When the US dollar loses its reserve currency status, how much will it devalue? 10%, 20%, more? Look to history to preserve your future.
Or believe in the politicians who have put our nation in this precarious situation where Liberty hangs in the balance. These are not words to be overlooked as more rhetoric to be lost in the next news cycle.
David DeGerolamo
Russia Returns Favor, Sees Chinese Yuan As World Reserve Currency
Following China’s unwillingness to vote against Russia at the UN and yesterday’s news that China will sue Ukraine for $3bn loan repayment, it seems Russia is returning the favor. Speaking at the Chinese Economic Development Forum, ITAR-TASS reports, the Chief Economist of Russia’s largest bank stated that “China’s Yuan may become the third reserve currency in the in the future.”
Managing Director and Chief Economist of investment company Sberbank Yevgeny Gavrilenkov said at the 15th governmental Chinese economic development forum in the Chinese capital on Sunday (via ITAR-TASS):
“China’s yuan (renminbi) may become a third reserve currency in the world in the future“
