The Phaserl


Chinese central banker: “Renminbi will become reserve currency”

from Sovereign Man:

Out of Beijing, Chinese financial magazine Caijing has reported that the vice president of China’s central bank Pan Gongsheng made some rather candid remarks about the dollar and renminbi at a recent monetary seminar.

Over the past several years, the dollar has lost significant ground to other currencies, in its share of international trade transactions and national reserves settlement.

This means that, more and more, people around the world are dealing in currencies other than US dollars when they trade with one another.

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1 comment to Chinese central banker: “Renminbi will become reserve currency”

  • NaySayer

    One Fiat ponzi currency with no backing is no better than any another. So the chinese central bankers will control the next unbacked currency? So what?

    When will people wake up and just use gold/silver/copper commodity money for their purchases and cut out all these governments and central banks??? A letter of credit for large purchases can be used to buy things if someone doesn’t want to carry the actual metal (sort of like a check) but one that is immediately redeemable for the real metal. We don’t need governments and their elite controlled cental freaking banks to conduct our lives.

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