Ron Paul Warns of American Currency Collapse as BRICS Countries Gear Up to Challenge the US Dollar
Former Congressman Ron Paul has voiced concerns that the US dollar’s status as the world’s reserve currency is declining as countries worldwide grow tired of America’s interventionist policies. In a recent YouTube update, Paul highlighted that it is not surprising that other countries are now trying to compete with the dollar.
Over the past few years, the USD has suffered significant hits to its reserve status, but according to the former presidential candidate, this is just the beginning. The US government has a history of intervening in personal and economic liberties, as well as in the internal affairs of other nations. The US punishes other countries with sanctions and then complains when they begin to compete with the dollar.
The past year saw a significant decrease in the use of the dollar as the world’s reserve currency. Paul believes this is just the beginning, as he warns that BRICS, a coalition of Brazil, Russia, India, China, and South Africa, is the first chapter in a coming tidal wave against the dollar. He expects more countries to form similar bodies of power.
Paul believes that the dollar system will collapse and that it has already begun. Every day, there are reports of major countries such as India, China, and Russia making deals around the world, exchanging in their local currencies. The BRICS countries are also coming together to compete.
Russia’s Chairman of the State Duma Committee on the Financial Market, Anatoly Aksakov, has stated that negotiations on a new BRICS currency are already underway, with an agreement expected to be reached this year. Aksakov believes that by linking its economy and currency to politics, the US is undermining the foundations of its dominance, and he expects the share of the dollar in world trade to steadily decline.
Clever Robot News Desk 3rd May 2023