Deepin Moments: 89 Nations Launch De-dollarization, Elon Musk Sees Dollar Being Weaponized


Deepin Moments
May 2, 2023

With the development of the global economy and changes in international political relations, the wave of “de-dollarization” worldwide is attracting continuous attention. According to the US “Business Insider” website, American entrepreneur Elon Musk once again expressed his views on the phenomenon of “de-dollarization” on Twitter on the 25th. He said that if a currency is “weaponized” enough times, other countries will stop using it.

According to the latest international capital flow report released by the US Treasury Department, in February, more than 20 countries around the world sold their US Treasury bonds. At least half of these countries are US allies. For example, Japan sold $22.6 billion of US Treasury bonds in February, the UK sold $25.3 billion, Canada sold $18.8 billion, Germany sold $4.1 billion, Australia sold $3.7 billion, and so on.

China has signed mechanisms for using the yuan to settle oil and gas transactions with countries such as Brazil and Saudi Arabia. ASEAN member countries have also begun accepting yuan settlement and plan to create their own settlement system independent of the US dollar. France has also signed a mechanism for using the yuan to settle oil and gas transactions with China, which is a noteworthy signal. France is not only a member of the European Union but also a member of NATO, but it has also begun to betray the United States.


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