USD in further decline

The mainstream media keeps on pushing the narrative that there is no such thing as a USD decline. On the other hand, if you independently look for information and if you pay attention to the small economic news you might come to a different conclusion.

A week ago we learned that Vietnam, the Philippines, and Brunei have joined a cross-border QR payment scheme. As Nikkei Asia reports:

"Vietnam, the Philippines, and Brunei will join other major Southeast Asian economies in an interconnected QR code payment system that aims to promote the use of local currencies and reduce dependence on the U.S. dollar."

In Washington everything is OK. For them, nothing has happened. They still don't want to wake up to the reality that countermoves need to be made. My biggest concern is that those moves will be made the old way, which isn't working. China and Russia are already waiting for those clumsy moves. But hey, maybe I will be pleasantly surprised, and the US administration will finally do something smart.

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