https://markets.businessinsider.com/news/currencies/dollar-dominance-global-reserves-china-euro-russia-ukraine-war-greenback-2023-4                                                                                                                        This is a brief but important follow up to yesterday’s post. The article outlines the accelerating decline in the US dollars percentage use in global transactions. However it makes the same mistake as Larry Summers did when focusing on the fact that no other country’s money is going to replace the dollar as the world reserve currency. So what! As long as people trade between themselves in their own currencies (or using gold to facilitate that trade) they don’t need US dollars. The dollars use and need will continue to decline at an accelerating rate. That reflects Hemingway’s line about going broke(bankrupt) slowly and then all of a sudden. Gold will continue to become more important and be used more often for what it is and was meant to be, money. The US dollar will continue to be used less and decline in value.