It appears that way. Putin kicked the private western banks out of Russia two years ago. He went back to a gold backed Ruble. The BRICS alliance is gaining steam. Half the worlds population belongs in the BRICS Alliance. More are applying. They aren’t trading in USD. Saudi Arabia is accepting Rubles as payment for their oil. And will accept the Chinese Yuan soon. Europe gets most of their energy from Russia, which only accepts Rubles as payment.
Banks are collapsing and the USD is backed by 32 trillion in debt. It’s worthless paper. The Ponzi scheme is coming down.