Posted on 05/25/2013 8:45:09 PM PDT by KMR
Start buying Chinese currency, guys. It's going to be big time.
(Excerpt) Read more at forbes.com ...
I’ve piddled around in currencies with some success and have looked into Renminbi. I’m not a trader, have no FOREX account, I’ve done it via short term currency CD programs. The bar is pretty high to get into RMB via these programs, $80,000 minimum last I checked. That say to me that there is demand.
But, I have difficulty in trusting a currency coming from a command economy with more than just a trace of communism remaining in it. Dollar strength will put a damper on such expectations too, odd as that sounds given all the recent QE profligacy. So, I don’t know about all that, it’s no sure thing.
China as an exporting economy has a lot to lose with a strong currency. Japan could tell them a thing or two about it.
No doubt, it’s a race to the bottom.
Maybe.
they dream.
ChiPing
Those are op-eds. If you see the word CONTRIBUTOR attached to a writer, then he is not staff. And if he is filing under op-eds then he is writing opinion which is not necessarily shared by Steve Forbes.
Hi there. I have the perfect product for you then.
https://www.google.com/finance?q=MUTF:GARBX. The Guinness Atkinson China Renminbi Yuan & Bond Fund. It wont make you smashingly rich, but it is a way for you to hold RMB assets. Nothing is a sure thing, but HSBC just said recently that the yuan will replace the yen as the third most traded currency in the world behind the euro and dollar...
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