Global Flight From US Dollar Is Now Irreversible, Reports Say

According to the latest reports, it seems that the flight from the US dollar is now irreversible. Check out the latest reports here.

Russian foreign minister Sergey Lavrov said recently that a global flight away from the US dollar is now irreversible and set to accelerate.

According to a report by TASS, a Russian-state-funded news organization, Lavrov said at a press conference that a lot of nations are essentially ignoring sanctions and threats from the US and Western Europe. Such a move will be expanding their economies and trade networks on their own accord.

Lavrov said that CIS (Common Wealth of Independent States), or countries formerly part of the Soviet Union, have already grown their trade flows by a significant chunk without complying with the US’ demands.

“We are starting to see a flight from the dollar. So far, it is not all that swift, but it is sure to accelerate. In fact, this trend is irreversible. The US has already, for real, sawed off the tree limb that it was perched on, managing global financial flows and the world economy as a whole by leveraging the dollar’s dominant role…”

He continued and said the following:

“Despite the threats that our partners have received from the US and the European Union not to cooperate with the Russian Federation and the Republic of Belarus under pain of so-called secondary sanctions and other penalties, trade flows across the CIS are growing. [Trade] edged up by more than six percent last year, amounting to over $100 bln.”

A popular crypto analyst has just revealed the fundamental reasons why a decentralized finance (DeFI) altcoin is one of his highest conviction plays for the next bull rally.

The pseudonymous analyst known as Credible Crypto said recently that he has his radar locked on Convex Finance (CVX).

Convex Finance is a DeFi platform that has been created to let users of stablecoin exchange Curve Finance to boost their rewards. Check out the previous article for more details