De-dollarization is growing around the world. Central banks are buying tons of gold, which overtook US Treasury securities in reserves in 2025. Even private investors are diversifying out of dollar assets, as risk rises. Ben Norton explains how Washington's sanctions, Trump's tariffs, and the weaponization of US-dominated international financial institutions have backfired.

VIDEO: https://www.youtube.com/watch?v=hVjy1Hlh5zc

Topics

0:00 Dedollarization increases

1:36 US sanctions backfire

2:20 Donald Trump threatens BRICS

2:49 Central bank holdings of US Treasuries

3:59 China de-dollarizes

5:29 US trade war on China failed

7:10 Foreign holdings of US bonds

8:09 Government vs private investment

9:53 Central banks buy lots of gold

10:51 No return to gold standard

13:30 Gold as neutral reserve asset

14:28 Gold overtakes US Treasury holdings

15:07 Gold price skyrockets

16:18 Nixon Shock to Trump Shock

17:08 This is not just about Trump

19:04 2008 financial crisis: turning point

20:48 Western seizure of Russia's assets

22:26 Ukraine war fuels gold purchases

23:21 Central bank undeclared gold buying

26:04 Uruguay dedollarizes

27:48 Argentina's Javier Milei

28:40 Sovereignty vs imperialism

29:09 Investors de-risk out of US assets

33:37 Decline of US dollar dominance

34:14 Global South de-dollarizes trade

35:35 New BRICS payment systems

36:25 Internationalization of renminbi

37:15 Financial multipolarity

38:48 Outro