Russia Sanctions Threaten to Erode Dominance of US Dollar, Says IMF

[sanman]

Americans don't find their dollars to be worth as much now anyway, thanks to inflation - and then there's the rise of Crypto and digital currencies - and now the diminishing use of the dollar by other countries - all contributing to the decline and eventual collapse of the US Dollar:

Russia sanctions threaten to erode dominance of US dollar, says IMF | Financial Times

Ukraine war could cause more ‘fragmentation’ in global financial system, warns top official

www.ft.com

Russia Sanctions Threaten to Erode Dominance of US Dollar, Says IMF

The unprecedented financial sanctions imposed on Russia after its invasion of Ukraine threaten to gradually dilute the dominance of the US dollar and result in a more fragmented international monetary system, a top official at the IMF has warned. Gita Gopinath, the IMF’s first deputy managing director, said the sweeping measures imposed by western countries following Russia’s invasion, including restrictions on its central bank, could encourage the emergence of small currency blocs based on trade between separate groups of countries. “The dollar would remain the major global currency even in that landscape but fragmentation at a smaller level is certainly quite possible,” she said in an interview with the Financial Times. “We are already seeing that with some countries renegotiating the currency in which they get paid for trade.”

Gita Gopinath, the IMF’s first deputy managing director, said the sweeping measures imposed by western countries following Russia’s invasion, including restrictions on its central bank, could encourage the emergence of small currency blocs based on trade between separate groups of countries.

“The dollar would remain the major global currency even in that landscape but fragmentation at a smaller level is certainly quite possible,” she said in an interview with the Financial Times. “We are already seeing that with some countries renegotiating the currency in which they get paid for trade.”

IMF warns Russia sanctions threaten to chip away at dollar dominance - FT

Financial sanctions imposed on Russia threaten to gradually dilute the dominance of the U.S. dollar and could result in a more fragmented international monetary system, Gita Gopinath, IMF's First Deputy Managing Director, told The Financial Times.

www.reuters.com

 

[PirateMk1]

Americans don't find their dollars to be worth as much now anyway, thanks to inflation - and then there's the rise of Crypto and digital currencies - and now the diminishing use of the dollar by other countries - all contributing to the decline and eventual collapse of the US Dollar:

Russia sanctions threaten to erode dominance of US dollar, says IMF | Financial Times

Ukraine war could cause more ‘fragmentation’ in global financial system, warns top official

www.ft.com

IMF warns Russia sanctions threaten to chip away at dollar dominance - FT

Financial sanctions imposed on Russia threaten to gradually dilute the dominance of the U.S. dollar and could result in a more fragmented international monetary system, Gita Gopinath, IMF's First Deputy Managing Director, told The Financial Times.

www.reuters.com

Play stupid games win stupid prizes.

 

[Ug make hammer]

The dollar being strong vs trading partners is actually bad: like a drug habit it is pleasing in the short term (you can buy easily) but disastrous in the long term (you can't sell easily.)

You think other nations wouldn't use dollars for trade, if it didn't advantage them?