*****While silver and gold made new highs almost on an hourly basis over the past two weeks, the

"The International Monetary Fund (IMF) is an organization of 187 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world."

Of course, the line about 187 member countries is really just a convenient technicality, because everyone knows that the IMF gets the plurality of its funding and power from the United States.

So it's very interesting that the IMF would release such damning and surprising predictions about the end of American hegemony and the continued rise of China.

Take a look at the chart below, which tells the whole story:

When (not if) the Chinese let the renminbi rise, it will quickly help the Chinese domestic economy gobble up world GDP share against the weakening dollar.

*****As the United Kingdom newspaper,

The investment implication?

Well, I'm going to keep buying gold, but I'm also interested in buying renminbi with dollars today. I can't think of a better pure play on dollar weakness/renminbi strength.

The bad news is that it's still pretty tough to buy renminbi - but the good news is that it's getting easier.

There are two banks in New York City and one in Los Angeles (that I know of) that let you open up a Chinese renminbi deposit account so you can hold renminbi. I believe the New York banks are FDIC insured, but I'm not sure about the LA branch.

Good investing,

Kevin McElroy
Editor
Resource Prospector