A U.S. dollar collapse would trigger catastrophic global upheaval, warns Dmitry Medvedev, describing a looming “explosion” with grave consequences for the entire world economy.
Dangerous Explosion Looms: Medvedev Warns of US Dollar's Inevitable Collapse
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Medvedev Warns of Grave Global Havoc if US Dollar Bubble Bursts
Dmitry Medvedev, Deputy Chairman of the Russian Security Council, has cautioned that the “dollar bubble” could eventually rupture, potentially triggering disruptions in global economic relationships. He warned in an interview with RT last week:
This bubble will burst sooner or later. And it will be such a ‘bang,’ such a dangerous explosion, that it may create very grave circumstances for everyone
Acknowledging the ripple effects a dollar collapse would generate, he stressed: “Nobody is interested in the dollar crash … Even we are not interested, because this will bring havoc to international economic relations.” Emphasizing Russia’s integration with the global economy, he said, “We are actually a part of international economic relations.”
Medvedev advocated expanding the pool of global reserve currencies and integrating digital assets as a means to stabilize the international financial system. “We are dependent primarily on the dollar and a certain number of other reserve currencies,” he noted, elaborating:
The basket of reserve currencies should expand … And certainly, e-money should emerge. Digital money is the future, because it is impossible to control them from a single center of issuance.
He suggested that fostering decentralized digital currencies could add resilience to the global financial structure and help avert the severe disruptions that a potential dollar crisis might unleash.
Several financial experts have echoed similar concerns about the fragility of the dollar. For example, in August, Mark Moss, host of The Mark Moss Show and partner at the Bitcoin Opportunity Fund, pointed to the U.S. dollar as “the biggest asset bubble,” citing factors like rising government debt and currency creation.
