Donald Trump said he wanted to save the dominance of the US dollar as the global reserve currency, but his aggressive tariff threats and trade war are accelerating dedollarization. Countries and foreign investors are selling US stocks and bonds (Treasury securities, ie, US government debt), seeking alternative reserve assets. Ben Norton explains.
VIDEO: https://www.youtube.com/watch?v=VnWnyL3WGjg
Topics
0:00 Donald Trump's plan
0:24 (CLIP) Trump on dedollarization
0:51 (CLIP) Trump on dollar dominance
1:23 Dedollarization
2:00 BRICS
2:48 Financial markets are de-dollarizing
4:11 Blowback
5:06 Trump's "Liberation Day" tariffs
5:25 Trade war on China
5:49 US "grand encirclement" plan
6:35 China & Vietnam deepen ties
7:11 China, South Korea, Japan cooperate
7:56 Japan pushes back against USA
9:16 US bond market problems
10:43 Foreign holders of US Treasuries
11:13 China's US Treasury holdings
12:17 China is de-dollarizing
12:46 US asset seizures
14:03 China's dedollarization
15:17 Mar-a-Lago Accord means default
16:58 China de-dollarizes its reserves
19:00 Central banks buy gold
20:53 Gold price skyrockets
22:05 USD falls against yen & euro
23:21 Japanese & European bonds
24:35 Exchange rate risk
25:22 Japanese investors sell US assets
27:26 Dedollarization accelerates
28:37 Multipolar currency world
29:46 US current account deficit
30:40 Foreign holdings of US Treasuries
31:57 Scott Bessent fails to lower yields
32:30 Interest payments on US debt
33:20 Federal Reserve chair Jerome Powell
33:58 Dedollarization will continue
34:52 Outro
