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King Dollar Risks Being Dethroned November 2021, Bill Campbell – November 2021
Posted: Tuesday, November 16, 2021

For three quarters of a century, the U.S. dollar has reigned supreme as the world’s reserve currency. Even amid America’s declining share of the global economy and, since the Global Financial Crisis (GFC), massive monetization of the U.S. national debt, countries outside the U.S. had few alternatives to transacting cross-border in dollars and maintaining large foreign-exchange (FX) reserves in dollars. I believe the end of this era of dollar supremacy is underway. New financial regimes are busy rewiring the world’s monetary and payment systems. New cross-border payment systems and regional trade agreements are laying the infrastructure for a post-dollar financial order. Blockchain technology has already begun to provide a new system in cross-border payments aided by stablecoins and central bank digital currencies.

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