From the vierwpoint of the Swamp, this is Southwest internal trade

Cowen found this:

About 40 percent of the value of U.S. goods imports from Mexico was made up of goods originally exported from the U.S. to Mexico, four economists (three of them then employed at the U.S. International Trade Commission) found in 2010. The equivalent figure for imports from China was just 4.2 percent. In a 2014 report for the Peterson Institute for International Economics, Georgetown University’s Theodore Moran and Lindsay Oldenski found that a 10 percent increase in employment at the Mexican subsidiaries of U.S. corporations led to a 1.3 percent increase in employment and 4.1 percent increase in research and development spending back home.

I call this broad category of trade as internal, it make two stops in the SouthWest between the three big down here.  This trade is in the balance sheets as labeled accounts, it is part of our terms of trade, firmly built in.  This means central banking won't work, but standard currency banking will.  Remember our model? central banking equals currency banking cross magic walrus.  We have to remove magic walrus from central banking.