wonder how fast they are going to go about unloading the US$ reserves.
Could be ugly for the value of a dollar.
Well, no – your understanding of cause and effect is backwards. Chinese investors are ditching the dollar because the value of the dollar is already ugly.
They know that the fed is just printing paper which has no value. It is better for them to divest their dollars now while they still can.
While I agree that the Chinese are dumping dollars (East Asians are the smartest ethnic group on the planet), they have an internal contradiction: they have a command structure at the top and a free market economy below. As members of the free market accumulate wealth and therefore power, the Communists can either cede power, or crush the upstarts. Which does anyone here think will happen?
I suspect that they will have some sort of revolution there and that will be that. In fact, if you were American and powerful, would it be out of the bounds of logic to CAUSE such a revolution there? It happened in Russia in the early 20th century (to prevent Russian econ development).
British and American elites are destined to rule the world.
I can’t even begin to speculate which direction it will go. What if Marx was right about communism eventually resulting in a spontaneous melting away of government?