Trump is actually helping to kill the USA using slow motion demolition. He is unknowingly accelerating the de-dollarization movement with his efforts to monopolize and use energy sanctions against countries, whether for exporting oil and gas or importing them.
But do not be mistaken that the fall of the USA or the US$ will be quick and sudden. The US$ has been woven deeply into the Global financial system and it takes time to pull out the roots for it to be rendered just another alternative like the British Pound. It will happen nonetheless, and it is only a question of time.
The sanctions against Iran and Venezuela have pushed these two countries to deal in oil exports outside the US$, although Venezuela is now being taken over, or so it seems. The energy sanction against Russia follows the same pattern, with Russia now selling oil to China and India all done outside the purview of the US$ vis SWIFT. Moreover, Middle East oil exporters are also doing some oil trade outside the US$ as well. These are not trade deals done in pennies and has taken a big bite away from the use of the US$. The above countries no longer need to keep reserves in US$ as to them, that is more like keeping banana notes which they cannot use. Which is why the US$ usage has fallen substantially over the last few decades.
Of course, the USA and the West can continue to hype up the narrative that BRICS is just a to-fu set up of no significance and will collapse sooner or later. Let them be lulled into another false sense of security. The USA and the West still control the propaganda machinery of the world and countering that is not easy, but social media is helping and travel opening is providing real-time countering measures.
Anonymous
No comments:
Post a Comment