Jim Rickards “Monetary System a Race Between SDR and Gold”
United States President Barack Obama is in the middle of nine-day trip in the Asia-Pacific. According to reports, really this is all about China, with the Administration focused on the Asian country’s expanding influence. High on the list is reportedly getting commitments from China to enact a more flexible currency rate. We’ve seen this song and dance before. Meanwhile, US Congress has issued a report saying the Chinese currency, the yuan, could threaten the dominance of the US dollar within a decade. But are we already in the midst of a currency war? James Rickards argues that’s absolutely the case, and he wrote the book on it: “Currency Wars: The Making of the Next Global Crisis.” He talks to us on this episode of Capital Account with Lauren Lyster.
Watch Part 2 @ http://www.youtube.com/watch?v=_D6jBFmZIF4