Here’s why experts say Russia and China’s attempts to ‘de-dollarize’ global markets are going nowhere

MarketsInsider/Jennifer Sor/3-6-2023

“Russia’s attempts to combat the supremacy of the US dollar are unlikely to work, experts say, even as the country cozies up to China in a move to challenge the greenback with an alternative reserve currency.”

USAGOLD note: As our regular readers already know, we agree with this assessment, i.e., de-dollarization is going nowhere. That however is not the key issue for the average investor. The real problem is the constant depreciation of the dollar against goods and services over the long run. That needs to be properly hedged and that is what gold investors have accomplished since the gold and the dollar de-linked in 1971.

Gold and the purchasing power of the dollar
(1971-2022)

Chart courtesy of TradingView.com • • • Click to enlarge