Alfredo Jalife-Rahme
De-dollarization is an irreversible fact. The only thing in question is its speed and timing when the Anglosphere tries to lengthen it, while the Global South has plunged headlong into adopting yuanization and currency. brics.
Cyrus Janssen explaya que China is moving fast! After negotiating the largest peace deal in the Middle East, it now welcomes Saudi Arabia (AS) to its business alliance. This was announced moments after China completed its first renminbi LNG energy transaction with the United Arab Emirates (UAE). The times they Are a changing!
(https://bit.ly/3nzSala).
Watcher.guru exposes that “AS makes a commercial alliance with China, Russia, India, Pakistan and 4 countries (! megasic!) from Central Asia (http://bit.ly/42YbQzu)”.
The Russian embassy in Kenya published that “Russia and India seek to break the dollar monopoly and dominate the Eurasian market. A forum in New Delhi highlighted major trade ties on the eve of the St. Petersburg International Economic Forum (https://bit.ly/40SqAOi)”.
Kenyan President William Ruto encouraged his citizens to part with their dollars (https://bit.ly/3lVTm1M). Kenya has suffered a dollar shortage due to the devaluation of its currency shilling, which has created strong inflation, while Bolivia is also suffering the ravages of a dollar drought due to the importation of hydrocarbons that it pays with green bills. This may be an opportunity for Bolivia to throw off the shackles of dollarization and adopt the yuan and/or the Indian rupee and/or the currency brics.
Bloomberg reports that “India (! megasic!) will offer its currency as an alternative to trade with countries facing dollar shortages (http://bit.ly/40OSsTF)”.
Sharmine Narwani says: TREMENDOUS: It is the most important global development in years. If ASEAN countries abandon the dollar for their local currencies, the dollar is dead
(https://bit.ly/3K0TUvh).
@runews comments that “BRICS, AS, Belarus ( sic) and Iran are developing a new currency” (https://bit.ly/3nEaSbc).
The 10-ASEAN (Southeast Asia) countries are discussing abandoning the dollar and the euro(sic) in their trade talks and their main geoeconomic power, Indonesia (17th in the world GDP ranking), invites their regional partners to cease the use of Visa and MasterCard credit cards to avoid the repercussions of Western sanctions against Russia
(http://bit.ly/3ZtAvsB).
The Cradle argues that “BRICS countries work essentially in a new currency
: Russian official”. (https://bit.ly/3Km0rCi)
The quoted analyst David Goldman asserts that US banking troubles herald the end of the dollar reserve system
Since the banking crisis is not a credit quality problem, but stems from the now impossible task of financing the ever-expanding US foreign debt
(http://bit.ly/3zG9SXb).
China’s Global Times warns that the de-dollarization is inevitable as the use of other currencies accelerates
as just happened in the agreement between China and Brazil to trade in their own currencies when the bilateral trade of both is more than 150 billion dollars (http://bit.ly/3nCVP1J).
Even France participated in a triangulated agreement with the UAE for the purchase of liquefied natural gas (LNG) with China made in yuan (http://bit.ly/40LFiXo).
Gillian Tett, del Financial Timescry out to prepare for a multipolar (sic) world of currencies
when The US dollar still dominates debt markets, but some niche sound data suggests things could be headed for a turn.
(http://bit.ly/42UMKS0).
By the way, 14 years ago ( sic) years I argued that the world tends to multipolarity and regionalization of currencies
(http://bit.ly/3ZyPx0n). I also proposed the currency brics (http://bit.ly/3zjVWlo), which is now about to materialize in order to replace the dollar (http://bit.ly/3KonBry). CQFD
.
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