Replacing the Dollar

[iainl140285]

Originally Posted by Steve_A

Hi Greenberet,

It wouldn't suprise me in the least if the dollar collapsed tomorrow.

The Chinese have been using the dollars that they have to buy commodities, but they can only buy so much.

So now they're harping on about a new currency again. This is also to put added pressure on the US to get it's act together.

I think the new currency will not necessarily be a 'new' currency, but a different currency, like the Yen, for example.

I don't think the Amero will be used for global currency as it will be administered by the same people who are killing the dollar. Who could ever in their right minds trust these people again?

I think that any new currency will be administered by another state or group of states and the US will be put on the back burner, a little like Russia is today, where it has some sort of say in the world, for political reasons.

Let's see how it all turns out.

Best regards,

Steve

Little by little ...

http://news.bbc.co.uk/1/hi/business/8136066.stm

China has begun a trial scheme that allows trade with its neighbours to be settled with its own currency, the yuan, also known as the renminbi.

Six Shanghai companies have signed contracts with counterparts in Hong Kong and Indonesia to settle deals in the currency.

It means if the two parties to a trade have yuan available, they need not enter world exchange markets to pay.

Executives said the move would save costs and avert exchange rate risks.