The major news that nobody cares about is China has now announced something we’ve been anticipating for quite some time, which is they are now going to be invoicing their oil imports in renminbi. This is another major step in China sidestepping the US dollar as the world’s reserve currency.
This means that China will have bilateral trading arrangements with Russia and the other major countries, such as Iran, that provide energy to China. So, again, this is another brick out of the wall for the US dollar and by the same token US hegemony.
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