The Dollar is Fading Warns the IMF

Panama, whose monetary-financial nomenclature is based on the US currency and circulates as a national currency, should not be alarmed.  The International Monetary Fund (IMF), which no one hides is the financial instrument par excellence of big capital, particularly in the United States, surprised many when in its latest report at the end of the year, it warned that “the dollar is fading,” and caused a nervous breakdown for some.  Panama, whose money is based on the US currency and circulates as a national currency, should not be alarmed by the unexpected opinion of the IMF, which may affect Washington more than anything else, by predicting dangers for the global schemes of the international market based on the greenback. 

One might think that this is a media resource by the multilateral body to justify Donald Trump’s outbursts against the BRICS, but the fact of de-dollarization is true, as is the fact that the diversification of international reserves has become widespread in dozens of countries.  The United States replaced the gold backing of its currency in 1973, and since then the guarantors of its currency have been its high material and technological production, its significant GDP and the number of countries that hold the currency, such as Saudi Arabia, China itself, Japan and others, which accumulate mountains of these banknotes in their international reserves, which gives it added value.  If these countries give up on it and start to sell off, the dollar will collapse and the global monetary and economic crisis would be enormous. Imagine how terrible a run by dollar holders to other currencies would be when it is estimated that more than 70% of the gross mass of greenbacks is distributed outside the borders of the United States. But for now, that is fiction.