Interesting how I was talking about it more than one year ago.
Unfortunately, this is coming true.
Tim Geitner and Barack Obama denies the new world currency.
Then, Tim Geitner agrees to the new world currency.
Which one should we trust?
In the first case, he is speaking to us. We are skeptical. He knows that he cannot advance as quickly, or else the rejection would come quickly and strongly and bring too much attention to it.
In the second case, he is speaking to the people who support this move, whom he has affiliation to. They want to move towards a much more global system.
China is talking about it too.
I say that they are going to put this option on the table and when the time is right (eg. Dollar goes down), they will take this option and use it.
What interesting and dangerous times we are in.
1 comment:
It is obvious. The US government is insisting it doesn't want it, but the big think-tanks with lots of policy makers in the US want that to happen.
China would want its yuan to be the currency, but that remains to be seen. How strong is China economically? Whatever the case, it would make China very powerful. China may buy more from other countries, while its low manufacturing costs would still be a good base.
Hong Kong would be in the middle of all the international payments for the transition.
I think they would push for a completely new fiat currency in the future, but that remains to be seen.
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