China, Japan to Use Yen, Yuan and Not the USD
China, Japan to Use Yen, Yuan and Not the USD
By: Julian D. W. Phillips -- Posted Friday, 1 June 2012
http://news.goldseek.com/GoldForecaster/1338580800.php
In the next month China and Japan (China’s main trading partner) will no longer use the U.S. dollar as the only currency in trade with each other. They will use the Yuan and the Yen directly with each other. This will see the dollar removed from a large chunk of the world’s trade –in itself, not a very large percentage, but a significant one. It’s the start of a trend that is set to grow. We’ve no doubt that China is tailoring its trade with all its trading partners to use the dollar only so far as it is required to deal with the U.S. and other dollar-dependent nations. Oil from Russia utilizes the Yuan and Rouble, and Australia has arranged a similar deal.
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--Thomas Jefferson, 1743-1826--
"I place economy among the first and most important virtues, and public debt as the greatest of dangers. To preserve our independence, we must not let our rulers load us with perpetual debt."
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