Derek Ross on Nostr: An interesting take on the current dedollarization happening: We did it to ourselves. ...

An interesting take on the current dedollarization happening: We did it to ourselves. But, not in the way you'd think. It wasn't directly because of printing of money. It was because of Russian sanctions a year ago. We showed the world that we'll stop your ability to use the US dollar and we'll attempt to seize those dollar assets if you try to save them. Russia has commodities they need to sell. They can't sell them for dollars. They can't save in dollars, because they can't use them. So, Russia will seek non-USD trading currencies with their trading partners. Other nations will follow suit just in case "it happens to them".