LongCYRX: China has already begun to diversify away from dollar holdings.The Chinese have grown so concerned about the soundness of their dollar investments that the head of China’s second-largest bank recently said the U.S. government should start issuing bonds in China’s currency, the yuan. China and Russia, with the support of other emerging nations want to create a super reserve currency, comprised of SDRs. Bottom line is there is a growing global aversion to the dollar, and it is inevitably headed much lower.
I am sure that there are some banks, that are not in trouble, but the majority are in trouble, just like there are some states in U.S. that are fiscally sound, but 46 out of 50 states are now reported to be so insolvent that they could be filing Chapter 9 bankruptcy proceedings within the next two years.
Don't forget silver, it's actually the better buy.
News 
Market Data 
Discover 
