“The Chinese government announced that the renminbi will become directly convertible with the Singapore dollar… effective tomorrow morning. It’s clear this deal has been in the works for a while, and it’s another major step towards the continued internationalization of the renminbi and unseating of the dollar as the world’s dominant reserve currency. For decades the renminbi has been a tightly controlled currency. It’s only been in the last few years that the Chinese government started loosening those controls, primarily in response to the obvious need for a dollar competitor. China is taking the lead in providing the world with another option.”
Related posts:
Middle Schooler Arrested For Changing Teacher's Desktop Background
Lyn Ulbricht: The Far Reaching Impact of the Silk Road Case
Tell President Obama to Support Warrants for Email Spying
Brain scans reveal fructose link to overeating
Police sued after charging girl with making up rape claim about serial rapist
Stefan Molyneux on Shutting Down Government with Bitcoin
Dianne Feinstein: First Amendment Is A Special Privilege
10 Ways Bitcoin Is Better Than The Federal Reserve
The True Value of Bitcoin: What You Really Need To Know
8 arrested in Huntington Beach as surfing crowd trashes porta-potties after event
Let’s Shed a Tear for those Under-Appreciated Bureaucrats Who Get Lavish Pensions and Live in $700K ...
Secret DARPA Mind Control Project Revealed: Leaked Document
When Cops Don't Need a Warrant To Crash Through Your Door
Silicon Alps: Switzerland’s seriously ambitious startup scene [2012]
John Hussman: The Coming Fed-Induced Pension Bust