During the G20 meeting in Bali, Indonesia announced that their business with the US represented only 10% of their global business and their Central bank was instructed to figure out how to use national currencies for the remaining 90% of their reserves.
It's just a plan but when countries start seeing the light at the end of the tunnel, expect a tsunami!
Well found N, thank you, I missed this entirely (should have read the transcript!). Indeed, the US$ days are numbered but as Gerry points out, there is tremendous strength in the eurodollar market. So it's going to take some time unless a Black Swan arrives which i think is likely at some point.
Indonesia to DITCH the DOLLAR too!
During the G20 meeting in Bali, Indonesia announced that their business with the US represented only 10% of their global business and their Central bank was instructed to figure out how to use national currencies for the remaining 90% of their reserves.
It's just a plan but when countries start seeing the light at the end of the tunnel, expect a tsunami!
Well found N, thank you, I missed this entirely (should have read the transcript!). Indeed, the US$ days are numbered but as Gerry points out, there is tremendous strength in the eurodollar market. So it's going to take some time unless a Black Swan arrives which i think is likely at some point.