially, the new benchmark will allow exporters, such as Russia, Iran or Venezuela to avoid US sanctions by trading oil in yuan that is convertible to gold – thereby negating the hegemony of the petrodollar.
It seems that the U.S. is slowly losing its power to sanction other countries into submission and it is at the expense of your paycheck. As other countries begin to dump the U.S. dollar to avoid being sanctioned by America, an inevitable inflation crisis will ensue and the government’s hubris may bring on a new great depression.
“It is more of a game changer for the US. As soon as other nations have a real credible alternative to the US dollar, they can dump dollars and switch to the yuan which can spark a dollar crisis. If that happens, not only will there be inflation from the tariffs, but also from the flood of dollars,” Ann Lee, Adjunct Professor of Economics and Finance at New York University and author of the book ‘What the US Can Learn From China’, said.
The Free Thought Project wants to continue to spread the ideas of peace and freedom while simultaneously teaching people how to operate outside of the establishment systems of control like using cryptocurrency instead of dollars. Winning this battle is as simple as choosing to abstain from the violent corrupt old system and participating in the new and peaceful system that hands the power back to the people. We feel that PIVX is this system.
PIVX takes the control the banking elite has over money and gives it back to the people. It is the ultimate weapon in the battle against the money changers and information controllers because PIVX is the only cryptocurrency in existence that allows for completely anonymous storage while simultaneously paying interest.
If you’d like to start your own PIVX wallet and be a part of this change and battle for peace and freedom, you can start by clicking here. PIVX is already accepted all over the world so you can begin using it immediately.