BY TYLER DURDEN
SUNDAY, APR 23, 2023 – 02:00 PM
Over the last few weeks, it has seemed that you can’t turn a page, blink at a pixel, or hear a news report without some form of de-dollarization headline shrieking at you. From Brazil to Saudi Arabia, and from India to Argentina, and increasing number of nations are ‘reportedly’ shifting away from the dollar hegemon.
Some recent headlines;
- “No Reason” For Malaysia To Rely On US Dollar, PM Warns As Yuan Influence Grows
- De-Dollarization Just Got Real
- Here Are 7 Signs That Global De-Dollarization Has Just Shifted Into Overdrive
- De-Dollarization Has Begun
Eyeballing the Dollar Index (or some other broad index of fiat relativity) drops modest hints but the nature of the relationship of one un-backed currency against another makes that comparison worthless in the longer-term.
But below the surface, the dollar’s fecal matter is striking rotating objects at an increasing pace and Stephen Jen – infamous for his coining of the ‘dollar smile’ while at Morgan Stanley which posits that the US Dollar tends to do well when the economy is soaring or slumping – recently quantified just how rapidly the de-dollarization is ocurring.
Still think it won’t or can’t happen, here’s George Soros… from 2009…
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