The dollar dominance may be coming to an end.
According to several experts, the US currency does not have much more time. Hegemonic for a long time in the world money market, the dollar would be doomed to certain death.
Many American politicians make fun of the thing if they don’t buy it. However, former President Donald Trump takes this perspective very seriously and gives warning.
De-dollarization, A Serious Threat According to Donald Trump
The announced end of the US dollar is not new information in itself. The news has been making headlines in the media and experts for several months. Some of the American specialists who have spoken on the subject are very skeptical as to its relevance.
Donald Trump, the former president of the United States, does not subscribe to this logic of skepticism. The former leader takes the threat very seriously. Speaking recently on the subject, the billionaire rang the bell on this risk, trivialized by current leaders.
For him, seeing the US dollar being outperformed by another currency would be a blow to the US economy. The United States could lose all the power that characterizes it just because of this evolution that redraws global geopolitics.
This, he emphasizes, is likely to happen in light of events surrounding the BRICS countries. And the efforts they provide are cause for concern when not a source of reflection.
“We should be concerned,” he said, “about seeing certain countries liquidate their oil supplies in a currency other than the dollar. Countries like France and Russia are doing the same. A bit as if oil had suddenly become the weapon that will destroy the US economy.”
Oil, The Secret Weapon to Destroy the US Dollar?
In any case, according to Donald Trump, this is what the propensity of these states to pay for their oil supplies in yuan suggests. It is a dynamic that could gain momentum as the geopolitical landscape changes.
It is precisely this worrying mutation that seems to be occurring. Recently, in fact, there was news about the desire of Saudi Arabia, like 40 other countries, to join the BRICS. Several of its countries enjoy the income from oil exploitation. He pointed to BRICS’s aggressive moves towards de-dollarization as a chief concern.
For Donald Trump, this development is likely to ring alarm bells for American politicians as the integration of Saudi Arabia into the BRICS countries would be a monumental blow to the US economy.
Such a prospect means that a substantial part of oil sales could pass under the noses of the Americans, especially if up to 90% of gross sales are away from the US dollar. Such projection could have important consequences for the United States.
Donald Trump is not the first politician to speak of the announced end of the dollar. Hillary Clinton had also given in to the same exercise and had shouted conspiracy against the United States.
In April, @TheDailyHodl posted on X that, according to US Treasury Secretary Janet Yellen, the American currency dominance is at risk as China, Russia and Iran conspire to Dump Dollar. For her, there is no doubt. If the dollar isn’t dead yet, it certainly already is.
By Audy Castaneda
