Russia Drops the U.S. Dollar as Biden Regime Announces Rampant Spending and Inflation
Russian President Vladimir Putin is planning to remove all dollar assets from its Wealth Fund and reinvest them in more stable financial instruments.
Russian Finance Minister Anton Siluanov announced his nation will replace the dollar with euros, pounds, gold and yuan in lieu of the Biden regime’s plans for unprecedented spending.
The Russian National Wealth Fund (NWF) is used as a rainy day source of funds to prevent economic turmoil. The Russians apparently believe that the dollar won’t be worth the paper its printed on once real economic calamity hits.
“Like the central bank, we have decided to reduce investments of the NWF in dollar assets,” Finance Minister Anton Siluanov said at the St Petersburg International Economic Forum.
Analysts are noting that this could be the beginning of major nations rejecting the dollar, which could ultimately spell the end of U.S. dominance throughout the world.
“The rest of the world has also sharply reduced the dollar share of FX reserves over the past two decades but Russia has a special interest in doing so quickly and undermining global confidence in the dollar because it is a petro-state and a strategic rival of the United States,” Matt Gertken, a geopolitical strategist at BCA Research in Montreal, said in an email exchange.
“However, it is unlikely that Russia will totally cleanse its system of all dollars since that would be a foolish financial decision,” he added.
Big League Politics has reported on how the U.S. is seen by the world as the authoritarian regime while the Russians are seen as a much lesser threat:
“A poll of nations throughout the world has shown that the U.S. is seen as a greater threat to democracy than nations such as China or Russia.
The poll commissioned by the Alliance of Democracies Foundation featured responses from 50,000 people in 53 different countries to determine the results. A whopping 44 percent of respondents said they feared the U.S. as a threat to democracy, as opposed to 38 percent of respondents fearing the Chinese and 28 percent of respondents fearing the Russian impact on democracy.
Anders Fogh Rasmussen, who chairs the Alliance of Democracies Foundation, is interpreting the results of the poll as showing a need for more globalism.
“This poll shows that democracy is still alive in people’s hearts and minds. We now need to come out of the Covid-19 pandemic by delivering more democracy and freedom to people who want to see their countries become more democratic,” he said.
“The positive support for an Alliance of Democracies, whether the UK’s D10 initiative or President Biden’s Summit for Democracy, shows that people want more cooperation to push back against the autocrats. Leaders should take note of these perceptions and act upon them,” Rasmussen added.
In all actuality, the findings demonstrate that the U.S. is too involved in the affairs of the world, and their interventionist foreign policy is majorly backfiring…
With Biden taking the reins over foreign policy, America is likely to engender more blowback from foreign countries as the U.S. continues to engage in military adventurism throughout the globe.”
Russia is making moves to thrive after the U.S. empire collapses into ruin. This is perhaps why Biden is provoking the Russians so frequently.