Member-only story
Even the IMF is Talking About the Decline of the USD
Their report ‘The Stealth Erosion of Dollar Dominance’ is not an exciting read but highlights a crazy important trend
There’s a ton of talk these days about the dollar, debt, sanctions, the SWIFT system, rubles, the yuan, and the petrodollar. The shake-ups that are occurring after the Ukraine invasion will have repercussions and ripple effects that’ll be felt well into the future. We’re surely living through a pivot point in global geopolitics.
By now, everybody knows that the USD is the global reserve currency and that gives the US special monetary privileges and undue influence in global economics. Most also know that breaking the dollar’s supremacy would usher in a whole new economic era — one where the US wouldn’t be the lone king of the hill.
And many experts are saying this era of dollar dominance is coming to a close.
Over the last decades, there’ve been slow steps in that direction. Geopolitical rivals have been wanting alternatives for years but took their time, never having the economic power to unseat the dollar’s hegemony. The inevitable but self-inflicted decline of Washington and the rise of Beijing, combined with the recent invasion and the unprecedented sanctions that followed, have…
