Concerns are mounting over the viability of the U.S. dollar as a world reserve currency. Meanwhile, China, Russia, and their allies are hatching plans for their own currency blocs.
The U.S. dollar has long been the world’s reserve currency. However, a new world order appears to be emerging from the East.
The moves come as the American banking and financial system teeters dangerously close to collapse again. Several high-profile banks have seen trouble this year, and it is only three months old.
Over the weekend, Breitbart economics editor John Carney appeared on Fox News to air his views. He said it was inevitable that the USD would not be the world’s reserve currency in the future.
Distancing From the Dollar
He noted that the dollar’s dominance is starting to drift away, adding:
“China and Russia are starting to build an alternative block of currency.”
On potential tipping point could be…