Chinese President Says Dollar as Global Currency a Thing of the Past

Townhall.comKatie Pavlich

According to the Wall Street Journal, Chinese President and leader of the Communist Party Hu Jintao has called the U.S. dollar functioning as the global currency a "product of the past" and is encouraging the global community to move toward the Chinese yuan for international investment.

Considering the U.S. owes over $1 trillion in debt to China, this is a very bad sign. Throw in George Soros, a man responsible for bringing down four major currencies around the world including the British sterling and the Russian ruble, the situation gets even more scary.

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