from Sputnik News:
WASHINGTON (Sputnik) – Former executive director for Russia at the International Monetary Fund (IMF), Alexei Mozhin, talked to Sputnik about most pressing issues in the global economy, including the dedollarizaiton.
The international monetary system is falling apart, and the trust in the US dollar in the world is falling due to the fact that it is being weaponized by the US authorities, former executive director for Russia at the International Monetary Fund (IMF), Alexei Mozhin, told Sputnik.
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“Now we see that this system is falling apart. We see that trust in the dollar is declining. Including because it is used by the Americans as a weapon,” he told the agency.
According to Mozhin, another reason for weakening trust in the US dollar is the growing public debt of the United States and the lack of possibilities of reducing it. Against this background, he said, there is an increase in gold prices, which is the main indicator of a fall in trust in the dollar.
“Not only central banks sell dollar assets and buy gold, but also private persons, households. There is an unprecedented demand for gold from ordinary citizens who sell dollars and buy gold. This proves growing distrust of the dollar,” he said.
He added that he had repeatedly raised the question of why the fund is not discussing the international foreign exchange system on the IMF Council of Directors.
