this post was submitted on 17 Jul 2023
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Treasury Secretary Janet Yellen says to expect a gradual decline in the dollar's share of global reserves (markets.businessinsider.com)
submitted 1 year ago by [email protected] to c/[email protected]
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[–] [email protected] 0 points 1 year ago (1 children)

The House Financial Services Committee just held a meeting around a month ago discussing the very real global trend of dedollarization and how the US can mitigate or even reverse the trend. Keep in mind that this committee is responsible for overseeing the Federal Reserve and Treasury, so it was a pretty high-level meeting.

https://www.youtube.com/watch?v=94YZ9TKFOac

[–] [email protected] 0 points 1 year ago (1 children)

It's increasingly clear that they're starting to understand the scope of the problem, but they're just trying to keep a lid on it to avert panic.

[–] [email protected] 0 points 1 year ago (1 children)

The big question that nobody's asking: is this a summer where decades will happen?

[–] [email protected] 0 points 1 year ago (1 children)

Decades are definitely happening right now. A lot of what already happened isn't obvious to everyone yet, but it's going to be increasingly difficult to deny going forward.

[–] [email protected] 0 points 1 year ago (1 children)

First that CIA guy, now Yellen. I'm shocked to find there are two observant voices already. It'll be interesting to see which truth becomes mainstream first—that the Ukraine war is unwinnable or that the US's dog days are over.

[–] [email protected] 0 points 1 year ago (1 children)

I expect they'll throw Ukraine under the bus first, likely in the next few months as the tap runs dry.

[–] [email protected] -1 points 1 year ago

I expect over the months, zelensky will go havoc on NATO for "its declining support for ukraine's defensive war", despite NATO clearly suffering from shortages, zelensky won't buy this. Which then will elicit a response from some NATOheads saying something similar to ben wallace "Be grateful for the stuff we provide you". Over time support will dwindle, zelesnky becomes more mad, up until the rift between NATO and ukraine becomes too great there might be a chance of NATO cutting their support right there and then by the end of the year.