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"The escalation of military tensions between Washington and Beijing in the East China Sea is superficially over China's unilateral declaration of an air defense zone. But the real reason for Washington's ire is the recent Chinese announcement that it is planning to reduce its holdings of the US dollar," he wrote.Cunningham said China "move to offload some of its 3.5 trillion in US dollar reserves" poses "a mortal threat to the American petrodollar and the entire American economy."
"China - the second biggest economy in the world and a top importer of oil - has or is seeking oil trading arrangements with its major suppliers, including Russia, Saudi Arabia, Iran and Venezuela, which will involve the exchange of national currencies," he wrote, warning that the development threatens "the petrodollar and its global reserve status."
Comment: What if speaking the truth is paramount to a request to be fired from a position where one has ready access to the minds of the populace? What if, no matter how outraged, the public opinion on what they want to hear from their televisions is ignored or forcibly silenced? What if, what if, what if?