The Fall of the Dollar: A Shift in Global Economic Power

India and China together produced over 50% of global GDP for 1,700 out of the last 2,000 years, showing Asia's historical wealth. But the last 300 years saw colonial loot by the British, whose savings built many Western countries including the USA, Canada, and Australia.

The US dollar became the global reserve currency after 1971, when President Nixon removed it from the gold standard. In 1973, a deal with Saudi Arabia made oil trade in US dollars in return for security, starting 50 years of “petrodollar” dominance.

But now, this system is collapsing. From 2016 onwards, Asia started de-dollarizing and buying gold and silver. In 2022, India nearly emptied London’s bullion market. As Asia regains precious metals, the US dollar’s dominance is fading.

Once BRICS currency (Brazil, Russia, India, China, South Africa) launches, with 13 countries interested, the US and European social benefit systems like Medicaid and retirement pensions will face cuts. With fiat currencies collapsing, Western lifestyles could drop by 60%, especially if manufacturing returns from Asia.

This is the beginning of a new economic world order led by Asia.

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