Will Chinese Money Take Over from Dollar as Global Reserve Currency? Video Makes that Clear...

Will Chinese Money Take Over from Dollar as Global Reserve Currency? Video Makes that Clear… This October may see the beginning of the end for the U.S. dollar as the world’s reserve currency. Twice every decade the International Monetary Fund meets to discuss their Special Drawing Rights (SDR) currency basket. Currently comprised of the dollar, Japanese Yen, British Pound and Euro, if China has their way a few months from now, we may well see the Chinese Yuan take its place among the world’s most trusted currencies.

 ”We’ve watched the Federal Reserve print 16 trillion dollars, bailing out banks, foreign governments, and essentially the entire global debt system. Many experts have shown, though, that this is only leading to an even greater bubble. Peter Schiff, Rick Rule, Ron Paul, and even former Fed Chairman Alan Greenspan have all warned in recent months that a future scenario of high inflation could be upon us.”

U.S. Treasury Secretary Jack Lew says, “China isn’t ready for currency reserve status,” and would certainly like to see the Chinese blocked from entry, preserving the dollar’s status as the world’s go-to currency and primary mechanism of exchange for global international trade. But while Lew and his predecessors have presided over the largest growth in national debt in world history, the Chinese have been strategically positioning, much like the United States did in the early 1900’s, to not just become the world’s largest economy, but to be the super power of the 21st century.