De-Dollarization Accelerates: Is The US Dollar In Trouble? | The Gold Spot
A few decades ago, the world decided to embark on the largest monetary experiment by abandoning the gold standard and ushering in an era of fiat-backed economies.
Up until recently, the US economy performed superbly in this new structure with the dollar’s position as the world reserve currency. However, the time of dollar dominance is coming to a screeching halt as the trend of de-dollarization is in full swing.
Countries around the world are eagerly decoupling and disassociating their economies from the dollar. The trend of de-dollarization has been in motion for years, but the US banking crisis drastically accelerated it.
Our failed economic policies at home are largely to blame as countries start to view the green back as a risk rather than an economic boost. This failure is only exacerbated by China’s proactive efforts to fill the void the US has left on the world stage.
By brokering historic peace deals in the Middle East and offering financial support to various countries, the CCP has been able to further its economic interests. Just a week ago, China made its first purchase of liquid natural gas in its domestic currency, beckoning the Petroyuan.
In poetic fashion, it’s the abject failures of the fiat experiment that are forcing people back into the protection of gold, silver, and other hard assets. All the new surrounding de-dollarization was the all-clear signal gold prices needed to bust out of a 15-year holding pattern.
Watch this week’s The Gold Spot to hear Scottsdale Bullion & Coin Precious Metals Advisor Joe Elkjer & Sr. Precious Metals Advisor Damian White discuss the accelerating de-dollarization process, what happens if the dollar collapses, and where this leaves investors.
👉 Related Links:
🛢️ READ MORE: https://www.sbcgold.com/blog/de-dollarization-rapidly-accelerates/
📰 Related News:
🔗 China’s Attack on Petrodollar Dominance Reaches New Height: https://www.sbcgold.com/blog/chinas-attack-on-petrodollar-dominance-reaches-new-height/
🔗 Saudi Arabia and Iran Agree to Restore Ties, in Talks Hosted by China: https://www.nytimes.com/2023/03/10/world/middleeast/saudi-arabia-iran-reestablish-ties.html
🔗 Brazil, China Strike Trade Deal Agreement To Ditch US Dollar: https://www.barrons.com/news/china-brazil-strike-deal-to-ditch-dollar-for-trade-8ed4e799
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