Thanks again to David for providing what I view as a very significant news article out of the Times of India.
You might recall that I had posted an article dealing with the concentrated efforts by the Chinese authorities to work towards this very thing just recently- namely, the effort to make the Yuan an international currency. The biggest hindrance to this has been this lack of convertibility. Once this issue is resolved, and it looks as if there is now a serious, concerted effort in this direction that is gaining in popularity, it is going to be yet another nail in the coffin of the US Dollar.
"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat
Evil talks about tolerance only when it’s weak. When it gains the upper hand, its vanity always requires the destruction of the good and the innocent, because the example of good and innocent lives is an ongoing witness against it. So it always has been. So it always will be. And America has no special immunity to becoming an enemy of its own founding beliefs about human freedom, human dignity, the limited power of the state, and the sovereignty of God. – Archbishop Chaput
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