If the EU and the BRICs get together to do it, they can, and very quickly.
EU has to decide when US military protection is no longer worth the foregone gains of being the international currency, themselves.
The case for the US dollar gets weaker as the US military declines.
It is highly debatable if that is even enough.
I thought that we agreed Asia had to be a component too.
Regardless, both entities have been trying to take down the dollar for a long time.
It’s not just military, Europe has become almost a nothingburger in innovation with the VAT tax.
That includes medical, tech, agriculture pretty much across the board end of existence.
PS it turns out Russia is NOT 1 1/2 NY, it is behind CA, TX and NY. In the old days someone would’ve correct me in the 28 months of war instead of me finding out on my own. Too many wanna believers.
De-dollarization will happen eventually—but not through negotiations at a table.
History is very clear on this.
Currencies collapse when the nation with the top currency loses its power in a war or wars.
Then the new “top dog” emerges.
Think ancient Rome, Portugal, Spain, Britain.....