Last week I wrote about the possibility that the dollar might be in danger of remaining as the world's reserve currency. That is a benefit which allows us to buy commodities in dollars rather than having to trade for another currency to buy them. Yesterday China's President, who by the way is meeting with President Obama this week, came right out and said that our day's in that esteemed position are numbered. He went as far as to say that the yuan shouuld assume that role. Do you think that bothered stocks? No. They merrily advanced 50 points seeming to ignore such a dire possibility.
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- Topic: ActiveRain Community