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Western Banks in Asia are in Decline
Sooner than later The Western banks will have run it's course in all the fiat money under Keynesian Theory that will make them collapse. The article states The White man was more honest in financials dealings in the past! Not anymore!
Yeah that's Why the big players in The BRIC's are dumping Western monopolize money! Like Reserve currency banks that run The Federal Reserve. They been reserving the same old dollar so much that they don't want to hold it anymore with the Debt crisis over the horizon with stagflation coming.
serf
http://www.scmp.com/comment/insight-opinion/article/2007857/why-days-western-banks-asia-are-clearly-numbered
As they say, history surprises only those who do not follow current trends. For example, in the early 20th century, the US economy was already larger than that of Britain or France, but it took another 50 years for it to lead the world. However, the trends favouring the US were there for anyone with an objective eye to see.
Similarly, how long will it be before a Chinese bank takes over Standard Chartered or HSBC? Such an idea may sound far-fetched or even unpleasant to some but, if current trends continue, it is inevitable.
In a generation, "Western" banks in Asia will be just a memory and a historical footnote. Those who don't believe it must be the descendants of those who thought Toyotas could never replace Morris Minors/Chevrolets.
Yeah that's Why the big players in The BRIC's are dumping Western monopolize money! Like Reserve currency banks that run The Federal Reserve. They been reserving the same old dollar so much that they don't want to hold it anymore with the Debt crisis over the horizon with stagflation coming.
serf
http://www.scmp.com/comment/insight-opinion/article/2007857/why-days-western-banks-asia-are-clearly-numbered
As they say, history surprises only those who do not follow current trends. For example, in the early 20th century, the US economy was already larger than that of Britain or France, but it took another 50 years for it to lead the world. However, the trends favouring the US were there for anyone with an objective eye to see.
Similarly, how long will it be before a Chinese bank takes over Standard Chartered or HSBC? Such an idea may sound far-fetched or even unpleasant to some but, if current trends continue, it is inevitable.
In a generation, "Western" banks in Asia will be just a memory and a historical footnote. Those who don't believe it must be the descendants of those who thought Toyotas could never replace Morris Minors/Chevrolets.
Comments
If the yuan does become a reserve currency, the manipulation of it will have a lessor worldwide impact upon their exports.
Brad Steele
China probably does not the yuan to become a reserve currency.
If the yuan does become a reserve currency, the manipulation of it will have a lessor worldwide impact upon their exports.
They are saying after The dollar loses reserve currency status that they will produce and sell in their own country along with BRIC's with a double B with Britain being let in after BREX. The USA will be basically broke by then.
serf