The United States is bracing for its day of reckoning in the current year as the dollar is depreciating due to Washington’s reckless policies, says a former US official, Press TV reports.
Paul Craig Roberts wrote in a Thursday column on Press TV’s website that the US dollar is facing pressure due to the “Federal Reserve’s declining ability to rig the price of gold” and the US President Barack Obama administration’s “foolish threats of sanctions on Russia.”
“2014 is shaping up as a year of reckoning for the United States,” wrote Roberts, who is a former assistant secretary of the US Treasury for economic policy.
He said the US is abusing “the world dollar standard” in order to “inflict damage on the economies of countries that resist Washington’s political hegemony.”
The analyst said the demand for the US dollar will drop sharply as China and Russia are phasing out the dollar from their transactions.
“China has come to the conclusion that China has the same enemy as Russia has – Washington,” wrote Roberts, adding, “While Washington presents Europe with war and sacrifice, Russia and China offer trade and friendship.”
The analyst held out the possibility of the collapse of the US dollar, saying that such a scenario would end “Washington’s superpower status and Washington’s threat to world peace.”
“Or Washington will lead its puppets into military conflict with Russia and China. The outcome of such a war would be far more devastating than the collapse of the US dollar,” Roberts speculated.
He said the US has been pushing Europe into undesirable confrontations with Russia over the US-led “coup in Kiev;” however, the “Europeans understand that any real sanctions on Russia, if observed, would do far more damage to Europeans [themselves].”