#multi-polar
Richard Wolff on de-dollarization and the decline of the US empire
Key points from Richard Wolff:
* The reserves in central banks has been as high as 78% in dollars but are now at 40% dollars
* The #sanctions placed on #Russia has accelerated the process of #de-dollarization because countries can no longer #trust that the dollar is not going to be used as a #weapon against them
* He is worried that people in the #US don't understand that the US is declining and what this means for the #economy in the US
* There are two paths for the future, either ...
* ... #China taking over the position of the US
* ... or a #multi-polar world