The Dominance Of The U.S. Dollar Is Fading Right Before Our Eyes

Saudi Arabia joins Russia as the latest oil-backed nation to eye defecting from the U.S. dollar in favor of China's Yuan.

It was just a couple of weeks ago that I wrote an article arguing that the economic sanctions we have cast upon in Russia, due to its invasion of Ukraine, likely mark the beginning of a period where China and Russia would bifurcate the global monetary system, leading them to eventually challenge the U.S. dollar’s reserve status.

Now, Saudi Arabia is join…