In time this will be big news

jim4silver

Silver Member
Apr 15, 2008
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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
 

May as well dump the Dollar now for more acculmulation of Wealth like Gold and Silver. I get rid off mine all the time. As soon as I receive it, I spend it. Lol
 

I've been thinking of buying some Yuan, that currency is dirt cheap and just keep raising.... is this going to be the next petrodollar ?
 

I've been thinking of buying some Yuan, that currency is dirt cheap and just keep raising.... is this going to be the next petrodollar ?

I've been thinking of that also but I don't if we can buy it yet or if we can then wait till the Chinese open their own PM Market coming to theaters near you next year. lol

 

Just saw this article today. Looks like another good "friend" of the US has made a deal with China to do direct exchanges and will not need to convert their local currency into dollars anymore to facilitate said exchanges.

Several other countries (think BRIC and even Japan) have been doing similar things for a while.

PS Look at the chart about 2/3's down the page that shows the world reserve currencies so to speak over the last several hundred years. I would bet that by mid way between 2000 and 2100, China will be at the top or some new currency that will be created after some big future financial collapse. We'll have to see.

Thanks, World Reserve Currency, But No Thanks: Australia And China To Enable Direct Currency Convertibility | Zero Hedge

Jim
 

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