Holy hells and heavens to Betsy, we got us a whole heap-a’ Memorial Day weekend ahead! Thus, your liberty fix must be quenched here and last for a long three days. Without further ado, The Friday Morning Roar!
China Moving To Make CN¥ The World Reserve Currency
I’ve been writing for years now (as have many of the writers on this blog) about the precarious position the US Dollar holds as the world’s reserve currency. With our spending levels, debt levels and uncontrollable FED printing problem, the rest of the world is looking elsewhere. China, as one of the new leaders in the world at present is making more than slight rumblings about the weaknesses of the dollar and the strength of the Chinese Renminbi.
With de-dollarization escalating and Chinese officials now openly calling for “a new and more efficient system,” specifically on which is not dominated by the US and the dollar, it appears the day of a rebalancing is approaching more rapidly than most would like to believe. On the heels of the vice president of China’s central bank commenting that “renminbi will become the reserve currency” we thought it time to look at the long-run history of the Chinese currency and its rapidly rising internalization efforts.
As Simon Black of Sovereign Man noted recently, Chinese financial magazine Caijing has reported that the vice president of China’s central bank Pan Gongsheng made some rather candid remarks about the dollar and renminbi at a recent monetary seminar.
Over the past several years, the dollar has lost significant ground to other currencies, in its share of international trade transactions and national reserves settlement.
This means that, more and more, people around the world are dealing in currencies other than US dollars when they trade with one another.
Not to mention, central banks and national governments are starting to hold larger proportions of non-dollar currencies.
Mr. Pan pointed out that China has signed bilateral currency swap agreements with central banks and governments from nearly two dozen countries, in an amount exceeding 2.5 trillion renminbi ($416 billion).
The FED, she trembles…
There is a far deeper plunge that can be taken via the entirety of the article.
Driverless Cars Could Cripple Law Enforcement Budgets, Fight The Police State
The Liberty Crier has an interesting take on what driverless cars could mean to the budgets of the Police State – namely that the lack all the revenues collected (and laws created as liberty-infringing cash-cows, like seatbelt and helmet laws) from human driving infractions will starve the State.
Google’s driverless cars have now combined to drive more than 700,000 miles on public roads without receiving one citation, The Atlantic reported this week. While this raises a lot of questions about who is responsible to pay for a ticket issued to a speeding autonomous car – current California law would have the person in the driver’s seat responsible, while Google has said the company that designed the car should pay the fine – it also hints at a future where local and state governments will have to operate without a substantial source of revenue.
Approximately 41 million people receive speeding tickets in the U.S. every year, paying out more than $6.2 billion per year, according to statistics from the U.S. Highway Patrol published at StatisticBrain.com. That translates to an estimate $300,000 in speeding ticket revenue per U.S. police officer every year.
We’re against driverless drones, but cars that fight the state and keep us safe from cops with cash on their minds? Bring ’em on! Full article here.
Restaurant With “No Weapons, No Concealed Firearms” Sign Robbed At Gunpoint
What’s a Friday without a little irony? Boring, that’s what.
In North Carolina, a local restaurant named “The Pit” (I’m stopping myself from making a “PCU” reference here) posted a sign stating their ban on firearms, exposed and concealed, and armed robbers took note. From Breitbart:
According to Durham’s ABC 11, around 9 PM “three men wearing hoodies entered the restaurant through the back doors with pistols, and forced several staff members to lie on the floor.” The armed men “also assaulted two employees during the crime.”
The suspects are still on the loose.
This echoes the fallacy that if you ban guns, whether it’s in a restaurant or nationally, criminals will somehow obey the laws, or rules or county statutes. We all know they will use those guns anyway. Sorry Mom an Pop. Of course, in this case, the sign was really advertising to the criminals that these people, who were vehemently against guns, would be unarmed and easy prey. Whoops!
Enjoy your long weekend.