The Dollar Has Been Ditched By One Of The Richest Nations In The World…

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It’s time to face the harsh reality we’ve been warning about for years. Patriots, especially those adhering to the Austrian school of Economics, have long cautioned the nation that reckless government spending would inevitably weaken the value of the United States Dollar (USD) and its status as the world’s reserve currency.

Well, that day is finally here.

Jim Hoft, the founder of The Gateway Pundit, recently reported that India is now offering its currency as a trading alternative for nations experiencing a shortage of dollars. This move comes after the US Federal Reserve’s most aggressive monetary policy tightening in decades. Joe Biden’s catastrophic economic policies have led to a coordinated effort to diminish the global reliance on the USD.

India’s new foreign trade policy, which took effect on April 1, is designed to disaster-proof countries facing a shortage of dollars, thus strengthening India’s exports. The policy includes industry-specific targets to achieve $2 trillion in merchandise and services exports by 2030, a nearly three-fold increase from the expected $770 billion in the 2022/23 fiscal year.

This is not an isolated incident. There is a growing trend of countries distancing themselves from the US dollar. Here is a summary of some recent events:

  • Saudi Arabia has formed a trade alliance with China, Russia, India, Pakistan, and four Central Asian nations, reducing their reliance on the USD.
  • China and France have completed their first LNG gas trade using the Chinese Yuan, ending their reliance on the USD for energy trades.
  • China and Brazil have agreed to settle trades in their own currencies, abandoning the USD.
  • The BRICS countries (Brazil, Russia, India, China, and South Africa) are developing a new currency, according to a senior Russian official.
  • Saudi Arabia has partnered with China to construct a Chinese oil refinery worth 83.7 billion yuan ($12.2 billion).
  • Kenya has signed a deal with Saudi Arabia and the UAE to purchase oil using Kenyan shillings instead of USD.
  • The Kenyan President has advised citizens to dispose of their USD holdings.
  • The Association of Southeast Asian Nations is considering dropping the USD, euro, yen, and British pound for local currency financial settlements.

These events should serve as a wake-up call for America. Our nation’s extravagant spending habits have shaken global confidence in the USD, and we are now witnessing the consequences. The luxurious living standards that Americans have enjoyed for decades are at risk as the USD’s position as the world reserve currency crumbles.

It is time for the United States to take a hard look at its economic policies and priorities. We must rein in the reckless spending and restore confidence in the USD before it is too late. If we do not, we risk losing our global influence and jeopardizing the financial stability of our nation. Patriots have long warned about this grim future, and it is now up to us to take action and ensure that America remains strong and prosperous.

Sources: Thebeltwayreport, Reuters

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