By Eric Peters, CIO of One River Asset Management

“In the future, the global monetary system may continue to evolve towards a pattern in which a few sovereign currencies coexist, compete with each other, and check and balance each other,” said China’s central bank governor, Pan Gongsheng, pitching you guessed what.

“When geopolitical conflicts, national security interests or even wars occur, the international dominant currency is easily instrumentalized and weaponized,” continued Pan, his nation racing to reduce the monetary consequences of a future conflict over Taiwan.