Countries are avoiding the U.S dollar!

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The 8 member states of the Shanghai Cooperation Organization (SCO), including China, Russia & Pakistan, have decided to conduct bilateral trade & investment and issue bonds in local and national currencies instead of US dollars.

Countries are beginning to avoid the U.S dollar by making other arrangements when it comes to international trade. I also noticed there were record outflows this week of U.S treasuries this past week from foreign central banks…

Could we see a run on the USD and the currency lose its reserve currency status shortly?

 

AC

 

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