China Has Quietly Cut Dollar Usage In Cross-Border Trade By 20%

• China Has Quietly Cut Dollar Usage In Cross-Border Trade By 20%
  by Tyler Durden, https://www.zerohedge.com/
  The chorus calling for a weaker dollar is getting louder, and now includes none other than a stark warning from Goldman Sachs, which in a stunning shot across the bow of the modern monetary system warned overnight that U.S. monetary and fiscal policy (i.e., helicopter money a/k/a MMT) is triggering currency “debasement fears” and that for the first time “real concerns are emerging” about the future of the dollar as a reserve currency.
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  And while the DXY Index got a rare reprieve from the selling on Tuesday – despite Goldman’s ominous warning – gold continued marching higher, even as technical indicators show signs of near-record overextension.
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  As Bloomberg’s Ye Xie summarizes, “it seems like a perfect storm for the U.S. currency: the relentless decline of real yields, the U.S.’s inability to control the virus, the overhang of the twin deficits and the dear valuation.” Adding to reserve currency concerns, Bridgewater’s Ray Dalio – who is clearly talking either his or Beijing’s book although these days the two appear interchangeable – warned a Sino-U.S. “capital war” could harm the dollar.
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