The United States mastered this art of destruction by weaponizing the dollar and using economic sanctions and financial policies to cause the currencies of targeted countries to collapse. If third countries don’t comply with US sanctions on Iran and Venezuela, the US threatens to impose sanctions on the banks of those third countries, specifically to cut them out of dollar-based settlements (known as the SWIFT system). The BRICS nations, and many others, are expanding the conduct of international trade in their own currencies, thereby building alternatives to the use of the US dollar and thus avoiding these sanctions.
Author: Jeffrey D. Sachs
Published at: 2026-01-25 23:00:58
Still want to read the full version? Full article
