Drudge Retort: The Other Side of the News
Friday, October 12, 2018

U.S. leverage in diplomacy and trade has depended heavily on the dollar's global role. But Trump's weaponization of the dollar may be making the effort by Russia and others to "de-dollarize" more realistic.

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Thanks Republicans.

#1 | Posted by Sycophant at 2018-10-12 04:19 PM | Reply | Newsworthy 2

Regardless, the world is learning a valuable lesson.

#2 | Posted by fresno500 at 2018-10-12 06:29 PM | Reply

For every action there is an equal and opposite reaction

#3 | Posted by ajwood at 2018-10-12 06:34 PM | Reply

Rubles and Yuan sure aren't an alternative.

#4 | Posted by SheepleSchism at 2018-10-12 06:38 PM | Reply

The European Union has announced that it will create a special financial infrastructure to continue trading with Iran, despite the threat of "secondary sanctions" from Washington. It will have to be built from scratch, to effectively avoid any use of the US dollar or the global banks and financial circuits that fall under US regulation. The EU, whose own currency, the euro, is a potential contender to take the dollar's place, has indicated that other signatories of the Iran nuclear deal, such as Russia and China, might have access to their new payment system for "legitimate" trade with Iran.

Taken together the EU economy is larger than the US economy. On average they are far and away a better educated population, which is the single most important factor driving economic growth. They lack the vast natural resources of the USA and Russia.

We don't need to wage war with anybody.

#5 | Posted by bayviking at 2018-10-12 07:27 PM | Reply

We are only 4% of the worlds populatiom. Our major competitor has nukes and more people. Baby boomers are dying off with them goes the vestages of ties.our military glory. Soon WW2 victory is going to be forgotten... so will US superiority

#6 | Posted by RightisTrite at 2018-10-13 02:36 PM | Reply

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Drudge Retort