Dollar will be ditched by countries watching…
As I’ve said in a previous post, this truly is a paradigm shift that few are really talking about. When we seized Russia’s assets the whole world woke up to the bully USA. Previously, the US was a safe financial haven in large measure because you could bank on the fact that the was a trustworthy moral agent. Biden and the Democrats have destroyed that by confiscating/stealing Russia’s wealth.
Yes, I understand Russia invaded Ukraine but prior to that the sovereign financial were secure and untouchable.
Yes, I understand we “secured” the assets of Iran, but it was always understood and publicly stated that the assets remained Iran’s. And, of course ultimately Obama sent it back in plane loads of tens and twenties.
Since the seizure of Russian assets BRICS took off in earnest and most of the world is actively repatriating their gold and deleveraging from us. I really don’t think people are grasping what Biden has done here.