Larry here, with yet more news on the forward march of the Chinese yuan: Citigroup has just announced that it will offer customers of its London branches yuan-based bank accounts, for the first time ever.
Let me assure you, it won’t be long before you see the same thing happening here in the United States: Bank accounts offered in Chinese yuan. You may not need one or want one, but that’s not the point.
The point is simply this: The forward march of the yuan is occurring at a very rapid pace. Indeed, in the past several weeks, we have seen …
— Chinese banks get the green light to open branch offices in the U.S.
— Taiwan cut the U.S. dollar out of the middle in its trade with China
— London’s major banks enter into a joint effort with Beijing to make London a major yuan trading center
— Japan and China sign a deal to trade yuan directly, eliminating the U.S. dollar as an intermediary
— And now, Citigroup offering yuan-denominated bank accounts in London.
And we’ve even seen the International Monetary Fund and our own Treasury Secretary Geithner officially back Beijing’s bid to make the yuan a reserve currency.
My view: This is all part and parcel of an evolutionary process that will see the U.S. dollar eventually lose its role as the world’s reserve currency. I have absolutely no doubts about it.
Thing is though, our leaders in Washington also know it’s going to happen. In fact, they WANT it to happen.
They WANT the yuan to rise in value, and the dollar to fall in value, so that our leaders can try and default on Washington’s domestic and international obligations, but on the sly, through inflation.
That’s why I’ve been warning you day after day that you should wake up … smell the coffee … and take drastic steps to both protect and grow your money.
Because if you don’t, no one else will help you. No one in Washington, no one in your state capitol, no one in Beijing, and certainly no one in Europe, whose economy is going down the crapper.
The best way I know how to help you protect and grow your money? It’s simple …
Just view my special video, which exposes the truth on how Washington is playing with your wealth … how China is actually in cahoots with Washington … why the yuan will increase in value and the dollar will plunge …
And most importantly what you must do immediately to start protecting and growing your wealth — including select investments that could spin off as much as 365% in gains.
Simply turn up your computer speakers and click this link; the video will begin playing immediately. The video costs nothing to watch.
I repeat: Click here now.