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Greg Parker

 
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  • China Wants to Ditch the Dollar [View article]
    While very few can argue about the weakness of the US dollar, I believe that China is in no place to provide a suitable replacement currency, and the Eurozone even less so. Rather than arguing for a new reserve currency, they are probably best to make a push to devalue the yuan in order to stimulate their own economy.

    With the FOMC announcing plans to purchase treasuries, there is a good possibility that they will be purchasing some existing ones from the Chinese, rather than just freshly created ones, in order to appease them a little. All of which could ultimately lead to a collapse of the treasury market.

    mostlymoneymusings.blo...

    Disclosure: At the time of writing the author held a position in TBT.
    Mar 24 02:04 PM | Likes Like |Link to Comment
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