By Sangita Gazi and Christabel Randolph In a 2022 report, International Monetary Fund (IMF) states that ‘[t]he dollar’s share of global foreign-exchange reserves fell below 59 percent in the final …
SWIFT will have to be broken up, where one becomes a European only with the EURO as it’s trading currency.
I’d wish we could decentralise it even further, but that’s going to defeat the purpose, isn’t it?
I used to think SWIFT was just a transaction system, but we can see how economy on a global level is truly all about political power - ideals be damned.
The liberal dream truly is dead. Long live economic feudalism.
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That’s the entire point of dedollarization, though: options means that countries can switch to another option if one country’s currency isn’t reliable
SWIFT will have to be broken up, where one becomes a European only with the EURO as it’s trading currency.
I’d wish we could decentralise it even further, but that’s going to defeat the purpose, isn’t it?
I used to think SWIFT was just a transaction system, but we can see how economy on a global level is truly all about political power - ideals be damned.
The liberal dream truly is dead. Long live economic feudalism.