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2012/04/04

Will the US dollar fall to the Chinese Yuan?

-The beginning of the end... 

Over the years the US dollar has become weaker and weaker, and it seems the Chinese Yuan is getting stronger and stronger. In a few years China's GDP is believed to surpass the US GDP making it the strongest in the world. Recently at the BRICS annual meeting, the five fastest growing countries decided to ditch the dollar and use their own currencies in mutual trade putting the buck almighty in jeopardy. Michael T. Snyder, founder of TheEconomicCollapseBlog.com, joins us to discuss what the future holds for the US dollar.
http://youtu.be/wYgxjmIjOi0

#1 China And Japan Are Dumping the U.S. Dollar In Bilateral Trade
A few months ago, the second largest economy on earth (China) and the third largest economy on earth (Japan) struck a deal which will promote the use of their own currencies (rather than the U.S. dollar) when trading with each other.  This was an incredibly important agreement that was virtually totally ignored by the U.S. media.  The following is from a BBC report about that agreement....
China and Japan have unveiled plans to promote direct exchange of their currencies in a bid to cut costs for companies and boost bilateral trade.
The deal will allow firms to convert the Chinese and Japanese currencies directly into each other.
Currently businesses in both countries need to buy US dollars before converting them into the desired currency, adding extra costs.
from 10 Reasons Why The Reign Of The Dollar As The World Reserve Currency Is About To Come To An End The Coming Economic Collapse Blog



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