By “Punishing” France, The US Just Accelerated The Demise Of The Dollar
Not even we anticipated this particular “unintended consequence” as a result of the US multi-billion dollar fine on BNP (which France took very much to heart). Moments ago, in a lengthy interview given to French magazine Investir, none other than the governor of the French National Bank Christian Noyer and member of the ECB’s governing board, said this stunner at the very end, via Bloomberg:
- NOYER: BNP CASE WILL ENCOURAGE ‘DIVERSIFICATION’ FROM DOLLAR
South Korea Agrees Won-Yuan Trading Link, RQFII Quota With China
South Korea and China will introduce direct trading between the won and the yuan in Seoul and promote greater use of the Chinese currency under agreements reached today during talks between the two nations’ leaders.
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