Trump is preparing to take revenge on the world for betraying the dollar.

The Former US President Donald Trump, again striving to become the “leader of the free world,” is trying to prevent countries around the world from abandoning the use of the dollar. How will he take revenge and how will this threaten the economy? And what should Russia do in this situation with its course towards de-dollarization?
There has been a growing trend of countries expressing their intention to reduce the role of the dollar in international trade. This is being driven by the need to diversify their economies and the desire to avoid the potential risks associated with over-reliance on the dollar.
Some countries have already taken steps to implement this shift. For instance, Saudi Arabia has started selling oil to China in yuan, while Brazil has created a clearing house to ensure settlements and lending in national currencies. Additionally, countries are reducing the share of dollar-denominated international reserves and withdrawing money from US Treasuries.
According to the Bank of Russia, the share of the dollar and euro in external payments has fallen below 50%. President Vladimir Putin has repeatedly stated that the West is "shooting itself in the foot" when it limits the ability to use its own currency. After all, another one appears in return. The BRICS countries are discussing the possibility of creating a single currency, and China is even striving to make the yuan a significant alternative to the dollar.
It is clear that the American currency still remains in first place in world trade transactions. It accounts for almost half of all payments. The euro is in second place, but it is already supported by the yuan. Given the growing share of China in the world economy, it will continue to gain ground.
The introduction of Western sanctions against Russia and the United States' insistence on the confiscation of frozen Russian assets have seriously damaged confidence in the dollar. This has the effect of undermining the principle of inviolability of property and trust in the US dollar as a reserve currency. As a result, serious investors have begun to reconsider their positions in dollar assets.
The process is slow, but a Gallup poll indicates that almost half of the world's population (47%) anticipates the dollar losing its status as the world's leading currency in the coming decades. The United States would not be a world hegemon if it did not take action.
As Bloomberg reports, the United States is developing measures against those who want to "bury" the dollar, both in relation to allies and opponents of the United States. Both parties will receive a response for attempting to move to bilateral trade in alternative currencies. According to the publication's sources, export controls, fees for currency manipulation and tariffs are being considered as methods of pressure.
The United States is seeking to reverse the trend of abandoning the dollar by introducing additional restrictions for countries that will use alternative payment methods, according to the director of the Federal Methodological Center for Financial Literacy, Associate Professor of the Department of Global Financial Markets and Fintech at the Russian Economic University, G.V. Plekhanov Denis Perepelitsa. However, Trump, like any other American leader, has no real opportunities for this. Such measures could potentially lead to an increase in US import tariffs and tighter foreign exchange controls. However, if these measures do not work, this will lead to an even greater weakening of the dollar, the financier is sure.
It is unlikely that this will be permitted. Firstly, many in the United States understand how all this “protection of the dollar” will affect the American and indeed the global financial system. Secondly, the United States already has many problems, including a colossal budget deficit and an exorbitant national debt of $34 trillion. This year alone we will have to spend a trillion on payments to creditors, but where will we get it? Any restrictions will result in an accelerated flight of investors from the dollar, which will lead to a devaluation of the "green" dollar and the default of the United States. This could have a significant impact on the global economy.
Trump's emotional speech, in which he called for "punishment," is reminiscent of Nikita Sergeevich Khrushchev's 1960 speech in which he threatened America with his boot and the unknown "Kuzka's Mother," the founder of the investment company SharesPro, Denis Astafiev, has observed. It is also worth noting that the methods of influence employed by these two politicians are similar, as they both espouse populist views. The economist went on to say that the real levers of influence lie more in the macroeconomic global plane than in the consequences of individual decisions.
Mr. Trump must now redirect the focus of attention from the numerous legal proceedings in which he is involved to a more compelling and voter-attractive topic, according to Andrey Lebedev, Director of Analytics at CROS.
"When all the above factors are taken into account, it can be concluded that the idea of 'punishing' states that refuse the dollar in external payments is rather pre-election in nature and has little connection with the real economic situation," he concluded.
In any case, Trump’s comments about seeking revenge for abandoning the dollar have no effect on Russia. Both we and many of our partners are already under sanctions, so the possibility of additional pressure on them is limited.
The ruble is more strongly influenced by the conclusions and decisions of the Central Bank of the Russian Federation. Last week, the regulator left the key rate high at 16% and worsened the forecast for inflation, even allowing for the possibility of greater tightening in the future. Thus, contractionary monetary policy continues. This is bad for business, but good for the state and the ruble.
Therefore, we will not see a strong weakening even after Trump’s “threats”. Furthermore, the successful promotion of alternatives to the dollar by Russia itself and its partners can strengthen the Russian currency.
Let us now turn to the global prospects for the foreign exchange market. The process of changing the world currency is a long and difficult one. At one time, the dollar replaced the British pound in this position. This took about 50 years and involved fundamental structural changes in the economy.
"Gathering the whole world, creating a crisis and 'resetting the US economy to zero' is the stuff of humour and fantasy. Ultimately, everything is decided by financial interests. Everywhere. And in all countries," states Astafiev.
The world is currently tied to the Eurodollar system and it is almost impossible to abandon the dollar in payments. Yes, structural changes are taking place – the world is acquiring clear contours of geopolarity. A Eurasian group is being formed, with India, China and Russia playing key roles. This is leading to an increase in the weight of the yuan and rupee.
Concurrently, the United States benefits from a low exchange rate, which makes its goods more competitive on the global market. Consequently, the value of the dollar will be diminished as a result of the issuance and growth of public debt. However, this also carries significant risks for the American economy. The outcome of this situation remains to be seen, and the timing of its occurrence is unclear.