De Dollarization? Why, When, What?

The US Dollar is the worlds reserve currency. With global QE it looks like we are in a quasi currency war with the Euro, Yen, Yuan and oil. There is talk that the US may lose
it’s reserve currency status in the future. What will replace it? A basket? Bit Coins? How likely is this to happen? How soon will this happen?

Undoubtedly the process of de dollarization is unwinding. This partly is due to US sanctions on foreign nations e.g Russia. Who have been forced to develop direct trade with partners settling in direct conversion from importer to exporters currency for settlement. Thus passing the necessary conversion of their own currency into USD. Russia also developed an alternate to the SWIFT monetary system. The Brics have also set up their own development bank to compete with the World Bank. Many countries are repatriating their gold holding from the US. There is also a movement by the financial troika to ban cash and make a completely cashless society where spending/transactions are completely digitally controlled through the worlds exchanges/banks.
In light of these events the USD is loosing it’s reserve currency status. The big question is what will emerge to take over.
China’s yuan currency, which Washington has long alleged was manipulated, is “no longer undervalued”, the International Monetary Fund said on May 26th 2015. It is being internationalised (embraced onto global systems).
There will most likely be a reset of global debt and currencies will all be revalued relative to their debt and assets. There will be some kind of new currency created with the backing of precious metal and or a blend of currencies with the Yuan making up the largest % of that basket. It could be through SDR’s i.e Special Drawing Rights. However as well as gold, bitcoin is likely to do well during the global currency reset due to people looking to preserve wealth by buying portable assets!

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