Glazyev announced a new global financial system that will replace the dollar

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The Americans are profiting from the confrontation they organized in Europe. Russia has lost a lot of assets and reserves in recent years because of this. This was announced during SPIEF-2024 by Academician of the Russian Academy of Sciences, economist, member of the Board for Integration and Macroeconomics of the Eurasian economic Commission Sergei Glazyev, outlining the contours of the new world monetary system.

He noted that the United States is still quite strong due to the existing hegemony of the dollar. But the era of the dollar is ending.



It will not end in the sense of the dollar being replaced by the yuan or other currency. This will happen through a transition to a fundamentally different global monetary and financial system. We are working on it now. We are talking about the launch of a new global settlement currency, which, unlike the current system, will be based on an international treaty. It is important that the world currency should not be used for the private interests of any country or group of transnational corporations. This is an instrument that must be based on an agreement, it must be digital, transparent, each participating country must be able to use the mechanism for issuing this currency only for international payments. Countries will retain their national currencies

- he specified.

Glazyev added that it is proposed to organize this international currency on the basis of two baskets: commodities and national currencies. Currently, these issues are being discussed and Russia, as the country currently presiding over the BRICS club, will be able to give quite a decent impetus to further advance this process. If this succeeds, then humanity will receive a new global monetary and financial system, in which there will be a transparent mechanism for carrying out emissions and there will be no possibility of putting pressure on anyone through sanctions.

He clarified that American sanctions go through banks, and for the described new world currency, banks will not be needed, at least in the form they currently work.

28 comments
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  1. -1
    9 June 2024 19: 47
    There is only one problem: the creation of a new supranational financial institution will ultimately turn out to be the birth of an analogue of the Fed, which they so want to get rid of. It's not even funny. Like blind horses on a horse farm - everything goes in circles and along the beaten path.
    1. +1
      9 June 2024 19: 55
      Offer them something of yours
      1. +8
        9 June 2024 20: 05
        (Nick.S) The EU offered its euro (the same product of the printing press), which began to displace the US dollar. How it ended, the United States “heated up” the EU to the fullest, cutting off Russian hydrocarbons and other resources (even blowing up the joint venture’s gas pipelines), and forced it to arm itself (the budget was minus for American weapons). But every double-edged sword, here the United States is losing trust, which was the strength of “Kashchei” - the US dollar. Only Vanga knows how all these cleverly conceived upheavals will end, but she won’t tell...
    2. -6
      9 June 2024 20: 14
      There has been no other path since time immemorial! Strong countries - strong currencies - people are busy accumulating them, then saving them...
      And this? fellow Everyone can engage in emission, both the weak and the stunted, the young and the old...and at the end of the day paper after paper.
  2. -3
    9 June 2024 20: 11
    Each participating country should be able to use the mechanism for issuing this currency only for international payments.

    In - in the head! Burundi and Bujumbura will make such printed emissions that toilet paper will be more expensive!
    This is a pearl! Each country can make emissions.
    1. +5
      9 June 2024 20: 31
      Kenttt, in this phrase the most important thing is at the end - for international payments. And here the whole dog is buried, when you shouldn’t consider yourself smarter than Glazyev. Another thing is that the author should have explained in more detail the absence of a threat with the unlimited printing of such currency at will. After all, the whole purpose of this idea is to get rid of the uncontrolled emission of candy wrappers. There are no Hutus against you from Rwanda... lol
      1. 0
        11 June 2024 15: 08
        what money emission leads to is known to everyone
  3. -3
    9 June 2024 20: 17
    He clarified that American sanctions are taking the turn of banks, and for the described new world currency banks will not be needed,

    New Marxist theorist! Marx in the coffin...
    These are people with education.
  4. +1
    9 June 2024 20: 33
    As long as I remember him - for more than thirty years, he talks, talks, talks... He settled down well - he can talk all his life and not answer for anything! )))
    1. -2
      10 June 2024 09: 05
      He immediately reminded me of the president... a lot of plans...))
  5. -2
    9 June 2024 20: 55
    It looks like Glazyev’s great-grandchildren will also bury the dollar...
  6. -1
    9 June 2024 21: 00
    However, it is clear why this person has been “backing up” for so many years but never gets into the main choir... smile
  7. -3
    9 June 2024 21: 02
    I wasn’t invited to the PMEF, he’s an academic with all my respect for him, he’s a utopian, and doesn’t understand the real economy, if he were an engineer or an entrepreneur, he would understand more about economics..... currency is a means of exchange with a value that must be guaranteed by someone, the creation of a supranational body like the IMF that issues currency is impossible now for now, and again there must be guarantors, why on earth would independent states give up financial power over themselves to someone, the Fed and its daughter the IMF were imposed on dependent economies and their comprador governments under dictate The USA controlled the most powerful economies of the world, transnational corporations and banks, Federal Reserve System and military power.... the theorist Glazyev’s attempt to create a supranational body is described in the new testament Second Epistle of Peter 2:22

    But what happens to them is according to the true proverb: the dog returns to his vomit, and the washed pig goes to wallow in the mud.

