Putin & Xi’s “De-Dollarization” Dream is DEAD!

The issue with this approach is that it’s seen as unreliable, as many countries have unstable currencies and volatile exchange rates. The US dollar, on the other hand, is backed by the largest and most stable economy in the world, with some of the lowest inflation rates in the developed world, making it a logical choice for international transactions.

However, the US has imposed sanctions on Russia and has cut off its access to the dollar, citing its invasion of Ukraine. This has dealt a significant blow to Putin’s plan, and it’s unclear what new schemes he will attempt to revive it.

In recent developments, India has confirmed it will not participate in Putin’s plan, citing the need for a reliable and stable international transaction system. This has left Putin and his allies, such as China, trying to come up with new ideas to promote their own currency. One such plan is the petroyuan, a currency based on oil, but it’s been criticized for its volatility and lack of stability.

Meanwhile, Putin has also launched a crypto scheme, the Putin coin, which is backed by the Russian national payment card system. This move has been met with skepticism, given the volatility of the cryptocurrency market and the lack of trust in Putin’s leadership.

It’s clear that the US dollar remains the preferred currency for international transactions, and any attempts to replace it are unlikely to succeed. In the end, it’s up to countries to make their own decisions about which currency to use, but the US dollar’s reputation for stability and reliability is unlikely to be surpassed anytime soon.