The Greatest Depression continues around the world: The People’s (central) Bank of China announces that it will no longer rely solely upon the “dollar” as the financial reserve for its fiat (Latin for “Let it become”) currency, the Renimbi.  Instead the PBC will include the “dollar” in a “basket” of other fiat currencies: More worthless paper backing worthless paper.  Timothy F. “Turbotax” Geithner, secretary of the treasury, comments on the decision saying,

       We welcome China’s decision to increase the flexibility of its exchange rate. Vigorous implementation would make a positive contribution to strong and balanced global growth. We look forward to continuing our work with China in the G20 and bilaterally to strengthen the recovery.

       Question: Does Geithner have any idea that the PBC will be buying less United states government debt, not more?  It is going to be even harder now for him to sell an additional 300,000,000,000 “dollars” worth of Federal debt obligations every month to finance the ever growing U.s. national debt.

       [added 6/18/2021] Thanks to Freedom’s Phoenix for this entry.