Economic Suicide By The West? 'De-Dollarization Now Inevitable?

The Economic Suicide of the West is now under way… severe economic sanctions against Russia will END the dollar as the global reserve currency

Mike Adams 

Today’s urgent Situation Update podcast (see below) connects the dots and reveals why the West’s economic sanctions against Russia have actually set into motion a series of events which will inevitably lead to the end of the dollar and the collapse of America as we know it.

To understand why the dollar is now doomed, first realize that the petro dollar status of the US dollar made it the “world reserve currency” that has dominated world commerce for the last 75 years. The world reserve currency status allowed the USA to print more fiat currency and use it to purchase physical goods and raw materials from other nations without offering anything in return other than fiat dollars. In effect, it allowed the American people to enjoy a highly prosperous, materialistic quality of life — and affordability of goods — that has been artificial this entire time. Because if you can just counterfeit money and then spend it globally, you have an amazing deal.

All this time, America has been trading fiat currency for physical goods, and that’s a great deal for America and a horrible arrangement for the producers and exported of the world, such as China, Ukraine, Mexico, India, Korea, etc.

Additionally, the hyper creation of leveraged debt and trillions in new money printing (especially since covid) has created a highly precarious global debt bomb scenario and stands on the verge of imploding. It only needs one black swan event to topple the entire thing.

By goading the West into severe economic sanctions and banking de-platforming, America just fell for Putin’s tactical genius and unleashed a series of events that will inevitably spell the demise of the dollar and the collapse of America. Here’s why:

First, the SWIFT de-platforming of Russian banks hurts western banks and institutions far more than it hurts Russia. Western banks have loan payments due from Russian borrowers, and now those borrowers are unable to meet loan payment demands. Similarly, many businesses in Europe import substantial amounts of goods from Russia, including wheat, minerals and technology. Now, with no way to actually pay Russian businesses, those exports have ceased, causing extreme economic damage to westernbusinesses operating in the UK, France, Germany, Spain… and contributing to the product shortages and supply chain disruptions that will only get far worse (look into Russia’s exports of fertilizer and energy if you’re curious about how bad it’s going to get for Europe).

But that’s not even the biggest factor at play here. When SWIFT disconnected Russian banks from its system, it broadcast a powerful, history-changing message to the world: If you want to have reliable commerce on a global scale, don’t use SWIFT or the dollar. Otherwise, your nation (or bank, or business, etc.) can be cut off at any time merely because you have a political disagreement with the Biden regime.

Thus, right now there is a mass exodus away from reliance on the SWIFT system. There’s also a rush out of the dollar itself as international companies dive into the Chinese yuan as a more stable currency that can still engage in financial transactions with Russia. This is why the yuan is exploding in value right now, by the way.

Informed people are also moving rapidly into cryptocurrencies, and this situation highlights the perfect use case for crypto: Rapid, decentralized international transfers that can’t get easily trapped by rogue, corrupt governments. Suddenly, XRP, Bitcoin, etc., all look a lot more practical, and we are starting to see people enter this realm who are not speculators and “hodlers” but rather practical international business owners who simply need a transaction system that functions.

For these reasons and many more, there is a global rush away from the dollar and dollar-based control systems such as SWIFT. It’s almost as if Biden and western nations were actually trying to detonate the dollar and bring it to its knees, ending the 75 years of dollar dominance in one grand suicidal leap off a cliff.

At this point, global de-dollarization is now inevitable. It almost certainly cannot be stopped. Global faith in the dollar and SWIFT has been shattered and is very unlikely to be restored. (Obama has achieved one of his key goals to bring down America.)

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