jim4silver
Silver Member
- Apr 15, 2008
- 3,662
- 495
I have talked about this before on here, that is other countries' currencies becoming stronger and taking away "market share" so to speak from the US dollar. Been happening in crude oil purchases between other nations for a while now, and will expand to other forms of trade between these nations.
When this fact is added to other problems of the US dollar such as US debt levels, higher inflation, etc, this does not portend well long term for the dollar.
Even some of our current nation "friends" have signed on for this too. Maybe they see what is coming down the road?
I am just guessing at this, but I would imagine that China is using their US dollars when they buy all that gold, silver and other stuff (like mines in Africa and other such goodies) we read about them buying all the time, slowly but surely getting rid of them without riling up the markets too much. If they dumped their US dollars too fast, the remaining dollars they're holding would take too big of a hit.
Asian economies turn to yuan |Economy |chinadaily.com.cn
PS Also many of these countries listed (other than China) in the article have been buying relatively large amounts of gold and sometimes silver lately via their central banks and/or other gov institutions.
Jim
When this fact is added to other problems of the US dollar such as US debt levels, higher inflation, etc, this does not portend well long term for the dollar.
Even some of our current nation "friends" have signed on for this too. Maybe they see what is coming down the road?
I am just guessing at this, but I would imagine that China is using their US dollars when they buy all that gold, silver and other stuff (like mines in Africa and other such goodies) we read about them buying all the time, slowly but surely getting rid of them without riling up the markets too much. If they dumped their US dollars too fast, the remaining dollars they're holding would take too big of a hit.
Asian economies turn to yuan |Economy |chinadaily.com.cn
PS Also many of these countries listed (other than China) in the article have been buying relatively large amounts of gold and sometimes silver lately via their central banks and/or other gov institutions.
Jim
