China And Japan Dropping Dollar Cross Rate System, Will Transact Directly | ZeroHedge

While various three letter economic schools of thought continue sprouting left and right, in an attempt to validate endless spending predicated on one simple thing: transitory reserve currency status, and we emphasize transitory, reality moves on, oblivious of what economic theoreticians believe it should be doing. As Yomiuri Shimbun reported last night, China and Japan are set to launch direct currency trading, bypassing the dollar, and the associated benefits and risks, entirely.

via China And Japan Dropping Dollar Cross Rate System, Will Transact Directly | ZeroHedge.

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