Dollar Falls Most in Month as China Urges New Reserve Currency
If you think everything you’ve witnessed in the economy over the last two years is virtually unprecedented, think again.
The People’s Bank of China — the central bank for 1.3 billion people and America’s biggest creditors — has just issued an economic report calling on the world to replace the U.S. dollar as the world’s reserve currency … and for the International Monetary Fund to issue a new, single "super-sovereign currency."
Make no mistake about it: As China and other major nations with surplus reserves move steadily forward with this new mission, it could have massive implications for almost everything you own.
It could impact every single stock traded in the U.S.
It could affect the value of every long-term Treasury bond … corporate bond … and municipal bond.
It’s bound to send gold soaring through the roof … and could spark another rocket ride higher in the prices of oil and gas.
But as much as I don’t like it, it comes as no surprise to me, or to anyone who has been following the patterns of history over the years.
This investment news is brought to you by Money and Markets. Money and Markets is a free daily investment newsletter from Martin D. Weiss and Weiss Research analysts offering the latest investing news and financial insights for the stock market, including tips and advice on investing in gold, energy and oil. Dr. Weiss is a leader in the fields of investing, interest rates, financial safety and economic forecasting. To view archives or subscribe, visit http://www.moneyandmarkets.com.
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