David Zeiler

How Yuan Reserve Currency Approval Will Doom the Dollar

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The IMF yuan reserve currency approval, announced today (Monday) by IMF Managing Director Christine Lagarde, has sealed the fate of the U.S. dollar.

As of Oct. 1, 2016, the Chinese yuan will become part of the International Monetary Fund’s basket of reserve currencies, joining the euro, the Japanese yen, the British pound, and the U.S. dollar.