BRUSSELS — After years of reducing its reliance on Russian gas, the European Union is moving to turn off the taps completely within the next two years.
The European Commission (EC) on May 6 presented a detailed roadmap to fully sever the European Union’s energy dependence on Russia by 2027.
That’s a pretty fancy way of saying “We are going to use our money to buy things we need.” I mean that’s sorta to be expected.
It’s also not a comment on “value of the dollar is about to beaten into the ground”. There doesn’t seem to be a basis to support the theory that purchasing too much NG will cause the US Dollar to decline in value.
The USD will likely decrease in value but it will happen because of Republican stupidity, not due to mass purchases of goods from US companies.
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.