Thursday, December 29, 2022

In the midst of quantitative tightening, is the world dumping the dollar?

The rest of the world is catching on to the easy monetary policy of the West. The BRICS nations are developing a new reserve currency that is likely to be backed by commodities and possibly gold. If this BRICS currency emerges, this is bad news for the West and the U.S. dollar, says Alasdair Macleod, head of research at Gold Money.

Read Macleod's writing:

Three months ago ...

China is planning to pay for Russian gas in Yuan and Roubles. Both countries are ditching the US dollar in an effort to de-dollarise their economy. Can they successfully end the dollar's dominance?

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