Replying to Avatar Lyn Alden

-China and Brazil agree to skip the dollar and exchange their own currencies directly.

-China uses yuan to settle LNG imports from the UAE, from the French supermajor Total.

-Saudi Arabia joins the Shanghai Cooperation Organization as a dialogue member.

-Saudi Aramco signs big refinery deals for construction in northern China.

It's been a pretty big few days for the anti-petrodollar crowd.
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Toby McMann 2y ago

Lyn, do i have this right and your thoughts please...

Fiat currency is just debt, issued upon on debt, issued upon debt, etc.

US Treasuries are the base layer, as the deepest and most liquid market.

If so, are we just one failed US Treasury auction away from a re-ordering of global power?

What are the scenarios, however improbable, that could cause it -- and how should the US be hedging?

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