The United States dollar (USD) could suffer another huge blow that could send it down the drain as heads of the Shanghai Cooperation Organization (SCO) member states have made a landslide decision to conduct the majority of transactions in national currencies instead of the American dollar , following Iranian President Ebrahim Raisi’s proposal to ditch the dollar eventually.
Raisi warned against the world’s dependency on USD in global exchanges and pointed out the importance of de-dollarization to form a just international system, during a speech at the July 4 virtual 23rd SCO summit that was held after Iran gained full-fledged membership in the bloc. “Based on the experience of the past decades, it is now obvious that militarism and the dominance of the dollar form the bases of the Western domination system,” the president stressed. “Therefore, any […]
Excerpt Sourced From: discernreport.com
