The USA is now, under the surface, terrified of
de-dollarization. That is why Trump is admitting that the inevitable is
going to happen, whether he likes it or not by threatening countries
joining in the de-dollarization wagon.
Actually, the USA had
been playing down de-dollarization threat, snug in the believe that it
would not succeed with the US$ and SWIFT entrenched in the global
financial system, but the reality is not in its favor. That is why it is
nervous and paranoid. Biden would not want and avoided talking about
the effect of de-dollarization, preferring to kick the can further down
the road for the next leader to handle. Trump will have to handle it if
he wins in November, which is why he is raising the issue and using
threats to cow countries joining the de-dollarization move.
And
to put it bluntly, the USA is quietly watching to see if the BRICS
global currency and settlement system is going to work. The reality is
that Russia, China and the rest of BRICS are going all out to make it
work, and this is sending the USA into a furious attempt to counter it
by using threats. It will not work.
Anonymous
De-dollarization may not be fast and furious at present. But expect a tsunami once the BRICS global currency and settlement system takes off. The BRICS summit in Kazan, Russia should tell us more about the progress being made.
ReplyDeleteModi is having a meeting in Washington with the emperor, taking instructions on what to do in Kazan, Russia. Quite coincidental that he is now in Washington just a month away from the BRICS summit. I smell a rat.
Expect Modi to go against the flow of the tide in Kazan. That is my bet.