China’s Reserve Currency will Threaten Ours

This is Frank Gaffney with the Secure Freedom Minute.

Yesterday may be remembered as when our economic well-being and national security began changing forever.  That’s because the International Monetary Fund for the first time included the Chinese yuan among the world’s reserve currencies.  It even treated China’s money as more valuable than that of Japan and the United Kingdom.  

Economic warfare expert Kevin Freeman warns that this step by the IMF clears the way for Communist China eventually to realize a longstanding goal: “de-Americanizing” international finance by displacing the U.S. dollar’s status as the preeminent global reserve currency. 

That would essentially preclude the U.S. from internationalizing its nearly $20 trillion debt, sending interest rates skyrocketing and plunging the economy into free-fall.

President Obama could have used the United States’ clout at the IMF to prevent this from happening.  Yet, he didn’t.  Further evidence that he’s playing for the other team.

This is Frank Gaffney.