What does that mean?

baggachipz 4 hours ago | parent | next [-]

It means that nations are beginning to abandon (or at least hedge against) the dollar as the world's currency, due to the host nation's instability and global political situation. "Great Again", indeed.

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tgv 3 hours ago | parent [-]

Idk why you say so, but the Deutsche Bank is not a national bank.

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pocksuppet 3 hours ago | parent [-]

they didn't say it was

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tgv 2 hours ago | parent [-]

The use of "nations" in that comment is not clear nor substantiated, not in the comment itself, nor in the article. So just to be clear that DB is not tied to a nation, even though the name suggests it is.

	▲	nairboon 5 minutes ago \| parent \| next [-]
		Do you also make this clarification whenever Bank of America is mentioned, such that no one is confusing it with the FED?
	▲	baggachipz 2 hours ago \| parent \| prev [-]
		And do nations use Deutsche Bank's services?

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AureliusMA 4 hours ago | parent | prev | next [-]

Layman here, from what I understand this is a major news : it means China is allowing a foreign corporation (european commercial bank) to offer Yuan currency services to clients. Given how tight of a currency control policy the CCP has, it’s quite surprising that they would let a foreign based company into their currency dealings.

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zipy124 2 hours ago | parent | prev | next [-]

Basically before if Deutsche bank wanted to pay a Chinese bank, it had to use some intermediary like Bank of China Frankfurt. Now it can settle with the chinese-mainland bank directly.

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ForHackernews 4 hours ago | parent | prev | next [-]

It means you can settle an international transaction in CNY with Deutsche Bank. Imagine a European lender financing a project in Nigeria that involves purchasing a lot of infrastructure from China.

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rvz 4 hours ago | parent | prev [-]

It means the dollar is dying.

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glimshe 4 hours ago | parent [-]

People have been saying the dollar is dying since the 19th century. They said it again during the Great Depression, the end of Bretton Woods and the 2008 Financial crisis..

	▲	nairboon 2 minutes ago \| parent \| next [-]
		Look at a 100 year purchasing power chart of USD, doesn't look very healthy...
	▲	Moldoteck 3 hours ago \| parent \| prev \| next [-]
		US dollar value was held by several pillars, among which- pax americana, petro dollar/assets and innovation sector. Pax americana is dismantled by US itself. Petro chemicals are threatened by ren transition and China. Tech sector still ensures having a lead in innovations. Guess what'll happen when/if pax americana will be fully dead, most important economies like EU/China/India will be able to supply own needs with less petrol products since the rest will com from ren and when/if tech AI pops/turns into a fiasco. Nothing lasts forever and US dollar is no exception
	▲	hk__2 3 hours ago \| parent \| prev \| next [-]
		Those people were right, it’s just that it will take more time that what they though.
	▲	YesThatTom2 4 hours ago \| parent \| prev [-]
		The difference is now the US has a leader that is actively encouraging its downfall.