pascoe-meter update, page-86

"rowingboat... The renminbi will never become the reserve currency. A dictatorial one-party state? You're kidding right?"

Yes, I'm kidding Skol... not for decades anyway. Heck, they're not even floating their currency yet. My point is potentially the Renminbi could be if China becomes the world's importer instead of exporter. Every country would have no choice to accept Renminbi, gold backing or not, if they wanted to sell their stuff to China. It's why the US won't experience hyperinflation in the foreseeable future - every country accepts USD for the privilege of selling their stuff to it, especially China and Japan. They won't reject USD because they need America to sell to.


Rowingboat