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Central Alberta | The USD is not losing its reserves currency status anytime soon. China wants to buy oil in yuan because they print the stuff. They do not print the USD. If oil exporters are foolish enough to take yuan, that is up to them. As a Canadian, would I take yuan or USD in a trade? I will accept USD but not yuan. If the yuan becomes the reserve currency, then China can't manipulate it as easily for trade advantage purposes, and they can't afford that. Bottom line is that the USD is more than ever the reserve currency today. The US has taken steps recently to tighten monetary policy and allow interest rates to rise. All other countries including Canuckistan are just basket cases and don;t even try to defend their currency any more. 30 years from now, the loon is gone and we will use the USD as well up here. | |
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