Even though the dollar surged recently against the Yen, and as a result of the Greek financial crisis some countries are obviously ditching the dollar in attempt to create greater long term economic stability. Some economists shouted from the bastions of Twitter “The Dollar is Dead”, yet those same economists are having to eat pie because it’s obvious the dollar is strong, and alive. The dollar remains strong. But here is a list of countries who have left the dollar behind.
“In early 2014, Justin Yifu Lin, the former World Bank Chief Economist, blamed the dominance of the US dollar for global economic crises and said it should be eliminated as the world’s reserve currency. According to Lin, the solution would be to replace the national currency with a global currency.
In the recent months, several countries, including Russia, China, India and Turkey, have decided to ditch the US dollar in their foreign trade, often paying for products in gold or other agreed on currencies.” via Sputnik News
The dollar is dead. Long live the dollar.