Loading ...YUAN
OK….Time to Think Differently…It’s a New World Order now !
Saudi is more and more trading Oil in Chinese Yuan
Russia just endorsed trade in Chinese Yuan
Many African nations and South American nations are open for business with China
Ditto East Asian nations
For a long time the US Dollar Index has been the Measure of the US Currency…and what is it measuring against ?
Western Curriences…They call it a “Basket” of Currencies ( Euro Yen Canadian and Aussia Dollars Pound )
More like a Basket Case of Currencies ! PERSONALLY I THINK THE USDX IS RACISTS ! PROBABLY THE MOST RACIST THING IN THE WORLD
AND EVERYTHING HAS REVOLVED AROUND THE DOLLAR INDEX…ESPECIALLY COMMODITIES…DOLLAR UP = COMMODITIES DOWN
WELL SCREW THAT ALREADY !
HERE IS THE NEW BOSS …THIS IS HOW WE WILL MEASURE THE DOLLAR GOING FORWARD IMO…IT’S JUST GETTING STARTED
UP UNTIL RECENTLY THE YUAN WAS “PEGGED” TO THE DOLLAR…TECHNICALLY IT STILL IS I THINK …BUT IN REALITY ?
MEET THE NEW BOSS….YAUNA BET 🙂
Yes, currently it is still pegged to the USD. However as you suggest, as the amount of US trade with China declines and the trade of China with everyone else increases, the Chinese will drop the peg. Not sure when(like everything else the Chinese do, when it is in their best interest.)
>> (like everything else the Chinese do, when it is in their best interest.)
Sir CM, thanks for the laughs.
I recently heard, in person, a Korean guy say to me “the Chinese are very selfish”. Now, if you know me, I never endorse selfishness. Sir Fully and this forum has really reinforced it in me that I show more and more respect to everyone on this forum. And initial reactions to words, posts, etc. can be selfish, “like attacks”, but moving on beyond them is the key to progress and mental sanity.
Living in the Silicon Valley, I see more Chinese, may be next only to living in China. LOL.
And I grew to adapt to them.
How have the Chinese been raised in the US? Their parents, who migrated from the communist dictatorship, must have “learned” something that makes them not only behave selfishly, but teach that to their offspring too. Believe me, I see how much it has hurt me and how much negativity it brought to me, working with the selfish ones of this breed.
Now coming back to the Chinese leadership and their currency: What else would a “sovereign nation” do? They had to keep the peg, and hence lie low, while they were branded a third-world nation, and made to do the grunt work, manufacturing etc. until their day/era came to seize the reins. That day has been decades in the making.
The US and the western world played checkers all along, while the Chinese played the long game, Chess, or may be even the game of Go.
I’m from the land of Modi. Do you remember when he did demonetization?
Was Modi’s overreaction to Covid, including the superstitious idiosyncrasies that he did to destroy the virus, in anybody’s interest? I felt ashamed of what such “leaders” could make the “patriots” do in this day and age of education and the great contribution by Indian minds worldwide.
GL