Wall Street Strategies - China Leads Revolt Against Dollar

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China Leads Revolt Against Dollar

10/6/2009
By Charles Payne

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The dollar is acting the way it should be considering monetary and fiscal policies. Moreover, massive unemployment and sinking home values actually augur for the dollar being even lower. Then, there are forces acting in concert against the dollar that are conspiring to weaken its value and prestige.

There is a frightening article in the Independent that outlines a (nefarious) plan by central banks from Russia, China, Japan, and Brazil to create a new world currency. Apparently, Middle Eastern countries are involved as well in an effort to eventually stop pricing oil in dollars. The pot is being stirred by China looking to control oil supplies. However, along the way it could turn out an alternative to the dollar could trigger selling among central banks that leads to its collapse.

Charles Payne, Wall Street Strategies CEO, appears every week on FOX News Business shows including Bulls & Bears, Cashin' In, Cavuto and FOX and Friends.

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