The Fall of the Dollar: Experts Agree on Global Shift Away from U.S. Currency

It’s raining news for Bitcoin enthusiasts! People from all over the world, including officials, economists, and authors, are speaking up about the “de-dollarization” trend. Jeffrey Tucker, a libertarian author, predicts that “The dollar’s just not going to be king” anymore. Russia’s foreign minister agrees, saying that the flight from the U.S. dollar is “irreversible” and “sure to accelerate.” Meanwhile, U.S. Treasury Secretary Janet Yellen is worried that too many sanctions based on the U.S. dollar could hurt its global dominance.

Looking back over 600 years ago, Italy’s Medici Bank, which was once one of the most powerful banks in Europe, serves as a cautionary tale. They fell from grace after using fractional reserve banking, which their customers didn’t know about. It just goes to show that history has a way of repeating itself!

Clever Robot News Desk 25^th April 2023