Dedollarisation

Dedollarization is in progress, says Russian FM Lavrov

It's true, yet it's surprising that more people aren't discussing these global issues:

• China is dumping US Treasury bonds at a record scale.

• JPY is worst-performing currency among G10. Japan, one of the largest holders of US Treasuries, could stabilize its currency by selling bonds in the open market.

• The primary reason for the USD's demand, the Petro-Dollar agreement, whichrecently expired after 50 years.

• Major oil-producing countries, aside from Saudi Arabia, are showing interest in joining BRICS. Saudi Arabia is considering the both options.

• Central banks across the globe are increasingly accumulating precious metals(Gold & Silver)

• There is a rise in bilateral agreements between countries, focusing on trading with their own currencies.

• BRICS might launch their commodity based currency in upcoming BRICS summit in Oct 2024 at Russia.

• If Saudi Arabia joins BRICS, the alliance will control 42% of the global oil and gas sector.

This isn’t the first time the world has tried to move away from the USD. In the past, Africa and Europe attempted to dedollarize with their own currencies but ended up falling into the same trap.

Once BoJ starts dumping their T$, US is going to be in deep trouble. Things might change post US Presidential elections…!!!

#BRICS #NATO #Finance #Economy #GeoPolitics