# Global RESET Challenge: Ultimate Twist by Jim Willie



## BillS (May 30, 2011)

It's a long article but here's part of it.

http://news.goldseek.com/GoldenJackass/1525377600.php

The Global Currency RESET has 100 steps and the first 10-12 appear complete. This is not a fantasy, but very real and in progress. Its progress is not very visible to most observers. Some important steps are seeing tremendous progress, but they are executed in the East with very little press coverage by the insidious lapdog Western press networks. Review many of the RESET features, but in summary form. These are covered steadily in the Hat Trick Letter reports.

*LOST GLOBAL RESERVE STATUS
*
USDollar will no longer have sole global currency reserve status. As central banks across the globe discharge (dump) a sizeable portion of their USTreasury Bond holdings, they will seek alternatives. They will choose Gold bullion and Chinese Govt Bonds more often, in addition perhaps to more Euro Bonds.

*LOST GLOBAL PAYMENT MONOPOLY*

USDollar will no longer have sole trade payment status. It is losing its monopoly, led by oil shipments, the sole status lost to the Chinese RMB. The Petro-Yuan contract out of Shanghai is a major game changer. Many observers believe this is a minor issue, but it is not. As more nations purchase oil with RMB, the banking systems will see the RMB Bonds push out the USTBonds in their reserves management. As the Jackass has stated consistently, gold will be introduced first in trade payment, then in bank reserves, and finally in currencies. The Petro-Dollar is in an advanced stage of its demise. The Petro-Yuan contract represents a death knell to the Petro-Dollar defacto standard. The Saudi oil sales to China in RMB terms represents a dagger in the Petro-Dollar heart, soon to be realized. In the aftermath, Gold will benefit with more demand for trade payment basis equity, like in the Gold Trade Note.


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