Bitcoin proponents eyeing fiat failures are in no shortage of news on the topic as of late, as multiple officials, economists, and authors have been weighing in on 'dedollarization.'
Jeffrey Tucker Says Dollar Will Be Dethroned, Russian Official Speaks on De-Dollarization, and a Look at Historic Fractional Reserve Banking in Italy — Week in Review
Bitcoin proponents eyeing fiat failures are in no shortage of news on the topic as of late, as multiple officials, economists, authors, and analysts from around the world have been weighing in on “de-dollarization” in a prolific fashion. Author and libertarian Jeffrey Tucker said recently: “The dollar’s just not going to be king,” and Russia’s foreign minister says a flight from the U.S. dollar “is sure to accelerate.
Russia’s foreign minister says a flight from the U.S. dollar “is sure to accelerate,” emphasizing that “this trend is irreversible.” The official added: “The path of sanctions is the path to nowhere. Serious countries and sober-minded politicians are drawing relevant conclusions and these conclusions are definitely in favor of terminating dependence on the West.
U.S. Treasury Secretary Janet Yellen talked about the dangers that sanctions based on the U.S. dollar might pose for the hegemony of the currency in international markets. According to Yellen, the government tries to use sanctions “judiciously,” as they can create a desire to find alternatives to the U.S. dollar.Amid the banking chaos of the 21st century, some are looking back more than 600 years ago, to the Medici Bank — one of the most powerful banks of its time.
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