Dollar to Be 'Discarded' by World: China Rating AgencyBy: Ee Sing Wong
Aug. 07, 2011
FACT CHECK: Hillary Said 90% of Clinton Foundation Donations go to Charity. Actual Number? 5.7%
'The System IS Rigged!' Pat Buchanan Goes Off On CNN Propagandist!
UK: '12yo Refugee' Outed As 21yo Jihadist Threatens To Kill His Foster Mom & Her Kids
Jorge Ramos: "The Future of This Country Will be Composed Solely by Minorities," It's "Beautiful"
Wikileaks: Hillary Plotted Fake 'Grassroots' Campaign Using Celebs to Con Youth Into Voting for Her
The man who leads one of China’s top rating agencies says the greenback’s status as the world’s reserve currency is set to wane as the world’s most powerful policy makers convene to examine the implication of S&P’s decision to strip the United States of its triple “A” rating.
In comments emailed to CNBC, Guan Jianzhong, chairman of Dagong Global Credit Rating, said the currency is “gradually discarded by the world,” and the “process will be irreversible.” [...]
“I think the most pressing issue facing the U.S. at the moment is to reflect on the crisis which happened in relation with the debt ceiling," Guan said. "They should get a clear understanding that the continuous decline of the debt service capability will inevitably result in the outbreak of a sovereign debt crisis.”