Alternative Visions - De-Dollarization (continued) + Banking Crisis Updates

 Dr. Rasmus picks up the discussion on the global de-dollarization trend from last week, focusing on the Congressional Budget Office’s April Report “The U.S. Dollar as an International Currency and Its Economic Effects” analysis—i.e. the official US govt view of the trend.  How accurate is the CBO Report’s conclusion that the Euro poses no threat to displace the dollar (and actually will decline) and that the threat from the China ‘Yuan’ currency is currently minimal, will rise only gradually, and even if China economic growth significantly exceeds the USA’s, the use of its currency is held back by China policies. CBO identifies 3 ‘wild cards’ that may accelerate the dollar’s decline (as both reserve and trading currency): world war, severe financial crisis in US, shift to digital currencies. Rasmus critiques the report by ignoring current developments like US sanctions and war in Ukraine driving a shift from the dollar to a expanded BRICS-based currency. The show also addresses the latest events in the US banking & financial system instability, specifically today’s announced failure and coming govt bailout of First Republic bank, and the growing instability in the US commercial real estate market.