The nation with the strongest currency is the one that calls the shots says Richard Russell, author of Dow Theory Letters, and that’s what China is seeking to achieve.
He says the yuan will ultimately be backed by gold which will make it more attractive than the dollar as the world’s reserve currency and, at the point, the United States becomes second fiddle.
He says the dollar’s decline will be traced to the Federal Reserves easy monetary policy.
Anybody can put ink on paper. The tricky part is making others think that the paper has value.
There is a solution to avoiding this fate. Get rid of the president who hates America and put in a president who loves America, who who actually understands why ink on paper can have value.