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heres why so many countries are abandoning the dollar in recent days six major economies have announced theyre no longer trading in the US dollar using their own currencies instead these are Russia China Iran Saudi Arabia Brazil and India for some of these countries its political Russia has largely been forced out of the global economy and has been relying heavily on Chinese currency and China would love any opportunity to weaken the U.S hold on the economy likewise Iran is heavily sanctioned by the U.S but what about the others Brazils new left-wing leader president Lula has been moving his country away from the U.S but Saudi Arabia and India are both close allies however that doesnt mean theyre immune to self-interest the US dollar has been devalued a lot recently due to inflation and the lack of a stabilizing Factor like the gold standard but what does it mean in the long run it means that if this trend continues the U.S dollar will just be one of many currencies jockeying for
