Is The Dollar's Run Coming To An End?

America has had a unique advantage over all the other nations: the US dollar.   We were given that advantage originally because of America's frugality and steadfastness in fiscal affairs.  But, something "funny" happened after WWII...  and America's financial conservatism went crazy and have devalued the dollar to the point that TODAY'S dollar is worth .003 cents.

China is coming on strong to de-throne the world's use of the dollar in world commerce.

When we no longer can print money and send it world wide (the only printed money would be used in the us)  we will face a financial collapse equivalent to (actually greater than) the 1929 collapse.

We will repudiate the national debt.  it cannot be paid off or even pay the interest on it.

China, Canada to expand use of yuan in trade, investment

Published: Nov 8, 2014 1:52 p.m. ET

By

BrianSpegele

 Shutterstock/Matthias Pahl

BEIJING—China and Canada agreed to expand the use of the Chinese currency in trade and investment, with their central banks setting up a swap line worth the equivalent of $32 billion.

Under the agreement, reached during a visit to Beijing by Canadian Prime Minister Stephen Harper and announced by both sides on Saturday, the People’s Bank of China will designate a clearing bank in Canada for transactions in the yuan—the first in North America and a key step in boosting the use of China’s currency. China also granted Canadian financial institutions a 50 billion yuan quota to invest in Chinese capital markets, according to statements from the Canadian government and the PBOC.

The swap accord would allow the two central banks to lend each other up to 200 billion yuan and 30 billion Canadian dollars, the PBOC said. It said the agreement would be in effect for three years.

China is promoting greater use of the still-tightly managed yuan in the world economy, aiming—Chinese economists say—to eventually to make it a main reserve currency alongside the U.S. dollar and the euro.

The PBOC has signed swap agreements with a number of countries, including one earlier this week with Qatar worth 35 billion yuan in a swap line to boost financial dealings with the gas-rich Gulf state.