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Washington's financial terrorism turns against it, marking the end of the dollar era

2022-04-22T22:14:48.379Z


Beijing, SANA- Despite the persistence of the United States during the past decades in its policy of sanctions against countries that do not follow suit,


Beijing-Sana

Despite the persistence of the United States during the past decades in its policy of sanctions against countries that do not follow its path, and the use of its successive administrations of the dollar as a “weapon of financial mass destruction” that established Washington’s hegemony over the world, new variables began to appear on the horizon caused by many factors, foremost of which are the Russian special operation in Ukraine, and the rejection of Global powers of Washington's monopolies, which, according to observers, has reinforced the opposite effect of using the dollar as a weapon that portends the end of its era.

And the Chinese Xinhua News Agency said in a report that Washington's addiction to using the dollar as a weapon provokes a backlash as the world's confidence in the dollar and the global financial transaction system supported by it is declining.

"There is only one way to explain the madness of Washington's politicians... They have become too arrogant to make rational decisions," the report said.

The report pointed out that Washington is participating in the Ukrainian war even without firing a single shot or deploying any soldiers in Ukraine by using Washington's global financial supremacy as a weapon, as its financial terrorism contributes to the escalation of the already highly charged confrontation and sends shock waves around the world.

The report pointed out that the recent US sanctions against Russia fueled sharp rises in oil and natural gas prices, and the significant increase in the prices of major commodities contributed to the acceleration of high inflation in many countries and weakened the already faltering global recovery from the Corona epidemic.

The report indicated that the United States, by exploiting the global hegemony of the US dollar, turned the international financial system into an international sanctions regime, and that over the past 50 years, the United States had turned this “exorbitant privilege” into a “exorbitant weapon of financial mass destruction” of the geopolitical conflict and pressed the trigger several times.

The report pointed out that the recent sanctions and threats to impose further sanctions on Russia are a prime example that Washington has become increasingly unprincipled by abusing its dominance of the dollar for self-serving purposes, stressing the need for the international community to remain more vigilant than ever against terrorism. Washington Financial Unlimited.

The report explained that as a precaution against the risk of falling prey to Washington's financial terrorism, the acceptance of dedollarization as a rational option is growing by more countries, indicating that since 2000, when Washington began to use the hegemony of the dollar as a threat tool for geopolitical coercion, the trend of placing the dollar as the dominant reserve currency in the world began to decline. .

According to International Monetary Fund data, in 2021 the dollar constituted less than 60 percent of international foreign exchange reserves, while in 2000 the figure was more than 70 percent.

In contrast, currencies of some emerging economies such as the Chinese renminbi gain a larger share in international foreign exchange reserves and cross-border transactions.

The report indicated that people who have basic economic knowledge realize that the value of the currency depends on people's confidence in its source, usually the country's government, and the erosion of the dollar's hegemony is a predictive indicator of the diminishing confidence that the world has toward Washington.

At the conclusion of its report, the Chinese agency predicted that the fate of the US currency will not remain in place, and it may take some time to reach a complete collapse, but it seems inevitable that it will occur in the future if Washington continues to move forward in the wrong and destructive path.

Shadi Ibrahim

Source: sena

All news articles on 2022-04-22

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