America is three years away from her 250th birthday. A tarnished nation, sometimes stumbling and grasping for a handle, we still haven’t lost our focus on the future.
Can the U.S. government and its allies prevent a determined group of countries from de-dollarizing and significantly hurting the U.S. economy in the process? How would de-dollarization be affected if the unthinkable happens and Russia wins in Ukraine?
The new debt-ceiling deal has its merits, but it also kicks the big spending reform can down the road. It also ignores the broader threat to the U.S. economy: de-dollarization. On that front, there is one event that could end dollar hegemony with one stroke of the pen.
Argentina, which has Ibero-America’s third-largest economy, is the latest of many key geopolitical actors to take steps to reduce its dependence on the U.S. dollar.
The apparent deterioration in US-Saudi relations comes amid a recent worldwide trend toward de-dollarization with key, ascendent geopolitical actors, including but not limited to China, Russia, India, and Brazil all taking steps to reduce their use of the U.S. dollar.
