South Africa joins in on attack on US Dollar trade currency status

Beware, the worldwide attacks on hallowed status of American Dollar continue! These ought to be huge concerns for ordinary citizens with savings in this currency, as well as whatever investors are left hoarding their reserves in this currency. From today's headlines:

Brics move to unseat [US] dollar as trade currency

SOUTH Africa will this week take some initial steps to unseat the US dollar as the preferred worldwide currency for trade and investment in emerging economies.

Thus, the nation is expected to become party to endorsing the Chinese currency, the renminbi, as the currency of trade in emerging markets.

This means getting a renminbi-denominated bank account, in addition to a dollar account, could be an advantage for African businesses that seek to do business in the emerging markets.

The move is set to challenge the supremacy of the US dollar. This, experts say, is the latest salvo in the greatest worldwide currency war since the 1930s.

A short while ago I blogged about use of gold as currency for transactions between India and Iran. If these trends continue, it can only be a matter of time the attacks will move from "trade currency status" to "reserve currency status".

There already are serious grumbling concerns about multi-route transfer(s) of funds from Federal Reserve to Bank of England to European Central Bank, eventually being used for bailouts in countries such as Greece. Since it's not fully disclosed how much such mischievous activity has contributed to devaluation of American dollar, it is hard to fault countries like South Africa on looking for alternatives for this currency.

As I said, these are SERIOUS warning signs from around the globe. But meanwhile, mainstream American media continue with their charade and mainstream American populace continues to stay sound asleep in its catatonic trance.