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The decline was minimal, but the yuan lost value against the dollar in Q1, the first quarterly...

The decline was minimal, but the yuan lost value against the dollar in Q1, the first quarterly drop since Dec. 2009. With economic growth slowing and capital starting to flow out of China, the direction of the currency is no longer a one-way bet.
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  • withnmeans
    , contributor
    Comments (11) | Send Message
     
    It now begins: It is quite unusual how the U.S. has turned a blind eye to this "or maybe they just don't give a damn", however the BRICS are going to do trade WITHOUT the use of the U.S. dollar.

     

    The BRICS held a conference yesterday to set up trade without the use of the dollar in order to start using currency that has some value, further more not having to put up with the arrogance of the western countries.

     

    So, to put this plainly, we are screwed, dollar will no longer be the world currency and it will massively devalue.
    30 Mar 2012, 08:22 AM Reply Like
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