White House spokeswoman Karin Jean-Pierre was asked what the Biden regime was doing about countries switching away from US Dollars and using their own currency as settlement of foreign trade. Her response was stunning . . . .
"Switching to national currencies is a violation of the rights of American citizens."
The White House then threatened with sanctions those countries that refuse the dollar in mutual settlements.
It's already trending on social media:
"Switching to national currencies is a violation of the rights of American citizens." The White House threatened with sanctions those countries that refuse the dollar in mutual settlements.— dana (@dana916) April 1, 2023
Is there no end to the embarrassing statements of our White House? The incompetence of… pic.twitter.com/nqB0KQ8ubF
So there you have it. Countries around the world have, IN FACT, either stated their intention to cease accepting the US Dollar, or have already begun refusing the US Dollar.
The White House has now tacitly acknowledged it.
This is now a slow-moving train wreck for the United States. Our federal government has abused so many countries with our "economic sanctions" and has done it for so long, that countries around the world have begun rejecting the US dollar as a means of payment for international trade.
If countries no longer accept the US Dollar, then the US Government has no means by which to impose economic sanctions. The US Government becomes toothless against all those foreign nations.
On top of the economic sanctions abuse, that same US federal government has over-spent by so much, and run-up so much debt, that the world is rapidly losing faith that the US dollar will have __any__ value at all.
What this means for you and me here in the USA, is that hyper-inflation is already on its way.
For almost 100 years, the US Dollar has been __THE__ currency for the world. It has been the only reliable currency for everyone.
No matter what country chose to trade with any OTHER country, both countries knew that settling the trade in US dollars preserved the value of their trade and was a rock-solid measure of value.
In order to be able to smoothly carry out those foreign trades, central banks all over the world, kept a supply a US Dollars in their central banks, so trade could be settled.
As of right now, at least six point four TRILLION U.S. Dollars, are resting in the central banks around the world.
As more and more countries cease using the dollar, foreign banks will no longer need to keep those dollars in their central banks.
Those dollars will begin to come home to the USA.
As those dollars come home, the value of the US dollar, against foreign currencies, will begin to drop. (Because nobody will want the Dollars)
Now, we here in the USA don't manufacture much of anything anymore. Thanks to the corporate imbeciles who pushed us into becoming a "service economy" much of our manufacturing was shipped out to foreign countries.
Then, thanks to the other imbeciles who pushed "Free Trade" we removed Tariffs from foreign goods imported into our country. The idea was sold to us by the "Free Trade" shysters who claimed that if the US dropped tariffs, then all other countries would drop tariffs and that would mean American-made products would be cheaper overseas, thereby increasing demand, thereby increasing American jobs.
THAT WAS A FRAUD.
The people pushing "Free Trade" had no intention at all of selling American-made products to more foreign countries. What they ACTUALLY wanted was to ship American JOBS to foreign countries, use the cheap foreign labor, then sell those same products back here in the USA for the same high prices and without Tariffs! That allowed the manufacturers to pocket the increased profits from using cheap foreign labor but still sell the same good here in the US for the same high price.
In the end, it was only American JOBS that got exported, not American products.
So we now see the result of the "double-whammy." Hit #1 was when we changed to a "service economy". Hit #2 was when we bought into the "Free Trade" lie which allowed corporate Boards of Directors to move manufacturing jobs OUT of the USA to pocket the profits from cheap foreign labor.
Which brings us back to the value of the US Dollar. Since we don't manufacture much here anymore, and have to buy MOST of the things we use from foreign manufacturers', as the value of the dollar plummets, everything we need to buy will become FAR more expensive; several hundred percent more expensive!!!
This is what YOUR members of the US House of Representatives, and YOUR members of the US Senate have done. They have abused so many countries with the threat or actual application of economic sanctions, that those countries are now abandoning the US dollar AND, they've so over-spent that people worldwide now see the US Dollar as being UNRELIABLE and heading toward being worthless.
YOUR member of Congress caused this.
YOUR member of the Senate caused this.
When YOU cannot afford food and YOUR family is going hungry . . . or when YOU cannot buy the typical normal things that every family needs . . . .remember that when you see your members of Congress and the Senate on the street.
When you see them, hold them accountable right then and there.