An Alternative Native Monetary System To Boycott The US Dollar


Well this is not new because I have been of expectant of this move as to boycott the US dollar in trading fractions, an economist was giving he’s own bit about the situation and he said of rivals on the untied states are teaming up to go against the US stable coin in creating a global reserve currency system referred to as “bi-polar”.

Roubini in he’s interview says as he explains that current relationship between both capitalist and industrialist states has the cold war between the US and China is getting colder by the day.

It’s clear that the Strategic Rivals of the United States – China, Russia, Iran or Korea, Pakistan and their own friends and allies – want to build an alternative economic monetary and global reserve currency system because they’re concerned about the sanctions that the US, Europe and others can impose.

Chinese has $1 trillion dollars of reserves. And therefore, they’re going to move in the direction of proposing the RMB as being an alternative to the US dollar and gradually we’re going to go from a unipolar to a bipolar global reserve currency system.

But he’s says this won’t really happen over night that it’s going to take a gradual process and if this finally works out, it give more power to the RMB.

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The problem with China even is they introduce a currency backed by gold. What is the value? A government that tracks everything?