Amid BRICS de-dollarization, El Salvador President Nayib Bukele has said that the US dollar is headed to collapse. Speaking at the Conservative Political Action Conference (CPAC) in Maryland, Bukele was welcomed with rabid applause by those in attendance. However, he did not withhold his opinion on the potential fate of the greenback.
Ultimately, Bukele said that the United States economy is built on a “farce” through its consistent money printing. Moreover, he referred to this as the “bubble that will inevitably burst,” and will devalue the currency that has become the backbone of global economics.
Throughout the last year, the BRICS alliance has not been shy about its stance against the US Dollar. Indeed, the bloc has consistently sought greater global abandonment of the greenback. Specifically, in turn for the promotion of local currencies in international trade settlements.
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El Salvador’s President Says “Dollar Will Fall, And Western Civilization With It”
Now, the BRICS perspective has been echoed by El Salvador President Nayib Bukele, who said the US dollar will collapse. Indeed, Bukele spoke at the CPAC in the US and did not hold back his perspective on the American economy. Altogether, delivering a poignant warning about its fate if the course is not corrected.
“The real problem is that you pay high taxes only to uphold the illusion that you are funding the government, which you are not,” he stated. “The government is funded by money printing, paper backed by paper. A bubble that will inevitably burst.”
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“The situation is even worse than it seems because if most Americans and the rest of the world were to become aware of this farce, confidence in your currency would be lost. The dollar will fall, and Western civilization with it.” Finally, Bukele stated that “if the next President of the SU does not make the necessary policies and structurual changes, sooner to later that bubble will burst.”
Bukele’s statements have been mirrored by various global leaders throughout the last year. Moreover, even the US entire shave echoed the potential downfall of the US financial system on its current path. Most recently, Bank of America CEO Brian Moynihan discussed the danger of continually disregarding the growing and astronomical US Debt problem.
The figure recently surpassed the $34 trillion mark. Its current trajectory can not end any other way than in the form that tBukele has predicted. Indeed, it is the fuel to the ongoing de-dollarization policies the global south has thus far embraced.