RT: China and Switzerland to launch yuan trading in Zurich . . . goodbye, fiat dollar . . . and it’s all happening without a full blown WWIII. Guess who’s winning? ~J

Has anyone noticed that no bombs are being dropped over this? The fiat dillar is dying, and no one is even mourning. They are just quietly moving on 🙂 ~J

 

Published time: January 21, 2015 14:16

Reuters / Arnd Wiegmann

Reuters / Arnd Wiegmann

The central banks of China and Switzerland are planning to establish a yuan trading center in Zurich. The deal is expected to increase the number of European transactions in yuan.

The agreement will be signed during the visit of Chinese Prime Minister Li Keqiang to the World Economic Forum in Davos, Xinhua news agency reports.

“A memorandum of understanding will be signed between the central banks of the two countries during Chinese Premier Li Keqiang’s visit to Switzerland. It is an important step in the internationalization of the yuan, especially in Europe,” said a government official.

According to the agreement, Switzerland will receive a quota of about $8 billion (50 billion Yuan).

This step comes under the framework of the QFII (Qualified Foreign Institutional Investor) program that allows foreign investment in Chinese securities using foreign currencies. Similar centers already exist in Hong Kong and London.

READ MORE: China overtakes Japan to become world’s second largest stock market

In July 2014, the central banks of China and Switzerland signed an agreement on a $24 billion (150 billion yuan) currency swap to boost bilateral trade and economic relations.

China, the world’s second largest economy, has been pushing the yuan as a rival to the dollar in the global financial system since 2010. In November 2014, the Bank of China started to operate European yuan clearing in Frankfurt.

READ MORE: Frankfurt begins first European direct settlements in Chinese yuan

The Chinese yuan is traded directly against the dollar, euro, the Japanese yen and Russian ruble among other currencies. Settlement worldwide in yuan reached $485 billion (3.01 trillion yuan) in 2013 compared to $330 billion (2.06 trillion yuan) in 2012.

This entry was posted in Financial/economic information, Illuminati/Terrorism/Corruption, Political and tagged , , , , , , , , , . Bookmark the permalink.

6 Responses to RT: China and Switzerland to launch yuan trading in Zurich . . . goodbye, fiat dollar . . . and it’s all happening without a full blown WWIII. Guess who’s winning? ~J

  1. yimsha says:

    From: 2012: What’s the ‘real’ truth? <comment-reply@wordpress.com>; To: <yim40shaw@yahoo.ca>; Subject: [New post] RT: China and Switzerland to launch yuan trading in Zurich . . . goodbye, fiat dollar . . . and it’s all happening without a full blown WWIII. Guess who’s winning? ~J Sent: Wed, Jan 21, 2015 7:25:23 PM

    Jean posted: "Has anyone noticed that no bombs are being dropped over this? The fiat dillar is dying, and no one is even mourning. They are just quietly moving on 🙂 ~J

     

    Published time: January 21, 2015 14:16

    Reuters / Arnd Wiegmann

    The centra"

  2. vicky says:

    Yes and there’s been quiet movements of gold around the world, would love to hear from Karen Hudes she’s gone awfully quiet too. !!

  3. gear13 says:

    Jan 17th update: http://youtu.be/ecdcFjD1bd8

    Big changes are coming

  4. Ilex says:

    Yes Jean but there is still weather modification and airplanes dropping out of the sky. I am sure there is more but these are the two ruling factors as of late.
    On a side note, I have not had chemtrails in 2-3 days………..hmmmmmm

  5. demetrius13 says:

    Reblogged this on demetrius13 and commented:
    The handwriting is on the wall, and the handwringing has just begun! Let me guess, will our “elite” friends launch another flag? Time will tell.

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