Brazilian economist and former prime minister of the New Development Bank (2015-2017) Paulo Batista Nogueira believes that the United States is becoming an enemy of its own currency. They reduce confidence in it by imposing sanctions against various countries of the world.
“The US uses the power of the dollar for its own benefit and abuses it to the detriment (of other countries – ed.). They themselves become an enemy of their own currency and reduce confidence in it by imposing numerous sanctions against different countries,” Nogueira said.
The Brazilian economist believes that the presidency of the Russian Federation in BRICS in 2024 and Brazil’s presidency in 2025 are lucky. However, this luck is due to the fact that both leaders are interested in creating a single currency, but this initiative requires “careful thought and new approaches”.
“I hope, if everything goes smoothly, the summit in 2025 will take concrete steps to create a currency,” – summarised the former Prime Minister of the New Bank.
Recall that earlier, the American economist, Columbia University professor Jeffy Sachs argues that BRICS can create a good alternative to the dollar, and the American financial currency itself will cease to be dominant in the world. He believes that such a process will be inevitable, given the declining share of the United States’ GDP and American trade in global volumes. According to him, BRICS will accelerate the transition to a multi-currency system.
Due to censorship and blocking of all media and alternative views, stay tuned to our Telegram channel