Why would China want to make its currency ‘convertible’? That is so an American thing. You know, the greenback is the only currency that counts, so if you can’t convert yuan to greenbacks, it isn’t a real currency.

But that is not China’s goal. They want to make the yuan the ONLY currency in the world. No need to convert it, if it is the only one used. They want the yuan to replace the greenback. not be linked to it.’

Here’s the thing. China wants there to be TWO yuan supplies – one inside China, that stays inside China, and one outside of China, that grows independently. Of course, the one outside the country, paradoxically, is called the greenback.

That’s right – they want to make the greenback a Chinese currency, not an American one. Since more than half of all greenbacks are held outside of America, and more greenbacks are stashed in non-American banks, you can see the plan. If China can own a substantial percentage of these greenbacks, they own the greenback, not America. It becomes THEIR outside-China currency.

Really, since America is no longer on anything remotely resembling a gold, silver, or any other standard, and the Bank of America no longer guarantees it’s value or redemption, on what basis can America claim it is THEIR currency?