Donald Trump said he wanted to save the dominance of the US dollar as the global reserve currency, but his aggressive tariff threats and trade war are accelerating dedollarization. Countries and foreign investors are selling US stocks and bonds (Treasury securities, ie, US government debt), seeking alternative reserve assets. Ben Norton explains.

VIDEO: https://www.youtube.com/watch?v=VnWnyL3WGjg

Topics

0:00 Donald Trump's plan

0:24 (CLIP) Trump on dedollarization

0:51 (CLIP) Trump on dollar dominance

1:23 Dedollarization

2:00 BRICS

2:48 Financial markets are de-dollarizing

4:11 Blowback

5:06 Trump's "Liberation Day" tariffs

5:25 Trade war on China

5:49 US "grand encirclement" plan

6:35 China & Vietnam deepen ties

7:11 China, South Korea, Japan cooperate

7:56 Japan pushes back against USA

9:16 US bond market problems

10:43 Foreign holders of US Treasuries

11:13 China's US Treasury holdings

12:17 China is de-dollarizing

12:46 US asset seizures

14:03 China's dedollarization

15:17 Mar-a-Lago Accord means default

16:58 China de-dollarizes its reserves

19:00 Central banks buy gold

20:53 Gold price skyrockets

22:05 USD falls against yen & euro

23:21 Japanese & European bonds

24:35 Exchange rate risk

25:22 Japanese investors sell US assets

27:26 Dedollarization accelerates

28:37 Multipolar currency world

29:46 US current account deficit

30:40 Foreign holdings of US Treasuries

31:57 Scott Bessent fails to lower yields

32:30 Interest payments on US debt

33:20 Federal Reserve chair Jerome Powell

33:58 Dedollarization will continue

34:52 Outro