Daniel Frishberg Of The MoneyMan Report Shares News with Guest Speaker Keith Fitz-Gerald

"The MoneyMan Report" with Dan Frishberg on Friday featured guest Keith Fitz-Gerald, chief investment strategist for Money Map Press and a contributing editor to Money Morning. Fitz-Gerald also wrote the book "Fiscal Hangover: How To Profit From The New Global Economy," released in 2009.

During the interview with Frishberg, Fitz-Gerald talked about the effects of China liberalizing its policies regarding Americans doing business in yuan. He stressed the importance of this move, because it will allow Americans to invest in U.S. companies while completely avoiding the dollar.

Fitz-Gerald argued that Washington's foolish economic policy in allowing the Fed to print so much money will eventually cause the value of the dollar to significantly shrink. While policy makers insist that there is nothing else for the world to go with but the dollar, China is quietly making it possible for the yuan to compete. While China and the yuan is backed by trillions of reserves, the dollar is backed by trillions in deficit. Likewise, China's economy is growing at 10% while the U.S. is at 2%.

This is a major turning point, because it means that Americans can live and be where they want without having to be tied to a particular economy. It will take more knowledge and research by investors to diversify into another currency, but it will also lead to reduced risk, greater safety, and the ability to direct ones' own destiny.

Fitz-Gerald also noted that as far as stocks go, he is in favor of large-cap American companies that do more than half of their business overseas - companies like General Electric [GE], General Motors [GM], and McDonalds [MCD]. Though small-caps might be the trend of the moment, Fitz-Gerald argued that the larger U.S. companies will be the best overall long-term invesment.

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