The businessman is convinced that the American currency will lose its status by the end of the 2020s.
Russian billionaire Oleg Deripaska has warned of an imminent collapse of the US dollar within five years. The owner of Rusal is convinced that the dollar will lose its status as the key global currency by the end of the 2020s.
According to the billionaire, until recently it seemed that the dominance of the dollar in global calculations was unshakable. However, US sanctions and dollar dominance have shown that its peak is ending at a very fast pace.
Deripaska believes that in five years, the global financial system will be more balanced: regulations are diversified and crypto-digital currencies will be compatible.
“Yes, at first it will be difficult, but then the world will discover a new quality. But it will already be a world without hegemon. The only pity is that our enslaving financial system will drag us down for a long time, suspended like an expensive lending juggernaut in the Russian economy,” Deripaska wrote on his channel.
He, however, criticized statements by former US Treasury Secretary Lawrence Summers, who heralded the dollar’s perpetual outlook. “In a way, to be honest, I can’t believe it,” Deripaska said.
Every day in the world, more and more countries and politicians are proposing to abandon the dollar in international trade. For example, Brazilian President Luiz Inácio Lula da Silva recently called for the abandonment of the dollar in trade between BRICS countries.
According to experts, if even the BRICS countries stop using the dollar, then the American economy will suffer a blow no less terrible than a nuclear blow: the money mass withdrawn from circulation will cause the American currency to fall.
Earlier, Deripaska found the reason for the low growth rates of the Russian economy. According to the owner of “Rusal”, the standard of living of Russians is steadily declining due to the fact that we are like “East African baboons”.
Read the Russia Ukraine News on The Eastern Herald.
