""These are not the actions of enemies. They are the actions of allies and partners who have watched the United States weaponize the dollar-based financial system, and have quietly concluded they need to reduce their exposure to it.""
""That shift, driven by allies rather than adversaries, is what makes the current moment different from anything in the past 80 years of dollar dominance.""
Canada is establishing a $25 billion sovereign wealth fund to reduce its economic dependence on the U.S. France is repatriating 129 tons of gold from the Federal Reserve, selling its old stockpile for $15 billion. This shift is seen as a response to the U.S. weaponizing the dollar-based financial system. Analysts note that these actions are taken by allies, marking a departure from past de-dollarization efforts. The current trend indicates a significant change in the global financial landscape, driven by long-standing partners of the U.S.
Read at Fortune
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