It is now established that the US dollar’s status as a global reserve currency is eroding. When corporate western media begins to attack the multipolar world’s de-dollarization narrative in earnest, you know the panic in Washington has fully set in.
The numbers: the dollar share of global reserves was 73 percent in 2001, 55 percent in 2021, and 47 percent in 2022. The key takeaway is that last year, the dollar share slid 10 times faster than the average in the past two decades.
Continue reading “De-Dollarization Kicks into High Gear- Pepe Escobar 4/27/23”
The announcement is seen as a decisive step towards de-dolarisation and an effort to safeguard Indian trade from the impact of Russia’s war in Ukraine and its subsequent fallout and sanctions.
India and Malaysia have agreed to settle trade in the Indian rupees, the Ministry of External Affairs announced on on April 1, 2023.
The announcement came in the backdrop of ongoing official efforts to Safeguard Indian trade from the impact of Ukraine crisis. The shift away from The U.S. dollar which has been the dominant reserve currency for international trade so far has added significance as it indicates India is willing to take concrete steps towards de-dollarisation of its international trade.
Continue reading “India, Malaysia Move Beyond Dollar to Settle Trade in INR – The Hindu 4/1/23”
There’s no sign of a slowdown in central bank gold buying.
In February, central bank gold reserves rose by another 52 tons, according to the latest data compiled by the World Gold Council.
It was the 11th straight month of central bank net gold purchases.
Continue reading “Central Bank Gold Buying Shows No Sign of Slowing Down – Schiff Gold 4/4/23”
For decades, the U.S. dollar was the undisputed king of global currencies, but now dramatic changes are happening. China, Russia, India, Brazil, Saudi Arabia and other nations are making really big moves which will enable them to become much less dependent on the U.S. dollar in the years ahead. This is really bad news for us, because having the primary reserve currency of the world has enabled us to enjoy a massively inflated standard of living. Once we lose that status, our lifestyles will be much different than they are today. Unfortunately, most Americans don’t understand any of this. Even though our leaders have treated the stability of our currency with utter contempt in recent years, most Americans just assume that the dollar will always reign supreme. Meanwhile, much of the planet is preparing for a future in which the U.S. dollar will be far less important than it is right now. The following are 7 signs that global de-dollarization has just shifted into overdrive…
Continue reading “Here Are 7 Signs That Global De-Dollarization Has Just Shifted Into Overdrive – Michael Snyder 4/2/23”
Every government policy has consequences – some intended and some unintended.
There is at least one serious unintended consequence of the economic sanctions levied against Russia after its invasion of Ukraine – an erosion of the US dollar dominance.
Reuters reports that recent oil deals between India and Russia have been settled in currencies other than dollars.
Continue reading “India’s Oil Deals With Russia Further Erodes Petrodollar Dominance – SchiffGold 3/8/23”