Whether by design or folly, President Donald Trump's US Treasury has again dangerously tightened the supply of US hard currency to global central banks and, in so doing, supplied the tinderbox for the next global markets crisis.

Every markets crisis since 1881 has been sparked by an acute contraction in the supply of credit and since 1944, global credit markets have inextricably been linked by a requirement of central banks to retain US dollar hard currency reserves.