Venezuela is preparing to use the El Petro for all its oil transactions, this will bypass US sanctions. The credit impulse is still in the negative territory, the central banks have taken their foot off the gas pedal and we are coasting towards the collapse. The world does not have to wait for another reserve currency, all countries need to do is use their own currencies. By doing this the dollar will not be in demand and the currency will begin to collapse which will have extreme repercussion on the US economy.
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