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→Escape from the fiat dollar system
===Escape from the fiat dollar system===
===Escape from the fiat dollar system===
If the world favors a second, gold-based settlement system and opts out of the [[fiat money]] dollar, which is no longer backed by gold or any [[commodity]] of value. This could lead to the end not only of dollar settlement, but also of the dollar imperium. The US has so far been able to pay for everything in the world with its freshly printed money that has no cover at all and to increase its prosperity in exchange for “fiat money”. If this were no longer possible, if the countries of the world no longer accepted worthless dollars, the [[USA]] would no longer be able to buy all the world's goods with them, to pay for 900 billion dollars in [[military]] expenditure and to cover its financial [[deficit]]s. Dollar dominance will inevitably fade and the dollar decline as the world's top reserve currency, though it will undoubtedly continue to survive in that capacity in parts of the world where the US continues to have considerable political and economic leverage, like [[Latin America]]. In this respect, the financial boycott against Russia and a counter-reaction by the world could result in the collapse of the dollar empire.
If the world favors a second, gold-based settlement system and opts out of the [[fiat money]] dollar, which is no longer backed by gold or any [[commodity]] of value. This could lead to the end not only of dollar settlement, but also of the dollar imperium. The US has so far been able to pay for everything in the world with its freshly printed money that has no cover at all and to increase its prosperity in exchange for “fiat money”. If this were no longer possible, if the countries of the world no longer accepted worthless dollars, the [[USA]] would no longer be able to buy all the world's goods with them, to pay for 1.5 Trillion dollars in [[War Department]] expenditures and to cover its financial [[deficit]]s. Dollar dominance will inevitably fade and the dollar decline as the world's top reserve currency, though it will undoubtedly continue to survive in that capacity in parts of the world where the US continues to have considerable political and economic leverage, like [[Latin America]]. In this respect, the financial boycott against Russia and a counter-reaction by the world could result in the collapse of the dollar empire.
===Effect of US sanctions policy===
===Effect of US sanctions policy===