from Zero Hedge
Authored by Alex Newman via The Epoch Times (emphasis ours),
The trend away from the U.S. dollar in global trade and finance is accelerating rapidly as inflation persists, government debt levels explode, and the Chinese Communist Party (CCP) roams the planet negotiating deals in other currencies.
The economic and political implications of the dollar’s possible loss of its prized status as global reserve currency are hard to overstate, according to experts.
In fact, such a development—if and when it occurs—could prove catastrophic to U.S. consumers as their spending power evaporates, economists are warning amid debt-ceiling negotiations that have sent tremors around the world.