In what could be a major sign of things to come, the European Central Bank just switched to Chinese Yuan for the first time. Will this be the beginning of the end for the fiat US dollar? Continue reading
After reassuring the United States that its economy will be propped up by China, Obama has given his thumbs up to the inclusion of Renminbi into the IMF’s SDR basket of currencies.
Renminbi is the official “people’s currency” of China; Yuan is the primary unit of that currency.
In one of its boldest move so far, Bank of China announces renminbi or yuan as:
“RMB: New Choice; The World Currency”
Will it be better for everyone this time?