Out of the foreign currency reserves in the world, 60% are in United States (U.S.) dollars. The largest economies are creating agreements to move away from using U.S. dollars for international trade. This shift will cause huge negative problems for U.S. citizens.
The second largest economy in the world is China. Their rapidly growing economy is predicted to pass up the economy in the U.S. by 2015-2016.
10 Reasons Why the Dollar Is About to End as the World Reserve Currency
#1: Japan and China to Use Own Currencies In Trade
In 2013 the second largest economy on earth (China) and the third largest economy on earth (Japan) made an agreement to use their own currencies (rather than U.S. dollars) to trade with each other. The U.S. media ignored this very important agreement completely.
#2: The BRICS Plan to Use Own Currencies to Trade buy brics currency With Each Other
Pursuant to a statement by a news source from India.
“The five emerging economies of BRICS – Brazil, Russia, India, China and South Africa -signed two pacts for promoting intra-BRICS trade… The agreements will enable credit facility in local currency for businesses of BRICS countries. BRICS trade that has grown rapidly at the rate of 28% for the last 5 years years but is still very below the five economic powerhouses full potential.”
#3: Russia and China Use Own Currencies for Trade
For more than a year now Russia and China have used their own currencies to settle trades with each other, rather than settle trades in the U.S. dollar as was done for decades. This is important for investors to know as they can make profits in currency exchanges when they trade right.
#4: Use of Chinese Currency Growing In Africa
Africa’s biggest trading partner since 2009 was China. Meanwhile, China seeks to encourage the use of Chinese currency in Africa by buying partnerships in existing mines and businesses.