- For what seems like decades, other countries have been tiptoeing away from their dependence on the US dollar.
- China, Russia, and India have cut deals in which they agree to accept each others’ currencies for bi-lateral trade while Europe, obviously, designed the euro to be a reserve asset and international medium of exchange.
- These were challenges to the dollar’s dominance, but they weren’t mortal threats.
- What’s happening lately, however, is a lot more serious.
- It even has an ominous-sounding name: de-dollarization. Here’s an excerpt from a much longer article by “strategic risk consultant” F. William Engdahl:
Read more at:Suddenly, “De-Dollarization” Is A Thing