US Dollar’s King Status at Turning Point: De-Dollarization Accelerates
• Jeffrey Tucker, author and publisher for the Mises Institute, says we are at a turning point for the U.S. Dollar due to de-dollarization trends.
• De-dollarization is being caused by attacks and sanctions imposed by the U.S., resulting in less trust in the USD globally, even among BRICS countries.
• The domestic effects of de-dollarization can be seen through increased inflation, which can restrain the Federal Reserve’s power.
De-Dollarization: A Turning Point for US Dollar
What is De-Dollarization?
De-dollarization is an emerging trend that marks a shift away from relying on the United States Dollar (USD) as a global currency reserve. This trend has been accelerated by recent attacks and sanctions from the US government on other nations, diminishing trust in the USD among many countries worldwide, including members of BRICS (Brazil, Russia, India, China and South Africa).
The Effects of De-Dollarization
Commenting on this development in an interview with NTD News on Wednesday, Jeffrey Tucker – author and publisher who worked for former U.S. Representative Ron Paul and the Mises Institute – said “the dollar’s just not going to be king” anymore due to these events marking “the turning point for the dollar.“ The most noticeable effect domestically is likely to be increasing inflationary pressure which could restrict Federal Reserve’s power significantly over time.
A Growing Global Trend
It appears that a number of countries have already begun moving away from using USD as their primary reserve currency in response to these developments over recent years; countries such as China have been diversifying their foreign exchange reserves away from dollars since 2009 while Russia has recently stopped holding US Treasury bonds altogether. Other nations are expected to follow suit soon which will further contribute towards de-dollarizing global markets at large scale.
Implications for Americans
For American citizens living domestically, rising inflation might cause some difficulty but there won’t be any major changes until larger international currencies begin challenging USD’s dominance worldwide or if more nations start rejecting US debt altogether in favor of other currencies which could drastically alter current economic conditions within US borders too.
To conclude, it looks like de-dollarization is happening rapidly around world and this change will only accelerate further due to recent political decisions taken by US government itself so Americans should prepare themselves accordingly for potential economic shocks that may come down line as result this trend gaining wider acceptance over time with new alternative currencies becoming increasingly popular choice globally than ever before..