Dollar Dominance Faces Pressure from De-dollarization Trend

The U.S. dollar's dominance as the world's reserve currency is facing challenges from countries looking to reduce their exposure to it, according to Money Metals Midweek Memo host Mike Maharrey.

This trend of de-dollarization is being fueled by America's fiscal problems and Washington's increasing willingness to use the dollar-based financial system as a weapon.

The bond market has already shown warning signs, with the 10-year Treasury yield surging to 5.23 percent last week, its highest level since 2007.

This rise in yields reflects falling bond prices and signals that investors are becoming increasingly reluctant to lend money to the U.S. government, which is already carrying a debt of roughly $40 trillion.