The President of Russia, Vladimir Putin, is ordering his nation to remove all dollars from its Wealth Fund and put them into more stable financial assets.
Russian Finance Minister Anton Siluanov revealed they will switch the dollar out with pounds, euros, gold and yuan in reaction to Biden’s plans for overwhelming spending.
Russia’s National Wealth Fund (NWF) is operated as a fund to circumvent economic instability. The Russians believe that the U.S. dollar will not be worth the paper its printed on after the real economic disaster hits.
“We have chosen to lower investments of the NWF in dollars,” Finance Minister Anton Siluanov said at the International Economic Forum in St Petersburg.
Analysts are stressing that this might be the beginning of top nations going against the dollar, which might ultimately mean the end of U.S. dominance over the world.
“Other nations have also greatly lowered their dollar reserves over the previous two decades but Russia does have a special interest in doing this quickly in order to undermine confidence in the U.S. dollar with Russia being a rival,” Matt Gertken, a geopolitical analyst reported.
“It is unlikely that Russia will completely remove dollars from its assets since that would be a foolish decision,” he added.
Russia is attempting to survive a U.S. economic collapse. It seems they understand, probably better than any conservative organization in American, just how terrible Biden has been for our economy.
Author: Scott Dowdy