RATE Group | Turkey Throws Another Wrench Into the USD’s Works and Joins Russian Swift
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Turkey Throws Another Wrench Into the USD’s Works and Joins Russian Swift

13 Oct Turkey Throws Another Wrench Into the USD’s Works and Joins Russian Swift

Posted at 12:48h in Bitcoin News by

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Turkey Throws Another Wrench Into the USD's Works and Joins Russian Swift

The dominance of the U.S. dollar as the global reserve currency is being robustly challenged on all fronts. Other geopolitical powers and smaller but important players are unwilling to accept the political influence Washington exerts through its fiat money. And in times of trade wars, sanctions, and even tensions between allies, the push to dethrone the Greenback is once again gaining traction. Turkey is now joining Russia’s version of Swift to trade with Moscow directly in rubles and liras.

Also read: Why Bitcoin Is Better Than Banks: Major Credit Card Breach Exposes 60M Accounts

Trump vs Turkey

Moscow and Ankara have long since put the incident with the Russian fighter jet Turkey downed over Syria four years ago behind them. And since the 2016 coup attempt against Turkish President Recep Erdogan, the two Black Sea neighbors have been moving closer and closer together. In a controversial move from a North Atlantic perspective, Turkey recently bought…

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