The only thing that lets this farce continue is the US dollar reserve currency status. The day that ends is the day the entire rotten structure comes crashing down.
Russia and China are working to demolish that structure. They have already established new mechanisms to circumvent the dollar.
CHINA APPEARS READY TO DUMP ITS U.S. TREASURY BONDS
Although investors hang on every comment by Federal Reserve Chairwoman Janet Yellen to get insight on the direction of interest rates and what it means for the economy and asset prices, the real power to determine U.S. interest rates may be in the hands of China, according to Lombard Street Research. Facing an overvalued currency that is hurting corporate profits and slowing growth, China appears ready to dump its $1.3 trillion in U.S. Treasury bonds to drive U.S. interest rates up and strengthen the dollar.