There are headlines all over the news today that experts are now claiming the dollar?s role is secure, all doing damage control over Chinese Economist Fan Gang?s statements earlier in the week that the US dollar was no longer seen as a stable currency.

There is much evidence of the severe decline of the American dollar and American economy. Bill Gates, the founder of Microsoft Corp and the world’s richest man, is expecting the dollar to fall further while China continues its phenomenal growth.

GNN

DAVOS, Switzerland (Reuters) –
?The old dollar, it?s going to go down,? he told a fringe meeting at the World Economic Forum late on Friday. ?I am short of the dollar.?

Echoing the views of many other executives in Davos, Gates said the size of the U.S. trade and budget deficits was alarming.

?It?s a bit scary. We are in uncharted territory having the world?s reserve currency having so much outstanding debt,? he said.

China, meanwhile, was an emerging powerhouse that would continue to drive down prices in the years ahead as its promotes what Gates described as a brand new form of capitalism.

?China is the change agent for these next 20 years, in terms of what?s competitive and how things get done,? Gates said.

?It?s the most deflationary thing that ever happened because as you get more IQ in the planet designing good products you get these scale economies that are just phenomenal.?