U.S. currency in slow collapse as Chinese yuan quietly replaces the petrodollar
Is the end of the U.S. dollar, bolstered largely by the petroleum industry, ebbing? A number of economists and other financial observers and experts agree, and they think that the Chinese yuan is poised to replace the dollar, like the dollar replaced the British Pound Sterling in the last century. As noted by Zero Hedge, Read More
Dollar closer than ever to losing global reserve currency status as yuan gains IMF approval
The International Monetary Fund is expected to add the Chinese yuan (AKA the renminbi) to its “special drawing rights” currency basket alongside the US dollar, Japanese yen, British sterling and euro. If the IMF does indeed vote to include the yuan, it will signal a “significant milestone” for the country’s currency, according to insiders. Andrew Read More
