Completely agree that the purchasing alone would not drive the value of the dollar down but the change in policy reflects a global loss of trust in the dollar.
Being a reserve currency, means most of its value is in the global trust in it being a “stable” store of value.
Trust is quick to destroy and very slow to build. No country unloading their position wants the value to crash but they all are actively starting to unwind their dollar positions.
The goal is not to tank the dollar but unload it in a way that is most politically and economically beneficial to the EU.
Him: I can make you orgasm without touching you.
Me: bullshit, prove it
Then he proceeded to prove it and I had the best orgasm of my life; only to discover that was the worst orgasm that I would ever have with him…
Economies change slowly. To eliminate the demand for Russian Natural gas on that time scale means that they are going to have to import it from somewhere else.
Economically speaking the only move that justifies that price premium is if one wanted to unload their Dollar position and the time frame needed to do so would align with their fossil fuel reduction timetables.
It is not about them moving to a new reserve currency but unwinding the current position in a way that aligns economically and politically for their own countries.
It is part of a strategy to unload their dollar holdings. Basically buy natural gas from the US.
The value of a dollar is about to be beaten into the ground
It is not going to teach Christianity but to end it.
No Jedi tricks as far as I am aware but damn did he figure me out fast.