Jim Rogers On the Death of the Dollar and the Ascendancy of the Yuan

Having a fully convertible currency means that it is able to be traded on the foreign exchange market with few restrictions. Trade involving the Chinese yuan, or renminbi however, still has many restrictions placed on it by the Chinese government and neighboring countries as well. 

Many big steps have been taken in the last year, and more recently though, to move the yuan in the direction of a freely traded, fully convertible currency. For example, Bank of China Ltd. just had its request to bring yuan it collected in Hong Kong back to mainland China. And according to the head of the IMF's Asia and Pacific department, people in Beijing are beginning to understand that both exchange rate flexibility and allowing the yuan to appreciate more quickly against the US dollar, will be necessary to control inflation in China and essential for their economy's continued growth as a major player in the global marketplace.

James J Puplava just interviewed legendary investor, Jim Rogers on the Financial Sense® Newshour about this subject and other economic news closely related to it.

To listen - CLICK HERE!

The Why and How of Investing in Chinese Yuan

Jay Carter

Jay Carter, host of Financial Survival Radio talks about his recent interview with legendary investor, Jim Rogers, and his advice that people store a portion of their wealth in the form of Chinese yuan or renminbi (RNB). He also interviews Chuck Butler of EverBank World Markets who explains how to open an FDIC insured account denominated in Chinese yuan.

WARNING: If you are offended by a four letter word that begins with the letter "s", be advised that Jay Carter does use it one time at the very beginning of the show.

Chuck Butler

One option that neither the host nor Chuck Butler mentioned however, is to purchase and hold a certain amount of yuan (RNB) in cash. This may be an option for some who don't want to fork over the $10,000 minimum needed for an Everbank World Currency account and can be done through several banks and online services. Travelex seems to have the best prices and they promise to beat any competitor's rates. Having the yuan shipped to your door can be as low as $9.99. Even better, if there is a store location in your area, you can pick up your order at no charge. They may charge you a fee if you purchase less than $500 worth of yuan, so pay attention to the total price during the online check out phase, or be sure to ask if you place your order by phone!