The dominance of the US dollar as the global reserve currency has been gradually declining for years, but Donald Trump's policies could rapidly accelerate de-dollarization and the transition to a more multipolar international financial order, warn even mainstream American economists like Barry Eichengreen and Kenneth Rogoff. Political economist Ben Norton reviews the evidence.

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Topics

0:00 Dedollarization

0:43 Trump's policies accelerate dedollarization

3:50 Economist Barry Eichengreen

5:25 (CLIP) Barry Eichengreen on dedollarization

6:54 Gradually, and then suddenly

7:49 Erosion of dollar dominance

9:18 Decline of US economy

11:36 Rise of China

12:50 Gold: why central banks keep buying it

15:42 Western sanctions

17:57 List of reasons driving dedollarization

18:42 Trump's tariffs & US trade deficit

20:10 Trump pressures Federal Reserve

22:58 Why Trump wants low interest rates

24:56 US Treasury market volatility

26:03 Fewer foreigners want US government debt

29:32 US economy: a financial house of cards

30:34 High corporate bond yields

32:26 Reasons driving dedollarization

32:56 Inflation

36:31 Trump fires BLS chief

37:40 Mar-a-Lago Accord plans

38:54 (CLIP) Trump economic advisor Stephen Miran

38:59 Plaza Accord redux

40:30 Century bonds: de facto US debt default

44:46 Private investors de-dollarize too

45:25 Post-US dollar world

47:14 Economist Kenneth Rogoff

48:09 Trump's own Nixon shock

48:51 Multipolar financial world

50:46 Outro