Don't go lumping me in there. I know perfectly well Russia has been diversifying out of dollars and into gold, bypassing the normal global dollar exchange system in favor of direct currency exchange with trading partners. Same goes for China.
Every time we foolishly use our dollar dominance to punish with sanctions we only encourage all the more strongly the move out of the dollar. Foolish, because it undermines confidence in the currency. Which being fiat, confidence is all.
Not that any of this is reported in "the international news" here, any more than the truth about the fake climate crisis or the truth about the billions democrats like the Bidens and Clintons have siphoned out of Ukraine. But the truth is there, you just have to go looking for it.
Which I do. And encourage everyone else to do as well.
Every time we foolishly use our dollar dominance to punish with sanctions we only encourage all the more strongly the move out of the dollar. Foolish, because it undermines confidence in the currency. Which being fiat, confidence is all.
Not that any of this is reported in "the international news" here, any more than the truth about the fake climate crisis or the truth about the billions democrats like the Bidens and Clintons have siphoned out of Ukraine. But the truth is there, you just have to go looking for it.
Which I do. And encourage everyone else to do as well.