The END Of The DOLLAR is HERE
The END Of The DOLLAR is HERE
The United States sits atop a horizontal empire, capitalism's self-organizing, incentive-based structure with its value layers. It isn't the Marxist nonsense of "to each according to his needs." You must earn your place. Consider the US dollar to be the thread or even duct tape that holds the layers together. Dollars account for about 60% of the $12.8 trillion in global currency reserves. Is America's "exorbitant privilege" of being the world's main reserve currency under threat? Should you even bother?
Russia has been bitten by sanctions. A large portion of its $630 billion in foreign reserves has been blocked. Yachts belonging to oligarchs have been seized. Visa, Mastercard, and American Express have all ceased operations in Russia. The failure of Apple and Google Pay left penniless passengers stranded on Moscow's subway. Voluntary sanctions are in effect, from Netflix to Nike.
Was it the appropriate decision to exclude Russia from the global banking system? Some critics believe that this is the beginning of the end for the dollar as the world's reserve currency because Russia will align with China and adopt the yuan or shift to cryptocurrencies. China may begin to dump dollars. In fact, China and Russia have significantly reduced their reliance on the dollar for bilateral trade since 2014.
The END Of The DOLLAR is HERE