I've always maintained that china making any move to weaken the US dollar was like shooting themselves in the foot, but what do I know...
So branding her with the ‘Made in China’ label would be even more apropos. China made her and now she defines their label.
Thompson/Hunter 08 or Hunter/Thompson 08. Either way works for me.
What doesn’t get explained, is that all the hundreds of billions of dollars the Chinese (and anyone else for that matter) hold is not located in China at all. It is located in the sub-accounts of the US bank with which the Chinese maintain a correspondent banking relationship with. So, all this money that we are being scolded to fret about really resides in the US, and in fact it really resides in the Federal Reserve itself.
The instant the Chinese were to act to destroy the US dollar, the Federal Reserve and the US Treasury have all the statutory and regulatory authority they need to stop the dumping of US dollars. At the very least, they could seize the funds before their disposal.
But that is not what happened. It is just imprudent for any nation to hold such a high percent of its foreign currency reserves in US dollars. The fiat-money, central-bank monetary system presently in use is made more robust and stable when a nation like China reallocates its assets into a market basket of diverse currencies.
The US Dollar may have dropped in part due to this reallocation. Once accomplished, the dollar will not be under that selling pressure again.