> This is the strongest concerted effort to kill the petrodollar and Bretton Woods. It would have devasting impact to the US economy if this trend continues.
It's a 100 year long trend that started with the 1933 gold ban in US, later Bretton Woods, decreasing US global bond portfolio recently, and the Russian central bank asset freezing.
Personally I think that defaulting on Russia was a bigger deal than the Yuan bond trade, as it created a precedent for not paying for countries that US not even officially in war.
What's important is neighter to overreact nor underreact: this is a long process in which USD is losing its reserve currency status.
Personally I believe Bitcoin will be taking its place, but I know that that is a controversial statement.
It's a 100 year long trend that started with the 1933 gold ban in US, later Bretton Woods, decreasing US global bond portfolio recently, and the Russian central bank asset freezing.
Personally I think that defaulting on Russia was a bigger deal than the Yuan bond trade, as it created a precedent for not paying for countries that US not even officially in war.
What's important is neighter to overreact nor underreact: this is a long process in which USD is losing its reserve currency status.
Personally I believe Bitcoin will be taking its place, but I know that that is a controversial statement.