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The book looks back at history and argues that fiat currency itself is a conspiracy; it sees in the abolition of representative currency and the installment of fiat currency a struggle between the "banking clique" and the governments of the western nations, ending in the victory of the former. It advises the Chinese government to keep a ...
In the 2007 book, Currency Wars by Chinese economist Song Hongbing, the term is sometimes used in a somewhat contrary sense, to refer to an alleged practice where unscrupulous bankers lend to emerging market countries and then speculate against the emerging state's currency by trying to force it down in value against the wishes of that states ...
In 1933, China was the only major country to use a silver standard.The use of silver protected China from the initial impact of the Great Depression in 1929, as it primarily traded with gold-standard countries, which saw a reduced silver price, effectively debasing the Chinese currency. [6]
The 1935 currency reform was a monetary policy announced by the Nationalist Government of the Republic of China on November 4, 1935. This reform marked the abandonment of the silver standard and the adoption of a gold standard , introducing the Chinese National Currency (CNC, or Fabi ) as the unified national currency.
A mutiny is taking place in the global currency market, with a growing number of countries ditching the U.S. dollar in favor of China’s yuan — at least, that’s the rumor going around ...
His third book The New Case for Gold was released on April 5, 2016. His fourth book The Road to Ruin: The Global Elites' Secret Plan for the Next Financial Crisis was released on November 15, 2016. In The Road to Ruin , Rickards promulgates a conspiracy theory that "global elites" are using the "stalking horse" of climate change to advance a ...
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In the middle of October 2010, finance ministers gathered in Washington, D.C. for the 2010 annual IMF and World Bank meeting, which was dominated by talk of currency war.. Just prior to the IMF meeting, the Institute of International Finance had called for leading countries to agree on a currency pact to aid the rebalancing of the world economy and to avert the threat of competitive devaluati