The Real Side - China Looks to Establish the Yuan as a Global Reserve Currency
Show Notes:
- David gives his thoughts on the Vegas tragedy and the challenges Puerto Rico will face as they try to rebuild their infrastructure.
- The Fed is looking to unwind their balance sheet AND raise interest rates, which has never happened before. David notes that even though this will probably cause a recession, they need to do this to avoid a full on economic crash.
- In the past several years, China has made moves to establish their currency, the Yuan, as a competitor to the Dollar for the global reserve currency. They are doing this by important massive amounts of oil and purchasing it with the Yuan. They are also looking to back their currency with gold.