The U.S. equity markets, gold, crude oil and the crypto markets are all up today. This shows that the U.S. investors have returned from the holiday weekend charged up and ready to buy assets to fight the likely devaluation in the U.S. dollar due to the Federal Reserve’s current monetary policy.
Sino Global Capital CEO Matthew Graham (NYSE:GHM) believes that China wants to internationalize the renminbi as a direct challenger to the dollar. Hence, the digital yuan will use the latest technologies to counter “Swift, CHIPS, Fedwire [...],” which are all technologies used by the U.S. dollar but are antiqued and expensive.