US Dollar Hegemony Tripped Up by Chinese Renminbi?

Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter Um, no. Central banks not enthusiastic about the renminbi. Global central banks are not dumping US-dollar-denominated assets from their foreign exchange reserves. They’re not dumping euro-denominated assets either. And they remain leery of the Chinese renminbi …

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This chart should scare you

From ZeroHedge: For the 29th month in a row, Americans’ annual spending grew faster than their incomes as the “no consequences” new normal rolls on, leaving the savings rate languishing near record lows – even if it did very modestly uptick in …

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