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Iraq is moving away from Dollar to Digital Yuan. This was expected and big news. 

Dollar hegemony is the dominance of the US dollar in international trade, finance, and economics. The US dollar is currently the world's primary reserve currency, meaning that it is held in significant amounts by many countries' central banks as a form of global financial stability and method for global trade. eg Oil etc

Now the US has made many enemies eg Middle East, Russia, China, and those countries who align with those regions. 

Add to this the fact that many countries are dropping US Treasuries - and some are going off the Dollar / IMF reservation eg El Salvador - things are going to change. 

  • Less demand for dollar plus less reliance on dollar will reduce demand for the dollar which will weaken the dollar. 
  • As china grows, a new giant will emerge eg Yuan - the dollar will weaken esp China are aligned with countries that are strong in natural resources
  • Future power will come from hard assets and commodities eg Oil, Gold, Bitcoin, Copper, Silver..... 

Then finally - Crypto will disrupt traditional payment systems one day!!! 

Conclusion: the gig is up for perpetually inflating FIAT currencies - when this happens is the Q. 

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Comments

Anonymous

Yup, the question is when. It will not go quietly, or quickly. I don’t think it is a cheery proposition either. There will be blood.

Anonymous

Things are defo changing. China bought another 15 tons of gold last month. Many countries seem to be turning on the US. Things are about to get messy imo. . Things seem to be bad for the us and even more so for Europe. I follow this channel in you tube way more accurate than the MSM and imo our sell out and dumb politicians. Buckle up folks just hope crypto does well🤣https://youtu.be/UNGnrsAALrg The youtube channel is called" The Duran" they report what our news will not.

Anonymous

That is what worries me,the us will not hand over the batton without doing some nasty 💩 I think the us has had its time as top dog. But unfortunately there are some Psychos running around Washington 🤣🙈

Anonymous

Whether we believe it or not, objectively, everything has an expiration point. Fiat. Crypto. Civilization. Light. Black holes. Every system eventually runs out of available energy to do work. Entropy wins.

Anonymous

Great post James, I’m impressed. In my opinion the days of the US Petro dollar are numbered, the dollar destruction has been accelerated by all the crazy spending bills. I do believe there is way out, the US needs energy independence, cheep energy will bring more manufacturing production to the US. The US needs to be a net exporter not a net importer. For me BTC and Silver are my favorite things for wealth preservation.

Anonymous

The sanctions against Iran seem to be backfiring. China taking advantage of the tensions between US and Iran to secure resources. Shouldn't come as a surprise to anyone. I am waiting for the Saudi's to jump on the bandwagon too. The best thing we can all do is become sovereign in our own Nations energy policies. What a disaster reliance on oil has caused this world in conflict. It's been dumping snow here in BC. I'm waxing the boards and getting ready to rip the powder snow up. That always puts a smile on my face.

Anonymous

3 way race with USA in 1st, China in 2nd, EU in 3rd and Crypto in a very distant place... like 100th or so. There are a few politically motivated changes happening, but it's much too early to call any long-term winner. Interesting to track though, that's for sure.

rscx

SHTF insurance, Gold Silver Bitcoin needed depending on which shit hits which fan. Allocation to each is safest. But I’d still bet on the US coming out on top.

Anonymous

China is a busted flush, frankly the demographics for China are in the toilet, their population is so longing, with the majority of older people out of the workforce and rapidly declining birth rates causing massive economic problems. They have no natural resources, so No.

Anonymous

You mean china or Iraq ?