from The Daily Crux:
Bear with me…
Today’s Digest addresses what I believe is the core financial issue of our generation. These concerns are so important, they dwarf all other financial considerations.
Unfortunately, few journalists have any idea what these things mean. That means you likely haven’t heard of most of these things. So please… allow me a bit of basic reporting.
Last April… in a little-noticed move… Australia announced it was transferring 5% of its currency reserves from the U.S. dollar to the Chinese yuan. The deal was part of a broader currency agreement between the two countries that allows Australia’s leading banks to handle trade settlements between the two countries without the use of the U.S. dollar as a reserve currency.
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