9/20/2024

The USA is now terrified of de-dollarization

 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

1 comment:

  1. 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.

    Modi 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.

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