Putin says US itself killing dollar as reserve currency by weaponizing sanctions & uncontrolled money printing, fueling inflation



Washington itself is undermining the US dollar as the world’s reserve currency by using it as an instrument of sanctions abroad, while raising the national debt and inflating at home, said Russian President Vladimir Putin.

“It seems to me that the United States is making a very big mistake by using the dollar as a sanctions instrument… by preventing payment in dollars for the sanctioned products,” Putin told CNBC’s Hadley Gamble on Wednesday, after a panel at the Russian Energy Week.

Countries facing US sanctions, like Russia, “have no other choice, we are simply forced to switch to settlements in other currencies,” he added. Gamble had asked about the possibility of using cryptocurrencies such as Bitcoin to sell oil and gas, something Putin welcomed in principle but said it was “too early,” citing crypto’s volatility.

Russia is happy to use dollars in energy trade – for now – and has now plans to ditch the US dollar entirely, Putin noted, but “if the policy of the American authorities continues… then we will not have to do anything, the US will itself undermine confidence in the dollar.”




Also on rt.com
Price of crude oil could ‘quite possibly’ rise to $100 per barrel, despite efforts of Russia & OPEC to stabilize market – Putin



Even US allies were reducing their dollar holdings and reliance on US currency in mutual trade, the Russian leader pointed out. Not just because the dollar has been weaponized for sanctions, but also because Washington is devaluing the currency at home, by printing money and raising the national debt.

“For the first time, probably in history, inflation in the United States is growing at a rate that has not happened for a long time,” Putin told CNBC. “Everyone is now asking the question: what next? What will the US economic authorities do with this colossal debt? What will they do, carry out some manipulations with the dollar, lower its value?”

It can be said that the US is “sawing off the branch on which it’s sitting,” Putin said, “by undermining the dollar’s dominance as the global reserve currency for the sake of short-term political gain at home, but harming their strategic economic interests” in the long term.

Think your friends would be interested? Share this story!



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Releated

UN says Taliban to announce plans for girls’ education ‘soon’

The Taliban will be announcing a plan to allow girls to continue their education, the UN says. Suspicion about girls’ and women’s rights have been rife since the group took over. The Taliban, which took control of Afghanistan, is notorious for historically oppressive regimes.  The Taliban will announce a framework that allows girls to attend […]

דיווח בסוריה: ישראל התנקשה בחבר הפרלמנט לשעבר שישב בכלא הישראלי

דיווח בסוריה: ישראל התנקשה בחבר הפרלמנט לשעבר שישב בכלא הישראלי

סוריה: ישראל התנקשה בחבר הפרלמנט לשעבר שישב בכלא הישראלי ג’קי חורי פורסם ב-18:47 קבל התראות בתיבת הדואר האלקטרוני שלך עבור כתבות מ ג’קי חורי עקוב פורסם ב-18:47 שתפו וחבריכם יקראו את הכתבה ללא תשלום שתפו בפייסבוק שמרו שמרו את הכתבה לרשימת הקריאה שתפו כתבה במייל שתפו כתבה במייל שתפו בפייסבוק שתפו וחבריכם יקראו את הכתבה…