hk is simply dollarized, as was china, as effectively is japan, with no fear implied, just is
now, hk is still dollarized, as ecudor is also
china is simply 'basketized', as gold implicitly is
what's the fraud?
it is exactly as a big mac is FIXED to the dollar, and as it threatens to rise or drop against the dollar, more or less big macs are served, to maintain the peg
the dollar authority wanted the dollar to be the international reserve currency, and so it is, as the officialdom wished, and as reserve currency, it ought to be the standard of measure, unyielding, else fraudulent, which it had been in any case over the last 100- years
the fraud, if any, is the dollar, not the rmb, for the rmb is just and merely a derivative of the dollar
as for your 24 hours per day, yes, except at each and every moment the balance is shifting, and rebalancing, for that is what bilateral and trilateral and multilateral relationships entail
as to how exactly a euro denominated oil market can work, i am not sure, because they as in THEY can simply convert the USD oil price and settle in Euro, or it is a genuine euro-oil market as in euro-denominated oil can be, at any given fraction of a moment per specific contract be at a different price as a usd-denominate trade in the same moment, with the two currency exchange rate as indicated in London implying a (however slightly) different euro-usd rate. see? and the trading action will of course feed back to the forex market, leaving all to determine rapidly which of the three (usd, euro, oil) has control |
