I doubt transferring their hard-earned dollars into Yuan will be...

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Skol

32,984 Posts.

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30/09/14

17:15

Post #: 14051376
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Originally posted by Daytr ↑

Timber, where do I predict the end of the USD? Don't even make mention of the impact on the USD. Its amasing both you, Skol & Sydneyguy interpret from anecdotal information that I post that I am predicting a disaster or the death of something or another. I thought Goldbugs were supposed to be the disaster merchants & conspiracy theorists ! You guys take the crown without doubt! Forever looking through rose tinted glasses, however if anyone just puts out some simple facts that don't justify such a rosy outlook as CNBC or the like then we are doom / gloom merchants. Hilarious!

All I put out is actually what is happening & I form a view on that.
In this case, this sort of direct trade will over time erode the importance of the USD.
The USD for forty years or more has been the only global currency.
The likes of the Euro & Yuan will challenge that & the USD's role will diminish from where it is today. As will the need to hold as many US Treasuries or USD reserves, as there will be viable alternatives & in China's case, gold is one of those alternatives.

Its fairly straight forward. A lot of the world is quite fed up with US dominance in everything from trade to being the world's 'police' & there are mechanisms & tools being put in place to displace some of that dominance.

Its happening, its a reality, ignore it if you like.

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I doubt transferring their hard-earned dollars into Yuan will be at the top of anyone's mind at the moment seeing what's happening in Hong Kong.

You can bet that lots of Chinese are looking at this drama and contacting real estate agents in San Francisco, Los Angeles, New York, London, Sydney and Auckland. And buying USD.

I've predicted for some time that eventually China will split into pieces.

Last edited by Skol: 30/09/14
2 Upvote

0 Great analysis

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