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January
03
2017

The number one news story of 2017 will be the public call for ending the dollar as the global reserve currency
Ken Schortgen

For the past eight years, the idea that the world is going through a paradigm shift... a frequency change if you will, has been simmering in the background of economic, political, and geo-political events. And if there was a beginning point for it all, it would have to be the global financial crisis that shocked the world in 2008.

Yet because the media for the most part is a fiefdom built on propaganda, events that signal change are often distilled down to 10 second sound bites, and five minute conversations around a table of 'experts' and 'pundits' who are either paid tools of the establishment, or are never given enough time to lay out the context of a certain event.

Since 2008 there have been an extraordinary number of events that go far beyond accident and circumstance that one would normally see in a given decade or era. There was Occupy Wall Street, which was a grass roots rebellion against the taxpayer bailouts of the insolvent and greedy banks, which was then followed by the creation of the Tea Party, which sought to oust neo-conservative Republicans in Congress and try to remake the party in the image of the Founding Fathers.

Then came spiritual shifts as people from all over the world waited to see if anything would manifest from the predictions uncovered within the Mayan calendar that was to end this era in December of 2012. This would be followed three years later by the Shmitah, as millions of people in 2015 read and discussed the works of authors like Jonathan Cahn who resurrected the idea of a Shmitah Jubilee, and the 'going back to zero' for debt and property ownership.

Yet for all of these astonishing events that took place globally and in the U.S. between 2008 and the end of 2015, very few actually sustained themselves from having their 'fire' put out.

But that would change once 2016 came around.

2016 saw the two largest rejections of the establishment just short of a full on revolution, where the ballot box completely undid the works of the elites and establishment class. The first of course was the Brexit vote in the UK, only to be followed five months later by the election of the most unlikely President in American history.

But this leads us to an important question... and that is, were the events of 2016 the final flare of an ongoing frequency shift, or does 2017 have even more in store for the world just as it did 100 years ago between the decades of 1914 - 1945?

More than the threat of terrorism and ISIS to the globe at the start of 2017 is the threat of monetary and financial collapse as the world's debt burdens reach levels far beyond anything ever recorded. And at the center of this of course is the U.S. dollar, which dictates the financial fate of nearly every single country and individual since its elevation in 1946 to the world's singular reserve currency. And while the dollar has seen multiple attacks upon it over the past 70 years, both from internal and external sources, to date no one and nothing has been able to remove it from its perch atop a world that is completely run by fiat money.

Until now?

One of the biggest predictions and forecasts emerging from the alternative economic community is that 2017 will be the year that the dollar is removed, either by vote or de facto rejection, as the polar reserve currency, and will be replaced by either the SDR, a gold backed trading system, or a complete return to direct bi-lateral trading which needs no reserve currency to function with at all.

This is not some crazed notion. China is the second largest economy in the world. And the Yuan is now part of the IMF’s SDR currency basket along with the Yen, British Pound and the Euro.

I’m not saying the US Dollar would necessarily LOSE reserve currency status, but if China were to publicly call for this, the consequences would be severe.

As in, CRISIS severe.

— Phoenix Capital Marketing via Zerohedge

A fiat currency by its nature is backed solely by confidence and the ability of the issuing treasury to protect its status through diplomatic or military power. And as with countries who quickly see their currencies die from near instantaneous hyper-inflation, those events are confidence events, not financial, and are due to citizens no longer accepting the stated value of the issued currency.

The United States is entering a pivot point here in 2017 since the current 'asset' backing the dollar is quickly dissolving amid a sea-change of partnerships that do not require oil to be the standard behind the reserve currency. And as we have seen in the past year as well, the number of nations who have dumped their dollar reserves by over $1 trillion are in large part due to the fact that they no longer need a 'middle man' to trade among themselves.

Iran, Russia, Turkey, and China, as well as many other countries, have already stated or actually implemented programs over the past two years designed to facilitate trade without the need for the dollar. And the only ties left are to the ones who's currencies are in some form pegged to the global reserve. But just as forms of money such as Bitcoin and gold emerge anew and as once before to be better and more stable mediums of exchange to currencies being collapsed by their central banks, it is extremely likely that by the end of 2017 someone will officially call for the end of the dollar as the singular reserve currency, setting in motion a cascade of no confidence that will lead to the biggest paradigm shift of all.

 

Ken Schortgen Jr. is a finance writer with a deep background in economics, history, and geo politics. His work has been featured by various national sources and is key individual at the Examiner.com

Rogue Money is a economics-based digital magazine and radio show with in-depth news and analysis which stays ahead of the market and global events. Top market strategists and think tank contributors capture tomorrow's headlines here.

 

 

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