Huh? How will it help us if the gulf states and the Saudis unpeg from the dollar and sell oil in Euros?
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China’s dollar peg.
The Fed’s loose monetary policy has succeeded in driving down the dollar with respect to many other currencies, particularly the Euro. Yet the yuan is still linked to the dollar despite China’s aggressive monetary expansion. How can this be? Surely the dollar depreciation should have broken the peg and forced the yuan to appreciate? Well, like all things economic, we have been there before.
http://www.safehaven.com/article-8427.htm