Pittsburg, Kansas | As a further comment, in the past the Chinese NEEDED the US dollar if they wanted to buy anything non-Chinese (or Euro's) as it was the world accepted reserve currency. They needed it to buy oil, iron ore and all other imports. If they no longer need the dollar for international trade because their own currency is being accepted, how long before they require US importers of their goods to pay in Renminbi? Maybe a possibility or maybe not but the potential exists. To further speculate, as they spend their US currency reserves for hard assets and get their balance of US dollars down to more manageable levels AND if the US dollar value starts to deteriorate................. who knows what could happen to the dollar. If dollar value slides, everything priced in US dollars will be going up in price. Including grain.
John
Edited by John Burns 8/27/2010 09:41
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