The World Won't Flock to Paper

"China just surpassed Japan as the second biggest economy in the world and is now stepping up its efforts to internationalize the yuan by allowing foreign financial institutions to participate in their interbank bond market. This is being done as the Federal Reserve begins to once again monetize our debt with the purchasing of $2.551 billion in U.S. treasuries. At this time last year, mainstream economists thought that the Federal Reserve would be exiting its low interest rate policy by now. The truth is, it will be impossible for the Federal Reserve to ever raise interest rates to a level that is higher than the real rate of price inflation."