Tag Archives: dedollarisation

De-dollarisation: Russia and Saudi Arabia Continue to Ditch the Dollar

De-dollarisation is something I have been writing about for a long time. Two recent events are another nail in the coffin for the dollar, and by extension, US hegemony.

The first event was Russia’s main stock exchange halting the dollar and euro trades. The second is Saudi Arabia not renewing the Petrodollar Agreement. Let’s delve into this a bit more.

De-dollarisation, the process of reducing reliance on the US dollar in international trade and finance, can have significant implications for the US economy and global financial stability. Two recent events underscore this trend and offer insight into the potential future of the US dollar and its influence on global markets.… Click here to continue reading this article

De-dollarization Picks up Pace Amid Bigger Yuan Role

Since the start of 2023, many “de-dollarization” events have taken place.

Russia and Iran jointly announced the launch of cryptocurrencies for international trade. Saudi Arabia gave approval for selling oil in currencies other than the US dollar. Argentina and Brazil planned to establish common currencies. Brazil and China agreed to stop using the US dollar as an intermediate currency.

The term “de-dollarization” has become worthy of some real focus, especially at a time when the globalization of the Chinese renminbi is on an uptrend.

Heating up

There are two key short-term reasons why de-dollarization has picked up pace.… Click here to continue reading this article

Dedollarisation is Really Happening Now.

I’ve written about Dedollarisation a few times in the past. A lot of people thought it nonsense and imagined the US dollar couldn’t be reduced in influence.

I wrote this article in 2015: Two for the Price of One: De-dollarise and Reduce American Hegemony. I correctly predicted that the US would have to be carefully handled during dedollarisation and it would go down kicking, screaming and lashing out and quite likely start a war while it was doing so. I was correct in that and the conflict the US ignited in Ukraine is testimony to that.… Click here to continue reading this article

Dedollarisation and Reducing Dollar Hegemony Following the Russian Military Operation in Ukraine

We’ve been writing about dedollarisation here for some time.

Russia and much of the world have been seeking to dedollarise for a while. In the wake of the Russian military operation in Ukraine, one of the outcomes of countersanctions by Russia against the US and the rest of the west is them being forced to use the Russian Rouble to buy oil and gas.

This does something Russia has wanted to do for a while: reduce US dollar hegemony.

When it comes to what we often call dollar hegemony one can get all technical (and often wrong) or we can make things much more simple.… Click here to continue reading this article

More American Aggression: The War Against the Turkish Lira

Why is the war raging against the Turkish lira?

More accurately what is going on can be described as a battle against the Turkish lira as part of a war to protect the position of the U.S. dollar.

With a huge proportion of external debt denominated in dollars; some $300 billion in private as opposed to government debt amounting to about 50% of Turkish GDP, Turkey is an easy target. That the U.S. has a political beef with Turkey is merely a bonus.

Remembering that, for the United States, maintaining the position of the dollar as a reserve currency is key to the survival of the country, this war is very important.… Click here to continue reading this article

The Global De-dollarization and the US Policies

This article first appeared at Journalneo.org.

In its quest for world domination, which the White House has been pursuing for more than a century, it relied on two primary tools: the US dollar and military might. In order to prevent Washington from establishing complete global hegemony, certain countries have recently been revising their positions towards these two elements by developing alternative military alliances and by breaking with their dependence on the US dollar.

Until the mid-twentieth century, the gold standard was the dominant monetary system, based on a fixed quantity of gold reserves stocked in national banks, which limited lending.… Click here to continue reading this article

Two for the Price of One: De-dollarise and Reduce American Hegemony.

Two for the Price of One: De-dollarise and Reduce American Hegemony.

As America’s influence in the world slowly declines, the de-dollarisation that goes along with it will benefit Russia and the rest of the world.

Russia has made no secret of the fact that it would like to see the rouble more widely used, and a reduction in the use of US dollars.

Putin and Medvedev have many times referred to a desire to see the rouble as a reserve currency. In order for this to become more of a reality, Moscow needs to continue its development as a regional financial hub.… Click here to continue reading this article