A bit sick of it all…The dollar will remain the reserve currency. Period!

The Chinese leadership said so yesterday, despite their previous intermittent cat-calls for a new currency. We suspect the cocky little student know-it-alls at Peking University (a common theme at most universities we might add, not just in China) are likely rolling on the floor in uncontrollable laughter at the thought of the US dollar lasting more than a few more months. They can’t wait to run out and sell the dollar and buy euro instead…oh wait, I forgot, they aren’t allowed to do that unless their masters in Beijing approve…so sorry.