The end of the US dollar
1 year ago
3
For decades, the dollar enjoyed its unique status with the tacit consent of the world.
Its value remained relatively stable because the U.S. economy has been growing steadily, unaffected by the turmoil in other parts of the world.
Oil prices, denominated in a stable currency, for their part decreased fluctuations in the market.
The rising powers like China and anti-American governments like Venezuela urged to review the petrodollar system.
But the de-dollarization was limited to a number of symbolic moves, up until now.
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