Against the us dollar. As the world has entered a currency war

Против доллара. Как в мире началась валютная война

Countries refuse calculations in dollars

Global supremacy is under threat, as more countries refuse dollar payments.

The US is waging a trade war with the tenth part of the world is under American economic sanctions. The governments of these countries began to unite to create a parallel financial system without a dollar that is unavailable to the influence of Washington.

Thus, every fourth person on the planet lives in a country whose government has pledged to put an end to dollar hegemony. If they succeed, it will radically change the position of America in the world, economists say. Корреспондент.net tells details.

 

A trade war with the world

The United States declared economic war the tenth part of the world, inhabited by nearly two billion people. The total volume of GDP of these countries exceeds 15 trillion dollars.

Among them – Russia, Iran, Venezuela, Cuba, Sudan, Zimbabwe, Myanmar, Democratic Republic of the Congo, North Korea and other countries against whom the us authorities have imposed sanctions. In addition, China, Pakistan and Turkey, though not under sanctions, but suffer from other punitive economic measures.

At the same time, thousands of people around the world are included in the list of those who had the right to use the global financial system under US leadership. Many of the listed individuals or closely linked to the leadership of their countries, or are themselves part of it.

American authorities are thus trying to cleanse the world, fighting narusheniyam human rights, terrorism, nuclear weapons, corruption or, as in the case of China, unfair trade policies and the theft of intellectual property.

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Says the co-Director of the Institute for analysis of global security and senior adviser to the Board of the energy security Gal Luft, the governments of these countries and supporting their rich citizens have the critical mass to create a parallel financial system.

“System not available to the long arm of the United States. If they succeed, it will radically change the position of America in the world,” an expert quoted by CNBC.

Global supremacy is made possible, in particular, through control of the internal construction of global Finance and, especially, the widespread adoption of the dollar as the world reserve currency. The unique status of the American currency kept the global financial system since the Second world war.

Thus, any dollar-denominated transactions or transactions through U.S. banks are subject to the laws of the United States.

“When the United States decides to impose unilateral sanctions, as in the case of Iran, they are in essence telling the world’s governments, corporations and individuals that they must choose between suspension of business under the sanctions of government or an exception from the economy the number one in the world. It is a powerful tool of influence,” says Luft.

 

Anti-dollar revolt

The economic sovereignty of these countries may be at risk without access to financial instituon USA. Why Russia and China have developed their own versions of SWIFT, a worldwide network allowing it to conduct international financial transactions among thousands of banks.

Both countries also encourage their trading partners to abandon the dollar in bilateral trade in favor of local currencies.

This month the conflict broke out between the US and Turkey. The American authorities have imposed sanctions against two Turkish Ministers then record the Lira collapsed.

Therefore, Ankara has offered its largest trading partners such as Ukraine, China, Russia and Iran to switch to payments in national currency. In addition, the Turkish leader Recep Tayyip Erdogan has urged its citizens to sell dollars and euros.

China encourages its partners on economic project, one belt, One way to abandon the dollar in favor of yuan. This initiative was agreed by Pakistan and Iran.

In addition, the BRICS countries (Brazil, Russia, India, China, South Africa) summit last month called for active struggle against the hegemony of the dollar, Turkey, Jamaica, Indonesia, Argentina and Egypt. These countries were invited to the BRICS plus to create a new economy without the dollar.

The main area where it will be a struggle with the dollar, global commodities market, particularly oil market worth $ 1.7 trillion.

The oil market is pegged to the dollar since 1973, when the United States untied the dollar from the gold standard and convinced OPEC to trade oil only in dollars. Since then, the demand for the American national currency is growing all the time.

But now, according to adviser to the energy security of the United States, the situation is changing. Oil exporters are joining the anti-dollar Alliance, believing that their raw material should not be assessed those attached to the dollar criteria as the WTO or Brent.

So, China parapet oil from Angola, natural gas from Russia, coal from Mongolia and soybeans in Brazil for its own currency the yuan. Beijing also wants to make such calculations with Saudi Arabia and Iran.

Last year, China introduced gold futures contracts that are called “petrolane” Shanghai international energy exchange. This is the first criterion of non-dollar raw materials in Asia.

Also from the dollar when trading it has become easier to give thanks to the cryptocurrency. The Central Bank of the Russian Federation stated that it is considering the launch of a national “cryptolabs. Russia helped Venezuela launch its own crypto currency supported by oil reserves.

Now the BRICS members discuss the cryptocurrency, which would support all the BRICS.

“More and more countries, even not affected by U.S. sanctions, will in any case to move away from the dollar and rely on a more reliable, more credible partner, in terms of the use of their currency”, – said the head of Russian foreign Ministry Sergei Lavrov.

It is also worth noting that after the introduction of the new package of US sanctions against Russia and the fall of the ruble, Moscow began to buy gold and get rid of us government bonds.

 

America is under threat

In the coming years the U.S. dollar will face a large number of attacks aimed at the destruction of its hegemony.

“The energy market is one of the main fields of battle, which will decide the future of the economic superiority of the United States. Any successful attempts to decouple the trade in raw materials from the dollar will be affected by the Domino effect not only on the economic system in the form in which we know it, but U.S. strategy abroad,” – said the expert.

Laft warns us government not to consider the abandonment of dollar calculations of “small troubles”, despite the greenback’s strength against a background of weak ruble, yuan, Turkish Lira and Iranian Riyal.

“If Washington will ignore the anti-dollar coalition, it will cause damage.. higher prices on the market coming to an end, the state debt of 21 trillion dollars, increasing at a trillion dollars a year, the reaction will come more sharply and sooner than predicted by most economists,” warns the expert.

Every fourth person on the planet today lives in a country whose government has pledged to put an end to dollar hegemony, so the opposition to their action should become a national priority for Washington, said the adviser to the energy security of the United States.

 

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