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The U.S. has waged an economic war against most of the countries of the world, which holds a total of more than $15 trillion GDP. These countries include North Korea, Russia, the DRC, Iran, Cuba, and many others.

Washington has sanctioned these countries over many years. The countries such as Pakistan, China, and Turkey are not fully sanctioned but remain targeted by other economic measures.

According to the U.S., it is happening for a good reason to control practices like the unfair trade, property theft, violating human rights, corruption, terrorism, nuclear trade, and others.

The other countries are trying to form a parallel financial system that would help them to discard the U.S. currency at all. This decision taken by them together would be transformational for the U.S. global financial system.

For this, China and Russia have developed a SWIFT (Society of Worldwide Interbank Financial Telecommunications) to challenge the U.S. financial system. This society would allow making transactions all over the world among various banks.  This is encouraging many to ditch the U.S. currency.

For Belt and Road Initiative, China is asking the trading countries to deal in Yuan rather than dollars. Iran and Pakistan have confirmed to do the transactions in this way. The BRICS has put forth the hegemony against the dollar with other countries like Argentina, Egypt, Jamaica, and Turkey and asked to join BRICS to reach the goal of creating an economy without dollars.

The global oil trade of around $1.7 trillion has already been linked to the U.S. currency as Saudi Arabia and other OPEC countries have decided to sell their oil in dollars only.

Despite all this, the U.S. financial system will not remain as strong as before because many countries have joined the anti-dollar campaign.

The central bank of Russia is thinking to launch “cryptoruble”, a national cryptocurrency while Venezuela is also of “petro”. The members of BRICS are also deciding to do the same regarding a common cryptocurrency.

All these decisions would result in the U.S.’ detriment as many countries took forth their commitment to degrade the dollar hegemony. Now, to thwart the efforts of these countries would be Washington’s top priority.