(PHOTO: Art by Steven Gagnon)
(7-24-14) Even though the US dollar is the world's reserve currency, there has been much talk recently regarding nation-states using other currencies and moving away from using the dollar in trade.
Despite the recent cases of Turkey's de-dollarization discussions with Russia to move to settlement in local currencies, as well as the DW report that "China's Foreign Exchange Trade System (CFETS) said the Asian nation would start direct trade between the renminbi and the British pound on Thursday in which Sterling and yuan would be directly swapped without using the US dollar as an intermediary," the US Dollar will remain the planet's reserve currency - likely - forever.
Why? Because when economic collapse comes, it's going to strengthen the dollar against all other currencies.
It should be noted that the Chinese renminbi is still a restricted currency – and not free to float – and the Chinese will not make it a free-to-float currency, despite pressure by the United States to do so for years, until such time as it is a free-to-float currency and fully convertible, it could not possibly compete with the US dollar as the world's reserve currency.