In this episode, we look at the recent talk that China is pushing for a new sovereign currency to replace the dollar as the global reserve currency. It is an advantage to the USA to hold control over the global reserve currency, at the expense of every other country. As China gains power, it is using its influence to try and get out from underneath the thumb of the US. In retaliation, there are rumors that the Trump Administration is considering defaulting on treasuries held by China. This would be economically disastrous and almost certainly trigger hyperinflation.
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https://www.reuters.com/article/us-china-gold-currency/shanghai-gold-boss-wants-super-sovereign-currency-for-post-crisis-times-idUSKCN22A1FY
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