De-Dollarizations Explodes Globally-40 Countries Refuse to Use the Dollar
De-dollarization Explodes Globally! 40 Countries Refuse to Use the Dollar! ｜Reject US Dollar
Deepin Moments: 5-16-2023
U.S dollar is pegged to oil to become the world's only currency with devaluation risk hedging function, but if all the countries in the Middle East are no longer using the dollar for oil settlement, the dollar's dominance will suffer an unprecedented impact, and may even end the era of dollar hegemony.
Third, many countries to step up the transport back to gold.
The Bretton Woods system made the U.S. dollar the only currency pegged to gold, and the U.S. became the world's economic hegemon, depositing all the world's gold in its own banks.
But as the system collapsed, more and more countries wanted to ship back the gold for their own security. But the United States will not easily agree, for them, a large number of lost gold, also will affect the economic development of their own country.
Fourth, the construction of a new international settlement system. At present, the BRICS countries, led by China and Russia, have already started to intend to establish an international settlement system centered on other currencies, and other countries have also started to make preparations for this.
Take the BRICS countries as an example, both China and Russia are among the five permanent members of the United Nations, with relatively high international status and strong economic and military power.
Therefore, if the BRICS countries led by China and Russia take the lead in establishing a new international settlement system, it will definitely have a great impact on the dominance of the U.S. dollar and even affect the world economic market.
All these show the determination of the world countries to try to get rid of the influence of the dollar, and perhaps in the near future, the status of the dollar will no longer exist.