China Reserve Currency Status

China Gets Reserve Currency Status

There is a lot of buzz about the IMF Granting China Reserve Currency Status at their October 20th meeting.  this could adversely affect the strength of the U. S. Dollar and the U. S. Dollar.  I suggest you follow Jim Rickards blog to keep up with this assertion. If you do not know Jim Rickards, he is the asymmetric threats guy who works for the CIA and our government and has written “Currency Wars” and “The Death of Money”, two excellent books I highly recommend you read.

As a precaution I am buying in the money (ITM) puts for December and January on the SPX and other indexes.  Do your own research.  This is not a recommendation just my own precautionary trading.

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About Bill

I have been trading the eMini Futures market for over 20 years. As a venture capitalist, I got tired of waiting 7 years to see if I made any money. Education: a BS in Mathematics and Engineering Physics and an MS in Nuclear Engineering.

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