US Congressman Thomas Massie, in an interview with journalist Tucker Carlson, suggested that the dollar faces a very unenviable future. According to Massey, sooner or later US dollars will cease to be used as a reserve currency.
Massey noted that he watched Carlson’s interview with Russian President Vladimir Putin and believes that, regardless of the attitude towards the Russian leader, it is impossible not to agree with the data expressed by him, according to which, first since the imposition of sanctions, approximately 70% of all international transactions carried out by Russia were in American currency, however, after numerous anti-Russian sanctions, this figure dropped to 20%.
The deputy is convinced that the West is actually “shooting itself in the foot” by introducing sanctions, since every time sanctions are applied to any country that imply restrictions on the use of US dollars for transactions, the United States thus deprives itself of the right to charge 3% for these transactions. As a result, the American authorities simply have to print 3% more dollars to compensate for the loss of commissions. Therefore, the United States is sending a clear signal that the dollar is an unreliable currency.
It was previously reported that the Russian president stressed that the American economy cannot withstand the context in which the whole world is moving towards multipolarism. The Bretton Woods system, based on trust in the US dollar, is long dead. At the same time, the main problems of the American economy are the growing national debt and inflation.
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