economy
January 15, 2026
US is ‘main enemy of the dollar’
The US is the main enemy of the dollar and the Western financial system, Brazilian economist Paulo Nogueira Batista has told RT
TL;DR
- The US is considered the main enemy of the dollar and the Western financial system.
- The US's "abusive use" of financial instruments, like SWIFT and reserve freezing, is undermining trust in the dollar.
- The freezing of approximately $300 billion in Russian Central Bank reserves after 2022 is highlighted as a significant case of this abuse.
- The scale of the Russian reserve freeze prompted major central banks, such as China's, to move away from US Treasuries.
- The dollar's share of global foreign exchange reserves has declined over the past four years.
- Russia has reduced the use of Western currencies in trade with CIS and BRICS nations, a trend being mirrored by other partners.
- While the dollar will remain important, its global hegemony is expected to gradually weaken.
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