China to replace the dollar with the yuan as the world's main reserve currency

a reply to: Ultralight

Frustrated? Of course not. People like me will always be there to call out ignorant people like you.

What will happen I believe is we will see a POOL of world reserve currencies, not just one. During this pivot towards the east. There won't be a single reserve currency, look at all the countries stockpiling GOLD, those countries will be part of the reserve currency, and the new BRICS monetry fund. That is the purpose of all the gold stockpiling. To solidify this eastern pivot.

Frankly, this is what we need, an alternative. Right now having just the IMF, and the US Dollar and SWIFT is just not working.

www.zerohedge.com...

Seems we are overdue for another change.

a reply to: bullcat

If you use sites like zerohedge to form your opinions then yes, things need to change. When have countries NOT stockpiled gold?

Honestly, you act like people wanting as much gold as possible is something new.

Sure, let's have China become the new world's reserve currency. It's not like they have ever defaulted on debt..oh wait they have?

It's not like China steals Intellectual property, or copies other countries products. Of course not, the rules don't apply to China.

On serious note though. Every country around the world is controlled by a small group of people. If you think changing the reserve currency to something "Asian" would make the world a better place, by all means fight for that.

a reply to: c0gN1t1v3D1ss0nanC3

I am not ignorant. I may not know everything about everything, but I know just enough to be dangerous!

originally posted by: c0gN1t1v3D1ss0nanC3
a reply to: bullcat

If you use sites like zerohedge to form your opinions then yes, things need to change. When have countries NOT stockpiled gold?

Honestly, you act like people wanting as much gold as possible is something new.

Sure, let's have China become the new world's reserve currency. It's not like they have ever defaulted on debt..oh wait they have?

It's not like China steals Intellectual property, or copies other countries products. Of course not, the rules don't apply to China.

On serious note though. Every country around the world is controlled by a small group of people. If you think changing the reserve currency to something "Asian" would make the world a better place, by all means fight for that.

It is clear those small people controlling the world WANT a pivot to the East.

Why is that?

People have been claiming the Chinese currency will replace the dollar as the world's preeminent reserve currency on these Boards for the last couple of years. Nothing's happened. These are stories made up by people who want something to happen and who don't understand what a reserve currency is.

The dollar and the Euro are the two main reserve currencies, followed by Sterling, the Japanese Yen, the Swiss Franc and the Canadian dollar. All these currencies are backed by major, diverse and developed economies. They have value because even in a recession (e.g. countries with the Euro) the economies are sufficiently robust to survive.

The Chinese yuan cannot be a reserve currency while it is pegged to the dollar i.e. the Chinese authorities do not allow the currency to float and find it's "real" value. The view is that if they did this the Chinese economy would suffer big-time.

The Russian rouble is attached to a poor economy (Russia), and has shown serious weakness. Foreigners would not touch this currency other than to wipe their bottoms with it.

originally posted by: paraphi
People have been claiming the Chinese currency will replace the dollar as the world's preeminent reserve currency on these Boards for the last couple of years. Nothing's happened. These are stories made up by people who want something to happen and who don't understand what a reserve currency is.

The dollar and the Euro are the two main reserve currencies, followed by Sterling, the Japanese Yen, the Swiss Franc and the Canadian dollar. All these currencies are backed by major, diverse and developed economies. They have value because even in a recession (e.g. countries with the Euro) the economies are sufficiently robust to survive.

The Chinese yuan cannot be a reserve currency while it is pegged to the dollar i.e. the Chinese authorities do not allow the currency to float and find it's "real" value. The view is that if they did this the Chinese economy would suffer big-time.

The Russian rouble is attached to a poor economy (Russia), and has shown serious weakness. Foreigners would not touch this currency other than to wipe their bottoms with it.

You're also forgetting SDR's Special Drawing Rights. (Code: XDR). It can be thought of as an IMF currency.

a reply to: johnwick

" America has the world's most stable gov and most stable currency, backed by the richest nation and most diverse culture in the worlds history. "



Not Anymore . The Collapse of the U.S. Dollar is Inevitable, it will more than likely happen in the Next 5 Years . Be Prepared...............

a reply to: Zanti Misfit

People have been saying that for decades. Not that it couldn't happen...but WW3 would happen way before the dollar collapsed.

At that point, it doesn't really matter if the dollar collapses does it?

Sort of like a...reset button eh?

Hundreds of millions of people would die. The countries with the biggest armies and the biggest Military Industrial Complexes would thrive, and they would just start all over once the killing stops.

All I know is that I would HATE to be anywhere near Eurasia once WW3 starts.

a reply to: bullcat

It isn't clear at all actually.

a reply to: c0gN1t1v3D1ss0nanC3

WW3 could breakout After an Economic War fought between the West and the rest of the World . If that is the case , then alot of People in the West will Suffer Way before the Bombs start dropping .