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Thursday, October 5, 2023

The end of the dollar: BRICS countries can create a currency that will destroy “green paper”

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The United States risks facing a real financial threat. A new currency may emerge on the international scene that does not have the flaws of the dollar.

According to the British Financial Times newspaper, Saudi Arabia is seriously considering joining the BRICS’ New Development Bank. Journalists state that the negotiations of the parties have entered an active phase. If this process is brought to a logical conclusion, the world community can achieve a new system of financial relations. Political scientist and economist Vasily Koltashov said this would be an extremely dangerous moment for the United States.

One threat to Washington is the potential BRICS currency, the possibility of which has been talked about a lot lately. The fact is that unlike the US dollar, there will be an issue limit. In other words, the expert explained that if this financial unit emerges, the organization will be associated with the gold reserves of their countries. And this will make it possible to recreate a kind of analogy of the Bretton Woods monetary system. It’s not about the dominance of “green paper” speech in this case.

“If you create a currency similar to the Bretton Woods principles, that is, this new currency is pegged to gold, but not to American gold, but to collective gold – to the gold of the BRICS + countries, then this is just a Koltashov in an interview with a reporter for the People’s News publication, the dollar It’s a currency that can kill,” he said.

Earlier, Tim Krupa and Alec Phillips, economists of the American bank Goldman Sachs, reported in early June that the reserves of the US Treasury Department will be only $ 30 billion. By June 9, they will be completely exhausted if drastic measures are not taken.

Source: Riafan

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