Could Russian Sanctions Destroy the Dollar?

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Will the new sanctions against Russia “ensure the end of U.S. dollar dominance”?

A disconcerting question — especially if you count your money in U.S. dollars.

But could it be true?

Could the latest Russia sanctions somehow bring down the curtain on U.S. dollar dominance?

And why would Russia sanctions destroy the U.S. dollar?

Jim Rickards — world-famous currency war expert and former CIA advisor — has a theory…

What Do The Sanctions Do?

First, it’s important to know that the U.S. sanctions target the thumping heart of Russia’s economy — its energy sector.

Not only that, but these sanctions apply to both U.S. and non-U.S. companies dealing in Russian energy projects.

“That’s a big deal in Europe,” Jim explains, “because that’s where national energy champions like BP, Royal Dutch Shell, Total and Eni had plans to do joint ventures in the Arctic with the Russian energy giants Gazprom and Rosneft.”

Translation: The EU is ticked off at the U.S. right now.

In fact, Jim says the EU is now considering retaliatory sanctions of its own against these United States.

That is a nightmare scenario for America – and for the U.S. dollar in particular.

But it gets worse…

[Ed. Note: There’s a way to protect yourself from this nightmare scenario. And it’s pretty ingenious. Click here to see what it is.]

As if potential EU sanctions wasn’t bad enough, now Russia is accelerating plans to reduce its reliance on the dollar and associated international payment systems.

Russian Deputy Foreign Minister Sergei Ryabkov:

“We will of course intensify work related to import substitution, reduction of dependence on U.S. payment systems, on the dollar as a settling currency and so on. It is becoming a vital need.”

The thing about “vital needs” is that nations tend to address them with great urgency.

To whom will Russia turn most for assistance in these endeavors?

I bet you can guess…

Hint: They’re Russia’s second biggest trading partner and the region’s largest economy.

That’s right…

China.

The same China that Trump is dead set on picking a fight with.

And the same China that is also famously opposed to a global dollar standard.

Bottom line, China and Russia are likely to become best friends very quickly.

In fact, Trump himself has admitted that the sanctions will force Russia and China closer together.

And in order to fight back, Jim Rickards thinks Trump might ultimately resort to a to restore the dollar to its global throne.

Jim says it would represent the dollar’s “biggest reboot” in over 100 years.

Just what would this “dollar reboot” do?

Click here to find out.

Jim says the world’s been waging a rolling currency war since 2010. Now it seems the world verges on a potentially debilitating trade war.

If that’s the case, you need to be prepared for what comes next.

And knowing Jim’s thesis will give you a leg up on everyone else.

Listen to Jim Rickards’ “dollar reboot” thesis right here.

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