The use of gold in international payments will avoid the global dominance of the dollar and help create a new monetary order, said American economist James Rickards
The dollar is still the most sought-after currency in the world, with about 80% of global payments and the majority of all oil transactions carried out with it. This privileged position of the currency gives enormous power to the States, which have turned the dollar into their “most dangerous weapon,” reports The Daily Reckoning. However, many countries are trying to find ways to crush ‘dollar hegemony’.
For example, one of Russia’s moves to fight the dollar has been to bet on gold. The country has dramatically increased its gold reserves. And using gold is an ideal way to avoid a financial war with the United States.
The Russian Demiurge
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