Russian President Vladimir Putin sharply pointed out the significance of the United States using the dollar as a tool for political conflict.
In a recent interview with conservative commentator Tucker Carlson, Putin criticized the U.S. leadership and the Biden administration for using the dollar “as a tool in the foreign policy struggle.”
Strict economic sanctions have been imposed since Russia attempted to invade Ukraine. The goal is to block Russian banks from trading in dollars, pounds and euros, limiting the country’s war resources and shrinking its economy.
“Using the dollar as a tool of foreign policy struggle is one of the biggest strategic mistakes made by the American political leadership,” Putin said. “It is the main weapon the United States uses to maintain its power around the world. As soon as the political leadership decided to use the US dollar as a tool of political struggle, this blow to American power was dealt. “That is foolish and a grave mistake.”
See the interview below.
Putin also claimed that BRICS, which consists of Brazil, Russia, India, China and South Africa (expanded to include countries such as Saudi Arabia and Iran), has moved toward using alternative currencies for trade.
Despite Putin’s comments, the dollar remains dominant in global foreign exchange reserves, with its share reaching 59.17% in the third quarter of 2023, according to recent data from the International Monetary Fund (IMF).
Top economists have also dismissed the notion of a currency replacing the US dollar as “absurd.”
Carlson approaches.
Putin’s criticism of the dollar is consistent with Carlson’s views on the currency. At a business conference in Las Vegas in November 2023, Carlson defended Bitcoin’s potential to liberate individuals from what he sees as the whims of authorities.
Carlson, who was fired from Fox News in April 2023, said Bitcoin’s promise lacks the ability to make holders rich. Rather, Carlson argues, its potential lies in how it can help users gain “independence from those with historically diluted currency values.”
Carlson’s views come amid an ongoing investigation into financial censorship in the United States, citing an incident in which a Bitcoin miner’s bank account was suddenly frozen. Such a scenario, he suggests, could be a repercussion of governments seeking to maintain currency control.
In his opinion, Bitcoin offers a viable route out of this cycle.
This gradual trend has raised questions about the dollar’s long-term dominance as a global reserve currency, especially given the US’ $34 trillion national debt.
aftermath
Carlson has since been criticized by other media outlets for failing to challenge Putin’s claims on a variety of topics. Observers have gone so far as to call the former Fox News host a “useful idiot” for appearing to use interviews simply to appeal to a far-right audience during the election.
It’s worth noting that Donald Trump, the Republican frontrunner for the 2024 US presidential election, whom Carlson supports, recently said he would “encourage” Putin’s Russia to attack NATO allies.
Putin dismissed claims that Moscow was seeking to attack other NATO countries. But that doesn’t hold water in the eyes of the White House.
“Remember, you are listening to Vladimir Putin,” said White House national security press secretary John Kirby before the interview was posted online. “And you shouldn’t take what he says at face value.”