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4/15/19

US Economy: The dollar is on a downward spiral as US policies turn countries against the greenback - by Garry White

The dollar is the most important currency in the world because of Saudi Arabia. In the Seventies, the world’s largest oil producer agreed to sell its crude in the US currency and the “petrodollar” was born.

The move boosted global demand for the dollar, cementing its status as the globe’s reserve currency. However, the US’s current aggressive treatment of rivals and allies alike means many countries are questioning whether the use of the dollar is now in their own interests.

The Trump regime’s belligerence is resulting in countries turning their backs on the buck – and Russia is leading the de-dollarisation trend.

Read more: The dollar is on a downward spiral as US policies turn countries against the greenback

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