DOLLAR HEGEMONY SHAKEN! Can the Gold Standard Restoration Save It?|AsianQuickTake

In this episode, we explore the global phenomenon of “de-dollarization“ and its potential impact on the U.S. dollar’s status as the world’s primary reserve currency. Recent developments include the introduction of the “Gold Standard Restoration Act“ () by four U.S. Congress members. This bill addresses the U.S. dollar’s continuous depreciation since it was detached from the gold standard in 1971, contributing to global “de-dollarization.“ The Russia-Ukraine conflict prompted Western countries, including the United States, to impose sanctions on Russia, eroding trust in the U.S. dollar and sparking a global “de-dollarization“ movement. Contrary to some beliefs, “de-dollarization“ is a significant concern for American elites, as evident from the introduction of this bill. However, the bill’s success is uncertain due to excessive dollar supply in the U.S. and an ongoing banking crisis. “De-dollarizati