Friday, May 30, 2008
Economic storm to hit Europe
The Telegraph: Euro suffering from 'reserve currency curse' as investors pull out
Long-term private investors are pulling their money out of the eurozone at the fastest rate since the creation of the single currency, according to a report by the French bank BNP Paribas.
Posted by sold 2 rent 1 @ 11:52 AM (469 views) Add Comment
3 Comments
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1. sold 2 rent 1 said...
What will happen if the Irish vote NO on 12 June too?
WW2 "fifth night" mapped D-Day landings on 14 June 2008 - big destruction period
So what will be the future reserve currency?
We are running out of fiat options.
2. uncle tom said...
"So what will be the future reserve currency?"
Chinese Yuan or Renminbi (RMB) - which means 'money of the people'
That said, the Chinese have been a bit reticent about promoting their dosh as the next global reserve, yet it seems inevitable.
PS: Get used to the idea of a country called Zhong Guo (pronounced jong gwo) - it's what the Chinese call China!
3. Alan Lubin said...
luckily i "kwa shaw" a bit of the old "pu ton kwa"... and most of my spare cash is over in "Zhong gwo"