Abandoning U.S. Dollar for China’s Yuan

A growing number of nations want to replace the dollar as the world’s reserve currency.  “Every time there is an international economic summit, it seems that some Chinese mandarin reiterates the now familiar complaint that the greenback needs to be replaced as the world’s de facto reserve currency” (Time, July 21, 2009).  “Since the global financial crisis… more nations, especially emerging economies, see the yuan as the main reference currency when setting their exchange rate” (China Daily, October 24, 2012).  Even Germany is interested: “Germany and China plan to conduct an increasing amount of their trade in euros and yuan…” (Reuters, August 30, 2012).  The Royal Bank of Scotland “expects a growing number of foreign companies and governments to issue bonds in the Chinese currency as they become ‘more confident’ with the renminbi as an international currency” (Bloomberg, October 11, 2012).

The dollar has been a blessing to the U.S. and the world, yet due to disobedience to God’s laws, the “pride” of American power is being broken (Leviticus 26:19).  Few connect the “falling” dollar with the promotion of homosexual marriage, abortion rights, sexual immorality, and other national sins.  Yet the Bible warns, “God is not mocked; for whatever a man sows, that he will also reap” (Galatians 6:7).  If the United States continues on its sinful course, God will bring the dollar “lower” and allow foreign currencies to rise “higher” (Deuteronomy 28:43)—what we see today as nations consider abandoning the dollar for the yuan. 

For more information on this vital topic, request our free booklet, The United States and Great Britain in Prophecy.