EU president recognizes Yuan as the future reserve currency!

Discussion in 'Markets & Economies' started by DutchBullion, May 18, 2011.

  1. DutchBullion

    DutchBullion New Member

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    DutchBullion, May 18, 2011
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  2. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

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    Sounds like someone's got a deathwish :/
     
    Clawhammer, May 18, 2011
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  3. AGgressive Metal

    AGgressive Metal New Member

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    Hard to be a reserve currency if you don't have a big debt securities market in your currency. Also, people have to trust that their property rights and the financial system is stable in order to hold billions of a currency. China has a roughly 15-year record of allowing markets to function, preceded by decades of communism, whereas the US has 220+ years of honoring its debt securities. China is the rising power, but change will be gradual.
     
    AGgressive Metal, May 19, 2011
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  4. THUCYDIDES79

    THUCYDIDES79 New Member Silver Stacker

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    President Nixon wouldnt have said it better himself.
    :D
     
    THUCYDIDES79, May 19, 2011
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  5. projack

    projack Well-Known Member Silver Stacker

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    Not a singe cent repayment since the 60s
     
    projack, May 19, 2011
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