The End Is Near For Dollar Hegemony
Submitted by gjohnsit on Tue, 12/26/2023 - 9:06pmSure, people have been predicting an end to King Dollar for many decades, but this time it might actually happen.
Sure, people have been predicting an end to King Dollar for many decades, but this time it might actually happen.
I'm not sure how much credibility to put into this, but a former CIA advisor says that U.S. dollar hegemony has only weeks left. I'd give more credibility to an economist.
The dollar had its worst week since November.
When future historians write the obituary on Dollar Hegemony, they will be certain to mention how it was a tragic case of suicide.
Last week I wrote a semi-serious essay concerning the reason for all the anti-China propaganda lately. I was surprised to see people internalize the question.
Your opposition to the rule or policies of the Communist Party of China is irrelevant to TPTB.
It's no secret that much of the world wants to break away from using the U.S. dollar for its overseas trade and financial transactions. It's also no secret that Russia and China have been working together and allocating considerable resources on this project for financial independence since 2009.
Less than a week ago I posted an essay about the rapidly approaching end of dollar hegemony, but I didn't spend much time talking about its implications. It turns out that I was only a couple days ahead of the curve. Far better writers than I, such as Chris Hedges, have explored the topic in the past couple days.
Back in October a European diplomat had a warning for Washington.
Last month, U.S. Commerce Secretary Wilbur Ross indicated his intention to insert a “poison pill” provision in a new Japan trade act to hinder it's trade with China and other countries under sanctions.
Just a decade the idea of an end of the global dollar standard was nothing more than a theoretical concept. Just two years ago it wasn't anything to worry about.
But today you see Bloomberg articles like this featured prominently.