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Did We Just Enter the Beginnings of the Post-Dollar Hegemony Era?

The Breakdown

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The Global Banking System Is a Way to Keep Track of What Society Thinks You Get

Until recently, such opportunities for disruption simply didn't exist. Swift was not created until 19 78. As recently as the middle of the twentieth century, international banking still regularly involved shipping large amounts of gold around on boats. Even in the face of sanctions, russia has refused to recognize the sovereignty and property rights of ukraine. So it has few legs to stand on while complaining about having its lunch money stolen. These sanctions will also permanently undermine the widespread assumption that global banking is a merely neutral and rules base system.

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