    why, from under the yoke of the IMF, again look for a master in the form of some new IMF, academician Glazyev should get out of the servile psychologist and go free, having learned the Truth that will make us free, and we need to think creatively, we need to invent something new, why on earth would Glazyev thinks that business needs some kind of supranational currency? a business can work with a basket of currencies, I don’t see any problems, trading different currencies, especially since they are all quoted and exchanged freely, who will now ensure the stability of the new world currency? the first economy is China, but India will not want it, the countries of Latin America are also large and will not want it and are discussing some kind of Latin American currency, most likely they will simply work with a basket of currencies and will not agree, and especially with China, with India, with Saudi Arabia , I’m sure they won’t come to an agreement with the Russian Federation either. Khazin writes about this that temporarily there will be several currencies,
    It would be better if Glazyev descended from the futistic world skies onto Russian soil, but on earth this is what is happening, bureaucratic pressure and prohibitive taxes in the Russian Federation do not allow businesses with high additional costs to develop in the Russian Federation, everything we have is Chinese, so Glazyev should learn from China its tax system that stimulates the development of production? or ask me, I know how to develop and stimulate business in Russia.
    1. -1
      10 June 2024 20: 47
      As a specialist with experience and education in the credit and financial sector, I will say that Glazyev, even in terms of theory, often makes erroneous statements. Yes, and he is not alone. Last night I watched Solovyov with his attacks on banks. There is such a lack of education in this area. For some reason, all the common people think that if you give a lot of money, then the business will develop to the skies. But this is not entirely true. We are full of projectors with erroneous projects. We are full of lazy people who will receive money and simply waste it. We are full of people who do not know how to gather the necessary specialists and subsequently manage teams. Money isn't everything. Many enterprises have gone bankrupt with huge debts to banks.
      1. -1
        10 June 2024 21: 29
        You see, they themselves admitted that they are a specialist in usury. Or, to put it mildly, a specialist in the credit and financial sector.
        How can you trust such a specialist? Surely you are protecting your feeder. smile
        1. -1
          10 June 2024 21: 32
          You see, they themselves admitted that they are a specialist in usury.

          Do you think banks are unnecessary, and all their employees are unnecessary trash?
          1. +1
            10 June 2024 23: 27
            Probably necessary, since they exist. I always wondered how this happens? The scammers apply for a loan and start extorting money from some poor guy. And they don't stop. After all, the bank didn’t save its client’s money or its own if it opened a loan, but the scammers get the money? laughing
            1. -1
              11 June 2024 12: 50
              The problem is that among the population of the country and abroad there are not so few scammers and corrupt people.
              1. +1
                11 June 2024 14: 42
                Again the population is to blame.
      2. -1
        10 June 2024 22: 09
        I support you, all these FRS tales about affordable credit, about which not only liberals talk intelligently, are economic heresy, as Henry Ford said:

        There is no point in financing any business; every production must finance itself

        that is, to be profitable, but the trap of the FRS is that inflated taxes make any WH production unprofitable and Ford was ruined, because the lack of profitability has to be hidden under loans and the issue of shares..... this was done by international banks to keep industrialists on the hook.... but neither eyes nor others notice this primitive scheme, and they talk about available credit without bothering to simply calculate gross taxes and calculate whether industry and agriculture can be profitable, but with a smart look they talk about the development of industry and agriculture.... stupidity and betrayal
        1. +1
          11 June 2024 12: 54
          At the stage of formation of new industries and enterprises, taxation should, of course, be preferential. However, this is still the case. Maybe not everywhere. Wasn't very interested.
  8. 0
    10 June 2024 05: 35
    The world reserve financial system is the highest criminal achievement in human history. The behavior of the top officials of the states in the matter of getting rid of it is not safe, or everyone is with a “gasket”, they want to fuck something. What's the point? Figuratively speaking, a piece of bread and butter and a glass of water can be the monetary equivalent, gold is under Rothschild control, it is not a reserve currency! Margin from exports to imports in determining exchange rates and trading.
  9. -1
    10 June 2024 07: 35
    Glazier is an analogue of People's Academician Lysenko. It’s good that they don’t let him anywhere near the real economy.
    1. -1
      10 June 2024 10: 09
      They then let him in as soon as he starts talking about theoretical premises and no specifics,... the government scratches its head and thinks “but what to do here”......?
  10. -1
    10 June 2024 08: 57
    I don't believe in the common good! The essence of man is to row everything on himself! Another attempt to build communism for everyone, but this will NEVER happen!
  11. -2
    10 June 2024 12: 15
    This one reports for a bonus, but the Russian Federation cannot formalize its own economic field. Thanks to such smart people, we have been trading only resources for 30 years; these people take someone else’s place or lobby for interests from behind a puddle.
  12. -1
    10 June 2024 12: 20
    Everything is correct. But abandoning the dollar will not solve the problem. Something is needed instead. So a new hegemon? Or will we return to natural exchange? Or to gold and diamonds? Trade, the engine of progress, requires a generally accepted currency. I don't think these are Mongolian tugriks.
  13. +1
    11 June 2024 12: 18
    Any currency is only worth something when it is backed by a guaranteed commodity backing, but the currency is issued by some, and the goods are obviously issued by others. Glazyev essentially offers a version of his casino, where players buy chips from him by depositing tenge or whatever they have into the cash register and play the game at a common table. The working system of settlements in national currencies is no worse than the one he proposed, with one exception - both risks and income are now divided between the direct participants sitting at the table. Of course, in the event of a transition to a single currency, the interests of the casino owner will have to be taken into account, no matter who he is. Who needs it?