Oct. 19, 2013
While 20-year highs for the CNY may be enough for many to question the USD’s ongoing reserve status, it is clear that there are many other plans afoot that undermine the dominance of the greenback.
Submitted by Michael Snyder of The Economic Collapse blog,
On the global financial stage, China is playing chess while the U.S. is playing checkers, and the Chinese are now accelerating their long-term plan to dethrone the U.S. dollar. You see, the truth is that China does not plan to allow the U.S. financial system to dominate the world indefinitely. Right now, China is the number one exporter on the globe and China will have the largest economy on the planet at some point in the coming years.
The Chinese would like to see global currency usage reflect this shift in global economic power. At the moment, most global trade…
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