Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.

Thursday, July 9, 2009

China Expands Yuan Settlement

China expands its agreement to its largest cities including Shanghai, Guangzhou and Hong Kong.
Currencies China

China expanded yuan settlement agreements last week from border zones to its largest financial centers, including Shanghai, Guangzhou and Hong Kong. The same program is being implemented across Malaysia, Indonesia, Brazil and Russia, all nations seeking to reduce the dollar’s role as the dominant of world finance and trade.

The central bank first brought up the concept of a supranational currency to replace the greenback in reserves in March. It will sponsor use of the yuan in trade by arranging export tax rebates. Russia and India said the global financial crisis had highlighted the dollar’s flaws and called for a debate before the G8 Group of Eight leaders meet in L’Aquila, Italy, starting on Wednesday.Things look gloomy for the dollar to say the least


Tags: China Yuan Dollar Currencies


Jim Rogers "the 19th century was the century of the UK , the 20th century was the century of the US , the 21 st century is going to be the century of China "
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