The World is Dumping the $US Dollar

The US dollar is currently the world's dominant reserve currency, accounting for approximately 60% of the world's foreign exchange reserves. This means that many central banks and governments around the world hold US dollars as a form of backing for their own currencies.

However, there have been concerns in recent years about the US dollar's stability and long-term value, as the US government has accumulated significant debt and the Federal Reserve has engaged in policies to stimulate the economy through the printing of money.

As a result, some countries and international organizations have been exploring alternative currencies and methods of conducting international trade and finance, such as digital currencies and the use of other reserve currencies like the euro or Chinese yuan. However, it is important to note that the US dollar is still widely used and trusted in global transactions and financial markets.