US Dollar System Is Crumbling

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In this video, I discuss the recent move by Russia to diversify its wealth fund away from US dollars and into other currencies and gold, and what it means for the US dollar financial system.

The world is slowly moving away from the US dollar as the primary reserve asset, and the yuan and euro are the two chief competitors.

That being said, fiat currencies will continue to be devalued and stores of value like gold and Bitcoin will continue to see inflows.

At some point, Bitcoin completely demonetizes gold, but not overnight.

Not investment advice! Consult a financial advisor.

Russia removing US dollar assets from wealth fund:
https://www.cnbc.com/2021/06/03/russia-to-remove-dollar-assets-from-national-wealth-fund.html

https://www.themoscowtimes.com/2021/06/03/russia-to-ditch-dollar-from-185bln-reserve-fund-a74098

Biden/Putin summit coming soon:
https://www.cnn.com/2021/05/25/politics/biden-putin-summit-geneva/index.html

Russia's Rosneft switches to Euros:
https://www.reuters.com/article/us-russia-rosneft-tenders-euro/exclusive-russias-rosneft-to-switch-to-euros-in-oil-products-tenders-traders-idUSKCN1VB15J

The rise of the petroyuan:
https://www.scmp.com/economy/china-economy/article/3128103/could-us-sanctions-and-closer-middle-east-ties-fuel-rise

China buying oil from Iran using yuan:
https://www.bbc.com/news/business-17988142

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#USD
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