The US dollar faces a silent structural crisis.
And meanwhile, Venezuela takes an unexpected turn: it strengthens its local currency, the bolívar, backed by gold and oil.
Experts like Peter Schiff and Ray Dalio have warned for years about the systemic wear of the dollar: unsustainable federal debt, persistent inflation, and loss of global financial hegemony. Now, the machinery is wobbling. According to the IMF, the dollar's share in global reserves has fallen from 70% in 2000 to less than 59% in 2024.
🇻🇪 But to the south, something unusual is happening: the bolívar — the currency symbol of economic collapse — begins to stabilize.
President Nicolás Maduro has intensified his plan for internal dedollarization, forcing the commercial system to prioritize the use of the bolívar, while strengthening its backing with certified gold reserves and an oil flow that has begun to be traded in yuan and rubles.
“In Venezuela, the dollar is no longer king. We are building a sovereign financial model,” declared Maduro during a recent speech.
Economist Pasquale Cirillo, professor of applied economics at Delft University, warns that these geopolitical shifts are not accidental:
“Financial multipolarity is underway. The dollar is weakening not only from within but from without.”
Meanwhile, crypto assets — especially Bitcoin and stablecoins like USDT — remain the preferred vehicle for saving for the Venezuelan population. However, a strengthened and digitized bolívar could be the next move of chavismo to regain monetary control.
