NumbersGuy

Is There Really a Global 'Cabal' Aiming to Dump the Dollar?

Seems like as a long term strategy having oil trade using a basket of currencies would be a way to slowly wean themselves off the dollar rather than doing it all at once. Maybe the currency basket is weighted based on the amount of oil each currency basket uses? So it starts weighted to the dollar but as China grows (and uses more oil) is slowly moves their way.

They don't just dump the dollar, but the oil countries can slowly wean themselves (probably they're driving it as much as the Chinese) and Chinese can still use all their dollars to buy oil in the medium term as well.