In the Global South Gold-backed Currencies are on the Way Towards Replacing the Dollar

Internationally we hear about the currency trading wars between the dollar and its rival currencies in China and Russia.  But what about in the global south? From this article it seems clear that most countries are moving away from the dollar. Pepe Escobar describes how that is happening. But there is another issue which has to do with what the back-up currency will be – gold or something else? In parts of the global south natural gas is even being floated as a back-up currency.
Read Pepe Escobar in The Cradle

Leave a Reply

Your email address will not be published. Required fields are marked *