A worldwide movement gaining momentum and the transition towards the multipolar world has put an end to the dominance of the US dollar, says a US-based activist.
Richard Becker, an anti-war activist from the Answer Coalition based in San Francisco, told Press TV in an interview on Monday that the US government is “very worried” about the dollar losing its dominance.
“The [US] government is very worried about this… there is a rising movement in the world along with the multipolarity that is emerging and has emerged, in fact, I think the movement has put an end to this kind of domination,” Becker remarked.
His remarks came after US Treasury Secretary Janet Yellen admitted that Washington’s imposition of unilateral sanctions on countries around the world could weaken the dominance of the US dollar.
“There is a risk when we use financial sanctions that are linked to the role of the (US) dollar that over time it could undermine the hegemony of the (US) dollar,” Yellen told CNN in an interview on Sunday.
Becker said the "sanctions policy and the use of sanctions so widely as the US is doing, facilitated by the dollar being the world currency, has caused great destruction and immense human suffering, especially in smaller and weaker countries that are subject to sanctions.”
He added that dollar dominance has allowed Washington to continue to wreak havoc and cause suffering in many countries around the world.
According to Becker, China, Russia, Iran, Brazil, and many other countries abandoning the use of the US dollar and agreeing to settle their trade in Yuan or other currencies would hopefully mean the end of the long reign of the dollar.
“I really do hope so because the domination of the 9US) dollar has been so destructive to a long list of countries,” he added.....more below
