De-Dollarization

“The dollar is finished as the world’s reserve currency,” Richard Bove told the New York Times in a recent interview, days after he announced his retirement.

Debt, reckless foreign policy, and the malicious intent of our adversaries threaten the dollar as the world’s reserve currency.

India and the United Arab Emirates will now settle bilateral trade in local currencies, beginning with a recent crude oil transaction that was completed in rupees that could bolster the region’s de-dollarization campaign.