The US dollar is essential to US global power projection. But in 2022, the dollar share of reserve currencies slid 10 times faster than the average in the past two decades.
De-Dollarization Kicks Into High Gear
Related:
The US dollar is essential to US global power projection. But in 2022, the dollar share of reserve currencies slid 10 times faster than the average in the past two decades.
De-Dollarization Kicks Into High Gear
Related:
Oct 8, 2022 – OPEC plus has cut oil production and the United States is panicking. But the real worry isn’t about higher oil prices, it’s really about the future of the US dollar. The real fate of the US dollar lies with Saudi Arabia. Here’s what you must know about the Petrodollar. You must watch this carefully.
The Truth Behind The OPEC Cuts – It’s All About The Dollar! via Sean Foo
The U.S. empire’s social stability can no longer rely on buying off the workers within its own borders. When Che Guevara observed that international worker solidarity gets undermined by the proletarians in the core imperialist countries receiving special benefits compared to the proletarians in the exploited countries, he was right. But with the contraction of capital, and the consequential introduction of neoliberalism to keep capital afloat, this has changed. Every year, the masses within the United States face conditions that are more like the ones in the Global South. The global wealth gap is still the primary wealth gap in a macro sense, but this widening of the U.S. empire’s internal inequality represents a contradiction which can bring about the empire’s defeat from within. And therefore a major step towards eliminating the global gap.
By endangering the petrodollar, Ukraine conflict brings multipolar world & U.S. revolution far closer
By Pepe Escobar
Russia says half its gold assets were frozen – is this for real or a slick play by Moscow?
Say Hello to Russian Gold and Chinese Petroyuan
In 1971, the Bretton Woods monetary system, based on the gold standard, de facto ceased to exist (the price of gold was fixed at 35 US dollars per …
The Fate of the Dollar, the Gold Standard, and the Multipolar World
American Exceptionalism Is on the Ropes and the End of the Petrodollar Is Nigh
From the border wall rhetoric to trade wars, Trump is effectively setting up the implosion of the dollar and couching it as pseudo nationalistic populism.
Petrodollar Warfare: The Common Thread Linking Venezuela and Iran
At its root, a currency has power because people believe it does. As belief in and fealty to the dollar continue to erode, we can expect the U.S. to fight, brutally when deemed necessary, to maintain the status quo that made it an empire.