The Dollar is a DEAD CURRENCY Walking
Channel: The Nomad Economist
Date: 19/12/2021

Dollar is DEAD CURRENCY Walking

The Department of Offense can and has attacked weak countries that dared to move away from the dollar, especially in oil trade. However, it has no power to challenge Russia and China. To the extent that Russia and China will use their military leverage to protect their investments overseas, The Dept of Offense doesn't even have sufficient resources to guarantee victory in a war against Iran. The dollar is already being replaced in various transactions around the globe. Trump has accelerated de-dollarization with his brainless trade wars. welcome to The Atlantis Report . 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 bilateral 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. Meanwhile, in Latin America, de-dollarization is spiking, and Venezuela has stopped accepting dollars for oil payments . This first step towards one or more gold-backed Eurasian currencies certainly looks like a viable and—for a lot of big players out there—welcome addition to the global money stock. Meanwhile, Venezuela illustrates the growing perception of US weakness. It used to be that a small country refusing to take dollars could expect regime change in short order. Now, maybe not so much. Combine all this with the emergence of Bitcoin and its kin as the preferred monetary asset of techies and libertarians, and the monetary world suddenly looks downright multi-polar. There is a steady decline in dollar reserves and it will continue until we hit the panic button with the Fed reaching zero and the West coordinating fiscal spending to fight recession. It is the resulting stagflation that will kill dollar dominance as nations and individuals seek alternative stores of value. Check the decline in global oil sales made with petrodollar.



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