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It’s already happening.

No, actually it's not - except in these articles written by people who don't understand how debt-based economies work.

We are in the midst of global monetary deflation.

This means other countries can't get enough US dollars (Euro dollars to them) to trade with - which is a real economic danger, since places like China depend on massive export trade for their economic existence.

It's not that these countries don't want the US dollar (Eurodollar) - it's that they can't get their hands on enough of them.

That's why you're seeing side deals going on - in an attempt to move some trade through direct channels in an attempt to survive.

Pretty simple explanation - but these economic rags want to turn everything into American hate.

These are the same clowns how believe the Fed is going to pivot hard in the near future on interest rates - and that gold, silver, and oil are going to the moon.

Same 'ol song they've been singing for decades - not understanding the true nature of what "debt-based" even means and why the powers that be won't let it go away.

1/2 Looks like it, and the downward trajectory doesn’t seem to be abating, yet some use spin to avoid discussing it:

The numbers: the dollar share of global reserves was 73 percent in 2001, 55 percent in 2021, and 47 percent in 2022. The key takeaway is that last year, the dollar share slid 10 times faster than the average in the past two decades.

De-dollarization kicks into high gear
By Pepe Escobar (Posted Apr 29, 2023)

“... the U.S. dollar’s status as a global reserve currency is eroding. When corporate western media begins to attack the multipolar world’s de-dollarization narrative in earnest, you know the panic in Washington has fully set in.

Now it is no longer far-fetched to project a global dollar share of only 30 percent by the end of 2024, coinciding with the next U.S. presidential election.

The defining moment—the actual trigger leading to the Fall of the Hegemon—was in February 2022, when over $300 billion in Russian foreign reserves were “frozen” by the collective west, and every other country on the planet began fearing for their own dollar stores abroad. There was some comic relief in this absurd move, though: the EU “can’t find” most of it.

Now cue to some current essential developments on the trading front.

Over 70 percent of trade deals between Russia and China now use either the ruble or the yuan, according to Russian Finance Minister Anton Siluanov.

Russia and India are trading oil in rupees. Less than four weeks ago, Banco Bocom BBM became the first Latin American bank to sign up as a direct participant of the Cross-Border Interbank Payment System (CIPS), which is the Chinese alternative to the western-led financial messaging system, SWIFT.

China’s CNOOC and France’s Total signed their first LNG trade in yuan via the Shanghai Petroleum and Natural Gas Exchange.

The deal between Russia and Bangladesh for the construction of the Rooppur nuclear plant will also bypass the U.S. dollar. The first $300 million payment will be in yuan, but Russia will try to switch the next ones to rubles. ...”

https://mronline.org/2023/04/29/de-dollarization-kicks-into-high-gear/

2/2 *Nasdaq*
Petrodollar Dusk, Petroyuan Dawn: What Investors Need To Know
4/2/23

“During a three-day state visit, Chinese President Xi Jinping held friendly talks with Russian President Vladimir Putin in a show of unity, as both countries increasingly seek to position themselves as leaders of what they call a “multipolar world order,” one that challenges U.S.-centric alliances and agreements.

Among those agreements is the petrodollar, which has been in place for over 50 years.

In case you’re wondering, “petrodollars” are not a real currency. They’re simply dollars being used to trade oil. Early in the 1970s, the U.S. government provided economic aid to Saudi Arabia, its chief oil-producing rival, in exchange for assurances that Riyadh would price its crude exports exclusively in the U.S. dollar. In 1975, other members of the Organization of Petroleum Exporting Countries (OPEC) followed suit, and the petrodollar was born.

This had the immediate effect of strengthening the U.S. dollar. Since countries around the world had to have dollars on hand in order to buy oil (and other key commodities such as gold, also priced in dollars), the greenback became the world’s reserve currency, a status formerly enjoyed by the British pound, French franc and Dutch guilder.

All things must come to an end, however. We may be witnessing the end of the petrodollar as more and more countries, including China and Russia, are agreeing to make settlements in currencies other than the U.S. dollar. ...”

https://www.nasdaq.com/articles/petrodollar-dusk-petroyuan-dawn:-what-investors-need-to-know