Comment on IMF: The Age of America About to EndComments−espeed15yRight now, oil and commodities are transacted in US dollars so countries have to stock-pile dollars. When China becomes the dominant economy, this won't probably won't be the case for long.See this discussion from yesterday -- "Petrodollar Warfare -- AKA the "Oil Currency Wars" (http://news.ycombinator.com/item?id=2477659)
Comments
Right now, oil and commodities are transacted in US dollars so countries have to stock-pile dollars. When China becomes the dominant economy, this won't probably won't be the case for long.
See this discussion from yesterday -- "Petrodollar Warfare -- AKA the "Oil Currency Wars" (http://news.ycombinator.com/item?id=2477659)