from Sputnik News:
WASHINGTON (Sputnik) – Global de-dollarization is possible within the next 20 to 30 years but the currency is enjoying its peak years at the moment, former Lehman Brothers executive Lawrence McDonald told Sputnik.
“It’s definitely going to happen,” McDonald said. “It’s not a near term problem, maybe 20 to 30 because the US has so much wealth, we’ve got a lot of military power, but there’s no question. The peak dollar best years are right about here.”
TRUTH LIVES on at https://sgtreport.tv/
McDonald, who served as the vice president of distress debt and convertible securities trading at Lehman Brothers, pointed out that the weaponization of the SWIFT financial system may harm the US dollar’s dominance by pushing banks to other substitutes.
“The sanctions-SWIFT game should be used by the West once every 10 years, but they’ve been using this against multiple countries,” McDonald said. “Sanctions against Russia in a war, okay, that’s fine. From a US perspective the problem is you’ve hit 10 different countries over the head with the sanctions card, so you’re forcing these countries to form a bloc against you. That’s what’s happening.
Two years from now the US dollar is going to probably be much lower because countries and banks will be searching for ways around SWIFT, McDonald said.
