“Dollar Hegemony Ended Last Wednesday“
If the way you have dollar hegemony is to have other countries deposit your money in your banks and handle their oil trade with each other by financing it in dollars, but all of a sudden you grab all their dollars and you don’t let them use US banks to pay for their oil and their trade with each other, then they’re going to shift to a different system.
Michael Hudson Interviewed
Posted on March 30, 2022 by Yves Smith
Originally published at Popular Resistance
https://popularresistance.org/michael-hudson-us-dollar-hegemony-ended-abruptly-last-wednesday/
Every country in the world now realizes its reserves and assets in foreign banks are subject to seizure
I’m not arguing that’s bad; I am suggesting it’s new.
John Mauldin 4 March 2022
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