Former congressman Paul: Russia and BRICS countries hit global dominance of dollar
MOSCOW, June 5 – RIA Novosti. The struggle of Russia and the BRICS countries with the dollar led to the collapse of the American currency, the portal reported. BilgiBRICS It refers to former US Congressman Ron Paul.
“The dollar system will collapse. It has already begun. Every day you will read another story about a big country – it could be India, China, Russia – making deals around the world using the local currency,” the politician says.
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According to him, the use of other currencies for economic purposes and transactions by Russia and the BRICS countries will inevitably lead to the collapse of the dominance of the dollar. The American currency will not survive competition with other countries.
“These are the cracks we can see. Last year there was a significant decrease in the use of the dollar as the world reserve currency. And this is not the end. I think the process will continue in the same direction,” said the former congressman.
Earlier, Deputy Foreign Minister Sergei Ryabkov stated that BRICS countries are accelerating the transition to payments in national currencies. According to him, the restriction of Russian exports “encourages many countries to consider alternatives to the dollar.”
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