Bloomberg (props yet again to Zerohedge); China makes a major move clearing the way for dropping the use of USD in international trade: Japan and China will promote direct trading of the yen and yuan without using dollars and will encourage the development of a market for companies involved in the exchanges, the Japanese government [...]
"The banks," of course, are the big, international, Congress-owning kind. Ten Minutes. A few highlights: "We criticized Japan for keeping alive zombie banks. We're pretty much doing the same in the West." "There's a grotesque misallocation of capital going on, away from the parts of the private sector that could use it, into parts, effectively, [...]
It's undeniable that modern economies run on energy and that oil is one of the more useful forms of energy. One of the principal values that still undergirds the value of the U.S. Dollar is the fact that the major Middle East nations still sell oil priced in Dollars. You might not know that Russia [...]
