David Frum

@davidfrum ↗

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Last Checked March 2, 2022

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Sun Feb 27 17:36:45 +0000 2022

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David Frum @davidfrum

For China to central bank without huge reserves of dollars/Euros/pounds implies finding some way for China to operate its economy without massive exporting. But to do THAT would involve freeing their domestic economy from control by the Communist Party. 11/x — PolitiTweet.org

Posted Feb. 27, 2022

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David Frum @davidfrum

Russia's foreign holdings of $630 billion are dwarfed by China's holdings: $3.25 TRILLION. China is struck with those holdings, because any use of them would lower the value of the dollar/Euro, raise the value of Chinese currency - and cut into China's exporting. 10/x — PolitiTweet.org

Posted Feb. 27, 2022

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David Frum @davidfrum

If an authoritarian regime wants a currency that enables its people to buy things, they need a currency that is generally convertible. That means placing their head in the Federal Reserve/ECB noose. And if they want to export a lot to rich countries - they're extra noosed. 12/x — PolitiTweet.org

Posted Feb. 27, 2022