Et tu, Britain? United Kingdom to join China in the anti-dollar alliance

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In another awkward blow to the rapidly waning US-dollar hegemony, America and Britain just had their “It’s not you, it’s me” moment.

Late yesterday, the government of the United Kingdom announced that they would be applying to join the Chinese-led Asian Infrastructure Investment Bank… as a founding member.

This is huge.

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Right now, the United States dominates the global financial system.

But after years of endless wars, spying, debt, money printing, bailouts, and insane regulations, the rest of the world has had enough. And they’re looking for an alternative.

China is coming up with an answer.

The soon-to-be-live Chinese International Payment System (CIPS) will provide a way for banks to transfer funds to one another without having to use the US banking system… or the US dollar.

China is also the ringleader behind both the BRICS development bank (called the New Development Bank, or NDB) as well as the Asia Infrastructure Investment Bank (AIIB).

Both of these are multilateral development banks that aim to end the dominance of the western-controlled World Bank and IMF.

NDB includes all the BRICS nations– Brazil, Russia, India, China, and South Africa.

Founding members of the AIIB include China, India, Indonesia, Kazakhstan, Mongolia, etc. They’re typically all rapidly growing and/or resource-rich developing nations.

New Zealand was the first western nation to join AIIB back in October. And yesterday afternoon, Britain announced its intention to become the second.

(Of course in the UK’s eyes they’re the first since New Zealand still belongs to the Queen!)

This is a massive, embarrassing blow to the United States, and to the future of the US dollar.

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