Hard Data That Confidence in the Dollar is Cracking

April 26, 2023

by Simon Black Sovereign Man

It is becoming increasingly clear that the world is losing faith in the United States dollar… and rapidly turning to alternatives. And that’s a huge deal for the United States.

For nearly eight decades, the US economy and US government have enjoyed the unparalleled benefits of the dollar being the world’s reserve currency.

This means that nearly every government, central bank, commercial bank, and large corporation in the world holds at least some US dollars. Foreign companies use the dollar to trade with one another. Foreign governments and corporations often issue bonds in US dollars.

And most of the world’s major commodities, including oil, are priced and traded in US dollars.