Currently, the dominance of the US dollar in world settlements is “beginning to end.” In five years the world monetary system will be “more balanced” declaration Russian businessman Oleg Deripaska is on his Telegram channel.
“After the dominance of the (dollar in the global settlement system – socialbites.ca), this dominance was used as a weapon of retaliation against all dissidents without any legal consideration – the same sanctions against companies that employ tens, hundreds of thousands of people – this dominance began to end very quickly. starts <….> Already in 5 years, the world will be more balanced, calculations will be diversified, crypto-digital currencies will be compatible,” Deripaska wrote.
According to him, the end of the dollar-dominated era will not be an easy process, especially at the beginning of the transformation of the currency consensus system. The transition will have its own negative consequences for the Russian economy as well.
“It will be difficult at first, but then the world will discover a new quality. But it will already be a non-hegemonic world. The only sad thing is that our enslaving financial system has dragged us down for a long time and hung like a heavy weight of expensive loans in the Russian economy,” Deripaska concluded.
April 22 edition of Business Insider (BI) citing Eurizon SLJ Asset Management data reportedthat the dollar’s position as the global reserve currency weakens 10 times faster in 2022. Various units of national account and the gold-backed stablecoin are increasingly being used as tools to undermine the influence of the American currency.