China, Japan to Back Direct Trade of Currencies

This is another nail in the coffin of USDollar hegemony.  The impact of the USDollar losing its global reserve currency status will be loss of purchasing power and lower standard of living for US citizens.  Need proof?  Look around.


http://www.bloomberg.com/news/2011-12-25/china-japan-to-promote-direct-trading-of-currencies-to-cut-company-costs.html