There are years when weeks happen and then, there are weeks when decades happen
This week was the most significant one for the theme of de-dollarization for various reasons.
Let me share some of my observations:
After all these years of intellectually stimulating de-dollarization dream of most of us, This was the first time that there was an acknowledgement from American media as they have started noticing the change in patterns of various countries dealing in either their own currency or in yuan.
Janet Yellen, who is the secretary of treasury of US also addressed this topic saying it is almost impossible to have an alternative to US dollar so easily. Acknowledgement of the change is key here.
Here are some deals done by various countries in this week:
I am guessing not. I think this is like red day candles, a few red day candles does not mean the month candles are red.
Although I have very basic understanding of these things, I don’t think $ cannot be dethroned that easily. Of course there will be a first time for everything.
Surprising assessment. Such deals and announcement is going on for years.
I agree world is changing and dollar is loosing its sheen, but it would be stretch to say it all happened this week and few months from now, world would have changed.
What i’m saying is: This week’s action point at how various countries are trying hard to make this happen. News flow is definitely visible more than what it was in the past.