I've always maintained that china making any move to weaken the US dollar was like shooting themselves in the foot, but what do I know...
“I’ve always maintained that china making any move to weaken the US dollar was like shooting themselves in the foot, but what do I know...”
More than most people, apparently, including doomsayers, authors, financial experts who regularly appear in the mainstream media, a horde of doomsayer-followers, gold peddlers, and most non-Americans hoping for China to usurp the U.S. in every measure of perceived power and prestige.
(As an aisde, dollar reserves grew very substantially last year, and the “gain” in the euro’s share of global reserves vs the dollar came primarily as a result of exchange rate revaulation.)