John Chuckman
COMMENT TO AN ARTICLE BY MARKO MARJANOVIC IN CHECKPOINT ASIA
“Vladimir Putin Predicts the Speedy Collapse of the Dollar
"This is not the first time Putin has said that dollar’s status as the world reserve currency is being eroded (and that America’s own weaponization of it was to blame)....It is the first time however that he has expressed the opinion that US dollar will exit the scene sooner rather than later."
Indeed.
And there are other forces at work in the world towards the same end.
But I do think America's completely ignoring of what the world actually wants in a reserve currency is key.
Nations want a safe and assured store of value and internationally-acceptable medium of exchange, not something controlled by political ideology and effectively requiring users to offer a pledge of allegiance to a foreign power.
America's extreme weaponizing of the dollar speaks of arrogance and corruption and rot from within.
