Subject: Re: OT - De-dollarization
The desire and in many cases need to de-dollarize has been around for years. and for good reason :
1.we export inflation as needed
2 we constrain economic development in partners
3.we hold hostage the rest of the world to our internal and external political agenda from cliffhanger budgets (ever more frequent)to trading commodities especially oil in dollars, but to poor countries this can also mean starvation , to our not well thought out military foreign adventures, usually expensive failures in blood and treasure.

Until now, there was little possibility to challenge the USA, as what was the alternative ? and could you trust them ? the idea/concept of "baskets of currencies ", works, till it doesnt, without gold, some would say bitcoin....which also works , till it doesnt.

De dollarization is a long process and a search for alternatives. The rise of China, India, and common cause with saudi arabia and brazil , is the latest version. One day, one of these will happen. It has little to do with Biden administration per se, it is a global reluctance to have all your eggs in 1 basket , which can be manipulated at any time.

forgive my brashness, but the only people who could even wonder about this development eventually happening , is an American mentality. The lessons of history, the rise and fall of empires, the economic effects of economic and financial colonization push in the direction of dedollarization. the rest of the world has been looking at this since at least the 1970's, the EURO was an initial attempt to create a financially bi-polar world , the heft and weight was not there , and the rest of the world viewed europe as an american possesion whi in Macron's words just yesterday would only and always "follow " the United States.

its what the french admirably class in history and philosophy as the "longue duree". The subsurface movements ahve been visible for 30-50 years at least , whilst most eyes have been on the surface currents and froth of crashing breakers.

Please take this in the spirit in which it is meant , not as a political essay, but having had a global career this was readily apparent visibly, and is entirely my own opinion based on studies and career.

will it happen in my lifetime ? soon-ish ?... doubtful without a massive trigger ,but it will happen , slice by slice, market by market.... there are possible alternatives now again, actively being pursued