FT reports that the Federal Reserve entered into currency swap agreements enabling US banks to have more access to four foreign currencies.  In addition, FT notes that (emphasis is ours):

“The Fed has already authorised these four central banks to borrow unlimited amounts of dollars from it to meet the dollar funding needs of their local banks.”

Obviously, when a foriegn central bank sells debt obligations to the Fed, it is possible for the Fed to pay for those securities with “newly printed” money.  So…this is a great way to get more fiat dollars into circulation in the world without US banks first having to lend them.  Could it be that there will now be a “run on the dollar” engineered by the PPT to take big advantage of this?