The dismal science of economics teaches us that a bubble economy requires a steady supply of money and credit to expand the bubble. A failure to do so results in a slowdown with a potential for collapse.
It is readily apparent that the world’s central banks are pumping printed currencies into their economies in an effort to keep the bubble inflated. In spite of the massive influx of fiat currencies, contraction of the world’s economies is occurring.
To combat this contraction, many are pressing for even more money printing. Unfortunately, such expansion of currency creation threatens the primacy of the dollar as the world’s reserve currency.
Just within the past year or so, China has established several measures that could be used to implement the yuan as the reserve currency. These measures include the formation of the Asian Infrastructure and Investment Bank. China requested that the yuan be included in the basket of currencies that comp...
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