It is apparent in the timeline below that the whole world is trying to back away from the "reserve currency" of today: the US Dollar. More and more political games are going to be played and this will eventually result in the Great War of our century (as Gerald Celente calls it). It all started in late 2010 but the games are accelerating. If you pay attention to the countries involved, you will see that Asia itself is trying to create an Asian reserve currency.
Here's what is happening:
- 24 November 2010: Russia and China want to back away from the USD to lessen their dependencies on the US dollar. They will try using their own currencies for settlement.
- 24 July 2011: China wants to export their goods to Iran in exchange for oil, thereby bypassing the USD (that is also why the USA is trying to go to war with Iran, just to make it more difficult for the Chinese).
- 25 December 2011: China and Japan promote direct trading in yuan and yen to reduce costs of USD currency interchange. Japan buys Chinese government bonds (instead of US government bonds).
- 29 December 2011: India comes to play and wants to strengthen bilateral trade with Japan, thereby boosting the rupee. Japan will invest in Indian infrastructure projects.
- 07 January 2012: Dmitri Medvedev proposes Iran and Russia drop the USD and buy the rial and ruble in bilateral trade. Opposing U.N. sanctions.
- 20 January 2012: India starts paying Iran for oil in rupees, ignoring the U.N. sanctions for whoever tries to trade with Iran. India is relying heavily on Iran's oil.
USD is losing reserve currency status
To protect against the future collapse in the USD it is highly recommended to start accumulating physical silver (PSLV) and physical gold (PHYS). On a side note, PSLV has dropped 10% in premium due to an offering of US$303,600,000 - which makes it a good buy at this point.