The struggle against the dollar for global monetary hegemony,

Santiago Mondéjar,

The announcement by Mikheev – the head of the state arms export consortium – that Russia and India have agreed to stop using the US dollar in their mutual transactions not only shields Russia’s supply of S-400 missiles to India from potential sanctions, but presumably signals the first in a series of skirmishes in a currency war for control of international financial flows, in which China, and to a lesser extent the European Central Bank, are also taking positions and which seems inevitable.

These moves should not come as a surprise to anyone, given that the US dollar, more than a currency, is the vehicle around which US global commercial, security and cultural affairs revolve, to the extent that there has been a direct cardinality between America’s global financial and military leadership over the last 100 years, but especially since the time of Richard Nixon’s presidency. Läs artikel