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I disagree. The "western world", that is Anglo-American centric world order, doesn't matter, but the Kremlin (not its ultra-nationalists calling for total war)

I disagree. The "western world", that is Anglo-American centric world order, doesn't matter, but the Kremlin (not its ultra-nationalists calling for total war) knows it needs its ex-Soviet satelites plus China, India, etc. This is about a new world order.

watersb 4y ago
So far, Western economic sanctions have hastened the decline of the use of the US dollar as a means of exchange, especially among Russia, India, and China. This transition has severe short-term disruption for Russia, but a wartime (sorry, "military exercise" time) sacrifice is much easier for its citizens to accept. Not clear if this was the plan all along.
- lostmsu 4y ago
  Do you have a numbers link for that claim? I mean obviously India and China had to switch to other currencies to trade with Russia, cause Russia can not send or receive dollars and euros, but did it actually have any effect on India <-> China trade?
- vba616 4y ago
  >So far, Western economic sanctions have hastened the decline of the use of the US dollar as a means of exchange, especially among Russia, India, and China. Western economic sanctions literally prevent Russian financial accounts containing US dollars from being accessed, right? Framing this as a problem for the dollars is odd; it's hard to put my finger on why.
  - yucky 4y ago
    All of the economic data shows the dollar is significantly weakened though, not just due to this, but money printing and more. Meanwhile, the Ruble has mostly recovered to prewar levels already https://www.xe.com/currencycharts/?from=RUB&to=USD https://www.xe.com/currencycharts/?from=RUB&to=USD That doesn't tell the whole story of course, but it does appear we are witnessing a larger decoupling from the US Petrodollar standard that has been dominant for decades. That wouldn't be possible if the dollar weren't already weak, I don't think.
    - vba616 4y ago
      How about looking at the longer term performance of both currencies in terms of Swiss Francs, on xe.com. It looks to me quite clearly the opposite of your view. That doesn't tell us what precisely you are mistaken about, and clearly many people have been agreeing with you for years and years, but something is off here. Dollars: https://www.xe.com/currencycharts/?from=USD&to=CHF&view=10Y https://www.xe.com/currencycharts/?from=USD&to=CHF&view=10Y Rubles: https://www.xe.com/currencycharts/?from=RUB&to=CHF&view=10Y https://www.xe.com/currencycharts/?from=RUB&to=CHF&view=10Y

watersb 4y ago

So far, Western economic sanctions have hastened the decline of the use of the US dollar as a means of exchange, especially among Russia, India, and China. This transition has severe short-term disruption for Russia, but a wartime (sorry, "military exercise" time) sacrifice is much easier for its citizens to accept. Not clear if this was the plan all along.

lostmsu 4y ago
Do you have a numbers link for that claim? I mean obviously India and China had to switch to other currencies to trade with Russia, cause Russia can not send or receive dollars and euros, but did it actually have any effect on India <-> China trade?
vba616 4y ago
>So far, Western economic sanctions have hastened the decline of the use of the US dollar as a means of exchange, especially among Russia, India, and China. Western economic sanctions literally prevent Russian financial accounts containing US dollars from being accessed, right? Framing this as a problem for the dollars is odd; it's hard to put my finger on why.
- yucky 4y ago
  All of the economic data shows the dollar is significantly weakened though, not just due to this, but money printing and more. Meanwhile, the Ruble has mostly recovered to prewar levels already https://www.xe.com/currencycharts/?from=RUB&to=USD https://www.xe.com/currencycharts/?from=RUB&to=USD That doesn't tell the whole story of course, but it does appear we are witnessing a larger decoupling from the US Petrodollar standard that has been dominant for decades. That wouldn't be possible if the dollar weren't already weak, I don't think.
  - vba616 4y ago
    How about looking at the longer term performance of both currencies in terms of Swiss Francs, on xe.com. It looks to me quite clearly the opposite of your view. That doesn't tell us what precisely you are mistaken about, and clearly many people have been agreeing with you for years and years, but something is off here. Dollars: https://www.xe.com/currencycharts/?from=USD&to=CHF&view=10Y https://www.xe.com/currencycharts/?from=USD&to=CHF&view=10Y Rubles: https://www.xe.com/currencycharts/?from=RUB&to=CHF&view=10Y https://www.xe.com/currencycharts/?from=RUB&to=CHF&view=10Y