I enjoyed Mishes appearance on the Greg Hunter you tube channel where a lot of this ground was skimmed over.

The large gap in the analysis I think is the Yuan and Chinese Central Bank´s holding of more than 3.5 trillion in foreign currency reserves, mainly dollars.
At the bottom of US domestic problems with the Economy is the international aspects of US Dollar Hegemony and that Exhorbitant priveliges (free lunch) but also re bound potential.
The chairman of Bank of China wrote this essay in 2009 and also some analysis by Schenk et-al, looked at the British retreat from World reserve currency status.
North Korea has to be looked at in terms of the US China Axis, the tension between North and south Korea is a convienient pre text for the projection of US power in the region and this has everything to do with US China Relations and very little to do with North and south Korea, the Cold War aspects of the Korean War have reflections all be it pale ones, of the wish of Neo Cons and Hawkish Democrats to demonise Russia.why do they do that? could it be that what is good for the Military Industrial Complex is bad for civilian business but, the Military Industrial Complex is all that is left that might be called industry in North America?
http://www.bis.org/review/r090402c.pdf
Zhou Xiaochuan: Reform the international monetary system
Essay by Dr Zhou Xiaochuan, Governor of the People’s Bank of China, 23 March 2009.
* * *
The outbreak of the current crisis and its spillover in the world have confronted us with a
long-existing but still unanswered question, i.e., what kind of international reserve currency
do we need to secure global financial stability and facilitate world economic growth, which
was one of the purposes for establishing the IMF? There were various institutional
arrangements in an attempt to find a solution, including the Silver Standard, the Gold
Standard, the Gold Exchange Standard and the Bretton Woods system. The above question,
however, as the ongoing financial crisis demonstr
ates, is far from being solved, and has
become even more severe due to the inherent weaknesses of the current international
monetary system.
2. A super-sovereign reserve currency not only eliminates the inherent risks of creditbased
sovereign currency, but also makes it possible to manage global liquidity.
http://www.bis.org/publ/work444.pdf
Reforming the international monetary system in the
1970s and 2000s: would an SDR substitution
account have worked?
Robert N McCauley and Catherine R Schenk
1
Abstract
This paper analyses the discussion of a
substitution account
in the 1970s and how
the account might have performed had it
been agreed in 1980. The substitution
account would have allowed central banks to
diversify away from
the dollar into the
IMF’s Special Drawing Right (SDR), compris
ed of US dollar, Deutsche mark, French
franc (later euro), Japanese yen and British pound, through transactions conducted
off the market. The a
ccount’s dollar assets could fall short of the value of its SDR
liabilities, and hedging would have defeated
the purpose of preventing dollar sales.
In the event, negotiators were unable to
agree on how to distribute the open-ended
cost of covering any shortfall if the dolla
r’s depreciation were to exceed the value of
any cumulative interest rate premium on the dollar. As it turned out, the
substitution account would
have encountered solvency pr
oblems had the US dollar
return been based on US Treasury bill yields, even if a substantial fraction of the
IMF’s gold had been devoted to meet the sh
ortfall at recent, high prices for gold.
However, had the US dollar return been
based on US Treasury bond yields, the
substitution account would have been so
lvent even without any gold backing.

The Bank of China made some statements along these 2009 lines again last week. Since then (2009)  the BRICS development bank has Launced and China Russia trade ties and trade done in Kind or with Gold and not Dollars is a reality. This sub text is there in All of the new Milleniums Wars, civil wars and the current crop of conflicts both Hot and Cold. As Mac Nammara famously said at the time of the Oil Shock and the Nixon Gold Window Shock, `Ìts our Currency but your problem“
On Free Trade, In the Hunter Interview Mish states his Free Trader credentials and assumption that Greg shares those views. To have Free Trade Free markets are a necessary condition and for free Markets one needs honest money. We do not have honest money, we do not have free markets and Free Trade is not a possibility in the current Regime of Global Governance.
With the impending crash it is obvious in the grand scheme of things that it is both avaoidable and necessary at the same time, more than ever “its the Geo Political not the Economy stupid”, to paraphrase that other Clinton.

The `Market`is a community of people, not god! reified imaginary concepts are always a short cut to because God or because markets appeals to authority.

If anyone else here remembers the cold war sport of Kremlin Watching, what is the equivalent for the command and control economy of the USA today, Who really runs the Fed? Look at its share holders and those people are the Ephors of Debt as Schumpeter called them.
http://theconquestofdough.weebly.com/ancient-law-codes-agrarian-law.html
Long Story Short.
https://www.forbes.com/sites/ralphbenko/2017/02/25/president-trump-replace-the-dollar-with-gold-as-the-global-currency-to-make-america-great-again/#72622a074d54
President Trumps´ greatest Challenge is grasping the Dollar reserve currency nettle, The Establishment showed it did not have the courage in 2008. The Establishment still lacks the courage. Meanwhile the whole system is atrophied through the slow strangualtion of the world economy due to the Debt based dollar reserve standard.