Post
Topic
Board Economics
Re: Ditching US dollar
by
bbigtart
on 31/12/2023, 10:46:05 UTC
Iran and Russia both are big source of oil, supplying oil to many countries. Both countries are economically strong and have a very good relationship. Russia is also part of BRICS while Iran will join in the Jan 2024.

Now news come out that both countries are trying to ditch US dollar for which they have now planned to trade in local currencies. what do you think this movement will help both countries? will It has any bad impact on US dollar?


In my view, this will weaken the dollar and this is the aim of the BRICS itself. A very good strategy, weakening the US is not through war, simply by suppressing the dominance of the US dollar, then US dominance will also decrease because its economy will weaken. It is possible that the BRICS countries consider dollar domination to be the same as colonialism, especially since recently America has seemed arrogant and treated unfairly towards countries other than Nato.

I consider this a mutual progress, it should have been from the beginning, so that there would be no pressure to suppress interests because they control the world currency. But it would be even better if you used bitcoin or gold for international transactions.