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Sovereign Man's Simon Black has some ominous thoughts on Canada's move...Authorized by China's central bank, the deal will allow direct business between the Canadian dollar and the Chinese yuan, cutting out the middle man - in most cases, the U.S. dollar.
Canadian exporters forced to use the American currency to do business in China are faced with higher currency exchange costs and longer waits to close deals.
"It's something the prime minister has been talking about. He wants Canadian companies, particularly small and medium-sized businesses, doing more and more work in China, selling goods and services there," said CBC's Catherine Cullen, reporting from Beijing.
It's happening. With increasing speed and frequency.
The People's Bank of China and the Canadian Prime Minister's office issued a statement on Saturday stating that Canada will establish North America's first offshore renminbi trading center in Toronto.
China and Canada agreed on a number of measures to increase the use of renminbi in trade, business, and investment. And they further signed a 200-billion renminbi bilateral currency swap agreement.
Moreover, just today, hot off the presses, the central banks of China and Malaysia announced the establishment of renminbi clearing arrangements in Kuala Lumpur, which will further increase the use of renminbi in South-East Asia.
This comes just two weeks after Asia's leading financial center, Singapore, became a major renminbi hub, with direct convertibility established between the Singapore dollar and the renminbi.
'Wake Up, Europe'Soros better hope European politicians and people don't wake up to what's going on or it'll be game over for Washington and the Western global 'elite'.
Europe is facing a challenge from Russia to its very existence.What??? How can Russia challenge the 'very existence' of a continent, a continent of which it is a part? What in God's name can he mean by this?
Neither the European leaders nor their citizens are fully aware of this challenge or know how best to deal with it. I attribute this mainly to the fact that the European Union in general and the eurozone in particular lost their way after the financial crisis of 2008.Yeah, thanks in large part to greedy financial terrorists like George Soros.
The fiscal rules that currently prevail in Europe have aroused a lot of popular resentment. Anti-Europe parties captured nearly 30 percent of the seats in the latest elections for the European Parliament but they had no realistic alternative to the EU to point to until recently.Okay, we guess by "Europe," then, he means the European Union, not the continent. Firstly, the EU, in its current form, is essentially a US-controlled organization. Its economic and fiscal policies are based on the 'Washington Consensus'; its foreign policy and military adventures are based on 'American exceptionalism'; its military-intelligence structures were created by - or taken over by - NATO, MI6 and the CIA. So if one is to criticize 'the EU', as it is, then one is criticizing Washington.
The Cold War has never ended from the US side as their goal has always been to crack Russia, geopolitical analyst and author, F. William Engdahl, told RT, adding that the American anti-missile shield in Europe brings the world close to nuclear holocaust.RT: Mikhail Gorbachev is celebrated in the West for his role in ending the Cold War. But will the West listen to him now, when he speaks out against Washington's recent actions?
Comment: The psychopaths in the U.S. are doing everything in their power to prolong the conflict in Ukraine so as to have a justification for their propaganda campaign against Russia.