Currencies serve three functions—means of exchange, unit of account, and store of value—and de-dollarization doesn't require eliminating dollars as a transaction medium but rather establishing the renminbi as a reliable store of value (through bonds) so central banks view renminbi reserves as preserving purchasing power over time.
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Speaker
Louis Vanden EyndeEvidence Quote
“currencies serve three functions right they serve a means of Exchange a unit of account and a store of value um now store of values can be bonds they can be equities um but most you know central banks you know if you're the Thai Central Bank if you're the Korean Central Bank and the pboc comes knocking on your door and says hey let's trade in renman B in essence you're saying hey keep reserves in renman B at your central bank and they will only do that if they have a conviction that those R&B bonds will hold their value”
Source
From Wedlock to Deadlock: The East-West Divorce - with Brent Johnson and Louis Gave— In Gold We Trust [EN]Created: 8/12/2026, 6:04:21 PM
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