nostr:npub1mh5a6mhm4u78glqxhltq7uexv6kddphycthlguvn0ux8ch72tc8q6q233h

>they keep their money in dollar bank accounts

not any more since their assets are getting seized left and right in western banks.

also BRICS and others are making oil deals not denominated in dollars. the age of the petrodollar may be coming to an end (and the US empire)

Assets of a few people were frozen, and yes, that did cause a lot of consternation. But nobody is seriously moving away from the dollar.

BRICS-Coin is a meme, petrodollar is also largely a meme, the petrodollar system did exist for a few years in the 70s, but what floats the dollar now is the fact that it has the deepest credit markets. If you want to borrow money, you borrow USD, there just isn't any competitor out there.

The Dollar is weakening, but it is at a snail's pace and the US is far closer to a revolution in the oligarchy than it is to a loss of global dollar dominance. There is one caveat however: The USD may collapse if it is intentionally collapsed by the US government.

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nostr:npub1mh5a6mhm4u78glqxhltq7uexv6kddphycthlguvn0ux8ch72tc8q6q233h

>petrodollar system did exist for a few years in the 70s

not just the 70s. until recently most transactions for oil were made in dollars. the dollar's status as the world's reserve currency is on the way out. major countries not using dollars to trade oil is a fairly recent development