The U.S. dollar saw an 8% decline in its share of global reserves in 2022 — causing some to question whether the dollar’s days of dominance are over.
Treasury Secretary Janet Yellen gave her two cents on the matter of so-called “de-dollarization” during a congressional hearing on Tuesday — stating that no currency currently exists that could displace the greenback.
https://moneywise.com/managing-money/retirement-planning/janey-yellen-decline-USD-reserve-currency
At the 14th BRICS Summit last year, Russian President Vladimir Putin announced measures to create a new “international currency standard.”
Meanwhile, China has been urging oil producers and major exporters to accept yuan for payments, and major oil exporter Saudi Arabia has said it’s “open” to the idea of trading other currencies.
They know the crash is coming.
Prepare accordingly.
h/t Patagonians