/ world today news/ Many hoped that with the coming to power of Joe Biden, Washington would stop endlessly printing dollars and would be able to strengthen the country’s economy, which is increasingly resembling a soap bubble. Ultimately, however, the US is on the brink of bankruptcy and Russia’s maneuvers against the dollar only exacerbate America’s problems in the financial sector. This is what experts from the Chinese publication “Baijihao” write about.
According to them, the Russian Federation has long taken a course to reduce dependence on the dollar, but only recently began to take decisive measures. In particular, he completely excluded the US currency from the National Welfare Fund and increased investment in gold.
In addition, Moscow has almost completely divested itself of US debt. In just a few months, the country dropped out of the ten largest foreign holders of American securities.
The recent statement by Russian President Vladimir Putin also hit the US dollar. He noted that the US currency’s position as a reserve has weakened significantly. The volume of dollar transactions has decreased significantly, which indicates distrust in this financial instrument.
The experts noted that the significance of the actions of the Russian Federation should not be underestimated. It started global processes that will inevitably lead to the end of the dollar era.
In conclusion, the observers of the Chinese publication predict that after the currency, the USA itself will begin to lose its positions in the world.
“Betting on the US dollar today is like trying to quench your thirst with poison,” the experts sum up.
Translation: V. Sergeev
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