All currencies have become extinct at some point of time. In the next five years, the American dollar will become extinct.
Israel’s central bank has slashed the share of dollar and euro in its reserve holdings and added the Chinese yuan for the first time. The share of the dollar in Israel’s reserve will come down from 66.5 to 61 percent; that of the euro from 30 to 20 percent.
Russia, China, India, Brazil, and the nations in the Middle East and Western Europe are taking steps to reduce their exposure to the dollar. For fifty years, Saudi Arabia sold its oil in dollars. Now they are negotiating with China to finalize a yuan-based oil deal.
The writing is on the wall: America is a dying predator, and the dollar-apocalypse is on the verge of being unleashed. All nations (including America and its Western allies) have to prepare for the oncoming dollar-apocalypse.
As the American economy continues to tumble, the movement away from the dollar will become a stampede. The central banks will flee from the dollar as the wildebeests, zebra, and deer in the African savanna flee from the lions, cheetahs, wild dogs, and hyenas.
The extinction of the dollar will mark the end of the age of paper currency, which began in the 1970s when Nixon delinked the dollar from gold. To create alternatives to the dollar, many nations will peg their currency to gold—this is something to look forward to.