ARE YOU NEW HERE? NOT LOGGED IN? PLEASE TAKE A MOMENT TO REGISTER FOR AN ACCOUNT AND LOGIN TO REMOVE THIS WINDOW
Welcome to PatsFans.com. Do you have an account? If not - please take a moment to register for our forum and experience a much smoother experience with fewer ads, along with no longer having to see this notification window. Also learn about how you can receive a free Patriots T-Shirt from the Patriots Official ProShop by CLICKING HERE. Please enjoy your stay here, and Go Pats!
Russia says yuan could be reserve currency in decade
Are we seeing the beginning of the end of the American empire?
George W. Bush was the architect but Obama is the catalyst.
Last edited by mikey; 06-06-2009 at 08:49 AM..
DONATE TO PATSFANS.COM
RECEIVE A FREE PATS T-SHIRT AND SAVE 15% OFF WHEN YOU BUY FROM THE OFFICIAL PROSHOP!
Free T-Shirt & Save 15% Off!
Like Our Site? Please help support our site and server costs by DONATING TO PATSFANS.COM and receive a FREE PATRIOTS T-SHIRT and SAVE 15% off EVERY purchase you make from PatriotsProShop.com. You'll also receive added benefits to your account including Removing All Ads During Your Experience Here At Our Forum.
NEEDED YEARLY SITE DONATIONS: 345 | CURRENT # OF SUBSCRIBED SUPPORTERS: 98
This will happen maybe several years after China opens up its currency, which it has yet to do
I think you underestimate the speed at which these things can happen. All it really takes is a touch of the keypad. China will open it's currency the second it decides to...it could be tomorrow. World domination without firing a shot. Too bad we didn't think of that.
Seriously, though. They are in no hurry to do anything - never have been. They see history and the future on a scale of thousands of years unlike us, who freak out when the Dow drops 100 pts in an hour. They might as well wait until the rest of the world completely implodes and their currency will be the de-facto reserve by default.
All the current conversations have been about replacing the dollar with an international basket of currencies. I think the above comments are correct, that a market-denominated Yuan without state support would be much less scary to use as a reserve currency.