Elon Musk Reacts To De-Dollarization Of The World
April 25, 2023
Countries worldwide are ditching the US dollar for international trade. Currently, the US Dollar is the world’s reserve currency.
De-dollarization in China, Russia, Brazil, is already happening.
De-dollarizing is happening at 10x faster than the previous two decades, Stephen Jen, CEO and Co-CIO of Eurizon SLJ said.
Elon Musk chimed in on the de-dollarization saying, “if you weaponize currency enough times, other countries will stop using it.”
Elon Musk referred to America using the dollar as a tool of power and influence in international relations.
The US has put sanctions on many countries, like Venezuela, who have been using currencies other than the dollar to conduct international trade.
China and Russia have announced plans to use digital currencies for international trade and ditch the US dollar.
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