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US dollar is ‘a huge black hole,’ expert says

The greenback threatens to swallow the wealth of both countries and individuals, according to Wang Zaibang.

The United States has violated the major principles of the capitalist market economy and is poised to break the global political and economic order, Wang Zaibang, a senior researcher at China’s Taihe Institute, told Russia’s RIA news agency on Thursday.

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According to the expert, Saudi Arabia and the US’ other Middle Eastern allies have grown dissatisfied with the actions of Washington in recent years.

“Today’s America is unreliable and untrustworthy,” he said, noting it as the reason why Riyadh and Beijing had accelerated discussions on the issue of crude settlements in Chinese yuan. If the talks are successful, they will have a profound impact on China-Saudi oil cooperation, international monetary relations, and the entire financial order, he added.

“The dollar has turned into a huge black hole, which, at any time, could destroy the wealth of countries and individuals,” he said.

Wang explained that, even though the US is the world’s largest economy, there is no solid reason for its currency to continue to maintain a dominant position.

“In recent years, the United States has recklessly used dollar hegemony to unleash boundless liquidity, which has led to a glut of dollars around the world and a sharp increase in financial risk in many developing countries,” the researcher said. “In particular, by creating geopolitical risks, the United States has provoked a surge in commodity prices, at the same time increasing the risk of higher interest rates.”

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Source:RT News

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4 COMMENTS

  1. Two-thirds of Americans & British have no saving and live on a pay check by pay check basis. Any large scale unemployment due to recession will hurt very badly in these two countries. NZ-Australia also moving in the same direction. 40% of USD was created just in the last year. Chinese, Japanese, Koreans and Saudis holding USD must be pissed off when US passes on their inflation on to them. Bankrupt US & UK governments borrowed too much and they cant do borrow and run the show once the petro dollar gets replaced in the future. I am sure the legacy media will spread Russophobia and Chinaphobia or the “yellow peril” rhetoric and defend themselves from their public. Most public wont even know who Blackstone Group is thanks to MSM. They will soon enter Australia and NZ once these dollars fall when the petro dollar collapses bringing the over inflated unafforable housing market collapses.

  2. If you look at the debt levels of the US, UK, France and Italy, all over 100% and growing, they will never get this under control and have printed money over the last year. This will lead to a collapse of the US currency and the rise of the world digital currency which will spell the end to our freedoms. NZ is already heading down the path of digital currency and the UK has announced programable digital currency. Watch this space.

  3. I read this on youtube comments

    The hubris of some American’s regarding their own sanctimonious self interest, while criticising the, often lesser, crimes of others, is about the only thing that makes America “exceptional”.

    Once the dollar gets replaced, the evil will fall.

  4. One can look at things from many angles, point out specific developments, discuss various themes, like wars, carbon measures, energy crises, left vs right, legislature, currency woes, corruption, demise of education, confusion of minds, the lying media and on and on and on.
    But there is one central core subject that is hardly ever mentioned or discussed. It’s the elephant in the room that hardly anybody is willing to touch. It is sensitive, because the world has learned to not touch that elephant. And that elephant, responsible for the biggest scam ever perpetrated on humanity, has constructed the Central Banking system/scam, enslaving the people of this planet since 250 years. With fractional reserve banking and compound interest, one dynasty and their accomplices have managed to use the world as their farm, sucking all wealth into their grip. It is an inter-generational cabal/clique/club/cartel, who calls ALL the shots and who subsequently owns the world (Vanguard/Blackrock et alt.). It is the vampire squid, people like Matt Taibbi (The Great American Bubble Machine: https://www.rollingstone.com/politics/politics-news/the-great-american-bubble-machine-195229/ ) and G. Edward Griffin (The Creature from Jekyll Island: https://www.youtube.com/watch?v=lu_VqX6J93k ) try diplomatically to explain. But what even they cannot openly talk about is, what makes one into a pariah, where one gets censored, canceled, cornered. Some aspects of research or discussion might even land you in jail in many Western countries. You know you are over target, when you get flak.
    And for this cartel, the above mentioned themes are mere TOOLS to further their agenda, war being the most lucrative. The themes keep the herd between struggle and vain entertainment. The cartel is the “Synagogue of Satan”, written about by Andrew Carrington and put into a video here: https://archive.org/details/TheSynagogueOfSatanDocumentaryBasedOnAndrewCarringtonHitchcocksBook
    The video is long but A MUST TO WATCH (or extract the audio and listen to it while stuck in traffic). Brave through it. (Here is a condensed version as an interview with the author: https://archive.org/details/AndrewCarringtonHitchcockTexeMarrsTheSynagogueOfSatan
    I wish one could interview Carroll Quigley (Tragedy and Hope) or Dr John Coleman (Committee of 300 https://www.youtube.com/watch?v=Sc1NxfmtOTc )

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