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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

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Elroy Jetson

To: elmatador who wrote (137148)	12/15/2017 6:54:51 PM
From: Gemlaoshi	1 Recommendation of 217910

Elmat, the central banks will not determine the world's reserve currencies...the markets will. If the PBOC thinks it wants to displace the dollar with RMB or cryptocurrency, it really only has to take two relatively simple actions: (1) lift all capital control restrictions, and (2) let the RMB float against all other currencies and be freely traded. Only then can all market participants freely choose how they want to hold their wealth: gold, bitcoin, dollar, euro, RMB, etc., etc. The PBOC talks a big game, but are scared that liberalizing capital controls and the float would result in a major run on the yuan. All of the Chinese paper billionaires would stampede to get their yuan wealth out of the country into just about any other form of wealth.

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