The specialist has identified a “point of no return” for the dollar.
According to expert Andrey Kochetkov, the United States will not be able to reset all the dollars that are in Russia.
He told the agency “Prime ” about this.
Kochetkov noted that the US will not be able to reset internal calculations in Russia, because there is no database in the world in which the ownership of banknotes to a particular person or state would be recorded.
Thus, any threats to settlements with cash currency look unrealizable.
As Kochetkov stressed, if the United States continues to impose restrictions on transactions with dollars, the status of this currency will continue to decline.
“Already today, blocking funds on a national basis is perceived negatively not only in third-party countries, but also in the public consciousness in Europe and the USA, ”, – the specialist noted.
He assumes that the dollar’s share in international reserves will decrease, as will its role in international settlements.
According to him, this will lead to a drop in demand for US treasuries, and then to dollar inflation.
The possible decision of the Fed to launch the printing press will continue to spoil the US currency.
Thus, the point of no return for the dollar has already been passed, and many countries have already started searching for its replacement.
Kochetkov noted that the West’s blocking of $300 billion worth of Russian reserves means a political default of the United States and Washington’s actual recognition of the lack of security guarantees for the reserves of other countries, for example, China and Arab states.
The expert predicts a massive withdrawal of countries from the dollar this year.
Earlier, topNews wrote that Joe Biden banned the supply of dollars to Russia. According to the US president, the new measures will increase the sanctions pressure on the Russian Federation.