According to retired U.S. Air Force Brigadier General Blaine Holt, the United States economy could be in danger if China and Russia end up choosing to trade within their own gold-backed money rather than U.S. dollars, which is currently the world’s foremost currency.
During an appearance on Newsmax’s “Wake Up America” on Sunday, Holt argued that the potential overthrow of U.S. dollars as the world’s reserve currency is the “number-one issue.”
“Amidst all the crises and wars and stuff that we see, this is all camouflaging this number-one issue,” he said. “If we lose the reserve world currency, which is absolutely in the crosshairs of [Chinese President] Xi Jinping and [Russian President] Vladimir Putin and other countries, our lives will be so completely different.”
“Americans need to wake up and start educating themselves about this or they’re going to be educated, whether they want to or not,” Holt continued.
In this piece, @faq1955 explains how #Russia and #China grew to be less dependent on the #dollar in their transactions, and how many countries, especially those sanctioned by the #US, are also doing the same, ushering a new era for the #yuan and dollar. https://t.co/ZrLPhtZ239
— Al Mayadeen English (@MayadeenEnglish) January 6, 2023
The former deputy military representative to NATO added that China and Russia choosing to trade between themselves with their own currencies would mean that U.S. dollars would be “worthless,” though he believes that may be Russia’s “top-line goal.”
“They are backed up by some formidable allies,” Holt said. “Xi Jinping and the World Economic Forum, they’re not at odds with each other. They’re completely aligned in their goals. Vladimir Putin and Russia, they’re really, really just kind of a client state and they’re becoming a client state of China.”
China has also been making major moves within financial markets, purchasing billions of tons of gold. Holt claims that the moves appear as though China is “starting to prepare for war, but we see them preparing for war with their attacks and exercises on Taiwan. Then we start seeing a decoupling of the West.”
Holt also called out President Joe Biden’s national security team — asserting that they have lost “every single time,” but “nobody’s been held to account and now we’re in grave danger.” He argued that the U.S. under Biden’s leadership is spending money that we may need later, while China is taking things “very seriously.”
“We’re watching dollars we’re going to need to fly out the door and nobody wants to tell us how they’re being used,” he added. “China’s taking this all very seriously. Cash-wise, they’re broke but Xi Jinping and the World Economic Forum have, in preparation steps, that we have better start waking up and paying attention to.”