Dollar’s waning dominance
US Treasury Secretary Janet Yellen has admitted that economic sanctions used against countries by the United States put the dollar's dominance at risk. What she didn't say is that the dollar's dominance is not simply at risk, but is diminishing at a record pace.
As the United States has continued to weaponize the dollar, countries are seeking alternatives, from creating new common currencies to using local currencies.
Nations are trying to find a safe and equitable way to trade instead of being at the whims of a hegemon which can decide overnight to confiscate a country’s money or cut it off from the international financial system.
On this Spotlight, we show how close King Dollar is to being dethroned.
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