The U.S. Dollar could soon lose its position as the world’s reserve currency thanks to Joe Biden’s failed economic policies

Photo by John Guccione from Pexels

For months, the United States economy has been tanking under skyrocketing inflation, high interest rates, and a banking crisis.

As it stands, Americans have little hope of seeing any light at the end of the economic tunnel.

But the U.S. Dollar could soon lose its position as the world’s reserve currency thanks to Joe Biden’s failed economic policies.

Major changes underway

The U.S. Dollar has been the king of global currencies for decades.

However, several other countries are starting to make moves that could change the game.

Major nations like China, Russia, India, Brazil, Saudi Arabia, and others are taking strides to ensure that they are less dependent on the U.S. Dollar in the future.

The Dollar being the world’s reserve currency has allowed Americans to enjoy a standard of living that is much higher than many other countries. 

But if the Dollar loses its status, then America is in for some serious shellshock and most people aren’t even aware of what’s to come.

America as we know it will look quite different in the future if the U.S. Dollar collapses.

First, the BRICS (Brazil, Russia, India, China, and South Africa) nations, who account for over 40 percent of the global population, are working together to create a “new currency.”

The goal is to “provide the circulation of digital or any other form of a fundamentally new currency in the nearest future,” Deputy Chairman of Russia’s State Duma Alexander Babakov said.

Even more concerning is that two of the BRICS nations, China and Brazil, claim that they just “reached a deal to trade in their own currencies.”

This is a serious red flag that should be a warning to all Americans, as they stated they want to “build a more resilient international monetary system, one that is less dependent on the U.S. Dollar and more conducive to trade growth.”

In Indonesia, finance ministers discussed how they can “reduce dependence on the U.S. Dollar, Euro, Yen, and British Pound.”

And China just completed its first trade of liquefied natural gas using the Chinese Yuan instead of the U.S. Dollar.

The trade involved approximately 65,000 tons of liquefied natural gas that was imported from the United Arab Emirates. 

And thanks to the tightening in monetary policy by the Federal Reserve, even India’s government stated that it is now offering the Indian Rupee as an “alternative” to the U.S. Dollar in international trade.

According to India’s Commerce Secretary Sunil Barthwal, facilitating the Rupee for trade will help to “disaster-proof” the country.

Red flags abound

While Joe Biden and his administration continue to focus on Donald Trump’s indictment and identity politics, the nation’s currency is under duress.

And there are more red flags, including that Saudi Arabia has agreed to accept Kenyan Shillings as payment for oil instead of U.S. Dollars.

The pace at which these things are happening is at breakneck speed, but it’s unlikely that anything will be done to stop them or to protect the Dollar’s standing on the world stage.

Meanwhile, relations between Russia and China with the United States are at a low point and will likely continue to go downhill, encouraging both heavy hitters to reduce dependence on the U.S. Dollar even more aggressively.

Yet most Americans still trust their government and assume that their “leaders” have their best interests in mind. 

Patriot Political will keep you up-to-date on any developments to this ongoing story.