Tuesday, July 22, 2014

Federal Reserve

The Swiss, who have the most stable currency on earth, agree to swap currencies with China. This is a huge blow to the dollar.

Yuan to rapidly become third most traded currency.
"The renminbi is on track to become the third-largest international currency behind the US dollar and the euro within five years as China accelerates its promotion of the yuan, said a Renmin University of China report released on Sunday. "
Like oil, this infrastructure can't change overnight. Unlike oil, it can change rapidly over years, not decades.

No comments:

Post a Comment