Countries are leaving the USD standard, they need a Bitcoin strategy
As de-dollarization accelerates around the world, countries like Russia and India had better have a strategy of accumulating bitcoin.
The following is a direct excerpt from Marty’s Bent issue 1126: âDe-dollarization is accelerating. Â»Subscribe to the newsletter here.
Above is an excerpt from an article published in Al Mayadeen yesterday morning which highlights another domino falling into a trend that we have been following for years in this rag; countries deciding to do foreign trade in their national currency instead of using the dollar. In the past, the main focus was on energy trade between countries. The petrodollar system requires individual countries to settle their oil trade in US dollars, as it has become the dominant unit of account for international trade. As time goes on and other countries become increasingly unhappy with the U.S. government’s attempts to control the world, and worried about the rate at which dollars are being created, they have started working to trade without. involve the US dollar in an attempt to separate themselves politically and from currency risk.
The decision of Russia and India to conduct an arms trade using rubles and rupees as settlement currency is a further step towards dollar hegemony on the international stage. This may not be a big deal in terms of the size of the economic activity that is settled outside the USD reserve system. However, it is a very strong signal to the rest of the world that the dollar is not as sticky as it has been for the past five decades. Many countries are tired of satisfying a bloated and irresponsible US federal government that seems to bank on the prestige of another era that has not necessarily been earned over the past two decades to claim dominance of the dollar over the rest of the world. global market. It should come as no surprise that countries are starting to turn away from the dollar.
That being said, Russia and India would do better to have a bitcoin accumulation strategy and the intention to adopt a Bitcoin standard over time, because even if they settle their transactions outside of the system limits. dollar, their currencies still compete with bitcoin, the best human money. have never been in contact with.
The seas of the forex markets are becoming foamy. Power players are taking positions and more and more people will start to notice this sooner or later. Be sure to board the ship that has the greatest probability of navigating increasingly volatile seas.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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