More and more major economies are refusing to use the US dollar as an intermediary currency in trade. These same countries are banding together to organize their own competing version of the IMF. This spells bad news for the US dollar because as more countries refuse to use it’s currency for trade, it’s value and relevance and power on the world stage will continue to decline. This is a good thing for the rest of the world, however not good for the US.
A US economic collapse and bank holiday similar to Cyprus or Greece may be closer than we think….