Jeffrey Tucker on De-Dollarization: USD Will No Longer Be King, We’re at Turning Point for US Dollar

0 6

Jeffrey Tucker on De-Dollarization: We're at a Turning Point for the US Dollar

knife

Jeffrey Tucker says we are at the turning point for the U.S. dollar, citing a growing de-dollarization trend. “The dollar’s just not going to be king,” he warned, adding that history will record recent events “as the turning point for the dollar.”

Jeffrey Tucker on De-Dollarization, USD’s Turning Point

Jeffrey Tucker, an author and publisher who worked for former U.S. Representative Ron Paul and the Mises Institute for many years, shared his view on the growing de-dollarization trend and its effects on the U.S. economy in an interview with NTD News on Wednesday.

Responding to a question about whether de-dollarization is actually happening and when we will feel its effects, he explained that the U.S. has held dominance in the global currency market since 1944, which has enabled it to influence policies worldwide. However, referring to the attack and sanctions imposed by the U.S. government on Russia following the outbreak of the Russia-Ukraine war, he opined:

History will record that was the turning point for the dollar. Since 1944, the dollar has been dominant even after the end of the gold standard in 1971 … That has really changed with the attack on Russia and the sanctions because a lot of those assets that were confiscated by the U.S. just arbitrarily were denominated, of course, in dollars.

“If the U.S. puts its political might behind other people’s willingness to hold its currency and bludgeons them and attacks them and criticizes their own policies and actually confiscates assets, then that just discourages people from holding the dollar. So, suddenly we have a situation where all these very powerful, important countries are saying: ‘We need to do something about this. Let’s dump the dollar. We’ve got to move on to something else.’ They can do it and it’s starting to happen,” he detailed.

Noting that the BRICS countries (Brazil, Russia, India, China, and South Africa) are starting to “marginalize” the USD, he stressed that it will affect the status of U.S. debt which could really restrain the Federal Reserve.

Inflation Is ‘Sticky’

Regarding how de-dollarization affects Americans in terms of a potential recession, Tucker explained: “The impact domestically is not going to be as pronounced as people might think. The big thing we have to worry about domestically is domestic de-dollarization, namely inflation.”

He stressed that inflation is “sticky,” adding: “It’s with us. It’s not going anywhere. The Fed hasn’t been able to reverse it.” He further noted that the USD has lost 15 cents of its value over the past two and a half years. “That’s inflation,” he exclaimed, emphasizing that it’s the “direct consequence of the Fed’s mismanagement.”

Tucker cautioned: “De-dollarization will affect us as we travel internationally. Right now, the dollar is basically gold anywhere you travel in the U.S. … That will definitely come to an end.” Furthermore, he said it will “also seriously hurt international business that’s domiciled in the U.S.” He concluded:

The dollar’s just not going to be king. This isn’t going to happen tomorrow or next year or even the next five years, but looking at the long-term trajectory, I think we are at a turning point.

Do you agree with Jeffrey Tucker about de-dollarization? Let us know in the comments section below.

Leave A Reply

Your email address will not be published.

