(Thank you Bulldog for sending this to Dinar Recaps.)
BULLDOG75: WASHINGTON CANNOT STOP CHINA!!!
Washington cannot stop China so they have thrown in the towel and will join them, the China led AIB. De-dollarization continues. 35 nations have joined as founding members and Washington realizes it has been whitewashed. Final score: ChinaAIB 35, Washington 0. Defeated, limping, whitewashed and bruised black and blue, Washington concedes. GCR is around the corner. Watch gold and silver go to probable $5000 and $300 respectively along with the currency reset Buckle up.
Stay blessed. Play it close to the vest. :)
Washington Blinks: Will Seek Partnership With China-Led Development Bank
by Tyler Durden
Don’t look now, but Washington just blinked. As we’ve documented exhaustively over the past week, pressure has been building steadily for the US to strike some manner of conciliatory tone towards China with regard to the Asian Infrastructure Investment Bank, a China-led institution aimed at rivaling the US/Japan-backed ADB.
Britain’s decision to join China in its new endeavor has prompted a number of Western nations to throw their support behind the bank ahead of the March 31 deadline for membership application. Because the AIIB effectively represents the beginning of the end for US hegemony, the White House has demeaned the effort from its inception questioning the ability of non-G-7 nations to create an institution that can be trusted to operation in accordance with the proper “standards.” Now, with 35 nations set to join as founders, it appears Washington may be set to concede defeat. Here’s more, via WSJ:
The Obama administration, facing defiance by allies that have signed up to support a new Chinese-led infrastructure fund, is proposing the bank work in a partnership with Washington-backed development institutions such as the World Bank.
So essentially this is just the old “if you can’t beat ‘em, join ‘em” strategy disguised as an attempt to bring the AIIB into the fold of US-dominated multinational institutions.
Infrastructure needs around the world are enormous. Emerging countries need new ports, railways, bridges, airports and roads to support faster growth. Developed economies, meanwhile, must replace aging infrastructure. The Asian Development Bank estimates its region alone faces an annual financing shortfall of $800 billion a year. The consulting firm McKinsey & Company estimates global infrastructure-investment needs through 2030 total $57 trillion.
And with that, one more leap towards de-dollarization is now in the books.