The Era of the Dollar is Over

The dollar is growing, but that’s no reason to rejoice. If in the near future the world does not select a new international monetary unit instead of the dollar, the financial crisis will be prolonged. Only recently, replacing the dollar with the ruble was an economic fantasy. Today, everything is different.

Fakes from the USA

The U.S., at the moment, is a counterfeiter country, which printed unsecured dollars and used them to extort financial support from other countries. This is happening due to the unprecedented power pressure from America, and the absence of an agreed-upon plan to change the financial architecture between the remaining largest powers. Incidentally, such a plan could have been developed by Russia.

Why can’t the modern dollar remain the world currency anymore? The world currency must be backed by real powers: energy, technology, food, clean water, expertise, infrastructure and human capital. Perhaps their exchange among countries (but already in the form of a finished product) will become the basis for the new currency system. Therefore, Moscow must not create a financial and monetary center – “mini-Wall Street on Rublevka” – as many people want, but instead a fundamentally new global monetary center to determine the rules of the international exchange of resources by leading countries.

In the future monetary system, the value of currency will depend not only on the accumulated international reserves (as before), but also on the quality of new scientific, industrial and other projects (not only realized, but also only planned). But for this to happen, the proposed projects must really be groundbreaking scientific solutions, and their feasibility must be demonstrated. That’s when the time of Vnesheconombank will come, as well as of Rostekh, and other Russian governmental corporations.

We’ve got every chance

Already, countries are creating their own reserve currency, for example, Persian Gulf countries, China and countries in Latin America. However, the one that’s got every chance to become world reserve currency is the ruble. On the one hand, we have unique oil and gas reserves, on the other – fundamental practice-oriented science, enabling us to create groundbreaking technologies. These two capabilities allow our country to compete for key positions in the new monetary system. What can we offer to the world? Russia can guarantee the supply of hydrocarbons at non-speculative prices. Plus, we can create a fundamentally new transport and energy infrastructure, such as an ultra-fast magnetic suspension train, and miniature nuclear reactors (necessary in modern industry). It is precisely to consolidate these opportunities, that the ruble of infrastructure investment should be introduced as the reserve currency. It will have concrete material power, which could be traded for other power.

To ordinary Russians, this approach means that they will have a selection of interesting work, greater stability in life, and that they’ll be able to use rubles in any country where they travel. We just have to wait. At least ten years.