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Special EU & EURO Warning – December 14, 2011Offshore Jurisdiction Comparison 
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BRIC Nations Not Using US Dollar for Credit Transactions - BRIC is an acronym referencing the nations of Brazil, Russia, India and China. It is sometimes referred to as BRICS with South Africa added in at the end. I do not think South Africa is significant economically but it is grouped in there anyway. The combined economic strength of these nations is massive. It dwarfs the USA. Just think of the population of India and China alone. These nations account for 40% of the population in the world (3 billion approx.) and 20% of the World Domestic Product. The BRICS nations hold 40% of the world currency reserves most of which is in USD. BRICS is a serious group of players.
What Did BRICS Nations Do – Well they signed an agreement to use their own currencies instead of the US Dollar in issuing credit or grants to each other in commerce. Let's see their own statement:
"Our designated banks have signed a framework agreement on financial cooperation which envisages grant of credit in local currencies and cooperation in capital markets and other financial services," Manmohan Singh told reporters at a news conference with other BRICS leaders.” Thus the death certificate for the USD has been signed. It will take some time for Rigor Mortis to set in.
Who Signed This - The agreement, the first-of-its-kind, was signed at the 3rd BRICS summit here attended by Indian Prime Minister Manmohan Singh, China's Hu Jintao, Brazil's Dilma Rousseff, Russia's Dmitry Medvedev and South Africa's Jacob Zuma. This is quite a cast of characters.
Mainstream Media Blacking Out this Story – Let me prove this to you:
Here are links to the truthful depiction of the story:
BRICS credit: Local currencies to replace dollar
Brics want global monetary shake-up
World’s Five Major Economies (BRICS) Dumped the US Dollar
Now here is a link that covers up the true story from Bloomberg:
BRICS ‘Wary’ of IMF Rules on Capital Controls, South Africa's Davies Says
The mainstream Media in USA will pooh pooh this story as insignificant and not meaning very much to avert panic.
Is BRICS Significant – China had $59,000,000,000 of trade with three other BRICS nations in just the first quarter this year. This projects out to 240 Billion in trade per year just for China. Bear in mind that Russia and China already have a pact to trade with each other (non credit transactions) using their own respective currencies. See links for this below going back to Nov. 2010 which we reported at that time.
China-Russia currency agreement further threatens U.S. dollar
Currency settlement benefits Sino-Russia traders
This is just China we are talking about regarding the $59 billion in trade. The BRICS nations settling in their local currencies is going to get their trading figure to rise significantly. They will not have to be converting to the declining USD anymore. Every time the USD takes a hit one of the trading partners in a deal paid in USD also takes a hit. Converting to the USD incurs conversion charges. Yes folks this is of financial Tsunami proportions.
What to Expect – Expect to see the USD decline more fairly shortly. The decline will be more rapid than in the past. BRICS has 40% of the worlds currency reserves and they just took a major step (past tense) to get away from the USD. The demand for the USD just dropped BIG TIME. Less demand and thus the price of the USD will decline. Basic economics. Expect to see precious metals go up. Expect to see more rising fuel prices. Inflation will of course go up. The safe harbor today is some foreign currencies and precious metals. Real estate needs to drop another 25% before it becomes a haven of any sort and even then it may stay stagnant for many years. This is the trigger. Problem is most people are too deaf to hear it. Please do not keep waiting to get out of dollars, pounds and euros. Things are only go to get worse for the USD, the UK Pound and the Euro. The BRICS nations are not going to be using the Euro or Pound Sterling either. On the other hand you can make some excellent gains holding foreign currencies. The Swiss France went up over 10% this year against the USD just as a for instance. That is a nice return but let's wait until the year is over to see the real gains.
What to Do – Do not get caught holding US dollars. You will be sorry. Instead of making money by holding foreign currencies and precious metals you are going to be losing money due to the declining value of the USD. Same for the Euro and Pound Sterling. Now is the time to move out of theses currencies and increase your assets. Get on the right side of this. How many of your friends, relatives, co-workers and neighbors know and understand what just happened? I rest my case.
Time Estimates – These countries need to trim their USD reserves down as they slowly dump their USD holdings. The idea is not to crash the USD. If they crash it they wind up taking a large loss. I think there is about a one year window, maybe less to get out of USD before it become a second world currency. It will take a longer time to become a third world currency. This announcement and the one in Nov. 2010 were not warning shots across the bow of Washington, D.C. To get them to stop watering down the currency. They know Obama for what he is and who he really is. They have intelligence services. Their confidence has diminished and they are well into the action mode. Two years ago they were firing warning shots and trying to work with Obama. Obama is either trying to destroy the USA with intent or he is as dumb as a bag of hammers. The longer you wait to adjust your holdings the less foreign currency and precious metals your Dollars, Euros, Pounds are going to buy. The choice is yours.
Solutions - We can offer you solutions. Banking in Hong Kong using many different foreign currencies and holding gold is an excellent choice.
Hong Kong Bank Accounts and Hong Kong Corporations
There are other options.
Allocated Gold and Silver, Forex, Futures Trading
Feel free to call us to discuss solutions.
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