You don't hear much about it, but the world is slowly and ominously turning against the US dollar. The world no longer sees the US dollar as a safe store of value. And if a reserve currency doesn't serve as a store of value, what good is it? Almost every nation holds dollars in its reserves. And quietly, almost every nation is trying to diversify out of dollars. For many decades, you needed dollars to buy oil. And here we see a change that will have its place in the history books.
Nations are making deals with each other to trade in their own currencies, thereby bypassing the need for dollars. China is one of the leaders in this "bypassing the dollar" system. Just for your edification, go to Google and type in "China's plan to bypass the dollar."
With Bernanke's program of QE2 infinity, the world knows that the purchasing power ... Log in or subscribe to continue reading.
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