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08:07 PM
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Dollar Collapse Update: 7 Of 10 Asian Countries Move From Dollars To Yuan!!
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In accordance with industry accepted best practices we ask that users limit their copy / paste of copyrighted material to the relevant portions of the article you wish to discuss and no more than 50% of the source material, provide a link back to the original article and provide your original comments / criticism in your post with the article.
[quote:Anonymous Coward 27935454:MV8yMDU0MzA2XzM0NTM2Mzk0XzlGNERFOUY1] [quote:Anonymous Coward 24760791:MV8yMDU0MzA2XzM0NTMzNzM3X0NDN0MwODJC] The Yuan is pegged to the USD. It is meaningless. [/quote] There will soon come a time when TCPTB will unpeg it when it suits their interests. (i.e.- when the bottom is about to fall out of the USD) Until then, as far as fiat is concerned, my bet is on the S$. But nothing beats PMs right now as a currency hedge and the real money of choice. [/quote]
Original Message
A "renminbi bloc" has been formed in East Asia, as nations in the region abandon the US dollar and peg their currency to the Chinese yuan — a major signal of China's successful bid to internationalize its currency, a research report has said.
The Peterson Institute for International Economics, or PIIE, said in its latest research that China has moved closer to its long-term goal for the renminbi to become a global reserve currency.
[
link to www.chinadaily.com.cn
]
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