China’s rare earth export controls to accelerate dollar collapse: Analyst

Analyst Luke Gromen argues that the recent announcement by China to impose export controls on rare earth minerals marks a significant shift in the global monetary order, potentially heralding the decline of the US dollar’s hegemony. According to Gromen, these critical minerals are essential for electronics manufacturing and military applications, and China’s ability to restrict their sale to the US military industrial complex gives it considerable leverage. He points out that this situation is reminiscent of past interventions by the US in countries like Iraq and Libya. Gromen emphasizes that the US dollar is facing serious challenges, highlighting that it is on track for its worst year since 1973, losing over 10% of its value year-to-date. He posits that Bitcoin and other hard money assets are the best solutions to combat the economic issues arising from currency debasement, stating that these assets are becoming increasingly vital for investors looking to safeguard their purchasing power in the face of rising inflation.

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