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France Deals Major Blow To U.S. Dollar—E.U. Next?

Even more bad news has materialized for the U.S. dollar and U.S. global hegemony this week. …

Following a recent announcement from the BRICS countries that they would be moving away from the U.S. dollar in global oil trade, other countries are now following suit. …

This week, France, became the latest country to formally announce a challenge to a U.S.-led global order, French President Emmanuel Macron stated that Europe shouldn’t be dependent on the power of the USD.

I have to stress that this is huge news and incredibly bad for the value of our currency and our living standard.

It is one thing for countries that have a contentious relationship with the United States in the developing world to announce a parallel economy, it is another thing entirely for other Western nations to announce the same thing. …

Here are the latest developments:

According to Breitbart:

Mr Macron, who is a leading proponent of the formation of a fully-fledged EU Army, emphasised the need for “strategic autonomy” for Europe from the whims of Washington.

A key element of this for the French president would be ramping up the European defence infrastructure in order to reduce its reliance on American arms manufacturers.

More extraordinary, however, was Macron’s comments concerning the use of the dollar as the world reserve currency, saying that Europe should look to reduce its dependence on the “extraterritoriality of the U.S. dollar”


Zero Hedge provided this quote from Macron:

“We are in a jungle and we have two big elephants trying to become more and more nervous,” he said.

“If they become very nervous and start a war, it will be a big problem for the rest of the jungle.

You need the cooperation of a lot of other animals, tigers, monkeys and so on,” added Macron.


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