Countries around the world are ditching the US dollar, and reducing their reliance on $USD in trade and foreign exchange reserves. China, Russia, Brazil, India, ASEAN and African nations have all made major announcements that have shocked American elites. Could these decisions spell doom for the US dollar? Is its status as the world's No. 1 reserve currency under threat? Stay calm in the crisis, and, on this episode, discover :
- how decisions in 2023 by BRICS and other nations to reduce reliance on the US dollar are different to previous crises for the dollar
- some lessons of history (and John Maynard Keynes) related to global reserve currencies and how World Wars 1 and 2 set up US dollar primacy
- a fragment from the Burning Archive, Keynes' rejected proposal for a multipolar currency system, that was rejected by the USA in 1944
Full details about the material referred to during this show can be obtained from my free weekly newsletter that you can subscribe to at jeffrich.substack.com.
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95. The End of the US Dollar Empire?