This post is coming from all the hype that we have all heard around the end of the dollar. Most of this is completely unfounded, and the beginning of this “de-dollarization” hasn’t started, nor will it ever start. Now some might say that this is a bold claim, but some things need to be understood in how this all functions, and what I see today that has brought me to the conclusion that the dollar will reign supreme for much much longer. In this I will touch on the importance of invoicing, settlement, FX Swaps, and other issues around this and why I believe the idea of BRICS is so overblown.
Excellent piece. Glad to see you back writing on Substack!
Thank you for this amazing succinct, and well structured analysis!