The financial multi-polar world order is inevitable. This was stated by Prime Minister of Belarus Roman Golovchenko in on "Belarus 1.
According to him, the gangster seizure of Russian foreign exchange reserves (about $100 billion) was the last nail hammered into the lid of the U.S. currency supremacy. From that moment it became clear that tomorrow your money might not be yours. Funds can be seized and taken away.
Everyone in the world knows that the volume of U.S. securities, Treasury bills or T-bills, which were considered a safe haven for absolutely all investors far exceeds the liquidity of the U.S. financial system.
Roman Golovchenko, Prime Minister of Belarus:
Even if we hypothetically imagine the option that even if China alone, which is the largest holder of these bonds, presents them for redemption at one time, there would be a collapse. Everyone understands this, but the inertia of the financial system is very large. All financiers understand that it will come to an end one day.
The Prime Minister believes that there won't be a grand collapse, because it will bury the world economy (60-70% of all communities in the world are tied to the dollar). "Financiers understand that this system will come, if not to collapse, but at least to a great imbalance."
Roman Golovchenko:
Now there are processes, maybe unseen, of a gradual departure from the use of the dollar as the main currency. Negotiations between Saudi Arabia and China on the supply of oil for yuan are actively going on. There will already be "petro yuan," as they called it.
The BRICS countries are seriously talking about settlements in national currencies
The most important thing is a currency, which is guaranteed not by a virtual unit, not by gold (the world has little gold and its production is small), but the currency, secured by commodities, says the Prime Minister. There must be a currency for which you can buy something. That is why the maneuver of Russia with the sale of gas for Russian rubles shows: if you want to buy a Russian valuable resource, pay for it in rubles. And everybody understands that in order to buy gas you have to have rubles. The same will happen with Chinese goods: whoever wants to buy, must have yuan. "Financial multipolarity is an inevitability. In Belarus, we have long advocated dedollarization," said Roman Golovchenko. - It is not going to be easy. Belarusians are unique in their strong peg to the dollar. Neither the Russian Federation, nor Kazakhstan or Armenia have such a peg.”
During the first quarter of the year, the share of Belarusian foreign trade in dollars decreased by 5%. This is a lot for one quarter, said the Prime Minister. And within the EAEU (these are our main trading partners) this share is even smaller.
Roman Golovchenko:
“We have programs of de-dollarization of the National Bank of Belarus and the Belarusian government. It will become more relevant over time. We are confidently pursuing this course, especially since it lies in the mainstream of the world economic model, associated with the rejection of the dollar as the sole means of payment.”













