Professor at the University of Pittsburgh: the US itself strikes a blow to the role of the dollar in the world with its sanctions

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Many specialists in the West are seriously concerned about the consequences of ill-considered anti-Russian sanctions imposed in the era of globalization on the planet. For example, Dan Kovalik, a lecturer at the University of Pittsburgh, believes that the United States, by imposing severe restrictive measures against Russia, is dealing a powerful blow to the further role of the US dollar in the world with its own hands.

During the interview RT the expert compared the future prospects of the US dollar and the Russian ruble. He recalled that Washington has imposed a wide variety of sanctions against many states for decades. This forced these countries to carry out their foreign trade operations in other currencies. At the same time, the impact of the US dollar has previously been colossal. Now, international trade in US currency has declined significantly, as has US influence.



The current imposition of sanctions against Russia will only accelerate this process. I've been saying for many years, US sanctions will squeeze themselves out of the world economics. This is exactly what is happening before our eyes.

Kovalik said.

He is confident that the role of the dollar on the planet will continue to decline. The expert drew attention to the fact that the Russian ruble is largely backed by real gold. At the same time, the American dollar is now backed up only by an article in the US Constitution.

Kovalik stressed that the more the US accumulates debt, the less people in the world will trust the US currency. Therefore, the Russian ruble has good prospects, since it already has real value. Moreover, Moscow's behavior can become an example for other countries that do not like Washington's actions.
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  1. Roma Phil
    Roma Phil
    -1
    April 2 2022 15: 39
    God be with him, with this dollar. I'd rather give him a grand funeral.
    For example, at the moment, I am more interested in the Russian 330 billion dollars, which, apparently, Russia has already lost and will not receive.
    Moreover, the Ukrainian authorities expect to receive these 400 billion dollars from the frozen Russian assets. This was stated by Volodymyr Zelensky's adviser on economic issues Oleg Ustenko on the air of the Ukraine 24 TV channel.
    According to him, this money will go to the so-called fund for the restoration of Ukraine.
    He explained:

    Where will the funds for this fund come from: we are talking primarily about $300 billion, which is frozen by the Central Bank of the Russian Federation. The second source is the frozen assets of Putin's inner circle, which includes several hundred people outside the country.
    1. zzdimk
      zzdimk
      0
      April 2 2022 16: 19
      The 404th will receive this money only in words. In fact, they won't be available. In reality, they will be divided by uncles on the hill. If not already shared.
      If you think about it, the question arises: was there really an agreement and this money is payment for a military operation?
      1. Roma Phil
        Roma Phil
        -2
        April 2 2022 16: 47
        Quote: zzdimk
        If you think about it, the question arises: was there really an agreement and this money is payment for a military operation?

        Yes, that's right. There is something to think about.
        If you read some political scientists, then they also have quite reasonable questions for Minister of Finance Siluanov.
        After all, it is clear that the special operation was being prepared, discussed, and everything was calculated.
        After all, all this, with the participation of hundreds of thousands of military personnel and thousands of pieces of equipment, could not do without preparation, and the Minister of Finance Siluanov, ex officio, is a member of the Security Council of Russia.
        Of course, they talked about what kind of assistance the West would provide to Ukraine. We assessed the possible consequences for the Russian economy. They wondered what other sanctions could be introduced in addition to the existing ones.
        And who better than Siluanov to know that 330 billion dollars of state reserves are in Western banks. And of course, Siluanov knew about the state assets of Libya, Venezuela, Iran, Syria and several other countries arrested in Western banks, and never returned.
        But Russian assets were not withdrawn from Western banks before the start of the special operation.
        And why ?
        1. Sultan Kogan
          Sultan Kogan
          +1
          April 2 2022 20: 21
          But because it would clearly indicate a XNUMX% deployment of a military operation. Besides, you're not the only smart one. The leadership understood that such a step would take place, and this would cause enormous reputational damage to the dollar and the United States, after the arrests of our reserves, neither the Saudis, nor the Indians, and even more so the Chinese, have any illusions about the reliability of the dollar and the United States as a partner. And finally, in Russia, Western companies have assets worth a trillion three hundred billion dollars left!

          The United States stupidly shot itself in both legs and is still not fully aware of the destructiveness of its steps.

          And Siluanov is a pawn, one of the pawns, it is necessary to force such liberal henchmen to work for the good of Russia, there are still many of them in the country, let's not drive them all away. Recycling, not going anywhere