Yuan edges into place as international trade currency

This is what Roubini has to say about it GUANGZHOU, April 16 (Xinhua) — Buyers and sellers at the 105th Canton Fair in south China’s Guangdong Province are no longer restricted to using the U.S. dollar to settle their deals. This year they can also use the yuan, China’s currency. Last week, the State Council […]

Hyperinflation and US bankruptcy when will the dollar finally being dumped as the reserve currency?

“The implication is that authorities must be selling their dollar reserves in order to stabilise the USD-CNY exchange rate,” Gruenwald, a former International Monetary Fund official about the Chinese central bank. According to Puru Saxena, CEO of Puru Saxena Wealth Management the US is already bankrupt. His argument is that the GDP is US$ 14 […]