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Rebel Capitalist News

News: This Can't Be Happening...Did China Just Kill The Dollar!?!

Rebel Capitalist News

George Gammon

Investing, Business

4.71.1K Ratings

🗓️ 7 April 2023

⏱️ 15 minutes

🧾️ Download transcript

Summary

The Rebel Capitalist helps YOU learn more about Macro, Investing, Entrepreneurship AND Personal Freedom.

Transcript

Click on a timestamp to play from that location

0:00.0

Hello, full of rubble capitals, hope you're well. So this just in the news, the dollar has actually

0:08.8

been replaced by the Chinese Yuan in this country.

0:15.0

Let's dive right into this Bloomberg article.

0:18.0

Check it out and then try to connect some dots

0:22.0

so we can answer the question is the dollar doomed.

0:26.4

Is this the death of the dollar?

0:29.2

Has China just killed the dollar.

0:33.0

Well, let's get right into Bloomberg and check it out.

0:36.0

Title of the article, Chinese Yuan replaces the dollar

0:40.0

as most traded currency in Russia.

0:44.0

I mean this is huge news for sure.

0:46.0

So let's look at this chart to begin with and you can see in March of 2022

0:51.0

the dollar ruble volume is represented by this light blue line.

0:59.2

Chinese yewan ruble represented by the dark blue line or black or whatever you want to call it.

1:05.5

I think it's dark blue.

1:06.7

And you can see how the amount of the transaction volume with U.S.D. Rubel has gone down since July of 2022.

1:18.3

Its trend is down.

1:20.6

And then you can see how the Chinese Yuan Rubel, the trend is definitely up to a point where this month, and it looks like the month, March,

1:33.0

looks like in February as well.

1:35.8

The Chinese Yuan actually exceeded.

1:40.3

It replaced the dollar as the most traded currency in Russia.

1:46.8

So if you're watching the news, if you're on social media,

...

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