Friday, December 13, 2024

Tag: De-dollarization is spreading and it’s not hard to see

De-dollarization is spreading and it’s not hard to see

from RT:

The major global economies are shifting and the clues are there for those who know where to look

De-dollarization is increasingly making headlines and signs of it are everywhere.

New sources of non-dollar finance are emerging. There are new bilateral agreements to trade and lend in currencies other than the US dollar. Even more importantly, major oil trade buyers and sellers – Moscow and Riyadh as much as Beijing and New Delhi – are agreeing to trade it in non-dollar currencies. These deals are destroying one of the main pillars of dollar dominance since OPEC quadrupled and then doubled oil prices in the 1970s, giving countries around the world a major reason to demand and hold dollars.