Taiwan to Use Yuan as Reserve Currency

Taiwan will let its 80,000 companies drop the dollar and use the Yuan
instead! More PROOF the Chinese currency is gaining rapid ground
displacing the U.S. dollar.

The Asia Times is now reporting that Taiwan wants a new currency pact. Not with the U.S. and the U.S. dollar. But with China — so its 80,000 companies can start directly doing business for their trade with China in yuan — instead of converting to dollars first, then Yuan.

As you know, Taiwan is not part of China, so that’s why it’s been using the dollar as a reserve and trade currency. But if Taiwanese authorities can negotiate the new pact with China — and I’m sure they can — then the dollar’s role in Taiwan as the main trade currency is toast.

If this isn’t proof of what I’ve been telling you all along — that China’s currency is rapidly on the rise to become a major world currency — and that the U.S. dollar is in jeopardy of being supplanted as the world’s only reserve currency ...

My view: If you don’t seriously consider the impact this will have on your wealth, it would be akin to committing financial suicide.

Already, in the past week, we’ve seen the U.S. dollar plunge to record lows against the Chinese Yuan. It’s not going to stop. Over the next two years I expect the U.S. dollar to lose fully half its value against the Chinese currency.

Source: Larry Edelson,, Uncommon Wisdom

Comment:

The loss of Reserve Currency status for the U.S. dollar is one of the many looming financial crises that will further reduce the value of our dollar. This is a direct result of our federal government’s policy of overspending and the Federal Reserves policy of printing money. Our foreign trading partners don’t want to be holding dollars when the U.S. dollar crashes.

Norb Leahy, Dunwoody GA Tea Party Leader