By Syed Zafar Mehdi
The dollar system is under unprecedented strain, largely due to the behavior and actions of the United States itself, says a world-renowned economist.
In an interview with the Press TV website, Paulo Nogueira Batista Jr., a Brazilian economist and former Executive Director at the International Monetary Fund (IMF), noted that the dollar has been weaponized by the United States.
"It (US dollar) is no longer seen by many as a safe haven. Moreover, the fragilities of the US economy also undermine trust in the dollar," said Batista Jr., who was one of the founding members of the New Development Bank (NDB) in Shanghai.
"In my view, the most probable scenario is the continuation of a gradual decline in the dollar. This decline may be accelerated if a new major financial crisis occurs in the US."
The process of de-dollarization has gained significant momentum in recent years with the emergence of new regional alliances such as BRICS, led by China and Russia.. more below
The prices of some life-saving medicines have soared to levels that are unaffordable for ordinary people in Venezuela as the United States has ramped up military presence in the Caribbean off Venezuela's coast, alongside escalating sanctions, blockades and military threats against the oil-rich South American nation since late August.
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At a northeastern suburb in the capital city Caracas, locals can still purchase most of the commonly used medicines at a major supermarket, where some antibiotics have been sold out, and some first-aid medicines and supplies have become too costly for ordinary residents.
"I'm here mainly to buy antibiotics. I have problems with my lungs. But I can't get all I want, such as vancomycin," said a resident named Alfonso.
"Recent tensions have affected the supplies and prices of drugs. The prices of cancer drugs, insulin drugs and albumin are very high, and most patients here cannot afford them," said Giovanna Gonzalez a ...
Russian President Vladimir Putin says Moscow is prepared to use military force to achieve the goals of its special military operation if Ukraine continues to delay peace talks.
During an inspection of a Russian armed forces command post on Saturday, Putin stressed that Moscow will not allow Kiev’s obstruction to prevent progress.
“If the Kiev authorities do not want to resolve the matter peacefully, we will accomplish all the tasks before us in the course of the special military operation by military means,” he said.
The Russian leader noted that the Ukrainian authorities are not moving toward a peaceful resolution, adding, “We see that even today, unfortunately, the leaders of the Kiev regime are in no hurry to resolve this conflict peacefully. I spoke about this a year ago in a speech at the Ministry of Foreign Affairs.”
Putin also received reports from Chief of General Staff Valery Gerasimov and commanders of Russia’s “Centre” and “East” military groups.
Meanwhile, ...
