RE:Thank you Biden for weaponizing SWIFT The de-dollarization trend is clearly accelerating. And to whatever extent it occurs is a problem for the U.S. There is already an overabundance of U.S. Treasuries in the marketplace and this is driving up yields. That means higher interest expense for the U.S. government.
It’s important to remember that nothing guarantees the dollar will maintain its dominance forever.
Biden foolishly used SWIFT to attack Russia.
The initial promise or purpose of SWIFT wasn't to be used in the sanctions system, and they changed the rules.