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Wheeeeeeeee it’s another step away from the USD as the global reserve currency! But I guess we don’t care about soft power anymore, despite the fact that being the global reserve currency is literally the only thing that lets the government write checks that can’t cash 🫠
It's worth considering setting up payment for various commodities in other currencies as well. Obviously the buyer and the seller have to agree, but it's not a far stretch from accepting payment in Renminbi to also having parts of the trades done in more reliable and importantly freely traded currencies like the Swiss Franc, to name just one example.