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The End of the Dollar….

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Greg P
Greg P
Posted underBRICSChinaCurrenciesDEBTDedollarizationIndiaPatrick BoylePeter ZeihanRussiaStraight Arrow News
Geopolitical strategist Peter Zeihan discusses the concept of de-dollarization and its potential risks for the US dollar. He dismisses the idea that countries like Brazil, Russia, India, and China (BRICS) will pose a significant threat to the dollar’s status as the dominant reserve currency. Zeihan points out that previous attempts at de-dollarization have never amounted to anything significant, and the decrease in the dollar’s share as a reserve currency is more due to the decline of the euro. He also highlights the power of the dollar as a tool of control through financial sanctions. While de-dollarization is a topic of discussion, Zeihan believes the US dollar’s status is unlikely to be significantly affected in the near future.

Econ Professor and Portfolio Manager Patrick Boyle thinks a common currency for the BRICS nations is unlikely to happen anytime soon because China would not want to give up control to become a reserve currency, and India would not want to give power to China. In addition, all BRICS countries aim to run Surplus economies, increasing dependence on China and creating a flawed common currency. Therefore, diversification of reserves and adoption of alternative solutions, such as buying commodities, may not be successful due to the US dollar’s global dominance.

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