Friday, January 31, 2014

Confidence in dollar so bad globally even Zimbabwe has dropped it

When Zimbabwe, the poster child of hyper-inflation in the 21st century, dumps your currency for another because they feel it is being devalued too much, then the ultimate sign of disrespect has been made for a nation’s monetary policy.  Sadly, this is suddenly the case for the U.S. dollar when on Jan. 30, the African nation that saved its economy less than five years ago by adopting the dollar as their national form of money, is now dropping that currency to instead allow the Chinese Renminbi to take its place as the money of choice.

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