Powell: Expects dollar to remain global reserve currency

Russia had 10% of all USD reserves that were frozen, leading to this decline. It exports 10% of the world’s oil, which was also done in dollars. After Nixon asked the Arabs to use dollars to trade oil, countries hoarded them to buy oil. China has 50% of all USD reserves, which means out of that 58%, it has around 29%. It has about 5% of all US debt, and 20% of their foreign debt. The interest is paid in USD. If these payments and China’s reserves are also frozen for invading Taiwan, the ratio of USD as a reserve currency will go down to less than 30%. With Russia already selling 10% of all of the world’s oil in currencies other than USD, countries don’t have an incentive to use the dollar. China imports 15% of the world’s oil. It has already made deals to buy it in Yuan. Geopolitics and declining hard power, caused by declining and aging populations, wasteful spending on things like mind control, pointless mass scale collection of metadata, and monitoring and surveillance are to blame.

Hes talking through his hat.the dollar is an exposed and soon to be dead ponzi scheme

It would be foolish to expect him not to say so.