Over the years the US dollar has become weaker and weaker, and it seems the Chinese Yuan is getting stronger and stronger. In a few years China's GDP is believed to surpass the US GDP making it the strongest in the world. Recently at the BRICS annual meeting, the five fastest growing countries decided to ditch the dollar and use their own currencies in mutual trade putting the buck almighty in jeopardy. Michael T. Snyder, founder of TheEconomicCollapseBlog.com, joins us to discuss what the future holds for the US dollar.
Friday, October 5, 2012
Video: Will the US dollar fall to the Chinese Yuan?
From the YouTube description:
Breaking US Dollar Collapse News
What's Behind the Decline of the US Dollar?
This is one the of the best and simplest explanations we have seen:
The U.S. dollar's downward slide is accelerating as low interest rates, inflation concerns and the massive federal budget deficit undermine the currency. - Wall Street Journal, April 23, 2011Interestingly, the Federal Reserve is responsible for, or an active participant in all three of these factors.