|
Tags: New redirect Visual edit |
| (4 intermediate revisions by the same user not shown) |
| Line 1: |
Line 1: |
| '''Dedollarization''' typically refers to the geopolitical process of substituting the US dollar for other currencies in strategic areas such as commodity pricing, foreign exchange reserves, bilateral trade agreements, etc.
| | #REDIRECT [[De-dollarization]] |
| | |
| Since 1944, the US dollar, then backed by gold reserves, has been the primary global reserve asset. In 1971 the US dollars' gold backing was suspended permanently, which thus ushered in a historically unprecedented situation where the global reserve asset is backed by nothing. (this is called a "fiat" currency)
| |
| | |
| == Geopolitical importance ==
| |
| Some speculate that part of the reason for the imperialist destruction Libya was because Gaddafi sought to sell Libyan oil for gold and establish a "Gold Dinar" pan-African currency.<ref name=":0">{{News citation|journalist=|date=2011-05-05|title=Gaddafi gold-for-oil, dollar-doom plans behind Libya 'mission'?|url=https://youtu.be/GuqZfaj34nc|newspaper=|archive-url=|archive-date=|retrieved=|quote=}}</ref>
| |
| | |
| This has been likened to the earlier US attack on Iraq, who just years prior had switched its oil prices from dollars to Euros.<ref name=":0" />
| |
| | |
| In 2017, Venezuela was sanctioned after dropping the US dollar.<ref>{{News citation|journalist=Whitney Webb|date=|title=Venezuela Accused Of Drug Trafficking After Dropping U.S. Petrodollar|url=https://www.mintpressnews.com/venezuela-drug-trafficking-petrodollar/232056/|newspaper=|archive-url=|archive-date=|retrieved=|quote=}}</ref>
| |
| | |
| In 2021, Russia, China, and the EU are all increasingly interested in reducing their reliance on dollars in their trade.<ref>{{News citation|journalist=Divyanshu Jindal|date=2021-09-18|title=Russia, China and EU are pushing towards de-dollarization: Will India follow?|url=https://moderndiplomacy.eu/2021/09/18/russia-china-and-eu-are-pushing-towards-de-dollarization-will-india-follow/|newspaper=Modern Diplomacy|archive-url=|archive-date=|retrieved=|quote=}}</ref>
| |
| | |
| == References ==
| |
