alt Hacker NewsThe dollar has lost 13% vs the South African Rand in the past year. Thats an interesting metric for me given how South Africa has decoupled from the US in favor of China and Russia, with a strong anti-Israel stance. And also taking into consideration how the country is still struggling with crime, corruption and uncertainty.
It’s doing to be interesting to see how this plays out as the producers and makers of the world unite, and the EU turns away from the US.
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Dollar has also lost like 99% vs the South African Kruggerand since 1967.
But is the exchange rate really the right metric for the "weakening" due to de-dollarization? Especially since world states decoupling from the US would try avoiding both transactions which gain them USD and which require paying USD?
>given how South Africa has decoupled from the US in favor of China and Russia
That's the party line & there have been some eye catching military exercises and statements to this effect, but daily life is still very much western aligned. It exports a ton of ore to china and imports a bunch of things from there certainly...but that's kinda just every country these days isn't it.