Russian Sanctions are Now Destroying the US Dollar! Watch Out!

Russian Sanctions have not worked. This is the latest assessment from Robin Brooks, the chief economist at the IFF. But Russian sanctions have now caused another major problem, the world is moving away from the US dollar. Scared of US sanctions, many countries are looking for other currencies and the BRICS network could create a new currency backed by gold that could challenge the dollar and become a dominant world currency.

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#dollar #russia #sanctions

[heesingsia]

I disagree with you Cyrus on one point. China is not convincing countries to ditch the US dollar. The USA is the one doing that.

[BrainKeener]

BRICS seeks to create a new currency, considering gold's historical role as a store of value and medium of exchange. However, the functionality and acceptance of a gold-backed currency in the current global financial system are uncertain. Creating a new currency requires careful consideration of economic, political, and logistical factors.

[GillerHeston]

In light of the ongoing global economic crisis, it is crucial for everyone to prioritize investing in diverse sources of income that are not reliant on the government. This includes exploring opportunities in stocks, gold, silver, and digital currencies. Despite the challenging economic situation, it remains a favorable time to consider these investments.

[jm]

As an American I can admit that countries are sick of being bullied by a nation that sanctions them using and adhering to a Fiat currency. It’s like saying if you don’t do what I want you to do I will keep my monopoly game money

[basfinnis]

When you use your currency as a weapon people get fed up after a while.

[rtu]

I wish i learnt most of these principles about seven years ago. A lot of people have been trapped strongly in the matrix-- Go to school, get a job, and then slave your whole life. Many miss out on life-changing information that could have great effect on their finances. I played with the stock market sometime in 2020, and I was surprised at how well it turned out. I want to put in $90k more into the market. I heard people are making really great returns despite the downturn. Any recommendations?

[DavidVelasquez]

Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are alot of wealth transfer in this downtime if you know where to look.

[annac]

The US government needs to learn to humble themselves and work with other countries instead of trying to dominate them

[bibodude]

The irony is countries are ditching dollars not because they want to hurt the US economy. They are ditching the dollar by necessity because the dollar just lost the most important characteristic of exchange currency which is the TRUST. .

[oliviaralston]

You work for 40yrs to have $1M in your
retirement, meanwhile some people are putting just $10K in a meme coin from just few months ago and now they are

[nadikabap]

As a Russian I will say that we do not feel sanctions. Although our country is the leader in the number of sanctions, but we have put them in a package with packages in the far corner. (A Russian joke in Russia). It didn't affect our lives in any way. We are not starving, we have a lot of food and they are cheap. Russia with its resources is a self-sufficient country. We also have import substitution and parallel import. Many foreign companies left the market, but then returned under a different name. Profit! We also watch new films in the cinema. No one cares that it's illegal. They are voiced in Kazakhstan, and then sent to us. We also have OFFICIAL state platforms through which you can top up your wallet in steam and buy any game and much more.

[jessicaw]

This is a classic example of the US shooting itself in the foot. Sometimes you have to walk away and let karma take over.

[Shenzhou.]

In fact, the Russian _Ruble_ was ranked the *world's best performing currency* of 2022.

[margaritasbunny]

A weak dollar can signal an economic downturn, making me to ponder on what are the best possible ways to hedge against inflation, and I've overheard people say inflation is a money-eater thus worried about my savings around $200k

[brianafrika]

Its simple. Countries are just tired of being remote-controlled by the US

[HKChineseCanadian]

Thanks Cyrus. Gold has always been a good hedge against the US dollar.

[bansrajmattai]

Smart reporting, deserving of everybody's attention! Thank you, Sir!

[MichaelYoung-glou]

Marco Rubio is one of the reasons why this is happening.

[jacktherack]

To make a long story short , USA 🇺🇸 sanctions on Russia has backfired, self inflicted pain, , , , and has also impacted on all of Europe, the cost of living has almost doubled, thanks uncle

[lorenciandrej]

US FED obviously never heard about KARMA effects.