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The US dollar is gradually losing its dominance, and foreign central banks are buying fewer Treasury securities, instead holding more gold in their reserves, warns Mohamed El-Erian, a mainstream American economist. Ben Norton discusses how countries are seeking financial alternatives, especially Global South nations around BRICS. BRICS plans ‘multi-currency system’ to challenge US dollar dominance: Understanding Russia’s proposal - Topics 0:00 Western media cope on de-dollarization 2:53 Renowned US economist warns de-dollarization is happening 4:55 Gold price rises despite inflation falling 7:18 BRICS seeks alternatives to US dollar dominance 9:04 Sanctions, reserves freezes, weaponization of US dollar system 11:23 Holding gold in reserves is not bringing back gold standard 13:08 Central banks buy lots of gold 14:40 West's economic war on Russia failed 15:34 US-Israel wars in Middle East (West Asia) 17:18 “Erosion“ of US dollar hegemony 18:56 US government debt and Treasury market 24:39 USA now spends more on debt interest than military 25:09 China dumps US Treasury securities 25:59 Europe, Canada, Taiwan buy US Treasury bonds 27:57 Outro || Geopolitical Economy Report || Please consider supporting us at Patreon: Podcast: Newsletter:
