Venezuela has just taken the next step in its quest to “free” itself from the tyranny of US dollar hegemony…

“…Russian Foreign Minister Sergei Lavrov’s claims that Europe’s three major powers plan to continue trade ties with Iran without the use of the U.S. dollar.”

If history is any guide, the US dollar’s dominance of the global financial system is already looking a little late in the cycle. In the past, reserve currencies have reigned for roughly 100 years (USD now at 80th year).