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Bove: How China Is Toppling The US Dollar

Thursday, 30 May 2013 | 5:31 PM ET

The US dollar as a reserve currency is as good as dead.

So says Dick Bove, Vice President of Equity Research at Rafferty Capital. And, he thinks the American government is making things worse for the greenback.

"A year and a half ago, about 900 banks accepted the yuan as something they could trade in," says Bove. "Today, it's over 10,000."

Watch the video above to get more of Bove's shocking statistics and analysis of how the US government is pushing China to the top even faster.

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