bitcoin
Bitcoin (BTC) $ 50,956.65
ethereum
Ethereum (ETH) $ 3,043.18
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 385.47
solana
Solana (SOL) $ 101.62
staked-ether
Lido Staked Ether (STETH) $ 3,040.24
xrp
XRP (XRP) $ 0.533134
usd-coin
USDC (USDC) $ 0.999126
cardano
Cardano (ADA) $ 0.574983
avalanche-2
Avalanche (AVAX) $ 36.43
tron
TRON (TRX) $ 0.137491
dogecoin
Dogecoin (DOGE) $ 0.084334
chainlink
Chainlink (LINK) $ 18.20
polkadot
Polkadot (DOT) $ 7.63
matic-network
Polygon (MATIC) $ 0.976586
uniswap
Uniswap (UNI) $ 10.62
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 50,983.66
the-open-network
Toncoin (TON) $ 2.11
shiba-inu
Shiba Inu (SHIB) $ 0.000009
internet-computer
Internet Computer (ICP) $ 12.15
bitcoin-cash
Bitcoin Cash (BCH) $ 263.07
litecoin
Litecoin (LTC) $ 69.24
dai
Dai (DAI) $ 0.999672
immutable-x
Immutable (IMX) $ 3.18
filecoin
Filecoin (FIL) $ 7.83
cosmos
Cosmos Hub (ATOM) $ 10.33
near
NEAR Protocol (NEAR) $ 3.74
leo-token
LEO Token (LEO) $ 4.18
ethereum-classic
Ethereum Classic (ETC) $ 26.78
kaspa
Kaspa (KAS) $ 0.161866
bittensor
Bittensor (TAO) $ 579.23
optimism
Optimism (OP) $ 3.69
blockstack
Stacks (STX) $ 2.44
hedera-hashgraph
Hedera (HBAR) $ 0.103812
aptos
Aptos (APT) $ 9.38
vechain
VeChain (VET) $ 0.046575
first-digital-usd
First Digital USD (FDUSD) $ 0.998159
stellar
Stellar (XLM) $ 0.114289
injective-protocol
Injective (INJ) $ 35.06
okb
OKB (OKB) $ 49.86
lido-dao
Lido DAO (LDO) $ 3.35
mantle
Mantle (MNT) $ 0.891358
celestia
Celestia (TIA) $ 16.25
render-token
Render (RNDR) $ 7.15
the-graph
The Graph (GRT) $ 0.286812
crypto-com-chain
Cronos (CRO) $ 0.092576
monero
Monero (XMR) $ 128.11
arbitrum
Arbitrum (ARB) $ 1.82
sei-network
Sei (SEI) $ 0.792414
maker
Maker (MKR) $ 2,046.41
rocket-pool-eth
Rocket Pool ETH (RETH) $ 3,344.99
sui
Sui (SUI) $ 1.58
beam-2
Beam (BEAM) $ 0.031933
thorchain
THORChain (RUNE) $ 5.36
algorand
Algorand (ALGO) $ 0.197861
flare-networks
Flare (FLR) $ 0.045793
mantle-staked-ether
Mantle Staked Ether (METH) $ 3,082.21
elrond-erd-2
MultiversX (EGLD) $ 57.19
quant-network
Quant (QNT) $ 103.91
flow
Flow (FLOW) $ 0.998304
aave
Aave (AAVE) $ 98.73
bitcoin-sv
Bitcoin SV (BSV) $ 73.67
dydx-chain
dYdX (DYDX) $ 3.35
theta-token
Theta Network (THETA) $ 1.38
bitget-token
Bitget Token (BGB) $ 0.980808
starknet
Starknet (STRK) $ 1.88
mina-protocol
Mina Protocol (MINA) $ 1.25
ordinals
ORDI (ORDI) $ 62.91
havven
Synthetix Network (SNX) $ 3.95
true-usd
TrueUSD (TUSD) $ 0.973763
tokenize-xchange
Tokenize Xchange (TKX) $ 15.50
worldcoin-wld
Worldcoin (WLD) $ 8.87
helium
Helium (HNT) $ 8.29
the-sandbox
The Sandbox (SAND) $ 0.519536
fantom
Fantom (FTM) $ 0.412072
chiliz
Chiliz (CHZ) $ 0.130051
apecoin
ApeCoin (APE) $ 1.91
axie-infinity
Axie Infinity (AXS) $ 8.21
gala
GALA (GALA) $ 0.032683
fetch-ai
Fetch.ai (FET) $ 1.06
blur
Blur (BLUR) $ 0.725955
whitebit
WhiteBIT Coin (WBT) $ 7.11
kucoin-shares
KuCoin (KCS) $ 10.60
bittorrent
BitTorrent (BTT) $ 0.000001
dydx
dYdX (ETHDYDX) $ 3.34
cheelee
Cheelee (CHEEL) $ 18.53
arweave
Arweave (AR) $ 15.12
osmosis
Osmosis (OSMO) $ 1.56
tezos
Tezos (XTZ) $ 1.09
sats-ordinals
SATS (Ordinals) (SATS) $ 0.00000045822277
decentraland
Decentraland (MANA) $ 0.519388
frax-ether
Frax Ether (FRXETH) $ 3,054.41
singularitynet
SingularityNET (AGIX) $ 0.731538
woo-network
WOO (WOO) $ 0.500073
akash-network
Akash Network (AKT) $ 3.97
conflux-token
Conflux (CFX) $ 0.23994
dymension
Dymension (DYM) $ 6.12
ronin
Ronin (RON) $ 2.98
eos
EOS (EOS) $ 0.779556
astar
Astar (ASTR) $ 0.158653