I have said since the onset of the Ukrainian war that Western actions led by the United States Government was playing directly into Russia and Chinas hand because most of the non-western world sees the Government of Ukraine since 2014 as an American puppet state not an independent Democracy. I said that China and Russia would highlight American Economic warfare by way of sanctions and asset seizures as mechanisms to influence and control the internal policies of other nations. Then leverage that to encourage de-dollarization.
I also speculated that to sweeten the pot and lure countries away from paper Federal Reserve Notes that China and Russia would offer up a Gold backed currency to use for trade. The ultimate result of this being countries could continue to trade away resources and production for American paper backed by Faith and Credit or they could choose to exchange their goods and services for Gold.
I received a lot of flack for that in private messages and emails. These naysayers argued that it would never happen, gold wouldn’t be that attractive to other nations anymore, or that America doesn’t interfere in internal affairs of other nations to a point that other nations worry about it (yes someone actually thinks that). Anyway we will find out very soon as the gold eastern trade currency is launching (here). There are over 60 nations lined up to join and chief among them are the Middle Eastern oil producers including Saudi Arabia. That would be the end of the Petrol-Dollar and the last peg propping up American fait globally.
God Bless You
-Sam