Can The US Dollar Face Down The Chinese Yuan?

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US Dollar - Chinese Yuan

Can The US Dollar Face Down The Chinese Yuan? by James G. Rickards, Mises Institute [Editor’s note: Yesterday the International Monetary Fund designated the Chinese yuan as one of the global currencies used to calculate the value of Special Drawing Rights. This event may portend a significant reordering of the world’s monetary system, and serve as a recognition that the US dollar’s ongoing status as the world’s reserve currency is not guaranteed. Jim Rickards terms this a “political decision” by the IMF, and discusses what it means both for China and the US.] Membership in the exclusive SDR currency club…

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