The Almighty Dollar No More?

The Almighty Dollar No More?
By Paul Strand
CBN News

CBNNews.com - THE FEDERAL RESERVE - Recently the American dollar fell to a two-year low against the euro.

You might not think that affects you, but it may be a warning of a dollar disaster that could hit you right in your wallet.

The dollar is the symbol of the world's strongest, most respected economy.

Economic giants like China and Japan have traditionally put their massive savings into safe havens based on the dollar - like U.S. government securities.

China has the world's largest reserves -- more than $1 trillion worth.

But what if the Chinese get worried the greenback might start plunging in value? Or they can get a better deal elsewhere?

Economic consultant Morgan Grace said, "They might want to perhaps find another currency in which to place their valuable reserves."

China's premier hinted they might be thinking along those lines last month when he said they may consider diversifying away from the dollar.

And the equally cash-rich oil producing countries a couple of months back started quietly shifting some of their holdings from dollars into euros.

Click here for the full story! (may need to disable pop-up blocker)