De-dollarization is a topic that analysts and economists have raised repeatedly. This tool is used to frighten the United States. However, Washington is not giving in. The White House confidently speaks of the strength of the US economy and the hegemony of the dollar. But how long will this last?
According to Diane Sare, an independent candidate for Senator of New York, de-dollarization of the global economy is marching confidently across the planet. "I think that is happening. It is happening. And it doesn't have to be that way, but because of our policies, I think people really don't have a choice," Diane Sare emphasized.
In her opinion, the best solution at the moment is to move to a basket of currencies and fixed exchange rates. Diane Sare added that this was necessary to close the loophole that people used for currency speculation, which had destructive consequences for national economies.
Moreover, the politician spoke out against sanctions on Russia and China. Notably, she supports the reorganization of the transatlantic system. She believes that other countries are seeking alternatives to the dollar due to the current financial conditions set by Washington.
Previously, Diane Sare spoke out against NATO. She also participated in the 2022 elections, garnering 0.46% of the New York vote. As a result, the Senate candidate came in last place.
Earlier, the GeoEconomics Center noted that the efforts of BRICS countries towards de-dollarization had not yielded positive results. Moreover, the dominance of the greenback has significantly strengthened. The organization emphasized that many large countries were looking for alternatives to the US currency but had been unsuccessful.
In October 2023, Elsa Lingos, global head of Foreign-Exchange Strategy at RBC Capital Markets, called the process of global de-dollarization “ridiculously slow," especially considering the shock of the freeze on Russian assets.