For a long time, the U.S. government has used the U.S. dollar hegemony system to do evil in the world, imposing economic sanctions on other countries at every turn, and in severe cases directly sending the U.S. military to threaten the territorial security of other countries.
Given that the United States is a superpower in the world, most countries dare not speak out against the evil deeds of the United States, but this does not include Russia. In the face of the unreasonable attack by the US, Russia has begun to expand its moves, starting the war of de-dollarization , and challenging the hegemony of the US dollar.
Russia establishes a financial information transmission system
The United States and Russia are two major countries in the world. The cultures and mainstream values of the two countries are vastly different, and they have been in a confrontation for a long time. In recent years, Russia has suffered economic sanctions from Western countries led by the United States, and Moscow may be forced to leave SWIFT, so Russia must find a new currency settlement mechanism.
Once we get rid of the dependence of the US-led SWIFT settlement system and establish a new mechanism, it will accelerate the de-dollarization of Russia to a certain extent. The hegemony of the US dollar has brought many economic benefits to the United States, and it has also negatively affected the economies of other countries. De-dollarization has instantly become the voice of the international community.
A few days ago, according to overseas media sources, Russian Foreign Ministry spokesperson Zakharova said: In addition to the self-built international payment system , Russia is also discussing matching foreign payment systems, such as European single euro payment District, China UnionPay inter-bank settlement system and cross-border payment system.
The annual report released by the Central Bank of Russia pointed out that the use of Russia's self-developed financial information transmission system in 2020 has doubled compared to the previous year.
Russia has always been subject to US economic sanctions, and Russia has been making efforts to establish its own financial information transmission system. Putin's de-dollarization of was neat and tidy to , which caught the United States by surprise.
Why is Russia going to dollarize?
In fact, the reason for Russia’s de-dollarization is very simple. First, the US relies on the dollar hegemony to pluck wool and leeks in the world. Putin has to start a war of de-dollarization for national interests; second, the current epidemic situation , the US government prints a lot of money to stimulate its own economy and makes the world pay for its economic downturn, which has caused a lot of strong dissatisfaction. De-dollarization seems to have become a topic of discussion in many countries.
When Biden decided to print money, many countries sold U.S. bonds , and many countries were full of mistrust of dollars . It is reported that many countries try to use local currency exchange or other currency settlements in trade transactions, such as China and Iran oil trade or use RMB for settlement, the dollar hegemony is not as good as before.
The U.S. government has gone its own way and has no regard for the feelings of other countries. It is understandable for countries to propose "de-dollarization" in order to avoid getting too involved with the U.S. economy and causing the collapse of their own economies. In terms of challenging the hegemony of the US dollar, Russia has already started. If the US still wields the stick of economic sanctions, the US dollar will not escape doom.
Judging from the current situation, although Russia's attack on the US dollar is not fatal, it will inevitably cause a series of chain reactions, which will cause the US to be "severely injured". How will the Biden administration eliminate the negative effects brought by Russia? Influence, wait and see.
