De-dollarization is growing around the world. Central banks are buying tons of gold, which overtook US Treasury securities in reserves in 2025. Even private investors are diversifying out of dollar assets, as risk rises. Ben Norton explains how Washington's sanctions, Trump's tariffs, and the weaponization of US-dominated international financial institutions have backfired.
VIDEO: https://www.youtube.com/watch?v=hVjy1Hlh5zc
Topics
0:00 Dedollarization increases
1:36 US sanctions backfire
2:20 Donald Trump threatens BRICS
2:49 Central bank holdings of US Treasuries
3:59 China de-dollarizes
5:29 US trade war on China failed
7:10 Foreign holdings of US bonds
8:09 Government vs private investment
9:53 Central banks buy lots of gold
10:51 No return to gold standard
13:30 Gold as neutral reserve asset
14:28 Gold overtakes US Treasury holdings
15:07 Gold price skyrockets
16:18 Nixon Shock to Trump Shock
17:08 This is not just about Trump
19:04 2008 financial crisis: turning point
20:48 Western seizure of Russia's assets
22:26 Ukraine war fuels gold purchases
23:21 Central bank undeclared gold buying
26:04 Uruguay dedollarizes
27:48 Argentina's Javier Milei
28:40 Sovereignty vs imperialism
29:09 Investors de-risk out of US assets
33:37 Decline of US dollar dominance
34:14 Global South de-dollarizes trade
35:35 New BRICS payment systems
36:25 Internationalization of renminbi
37:15 Financial multipolarity
38:48 Outro
