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Politics : President Barack Obama
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To: Road Walker who wrote (136484)8/29/2013 4:19:37 PM
From: RetiredNow  Read Replies (2) of 149317
 
LOL. That is very cool. I bet that helps keep your mind sharp. Way to go. I can't wait to have more time to do things like that. I do have my eye on a few courses on there that I want to take as well. One has to do with Chinese monetary policy. I want to learn more about where they are headed. I have this theory that China is buying up the world's gold supply at an accelerating pace, and that, coupled with the bilateral currency deals they are signing with so many countries, is setting them up for the day they announce Renminbi convertibility into hard gold. If they do that, then I think within months to a few short years afterwards, we'll see more trade done globally in Renminbi than in US Dollars, which means the Chinese currency will be the de facto reserve currency. That will have a tremendous downward wealth effect on the US and hamstring our ability to print money with abandon and manipulate our own interest rates. Right now we can do so, because the consequences of QE and ZIRP are spread out among our trading partners globally. But if we aren't the reserve currency, then QE and ZIRP will mean hyper inflation for us.

I think most Americans don't really understand how reserve currency status puts a floor under our national wealth. I think it is only a matter of time when we lose it and China is doing all the things necessary to take it from us. So I can't wait to take that course starting Sept. 30th. Here's the link. Check it out:

coursera.org
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