The cognoscenti and the literati have concerns if the USD$ can hold its position as the reserve currency of the world.
In anticipation of THE DAY when the USD$ cannot hold to this role, Russia agreed to trade with China with her currency whilst accepting that of China's. By this agreement, the USD$ was sidelined. This is known as a currency swap.
This currency swapping has been increasing in strength. It was to include Australia and the more recently France and then even more recently:
This is building up to be a tsunami. When it crests . . . will that be THE DAY?
If it is, there will be humungous consequences for America and her eternal faithful poodle, Canada!
In this, I have already written to our PM to do a currency swap with China and along with it buy her top stealth fighter in place of our problematical aging jet fighter for our defence purposes and for his aggressive interventionistic plans for Canada.
Currency swaps are by a treaties; and it is up to a certain amount. And the Chinese have arranged it so that, if in the swap China allows you CNYuan50 billions, then when the life of the swap is done, you have to return the CYYuan50 billion back to China.
As they say, nothing is for free.
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