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Luke Gromen discusses how China reopened the gold window in 3q14 with assistance from Russia, particularly through the use of CNY for oil transactions, without permission from Washington.
He highlights changes in the price of gold in CNY since the launch of the Shanghai Gold Exchange International board.
Gromen has previously argued that dollar dominance has prompted China to purchase U.S. defense assets as American investors face losses on Treasuries. He has also highlighted a divergence in U.S. rail traffic, with commodities shipments rising while intermodal volumes remain nearly flat. The author continues to track how these shifts affect global markets.