This October may see the beginning of the end for the U.S. dollar as the world’s reserve currency.
Twice every decade the International Monetary Fund meets to discuss their Special Drawing Rights (SDR) currency basket.
Currently comprised of the dollar, Japanese Yen, British Pound and Euro, if China has their way a few months from now, we may well see the Chinese Yuan take its place among the world’s most trusted currencies.
...Focus instead on the actions being undertaken by China and you’ll understand why Chinese President Hu Jintao says that the dollar is a product of the past.
Excerpted From Future Money Trends:
Already we are seeing China and Russia hoard gold with Chinese demand skyrocketing in the past give year… China is both, the world’s largest gold producer and biggest importer… so not only are they accumulating gold by the truck load, but not one ounce produced is leaving their shore.
China… across the board… is preparing for something big in currency markets.…
The world has an unease about the dollar system… President Hu of China said ‘the dollar is a product of the past.’
...this is only part of the story.
In addition to their physical gold holdings, the Chinese have been using a secret gold accumulation strategy that no one is talking about :
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