Re:In Currency the U.S. is Dominant, Europe is Fading, China...
by patrickg_zill on Tuesday September 24, 2013 @06:43PM
(#6441316)
I can't read that article without hearing "Brahm's Lullaby" in my head ...
"Back to sleep / Little sheep / The USD will be / Just fine..."
Not mentioned in the article: China is signing reciprocal agreements with many countries, which has the effect of completely removing the USD as the intermediate currency.
For instance, if dealing with Brazil, the central bank of each country allows for direct Chinese RMB / Brazil real conversion, completely cutting out the USD's role.
"Back to sleep / Little sheep / The USD will be / Just fine..."
Not mentioned in the article: China is signing reciprocal agreements with many countries, which has the effect of completely removing the USD as the intermediate currency.
For instance, if dealing with Brazil, the central bank of each country allows for direct Chinese RMB / Brazil real conversion, completely cutting out the USD's role.
See for example: http://www.zerohedge.com/news/2013-04-13/china-takes-another...