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CHARLES: FOLKS, MAJOR BREAKING NEWS. FOR THE FIRST TIME EVER, THE CHINESE YUAN IS OVERTAKEN THE U.S. DOLLAR AS CHINAS MOST USED CURRENCY FOR CROSS-BORDER TRANSACTIONS. JOINING ME NOW THE KOBIESSI LETTER, ADAM KOBEISSI. YOU TWEETED ABOUT IT A COUPLE DAYS AGO. WE TALKED ABOUT IT. HERE IS THE THING THAT BOTHERS ME WHEN IT COMES TO THE WHOLE DOLLAR THING, THE CAVALIER ATTITUDE. I GET A LOT OF GREAT PEOPLE ON THE SHOW, NO ONE ON WALL STREET SEEMS TO BE CONCERNED, NO ACADEMICS SEEM TO BE CONCERNED BUT THINGS ARE MOVING IN THE WRONG DIRECTION. I THINK IT IS INTERESTING. IT STARTED WITH THE WHOLE INFLATION SITUATION. WE HAVE 22 MONTHS OF FIVE PLUS INFLATION. THE FED STARTED, WHEN THEY LOWERED OVERNIGHT QUICKLY, THE SYSTEM STARTED TO QUESTION. WE SEE THE REGIONAL BANKING CRISIS SPILLING OVER. FIRST REPUBLIC BANK IS NOW UNDER PRESSURE. IT IS INTERESTING. 41%, IT IS THE FIRST TIME THIS HAS HAPPENED WITH CHINA. BUT I ALSO THINK YOU CANT, THE DOLLAR IS HERE TO STAY. IT IS STILL GOING TO BE THE