Duh
Starting to sound like a See-Saw, with Russia sitting on one end, China sitting on the other end, leaving America as the
Monkey In The Middle.
Has there ever been a year where this ridiculous argument was not made?
So the yuan will be the global reserve currency.
Everybody now trusts China most.
It’s no accident.
If not, you can make yourself a slave of the Great Khan in Beijing.
Seems pretty clear to me.
Globalists want trade without political oversight, especially by pesky voters. One good thing about the Ukraine war is that part of globalism might just blow up.
Financial trust in China.
Good luck with that.
“… On Tuesday, CEO of JPMorgan Chase Jamie Dimon warned the world that cutting Russia out of the SWIFT system would yield “unintended consequences.”
That’s a monumental understatement.…”
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I think that weakening the American dollar is an INTENDED CONSEQUENCE of the globalist DemocRATS running the Biden administration.
Almost like a plan.
No rational person wants to play in a sandbox were your wealth can be stolen on a whim.
Western governments keep taking actions that push Russia further and further into China’s deadly embrace.
China has received the message loud and clear regarding sanctions. Believe it or not, with their current real estate slump and extreme leveraging of all assets, China’s economy is an even larger house of cards than the US. (30% of China’s GDP is real estate, and nearly every Chinese investor is heavy in real estate that is no longer selling.)
Attack Taiwan? Fine, keep your container ships at home and see how your economy suffers, Winnie. Russia and the few nations who have sided with them have very small economies, and that would not sustain the Chinese economy in that new financial ecosystem.
Also attacking Taiwan would logically result in the US nationalizing all Chinese assets here - a huge hit.
The reserve currency fear porn has gone on as long as the climate fear porn.
Looks more like intended consequences.
Chinese currency (the renminbi) does not even trade freely on international markets. It has a fixed exchange rate, and the quantity of Chinese currency available to trade is also controlled by the Chinese Communist Party.
Finally, the international financial markets are completely ignoring EVERY threat to the US Dollar.
As I write this, the US Dollar March Future Contract is trading at 99.05, less than one penny below par.
In the last eight months, the value of the US Dollar has increased by 10%, which is a significant increase for any major currency.
(another likely Lehman moment)
September, 2022? 🤔
Doubt it. I don’t think the world will rush to China’s arms after seeing them support the whackjob in Russia and his outrageous decisions.
The “demise” of the dollar as the global currency has been predicted many times before. It doesn’t happen. People trust us more than anyone else.
Not unintended, it’s intended.
Buy your silver coins, yo.