China’s long march to replace the US dollar has taken another giant leap. Beijing has just announced plans to sell 6 billion yuan worth of bonds denominated in the Chinese currency in Hong Kong this month. With this sale, worth about $878.5 China’s Ministry of Finance is taking a milestone step to internationalize the nation’s [...]

The New Gold Rush: Dollar is Down – China Rises Up Investors are rushing into gold and driving down the U.S. dollar. For the first time since the height of the banking crisis, the value of an ounce of gold has topped the psychologically significant ceiling of $1,000. Why the stampede? Investors are losing confidence [...]