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According to renowned finance guru Matthew Piepenburg, countries around the world have begun an irreversible process of decoupling from the US currency. Piepenburg, the partner at emerging markets-focused Matterhorn Asset Management, believes that economic powerhouses are now plainly aiming to “break ranks” with dollar domination in a new interview with the Soar Financially YouTube channel from the Deutsche Goldmesse conference. 
He claims that the Federal Reserve’s increasing of interest rates in the United States is forcing countries such as China and Russia to develop non-USD settlement arrangements. 
Apart from China and Russia, which are both members of the BRICS coalition, the family office guru claims that 41 other countries are now following suit, maybe due to the way the US has treated Russia during its fight with Ukraine. 
“As the dollar rises as a result of Powell’s rate hikes, it becomes more onerous and painful for the rest of the world, and they begin to break ranks.” Asia in general, and China and Russia in particular, are world-beating powers. Of course, they’re bringing 41 other countries on board to establish trade settlements that aren’t based on the US currency. 
So there’s no doubt that the dollar is being weaponized, even the petrodollar, because there are dangers to the petrodollar market, demand for the petrodollar, and the strong dollar. For years, a strong dollar was a true stomach blow. It became even more of a gut punch when we militarized that dollar by taking Russia off the STR and SWIFT and, of course, freezing its FX reserves. As a result, neighboring countries raised their eyebrows in alarm, and we reconsidered our options for circumventing the currency.” 
The investor believes that the yuan, or any other currency, will not replace the dollar as the world reserve currency anytime soon. He does, however, see a “clear trend” of countries around the world abandoning the dollar as the primary, trusted medium of exchange. 
“The clear trend of abandoning the US dollar as a trusted, reliable, and dependable trade currency and payment system is now, I believe, irreversible.” 
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The post <a rel="nofollow" href="https://bitcoinworld.co.in/brics-and-41-other-countries-plan-to-align-against-us-dollar-now-irrevocable-investor-matthew-piepenburg/">BRICS and 41 Other Countries’ Plan To Align Against US Dollar Now ‘Irrevocable’: Investor Matthew Piepenburg</a> appeared first on <a rel="nofollow" href="https://bitcoinworld.co.in">BitcoinWorld</a>.

BRICS and 41 Other Countries’ Plan To Align Against US Dollar Now ‘Irrevocable’: Investor Matthew Piepenburg

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