American expert predicts Dollar collapse

An expert of the US Centre for National Interests, Harry Kazianis, said the Dollar dominance in the world would soon come to an end – as reported by ONT TV channel

Photo: www.reuters.com

"It is impossible to be a superpower if your economy is in a catastrophic state. Let us face the truth: this year, we will borrow about $1 trillion. The interest rate that we will pay on this debt will be astronomic,” Mr. Kazianis told Fox News.

The expert warned Americans, “If our currency is no longer a reserve one, then the amount of money we will spend on debt servicing alone will skyrocket – in addition to inflation and further debt growth."

It has become earlier known that China is considering a possible transfer of energy trade with Russia to Yuans or Roubles.