And the bankers usher in the era of the Yuan

Discussion in 'Financial Cents' started by Clyde, Jan 5, 2011.

  1. Clyde

    Clyde Jet Set Tourer Administrator Founding Member

    SHANGHAI, Jan 5 - The World Bank issued its first yuan-denominated bond, raising $76 million and trying to promote the use of the Chinese currency in international markets at a time when China's stake in the institution is about to increase.

    World Bank taps offshore yuan bond market for first time - Yahoo! Philippines News

    and another article:

    My Way News - World Bank issues its 1st yuan bonds in Hong Kong

    Analysts say Beijing wants to see the yuan, also known as the renminbi, or people's money, become a global currency like the dollar or euro, though that could take years or decades.
    Increased use of the yuan abroad could help China by reducing the exchange-rate risks faced by its exporters, who now are paid mostly in dollars.
  2. Brokor

    Brokor Live Free or Cry Moderator Site Supporter+++ Founding Member

    The fact that China has invested in our debt to the point at which it is the majority shareholder might play a small role in how long it takes for the Yuan to become a global currency.

    Yeah, a bad omen for sure. But, it's not like we didn't expect this. Once this happens, and the Dollar is removed as the global currency of choice -it's game over. No more endless debt for America, a loaf of bread will cost a million dollars, and who knows what else.
  3. Clyde

    Clyde Jet Set Tourer Administrator Founding Member

    Well, they say years but with $120 Trillion in actual National Debt, our purse strings might be cut off a bit earlier. I can see the dollar shift being used as a "weapon" against our country. Economic Warfare.
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