Page 15 - De Dollarization News Today

The US's rivals are trying to unseat the dollar. Some of the biggest names in investing think it's unlikely that they'll succeed.

"Over the long term, US sanctions are a key pillar of, not a threat to, dollar dominance," former Treasury official Dan Katz wrote.

BRICS member-states will debate introducing a common currency, South Africas Minister of International Relations and Cooperation stated.

China imported $88 billion worth of major commodities from Russia in 2022, a 52% year-on-year jump from 2021 — mostly using the yuan.

The dollars obituary has been written multiple times in the past. But to quote Mark Twain, reports of its death are greatly exaggerated

Russia, Iran, Brazil, Argentina, and Bangladesh are building up yuan reserves and have started using the Chinese currency for trade.

"The dollar's backing is exemplified by a sound foundation, a history of credibility, and transparency that cannot be negated by its detractors."

"China will become more relevant in the global market, I have no doubts," Suzano CEO Walter Schalka told Bloomberg.

Buffett and Munger flagged threats to banks and real estate, discussed the risk of de-dollarization, and praised Elon Musk for doing the impossible.

There are chinks in the currency’s armour. But de-dollarization is far-fetched.Questions are being asked about the exorbitant privilege of the US dollar. Other countries need to earn the dollars in order to pay for commodities; the US can simply print it.