Inflation is rampant in commodities. Agriculturals, metals and energy. Tue US$ losing it’s purchasing power is partly to blame. People have sold the US$ to buy the Euro. In the coming months we’re going to see the Euro sell of as well, but that money probably won’t flow back to the US$.
There’s a new game in town. The US$, the Euro and most every other currency are unbacked paper fiat currency. Not in mankind’s last 4,000 years has a fiat currency ever survived the test of time, not once.
The Chinese now hold the largest reserves of gold and silver in the world..........there is evidence to suggest that sometime in the near future the Chinese will announce that their currency, the remnibi, will be backed by gold and silver. If, or when this happens, you will see trillions of $’s of US, Euro, Swiss Francs and the like being sold in order to buy the remnibi.
I hate to say it, but it’s not hard to envision China becoming the dominant player in the world economically and perhaps military wise as well, within a fairly short time frame of a decade or less.
It will never happen as long as no one can spell "renminbi".
The world will beg for ChiCom money? I think not.
ChiComs peg their currency to the greenback.
ChiComs have to have two currencies, renminbis for international exchange, yawns for domestic consumption.
Yep, the ChiComs can teach those capitalist a thing or two, alright.
yitbos