Bundesbank Warns China's Currency "On Its Way To Becoming Global Reserve Currency"

Folks, myself and the blogosphere have been warning of this imminent shift in reserve currencies.  The cat is now out of the bag.  The USDollar will lose its global reserve currency status.  The loss may not be complete--it may share that privileged status with other currencies.  But it is inevitable.

Be prepared for much higher import and domestic prices--on everything.  The outcome may not be immediate, as the USDollar may continue to temporarily strengthen as geopolitical fires emerge in other parts of the world.  But the dollar's safe haven status will eventually be challenged as the rest of the world wakes up to its debasement.  Counterfeiting--even if "legalized" or institutionalized, will have market consequences, intended or otherwise.

http://www.zerohedge.com/news/2013-07-06/bundesbank-warns-chinas-currency-its-way-becoming-global-reserve-currency