On and off, we hear many analysts and experts talking about dedollarization and collapse of US dollar in the near future. But really, what are the chances of that happening?
The US dollar global exchange market is extremely huge. A number of countries actually use the dollar as their national currency. To name a few, Panama, Ecuador and Zimbabwe. Nearly 90% of international business activities are conducted using the dollar. Even gold, silver and other precious metals are priced in US Dollar!
While the US debt continue to balloon, the US dollar shall continue to be the dominant world currency because there are simply no better alternative. The worsening financial system will support gold and silver prices in long term. However, gold and silver cannot fill the role and functions of the dollar internationally.