Venezuelan situation deals fatal blow to US business reputation

27.02.2019. Moscow.

Until a pro-American regime is set up in Venezuela, the US and Great Britain will not unfreeze Venezuelan assets, according to the  Deputy Director of the Alpari information-analytical center, Natalia Milchakova, REGNUM reports on February 27.

The expert says that the myth about the US as the safest place for keeping foreign states’ assets and gold reserves is especially popular in Latin America. Moreover, the US dollar is the national currency of Ecuador. This is all the more surprising given the fact that many Latin-American countries are ruled by left-wing politicians or even communists.

 “So, Latin-American countries criticize the US and advocate their own way of development in word, but only until the question of gold reserves arises,” explained Natalia Milchakova. This is the key to understanding why the US does whatever it wants with Latin-American countries and treats them as its colonies, which don’t have their own opinion differing from the US view.

However, in the context of sanctions war, it is too risky to keep gold reserves of countries that oppose the US or are too independent.  According to the expert, “political risks have already tarnished the US reputation as the safest place for keeping assets, and in future they may undermine the US dollar’s credibility as the most reliable currency in the world.

Milchakova recalled that certain countries have begun to abandon the long-established practice of keeping their sovereign funds in the United States. In 2018, Turkey withdrew all its gold reserves from the US; Germany insists on the return of part of its gold reserves, and Russia reduces the share of its international reserves denominated in the US dollar.

The US and the Great Britain froze Venezuelan assets, including those of its state companies, amounting to $30 billion as well as the country’s gold reserves valued at $1.2 billion.

Editorial comment

At this time, the US is no longer the de-facto unequivocal world leader. The Munich Security Conference has reaffirmed this. Its introductory report states that it is the competition between the US, Russia, and China that determines today’s world politics.

According to political scientist Sergey Kurginyan, the critical break happened in Iraq, where US finally abandoned the strategy of a new Pax Romana, bringing a new world order on the shoulders of its troops.

Having lost its leadership position, and given the inability to take it back, the US have chosen the strategy of creating and maintaining a systemic chaos all around the world, while being guided by principle “if you can not improve your own situation, make your opponents’ situation worse.” There are many people, who believe that chaos in the world politics will only gain momentum. In this situation, only that actor, which is not afraid to defy the US, has a shot at staying on its feet.

Source: Rossa Primavera News Agency

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