People's Bank of China Opens Direct Currency Swaps with Dubai and the UAE

This is not a particularly large deal, but it is another sign of the continuing erosion of the ad hoc Bretton Woods II currency regime and a growing disorder in global banking. Change is not just coming, it's here.

The usual US public reponse is dismissive: 'where else will they put their money?'

But behind the scenes the US is working very hard on this, often in conjunction with the Banks