France Calls for a ‘Rebalancing’ of the World Economy (Source Last week French Finance Minister Michel Sapin spoke out against the United States’ dollar’s standing as the world’s reserve currency. Upset with a $9 billion fine leveled by the U.S. against French bank BNP Paribas for helping nations like Sudan and Cuba avoid U.S. sanctions, Sapin called for a “rebalancing” of currencies used to make global payments. Translation: The dollar has to go. America could eventually lose a lot of customers for U.S. dollars. The BRICS nations make up roughly one third of the world’s population and 25 percent of the global economy, and they are trying to move away from the United States as quickly as possible. It’s not only Asian nations like Russia, China and India that are becoming increasingly opposed to America. Europe is concerned too as it tries to right its struggling economy and now faces a belligerent Russia, which some nations feel U.S. policy has exacerbated. France has made its disgust known. The spying scandal in Germany has newspapers saying the U.S.-German relationship has never been lower. Poland reportedly claimed its relationship with America is “worthless.” Nation after nation is starting to turn away from America and looking for alternative allies. That may be the biggest threat to the U.S. dollar. It’s not that a grand rival currency currently exists, it’s that everyone is disgusted with America and its dollar. Even if alternatives are equally bad, or in some aspects worse, the political impetus to adopt them anyway—just to spite America—is growing.

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