The dominance of the US dollar as the global reserve currency has been gradually declining for years, but Donald Trump's policies could rapidly accelerate de-dollarization and the transition to a more multipolar international financial order, warn even mainstream American economists like Barry Eichengreen and Kenneth Rogoff. Political economist Ben Norton reviews the evidence.
Topics
0:00 Dedollarization
0:43 Trump's policies accelerate dedollarization
3:50 Economist Barry Eichengreen
5:25 (CLIP) Barry Eichengreen on dedollarization
6:54 Gradually, and then suddenly
7:49 Erosion of dollar dominance
9:18 Decline of US economy
11:36 Rise of China
12:50 Gold: why central banks keep buying it
15:42 Western sanctions
17:57 List of reasons driving dedollarization
18:42 Trump's tariffs & US trade deficit
20:10 Trump pressures Federal Reserve
22:58 Why Trump wants low interest rates
24:56 US Treasury market volatility
26:03 Fewer foreigners want US government debt
29:32 US economy: a financial house of cards
30:34 High corporate bond yields
32:26 Reasons driving dedollarization
32:56 Inflation
36:31 Trump fires BLS chief
37:40 Mar-a-Lago Accord plans
38:54 (CLIP) Trump economic advisor Stephen Miran
38:59 Plaza Accord redux 40:30 Century bonds: de facto US debt default
44:46 Private investors de-dollarize too
45:25 Post-US dollar world
47:14 Economist Kenneth Rogoff
48:09 Trump's own Nixon shock
48:51 Multipolar financial world
50:46 Outro
Please consider supporting us at https://GeopoliticalEconomy.com/Support