Currency Wars: 40 Countries Buy Yuan & Drop U.S. Dollar! (Video)
(N.Morgan) In some stunning new information some 40 countries will dump the dollar in favor of the Yuan. The dollar is quickly losing it’s status as the most stable of currencies. This could evoke a currency war as we’ve never seen or experienced before. The Dollar’s death is now becoming imminent and closer than any of us thought. While there’s still a lot of focus on Russia and Ukraine, the so-called mainstream media is taking little notice of the possible economic consequences of this conflict.
It has been previously suggested that Russia may seek revenge on the U.S. government by selling off its holdings of U.S. Treasuries. But a related topic is also getting some attention, and that is the status of the U.S. dollar as the world’s reserve currency. After China refused to vote in favor of sanctions against Russia, it is reported that the chief economist of Russia’s largest bank said the Chinese yuan could become a third world reserve currency (assuming the U.S. dollar and the euro are first and second). While I’m not sure this assessment will be correct, it is interesting that this subject is getting so much attention. It is also interesting that a Russian figure would be paying high compliments to China.
The people and politicians of countries around the world, particularly in Russia and China, are getting tired of the U.S. government. In the case of Russian and Chinese politicians, they may just want power for themselves. They also don’t like getting embarrassed. In this regard, it would not surprise me to see some of these bigger countries team up in seeking some revenge against the U.S. They know they have to be careful in how far they play their hand, but they would like to see the U.S., or the U.S. government more specifically, taken down a notch or two.
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I keep seeing this mistake on BIN: its = belongs to; it’s = it is.
Just like a lot write your meaning you’re etc…